Use Employee Benefits Administration Software

Employee Benefits Administration Software Grants Small Companies Big ROI

As the owner of a small company, you already know that your total employee compensation plan can make a major difference in your hiring process. Without a cohesive benefits package, you may continuously find yourself at the mercy of your larger competitors when it comes to hiring talent; the industry giants get to handpick their candidates and your business is left with the applicants they didn't want.
Don't settle for leftovers when staffing your team; incorporate employee benefits administration software into your organization to streamline your overall compensation initiatives and level the hiring playing field with even your biggest opponents.

Employee Benefits Administration Software Offers Centralized Compensation

Implementing an HCM program, like employee benefits administration software, not only helps attract qualified candidates, it also enables organizations to centralize access to every component of their plan. When selecting a vendor to help with integration, look for one that offers a system that will seamlessly integrate into your existing applications for uninterrupted service.
Additionally, you will also want to source a provider that can also help you develop a more comprehensive compensation plan. When strategizing your corporate offerings, keep a few key offerings in mind to yield your small company the biggest return on investment. Some benefits to offer include:
Financial Advantages
Offer your employees more than just a salary; include financial benefits in your plan for a well-rounded final compensation plan. A 401k plan can prove a major first step in the right financial direction for your organization. Not only will your employees reap the rewards of the program, but you may also be eligible for tax breaks depending on the size of your business. A qualified 401k provider will also offer financial advisors to help your staff make wise investment decisions.
Providing tuition reimbursement can also help attract talent. Savvy business owners understand that elite candidates will also want to learn. Assisting with educational fees can keep them on the cutting-edge of your industry and reinforce the strength of your overall team.
Health Benefits
It's no secret that healthcare is expensive…and continuously going up in cost. No matter how small your business, you can offer various health options to encourage candidates to work for your business. Flex spending and healthcare reimbursement plans can prove excellent benefit alternatives if you can't afford standardized health plans.
Providing reimbursement for gym memberships is another excellent way to help keep your staffers happy and healthy. Here's a bonus perk; healthy employees are more productive. Work with your software system provider on adding fitness compensation as part of your overall benefits plan.
Overall Emotional Wellbeing
Don't overlook the value that your employees put on feeling valued. Offering benefits that focus on your staff's emotional and social health can be a deciding factor during the hiring process. Flexible scheduling, training and development, and even encouraging employees to volunteer in the community can define your corporate culture and entice top talent to join your team.
Contact The Payroll Company today to learn more about customizing your compensation offering with our employee benefits administration software.
This post was originally published at http://www.payrollcompany.biz/use-employee-benefits-administration-software/

Partner With A Quality HCM Company

Selling HCM To Your Employees

In today's fast-paced, ever-changing global market place, hiring impressive talent is a must. This proves particularly true for smaller businesses. No matter what your corporate offerings, staffing your team with the very best candidates can mean the difference between merely treading water and actually leading within the industry. For many HR specialists tasked with recruiting these top tier applicants, teaming with an HCM company to incorporate a customized system into their infrastructure can prove an invaluable tool.
Give Your HR Team An HCM Advantage
Using human capital management systems prove a major first step in out-recruiting the competition for available applicants. Your HCM company will team with you to automate the entire staffing process. Your final system will automatically manage both the number of total candidates streaming in through various channels as well as the overall quality of applicants, making it an easy sell to your entire HR department. They can quickly pinpoint which hiring resources have delivered the best applicants as well as know how many prospects are currently in the pipeline.
Additionally, your human resources department will also appreciate how a human capital management application simplifies moving viable applicants through various interview phases. All communication, notes, and action items get logged directly into a centralized system. Your hiring managers and executives will receive prompts about next steps so nothing falls through the cracks as you move forward with your hire.

