Technology in recent times has been an enforcer and amplifier for every product known to be efficient, easier, more reliable, less prone to human error and faster in delivery. This can be seen almost in all areas of human endeavors especially the cooperate workplace where labor/human management has been the bane of the success stories being sold to us by Fortune 500 companies. Technology has been a factor that has assured this feat.
What is an Automated Payroll system?
An automated payroll system enables the employer to process its payroll through a computerized system. A manual payroll system requires that the payroll be processed by hand and is therefore a considerably slower procedure than an automated system. The former makes payroll processing simpler, and reduces errors, which are more likely with the manual system. ~Chron Business
During Recruitment interviews, potential employees are most often being asked “what motivates them to apply for the “xyz” position?”, many replies are cliche and may revolve around work culture, Companies Brand name and known ethics but if being pressed further the number one motivation for workers to get off their bed to work for whatever organization they work for is simply the “paycheck”. Ability for Organizations and Cooperate bodies to actively ensure nothing compromises their workers salary payments flow will go along way in establishing them as respected and notable organizations to work in.
Payroll management system that is being automated has been a revolutionary discovery in the world of Human Resources Management and an integral tool for many organizations. The payroll department is not only responsible for employees’ salaries but also play a vibrant role in protecting the company’s reputation, by ensuring compliance with various legislations that assures workers pay at the agreed upon time of payment.
Importance of Automated Payroll system
• Employees Payment Assurance
Employees need to feel assured that they can be paid on a consistent and timely basis by the company. A late and inaccurate payroll might cause employees to question the financial stability of the organization. This might compromise on the work environment within the organization, resulting in under performance and ignorant behaviour towards the organization.
• Compensation Package
Companies that adopts the automated Payroll allows their employees to feel and be comfortable about his net worth within the organization. Payroll is not limited to the salary of an employee but also the bonuses and benefits. Based on annual performance evaluations, employees are typically rewarded with a salary increase or bonus, or ideally, both. This, in turn, might boost an employee’s performance, translating to a positive effect on the organisation.
• Uphold Company’s Reputation
The Automated payroll system ensures that the activities of an organization adhere to the country’s obligations and compliance for the Rule of Law as regards minimum wage payment. The efficiency of meeting tax obligations on time and upholding of legislative laws can easily be in-cooperated and implemented using an Automated Payroll system and can further establish the organization’s reputation as a stable employer.
- Eliminates Human Bias
The Automated Payroll system also plays a huge role in eliminating costly human resource mistakes carried out by HR Managers such as over-paying or under-paying of workers salary, not disbursing salary on scheduled dates, common financial mistakes as regards workers pension remittance and more has now been solved by an automated Payroll system.
Automated Payroll management system had over time proof to be one technology that serves as a bridge in keeping Employee to Employer relationship seamless thereby promoting efficiency and overall quality service delivery by the firm.