Small Business Payroll Trends for 2015
All small business owners want to make their business more efficient in the coming year. Of course, there’s a lot of different areas that can be addresses in attempt to do so. One of these is payroll.
Payroll software has become quite tech-savvy over the past few years and it makes sense for nearly all small business’ to at least look at payroll software options. It’s likely cheaper and it keeps all of your employees’ information in-house.
So, what are some of the trends for 2015 when it comes to payroll? Let’s take a look.
Everyone wants to be mobile
Long gone are the days of punching a card and checking out for the day. When people want to fill out their time card, they want to click an app that lets them submit hours and request time off. A Sure Payroll survey recently found that 80 percent of their customers who have a business with one to 10 employees already use mobile technology for payroll.
These days, nearly everyone has a smartphone or a tablet. They want the freedom to enter their information at the desktop, or away from the office.
Mobile also means giving your employees more transparency with regards to their bank around time off days and past paystubs.
Outsourcing payroll is one of the first things small business owners look to do. They hate the fact that payroll is a time-sucking task, but don’t realize what else is out there. It’s too easy to simply sign up and pay hundreds of dollars per month for someone else to handle payroll.
Recent advances in technology make payroll easier to do in-house. In fact, employees with no payroll experience could likely handle payroll software with the proper training. This allows you to have one employee handle multiple tasks. And if that can’t work, then you can likely hire a part-time employee.
It’s going to be trickier.
Just when technology is making things easier, the government is making things more difficult.
Things like the Affordable Care Act come with a lot of compliance complexities. That’s not the only tricky thing to look out for this year. Thankfully, payroll software can be updated automatically to include some of these issues that impact employers, employees and the government.
More than just payroll
Payroll just isn’t payroll anymore. It needs to be a complete human resources, end-to-end service.
Look for payroll software and outsourcers to include more HR-related services, such as job postings, benefits information and more.
With the new year well underway, focus on what you want to accomplish when it comes to payroll and try to save yourself time and money.