Benefits Of Teaming With An HCM Company

Of course, the recruiting process is only one example of how invaluable an HCM system can prove to your organization. It's important to note that it's not only your HR team who will benefit from a human capital management application. A veteran HCM company will create a system that also encourages and facilitates employees' development, making it a highly valuable internal resource even after they are hired.
Post-Hiring Benefits Include:
New Employee Onboarding
Finding the right applicants is only the first critical step toward hiring success. It's also crucial to give your new hires everything they need for optimal productivity as quickly as possible. Your human capital management method delivers a streamlined new employee onboarding process that doesn't rush through key new hire factors. The system will track and manage all required paperwork, deliver necessary training materials, and ensure that every new hire receives an identical onboarding experience.
Performance Management
Employees in every industry value organizations that emphasize factors such as performance and overall career-path development; they consider these key components actual benefits. Your human capital management system stores all relevant performance and productivity information so you can quickly recognize which employees are going above and beyond expectations. Additionally, your application will facilitate communication between workers and management as well as streamline the process for employee reviews. Most importantly, the application will store all completed training and development opportunities as part of the employee development process.
Employee Access
Finally, staff members throughout your organization will appreciate the centralized access offered by your HCM system. No longer will they have to rely on your HR or management team to see relevant documentation. Instead, they can log into the system and gain insight on key employment factors such as paid time off, hours logged, and benefits paperwork.
For more information on innovative HCM systems, contact The Payroll Company today.
This post was originally published at http://www.payrollcompany.biz/partner-quality-hcm-company/

Manage Your HCM Conversion

HCM Conversion: Scrub Your Data First

Transferring your HR data from an internal system to a cloud-based HCM delivers a wealth of benefits of opportunities for your organization. A comprehensive human capital management system offers a centralized, integrated storage solution for relevant users throughout your company. With just a few simple clicks, staff members from any department can access what they need: vacation approval, timesheets, employee reports and more.
However, successfully upgrading to a human capital management software system requires careful planning to guarantee a seamless integration throughout the process. In order to enjoy an effective and efficient migration, it's critical to take the time needed for a little spring cleanup with your existing data. Following three simple tips can make your data scrub as painless and stress-free as possible.

1. Get The Team On Board
   Yes, gleaning through your data will take time and internal manpower; however, ignoring the responsibility can convolute the entire process. Gather up your internal team to update them on the impending project as well as allocate resources needed to get the job completed properly. Create a project document so everything agreed upon, including completion dates, are in writing for everyone to review as needed.
2. Update Your Procedure
   Now is the perfect time to go through your existing HR processes. What makes sense to transition over to your new human capital management system? What is outdated and needs to be eliminated from the process? Work with your HCM provider to streamline your system for optimal efficiency. Having an outline in place of how your process will work going forward will help you determine what to keep and what to eliminate in your stored data.
3. Begin The Process
   Once you have developed your plan of action, it's officially time to act. Execute on your data scrub. Consolidate old records and eliminate irrelevant functionality. Work with your chosen partner to answer questions and provide insight throughout the process so you know that you are effectively managing the data that will migrate over. Once you've completed the transition to the new HCM, be sure to run historical reports on the older data to ensure it's stored properly and easy to access.

Contact The Payroll Company Today
Have questions about migrating to an HCM? Contact The Payroll Company today for a free consultation.
This post was originally published at http://www.payrollcompany.biz/manage-hcm-conversion/

Find The Right 401K For You from 401k Providers

Pre-Tax Deferral Vs. Roth: Which Is The Better Option For Individuals?

Working with professional 401K providers often means deciding between a plan that offers pre-tax deferral or a Roth account. While both a traditional 401K and a Roth provide retirement savings options, they each have some significant distinctions that warrant consideration before moving forward in the process. A standard 401K allows employees to contribute pre-tax income to the account. Upon retirement, you pay taxes each time you withdraw funds from the plan. Conversely, a Roth account allows contributions to be made after taxes have already been paid. Paying the taxes upfront means that you will enjoy tax-free withdrawals throughout the duration of your retirement.
Which Plan Is Right For You?
Knowing the main difference between the two is critical, but it still may not be enough to determine which one is right for you. No matter which format you select, your employer and 401K providers will still deduct your allocations directly from your paycheck. However, your tax bracket, both now, and in the future, can prove significantly different. Opting for the traditional account will have a major impact on your tax bracket now. Your taxable income in any given year will be lessened by how much you contribute to the plan. Additionally, anything invested will grow, tax-deferred throughout the duration of the policy. Once you retire, you will be required to pay the standard tax on both the total contributions as well as gains.
Roth accounts means that your taxable income doesn't change. You will pay taxes, based on your standard bracket, for every dollar earned. The benefit to this is that, chances are, your tax bracket will continue to go up as you progress through your career. Paying taxes up front means that your gains aren't subject to taxation upon your retirement.
As a result, individuals entering their peak earning years leading up to retirement often achieve a better return on investment from traditional 401K plans. However, employees new to the workforce, often find that their smaller incomes do better with a Roth account. They can pay the taxes up front and enjoy gains on their contributions in the future without paying a higher tax.

