If there are two departments that are the spine of any organization, they are payroll and HR. These two departments take on vital roles in any company from making sure everyone is paid accurately and within compliance with all federal and state laws to organizing all employees so they know company policies and procedures that keep the company profitable.
However, not many people truly consider the cost that is involved when it comes to keeping these departments functional. What’s more, companies may not be considering all of the “hidden costs” that are related to these important functions.
Your company’s HR and payroll don’t have to be weighing down your budget and can still be doing all the important things they do. With the help of technology and a solid strategy, the hidden costs these departments require can be reduced or eliminated.
What hidden charges are involved?
A lot of companies know about the easy-to-identify costs of doing business. But when it comes to HR and payroll, there are hidden costs that aren’t always taken into consideration. Some of these costs include:
- Costs associated with fragmented processes
- Inadequate time management skills
- Roles in the department that aren’t specialized in duties
The good news is that these costs don’t have to weigh down your company’s budget. Identifying these issues and finding solutions to fix them will help you drive down the hidden costs in no time.
Too often in HR and payroll, employees are using multiple software suites to do a variety of jobs. One piece of software might be used to onboard new employees while another is used to serve as a training platform while still another is used for tracking benefits information for payroll.
Going back and forth between all of these programs can be costly to you in two ways: you are paying for all of these programs, and you are paying for the extra time it takes employees to go back and forth all day.
HR and payroll technology are evolving all the time, and there is quite possibly an easier way for these departments to do business. Find software that integrates these processes into as few programs as possible. Streamlining your technology could save your employees a lot of time and you a lot of money.
Inadequate Time Management
Not managing time well is not an issue confined to HR and payroll. In fact, poor time management is costly to companies across all departments and roles. It’s too easy to put daily tasks on the back burner because of emails and phone calls coming in that require an employee’s attention right away.
Not managing time well means an employee’s work gets backed up and slows down productivity overall. That’s why you should create a plan to address this issue that can include:
- Professional training about managing multiple tasks assigned to multiple roles
- Help employees prioritize tasks so the “must do now” tasks are never backed up
- Set measurable goals for employees to help them keep their eyes on the prize
- Teach employees how to delegate tasks to others when they are overwhelmed
Helping employees manage their time more effectively can help all employees but especially HR and payroll employees who are often pulled in a million different directions over the course of the day.
Non Specialized Roles
Anyone in HR and payroll can tell you that they wear a lot of hats, and all too often they are wearing hats that aren’t in their original job description. As things come up and need to be addressed, these departments are often the ones that need to step up and take care of it.
To save the sanity of your employees while also saving money, it’s time to get very specific in what every individual’s role is. While you probably have a detailed job description, revisit it. Does it still speak to the nature of the job? Have duties for that job evolved as your business has evolved? Do all the duties assigned to one person still make sense in the scope of the job?
Looking at your job descriptions and getting more specific with your company’s roles and their responsibilities will ensure employees know their lane and can stay in it.
Looking for more advice that will save you time and money in HR and payroll? Complete Payroll is the expert you’ve been looking for. Our blog page is packed with articles like this one that will help you streamline your HR and payroll processes. Visit us today to find the answers to the questions you’ve been searching for!