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What are the benefits to choosing to Outsource your Payroll versus keeping it in-house? And if you do produce your Payroll internally, do you use an application that is wrapped within an HRIS system or do you choose a stand-alone system? Join us as we look at this topic in today's conference.
What are the most frequent payroll errors—their costs and consequences—and how can you prevent them?
Payroll errors can be costly—to make and to fix. Miscalculations and incorrect payments can damage employee relations and your bottom line. Some errors happen more often than others. But with the right tools, you can easily avoid them.
Learn about a simple solution to help you eliminate errors like miscalculating taxes, assigning earnings or deductions to the wrong employee, setting up incorrect GL rules, missing compliance deadlines, and much more. Plus…discover how you can seamlessly link changes that result from performance appraisals, pay raises, benefits changes, job changes, overtime, etc. to payroll for error-free and up-to-date payroll calculations.
You’ll find out how to:
Run payroll free of errors
Make last-minute changes to payroll calculations—without added costs
Run payroll reports instantly, anytime and anywhere…at no cost
Sync payroll with all other areas of HR and talent management
How to End Service Bureau Fees, Reduce Costs, and Control Your Own Payroll Process
Outsourcing payroll processing may have made sense years ago. Organizations didn’t have the technologies available in-house and legacy systems and the manual processing of payroll consumed time and resources from both payroll professionals and IT. But with the advent of newer technologies, organizations can easily manage the entire payroll process in-house at a lower cost and with more control.
In this webinar you will find out how an integrated HR, payroll and time and attendance software application can streamline your process, improving productivity, minimizing compliance risks and reducing costs. Of course, you’ll learn about the myths and truths about outsourcing payroll.
What Will Participants Learn:
1.How to spare your payroll department from the brunt of the work.
2.How to minimize payroll errors and their associated costs.
3.How managing payroll in-house is more cost-effective than outsourcing.
On average, companies spend between 35-60% of their total expense budget on their employee-related expenses. The operations and administration of these expenses - payroll, human resources, and benefits programs - require a complex scheme of systems, processes and people. Yet, despite best efforts to maximize systems investments, to establish effective operational processes, and to ensure tight internal controls, many companies experience high error rates, serious operational inefficiencies, and fraudulent conditions that can create costly risk and compliance problems. We have seen error rates run as high as 5% of total payroll expense.
As experts in payroll, time and labor, and HR operations, implementation, and assessment, Executive Alliance will introduce some surprising trends in these areas. Despite internal audit procedures and controls, payroll fraud, operational inefficiencies, costly errors, and compliance problems are all too prevalent. The costs and risks are substantial, and often financial leaders are unaware of the problems lurking below the surface, especially when payroll appears to get out the door uneventfully each pay cycle.
Leading the session via a case study-based approach, the speaker will lead a discussion on how even the best run companies may be at risk. He will provide practical advice, proven techniques, and lessons learned for ensuring that the best practice operations and controls are in place. This problem is broader than payroll and time and labor management, administration and operations, but also encompasses other key employee-related expenses and administration (i.e. benefits management, HR, compliance, and compensation).
Participants will also learn how many efforts aimed at addressing fraud and operational inefficiencies are impacted by unsuccessful change management attempts. The speaker will provide a prescriptive approach to effectively reducing risk and implementing better checks, balances, and procedures that can dramatically improve confidence in the effectiveness of payroll accuracy and payroll operations, and potentially reduce unnecessary expenses.
Included in this webcast will be a review of the results of the recent Payroll Systems Survey undertaken by HR.com.
Sponsors for this event:
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