Contact Our Professional 401K Providers Today For More Information

Still have questions? We have answers Contact The Payroll Company's team of 401K providers today for more information.
This post was originally published at http://www.payrollcompany.biz/find-right-401k/

Teaming Finance and Human Resources Outsourcing

Finance & HR: A Necessary Corporate Partnership

Modern business owners recognize that individual departments can no longer exist in corporate silos. In order to maximize efforts and optimize results, it's critical to integrate and collaborate as much as possible. One necessary corporate assimilation with staying power? Partnering finance and HR divisions, particularly as it relates to human resources outsourcing. When properly integrated, this type of alliance reduces hiring as a strictly administrative function and strategically transforms the process into potential financial gain.
Why have finance and HR relationships flourished in the past few years? Recent operational trends have (rightfully) re-categorized employees from mere staff to human capital. Your employees are now recognized as both the organization's biggest asset as well as probably its biggest expense; aligning HR with your finance team can help strategically leverage your human capital investment for optimal returns.

Align Your Finance Team With Human Resources Outsourcing

For many executives, the best way to reinforce a coalition between finance and HR is to use a human resources outsourcing firm to find new talent. An outside recruiting team understands that it's not enough to merely hire leading candidates. In order to consistently outshine the competitions' performance, it's critical to bring in new employees with staying power. Continuously losing team members and having to restart the search process can have a major impact on any company's bottom line. Having the opportunity to train, educate, certify, and hone internal resources is the best way to fortify your internal output, while fostering a positive overall corporate culture and morale. Human resources outsourcing has the tenure and insight needed to do just that. An outside team will know how to closely partner with your financial division to understand precisely what constitutes a successful, long-term hire. From there, they will put together a plan of action to bring in top-tier workers to seamlessly integrate within your organization to offset overall labor costs with superior performance.
Retention alone is not the only HR factor influencing profits. It's imperative to source candidates that have experience and skill versatility. Performance agility throughout every level of your business means your internal force has the dexterity and foresight needed to strategically unearth and manage any potential opportunity. Your outsourced recruiting team will access their extensive network of talent to find prospects with the agility that grants your business a competitive edge.
What To Look For In Your HR Partner
Once you've decided that a CFO/HRC relationship can boost your business, it's important to know how to find the right human resources outsourcing provider. Look for a firm that doesn't simply "fill orders" but rather, develops partnerships. A qualified and experienced company will want to get a thorough understanding of your organization's talent needs. Your chosen team should work with you to develop a strategic vision on how to take your hiring process to the next level. From there, they should create a customized staffing model that yields scalable solutions that will grow with your company for the ultimate return on investment.
Contact The Payroll Company Today
Would your company like to look into creating a partnership between Finance and HR? Contact The Payroll Company today to learn more about how we can help with the process.
This post was originally published at http://www.payrollcompany.biz/teaming-finance-human-resources-outsourcing/

Use Professional Online Payroll Services

Avoid These Potential Costly Payroll Mistakes With Your Start-Up by using Online Payroll Services

