Your employees can be one of your best assets and in order to protect your assets, business leaders need to show employees how much they are valued. Businesses may choose to offer an array of benefit programs, from generous paid-time-off to retirement programs to health and life insurance. However, reliable payroll processing is necessary to earn the trust and loyalty of your valued employees, which is why many businesses deploy strong payroll and benefit management solutions.
In companies of all sizes and in many industries, management teams can influence payroll and the employee experience. According to “Great Payroll Experiences Begin At The Top: How Company Leaders Show Employees They Are Truly Valued”, the CEO, CFO, Payroll Manager, and Compliance Officer each play a key role in building a brighter future for both the company, as well as their employees. Here’s how:
- CEO: Business leaders are under pressure to drive company growth, which includes attracting and retaining skilled employees. Offering benefits can be attractive to new employees, but they must be affordable. Modern benefit management solutions can streamline management of flexible leave, insurance, and retirement plans; and, provide valuable insight into the costs of those plans.
- CFO: ‘The buck stops here’ often refers to the CFO. In addition to managing financial operations for the business, the CFO is also responsible for payroll. The right payroll accounting tools can control complicated posting requirements, such as allocating costs across multiple departments or enforcing overtime rules.
- Payroll manager: The payroll manager works hard to ensure payroll processing is completed in a timely and accurate fashion. Manual calculations can lead to mistakes which are not only frustrating for employees, but could also impact the ability for those employees to support their families. Manage wage changes, overtime, and leave data accurately and efficiently with the appropriate payroll processing solutions.
- Compliance officer: The new Affordable Care Act (ACA) legislation is just one of the regulatory compliance obligations managed by the compliance manager. In addition to recordkeeping and reporting pressures, there is the risk of expensive fines and penalties that can keep them up at night. Automate data collection and reporting by integrating an ACA Compliance solution to your business management system.
Strengthen your business and show employees how much they are valued by deploying the right payroll and human management solutions. Download the eBook and contact Integrity Data to learn more about the tools that can streamline payroll, regulatory compliance, and protect your most valuable assets – your employees.