BY Therese Pempeña HR Trends
Whether you realize it or not, payroll processing plays a much more significant role in achieving business goals nowadays. Beyond increasing transactional accuracy, a streamlined system is key to making the company more efficient, keeping employees motivated and reducing overall costs. If you don’t already have a payroll system in place, it’s high time you considered your options for online payroll services in the Philippines. But before you start shopping around, do take note of the four essential features you should look for in a payroll software.
Is your HR system future proof? If you’re still buried in paperwork and doing everything manually, chances are your process is obsolete by today’s standards. Leaders in HR technology all agree that an online or cloud-based platform is the way to go. HR departments of medium and large sized companies, and even small businesses are going digital to simplify their tasks. Cloud technology allows employers to track employee attendance and leaves in real time, give their employees flexibility in terms of scheduling shifts, and remotely access HR data through smartphones or other mobile devices for added convenience.
With an automated system, computing and filing payroll taxes become easier. The software you use basically calculates it for you, and some solutions can also pre-fill in tax forms based on each employees’ data stored in the system, therefore minimizing the margin for error. The system should also be kept up-to-date with any changes in tax laws in the country, like the recent amendments made to the tax reform law. Software that automatically implements such changes can really cut down your work by more than half and help you avoid getting in trouble with the BIR.
Your payroll process shouldn’t get in the way of letting your employees enjoy their rewards for performing above and beyond expectations. Look for solutions that can accommodate all benefits, allowances and other perks you currently offer to employees. This will help you assign which employees get what benefits and whether these kick in immediately upon regularization or not. You can also indicate if certain benefits are subject to taxes so that the applicable deductions can be made each cut-off.
Even an automated payroll software can become a liability if it’s not handled properly. Aside from giving the responsibility to competent employees, you should look for online payroll providers who can give you quality support as well. First and foremost, you’re going to need continuous software support. Updates and upgrades should be made available to you to retain the level of efficiency of your new system. Of course, your administrators should also be able to reach out to the payroll company through multiple channels such as phone, email, chat or other means if and when you need them. Remember, good customer service should never be treated as a fringe benefit.
Standardizing and centralizing your payroll process doesn’t require multiple solutions. What you need is a smart software that can meet all your business’ needs.