As a new business owner you will constantly find yourself straddling a multitude of functions and responsibilities. While it may make sense to continue managing various tasks, it's also critical (for the health of your fledgling venture) to look for various duties to outsource. One common function that many entrepreneurs find makes sense to outsource? Payroll. Using professional online payroll services can make a significant impact on a wide range of operations within your business. In fact, business owners who choose not to utilize online payroll services often find themselves facing a myriad of common (and potentially costly) issues.
Don't fall victim to these avoidable missteps. Use online payroll services to ensure your business prevents these potential mistakes:
Increased Employee Turnover
Many executives don't realize that there is a direct correlation between payroll efficiency and employee satisfaction. As you ramp up your business, you may not have the time needed to implement a seamless process that gets your staff properly paid and paid on time. Frustrated team members waiting for delayed payments can quickly get disgruntled enough to want to search for additional opportunities elsewhere. Outsourcing your payroll processing needs means you never have to worry prompt payments.
Inaccurate Reporting
Start-up entrepreneurs can often resort to manual procedures with their payment processes, with negative results. It's critical to stay on top of revenues and expenditures at all times. Not only does a manual process enhance the risk of internal errors, it also increases the chance of inaccurate corporate reports.
No Scalability
Perhaps you have a successful handle on paying your staffers now. However, as your business begins to take off and grow with new opportunities, you can quickly find yourself (and your payment methods) struggling to keep up with the additional volume. Outsourcing your payment procedure instantly delivers scalability to your internal processes. Your chosen partner will have the resources needed to stay ahead of your growth so you enjoy uninterrupted payment services at all times.
Lack Of Integration
Managing any of your internal functions yourself can often mean that various departments simply don't "link up." Your HR, finance, sales, payroll and other key data often exist as an independent entity. Integration between any of your department requires extensive time and committed resources, both of which you probably don't have. A professional partner will not only manage your payroll function, it will also have the capability to integrate the data throughout your organization so relevant staffers have access to the information they need quickly and easily.
Non-Compliance
Perhaps the biggest payroll mistake made by executives of start-ups is non-compliance. Having internal employees means meeting a litany of federal and local mandates. Most business owners don't have the insight (or time) needed to effectively stay on top of compliance requirements, which can, and do, change often. A non-compliant business can incur fines and penalties, costing a company precious time and money. Using a professional team to manage your payroll results in seamless compliance for your organization.
Contact The Payroll Company Today
Contact The Payroll Company today to learn more about our online payroll services and solutions.
This post was originally published at http://www.payrollcompany.biz/use-professional-online-payroll-services/

Partner With Temp Agencies In Madison WI

Temp Agencies In Madison WI: Project Staffing

Many small business owners don’t tap into the benefits offered by temp agencies in Madison WI when trying to staff short-term assignments and projects. However, entrepreneurs that have utilized staffing agencies for shorter engagements soon realize that the many benefits this type of employment partnership offers. An experienced firm offers impressive advantages including:
Expertise
Staffing a specific project means you could spend countless hours ramping up for your hire. A staffing firm already has all the insight and experience needed to successfully manage your opportunity. Best of all, they can take the task off your internal human resource department so they can focus on other critical company needs.
Broader Talent Network
As a small business owner, your talent reach can often seem limited. A staffing firm has already established relationships with an extensive candidate pool so you have access to the very best in your industry.
Cost Savings
Many employers are surprised that temp agencies in Madison, WI can actually save them money. Hiring a full-time internal resource means expenditures in both compensation and benefits. However, a dedicated recruiting team can fill short-term projects and gigs without incurring as many full-time expenses for your organization. Additionally, you won't have to spend marketing dollars advertising your open positions. Your talent team will manage that for you.
Risk Reduction
Bringing on internal employees brings with it a certain amount of risk to employers. Staffing firms minimize your hiring level of risk. The employees report to you; however, they are technically the responsibility of the staffing firm. You are not liable for taxes, unemployment claims, workers compensation or any other employer responsibility.
Optimal Flexibility
Using temp agencies in Madison, WI delivers maximum flexibility for all of your hiring needs. You decide when you have requirements as well as how many hours needed on a specific project. Once your need or mutual contract has ended, you simply alert the company. In short you can utilize their services as often or as little as you need without penalty.
Connect With Staffing Specialists At The Payroll Company
Are you ready to learn more about teaming with a professional staffing firm in Madison WI? Contact us today. The Payroll Company's experienced recruiters will partner with you to understand your specific hiring needs and create a customized staffing solution for your business.
This post was originally published at http://www.payrollcompany.biz/partner-temp-agencies-madison-wi/