Payroll is the one process that by definition impacts every single employee in the company. When looking at reducing the cost and complexity of payroll processing, much attention is given to increasing direct deposit rates, using pay cards, and eliminating paper pay advices. While all are important, for some companies a very effective approach to […]
Background – A key component of a Peeriosity membership is the ability to benchmark quantitative performance in eight key process areas, and the ability to see differences in structure and design for 28 different business processes that are often candidates for Shared Services. This research abstract looks at the composite results of the structure and design […]
Even with the major advances in timekeeping technology that have been made in the last decade, the necessity of having significant levels of oversight to ensure employees are properly submitting their time worked continues to be the case at the vast majority of companies. Not only limited to those employees that work on an hourly […]
Payroll is a process that touches every employee multiple times a year, with a distribution of funds that make it one of the largest expense categories for any business. The Payroll audit process, while an important control mechanism, needs to be efficient and effective, without negatively impacting the end-goals of accurate and timely payrolls and […]
While reducing the number of pay cycles typically has the greatest impact on overall Payroll processing costs, eliminating special handling exceptions that require manual processing and physical checks can have a big impact on total processing costs. The HR department’s assumption that there needs to be a manual check-in hand at the exit interview, particularly […]
Payroll is a process that is guaranteed to touch every active company employee in a very tangible way, yet it is also a process where leading companies have taken a wide range of approaches to delivering payroll services. For example: Approximately 50% of all large companies have Payroll reporting into Finance, with the other half […]
Implementing electronic pay statements is one of the biggest savings opportunities that exist in Payroll, with a potential savings of multiple dollars for every paycheck issued. Implementing doesn’t mean “electronic in addition to paper”; it means eliminating the cost and headache of creating, printing, and distributing paper pay statements. If your company’s statistics are good […]
Shared Services Payroll leaders know that paying employees on time is non-negotiable regardless of the circumstances. A Business Continuity Plan (“BCP”) can ensure your payroll processes can execute on time and accurately regardless of any unplanned interruptions. A Peeriosity PeercastTM in the Payroll research area featured a global company that processes their payroll in-house. […]
Over the past few years, the proliferation of electronic W-2s at year-end has grown significantly. There are advantages for both the company, as well as the employee. A recent iPolling® question from a Peeriosity member in the Payroll research area provided them with a custom research report, prepared within hours, that included input from dozens […]
The myriad of government agencies and regulations that impact the garnishment of employee payroll can be very costly to comply with. It is not unheard of for some organizations to have over 50% of their employees having at least one garnishment on their wages, with multiple garnishments not out of the ordinary. In some organizations, […]