When it comes to manual tasks, all of us benefit from doing less. A zero-turn riding lawn mower outclasses a push mower. A leading mind in mathematics can’t crunch numbers faster than a calculator.
In short, tech makes our lives easier. Yet most businesses still lag behind in a particularly high-stakes area: payroll.
The traditional process overwhelms with now-unnecessary work for HR and payroll professionals, including having to:
- cross-reference time sheets
- search for and add missing hours
- verify deductions and taxes
- identify and correct errors
- contact employees about wrong entries
- create and adjust data sets each pay period
- and much, much more
HR and payroll personnel lose so much time simply maintaining this core business function. In fact, Ernst & Young (EY) found it takes one person 29 workweeks per year to correct a 1,000-employee payroll. That’s over half a year of productivity needlessly lost.
What if HR could end the time-consuming elements of payroll and focus on what really matters? Initiatives like:
- conflict resolution
- strategic planning
- advising leadership
- strengthening compliance
- synthesizing employee feedback
- researching benefits and industry trends
- experimenting with development programs
Enter employee-guided payroll. This industry-first innovation automatically identifies errors, such as missing hours and expenses. Then it leads workers to fix those issues before submission. Instead of painstakingly building and running payroll, HR simply oversees it.
This approach maintains accuracy and assists in compliance without the need for time-consuming manual tasks. Take Beti®, Paycom’s employee-guided payroll, for example. Beti cut the time it takes to process payroll by 90%, according to a Total Economic Impact™ study conducted by Forrester Consulting and commissioned by Paycom.
Beti transforms payroll by automating 36 tasks (and counting) an HR pro otherwise must perform, like:
- adding missing hours
- checking if a raise took effect
- contacting managers about pending PTO and timecards
- validating new benefits
- correcting reimbursements
- updating tax profiles
- filing PTO requests
- collecting direct deposit authorizations
- calculating commission
- reconciling data