Ways of achieving the best practice payroll
Payroll is a very integral part of a company. Especially in a global pandemic, It’s important for businesses to look after their employees. This will only add to the duties of HR and finance functions. That’s why OrangeIQ follows five steps to Ways of achieving the best practice payroll
Analyse your current payroll process and recent performance.
You have to see how your payroll performed before and you should ask yourself that did you get the expertise and flexibility you wanted in your company. If you outsource to a payroll provider, they should be able to offer the right guidance and accommodate your new needs. This way you will be able to evaluate your process from a workable point of view. If you find problems in your payroll process, you should consider outsourcing with OrangeIQ. We focus on just your needs and fixing your gaps in your process.
Review your policies and procedures.
Companies tend to forget their policies and procedures that they set but your payroll policies and procedures should be reviewed on a daily basis and should be easy to understand by people working in the business’ payroll. Whether your policies and procedures need a complete overhaul or simple refresh, make this a priority and involve the right stakeholders to not only develop or refine these documents but test them. The accuracy of your payroll primary depends on the company’s policies and procedures, so reaching out to outsource your payroll is a great option. At OrangeIQ, we will evaluate your policies and your procedure for rolling out and applying any changes necessary.
Manage Contracts and Awards.
Companies can face legal action if they are unable to meet Award-related obligations as employees should be treated fairly. So one should make sure they are meeting employee’s incentives and their contracts. This can be a lot of work for the head of HR to keep track of every contract and its awards. That’s why it’s a great option to get your work outsourced. So a company can focus on its primary goal and not get into investigations.
Keep up with recent knowledge.
If you take out all the new updates, payroll is still a really tedious job. That’s why your basics should be clear, and you should be updated with best practices and processes. We at OrangeIQ will deliver to you the best possible options to carry your Payroll Practices.
At OrangeIQ, we have a team full of experts in payroll processing with deep industry knowledge and experience because payroll is more than handing checks out to your employees. It complies with legal casualties, managing taxes, compensation benefits, etc
