Technology | 7 min read
How Technology Is Changing Payroll Scheduling
Technology continues to revolutionize most business operations, and payroll scheduling is no exception. Scheduling shifts can be extremely challenging for any business, especially when assigning a mix of on-demand, flex, and salaried workers. In this blog post, we’ll explore how technology is transforming payroll scheduling and the benefits it brings to businesses.
How Can Payroll Scheduling Management Affect Your Organization?
Payroll management can impact an organization’s risk profile, its ability to manage its cash flow, and its bottom line.
Many companies strive to reduce inefficiencies in their processes, and non-automated payroll is one notorious example. Consequently, about 85% of organizations surveyed claim to track key performance indicators like accuracy and efficiency.
What Can Automated Payroll Scheduling Do for You?
There are several ways your organization can benefit from a payroll management solution:
1. Online Payroll Systems
Utilizing web-based payroll systems that automate the entire payroll process, from data entry to tax calculations, eliminates manual tasks and saves time. According to the survey mentioned, 91% of organizations use a payroll system.
2. Self-Service Portals
Providing staff with self-service portals where they can access their pay stubs and tax forms and make changes to personal information reduces administrative burden and enhances the worker experience. This is a major selling point when you’re asking employees to implement the new system.
3. Mobile Applications
When an organization mixes contractors and hybrid workers with on-site workers, it’s useful for everyone to have a way to track time and make requests on the go. A mobile app helps by offering staff a way to easily submit time sheets, request time off, and view payment details, providing convenience and accessibility.
Benefits of Payroll Scheduling Software
Using an automated system canlower costs, improve compliance, streamline the management of benefits, tax, and retirement contributions, and enhance accuracy—ultimately improving your bottom line. The main benefits of payroll scheduling software are as follows:
- Lower Labor Costs
One of the main challenges for HR teams is having to manually calculate each employee’s payroll and keep track of deductions, overtime, paid time off, and more. Companies that employ both salaried employees and contractors face the additional challenge of scheduling payments for everyone. A payroll scheduling software automates payroll management, freeing HR teams’ time and allowing them to focus on core business processes.
Leading scheduling software solutions also optimize shift management and give you the necessary visibility over working schedules, thus reducing overtime and improving the HR team’s productivity.
- Fewer Payroll Mistakes
Automation increases the accuracy of calculating payroll for different types of employees. This helps eliminate human errors like incorrect tax deductions or categories. An automated payroll scheduling system ensures everybody gets paid on time and without mistakes. It also prevents lawsuits and loss of employees’ trust due to payroll errors.
- Enhanced Compliance
Labor laws are complex, and even the most advanced spreadsheet won’t ensure the HR team can keep up with the latest regulations. Many payroll solutions include automatic updates when there are changes in the laws, ensuring the organization never loses compliance.
An automated solution with reporting capabilities allows you to make data-driven decisions with deep analytics. Companies can visualize the number of employees assigned to each department and every shift so managers know if there is overstaffing or understaffing, identify overtime shifts, and get an audit trail of compliance with work regulations.
What Should You Look for in an Automated Payroll Solution?
There are several choices for payroll automation, and no two are the same. When choosing an automated payroll solution, it’s essential to keep your endgame in mind—be specific about what you intend to achieve. Here are some features you should look for when choosing an automated payroll scheduling solution:
1. Integration With Other Systems
The payroll solution should be easy for your staff to use. A simple way to improve the user experience is to ensure the tool integrates with the applications they already use daily. Integrating payroll systems with time tracking, HR, and accounting software ensures accurate and timely data transfer and minimizes errors.
2. Compliance Features
Incorporating compliance features into payroll software reduces the risk of non-compliance and penalties. Tax calculations, for example, are among the most time- and resource-consuming activities for HR professionals. Automating tax calculations and regulatory reporting can help minimize errors and easily reveal any discrepancies before submissions are filed.
3. Data Analytics and Reporting
An effective payroll system should have detailed reporting and analytics features. Advanced reporting and analytics tools provide insights into payroll data and trends and allow managers to make informed decisions to optimize payroll scheduling and budgeting. Look for software that provides detailed reports on overtime payments and paid time off and delivers visibility through graphs or charts.
4. Automates Different Types of Work Schedules
These days, many companies work with a mixture of on-site and remote employees as well as salaried and on-demand workers. Calculating the payroll for all these different work models can be a headache for HR teams. When looking for payroll scheduling software, ensure it can calculate payroll for salaried employees and on-demand workers.
How Nowsta Streamlines Payroll Scheduling
Technology-driven advancements in payroll scheduling have transformed how businesses manage payroll, leading to increased efficiency, accuracy, and compliance. By embracing technology solutions like online systems, self-service portals, and data analytics, businesses can streamline their payroll processes and leverage the benefits of technology to improve overall payroll management.
Nowsta simplifies staff management and payroll scheduling with automated staffing, intelligent time-tracking, and centralized reporting and invoicing. Nowsta is the only platform that allows the management of salaried, temporary, flex, and gig workers under a single solution.
Learn more about how Nowsta improves staff management and payroll efficiency while optimizing your fill rates. Schedule a demo today to start improving your staff management processes.