After the unprecedented lockdown of most countries due to the Coronavirus pandemic, many employees have had to adopt a remote working strategy. Although authorities implemented the policy to ease the spread of the virus, many people have opted to employ the working system permanently. Studies have shown that more than 40 million people in the United States alone will work remotely on a regular basis, even after the pandemic. While this switch may seem straightforward, there are plenty of factors that employers and workers may overlook. Perhaps the most overwhelming change would be to switch payroll operations smoothly. Still, with the right strategy, this shift could be a breeze.
Since payroll is time-sensitive, it should be a top priority for every business. Fortunately, there are plenty of online tools that can be of significant assistance when managing this change. For instance, using a suitable paystub creator can lift a heavy load off your shoulders. What's more, there are several strategies that employers can implement to make the transition from the office significantly easier. This article highlights some of the best practices you can employ to manage payroll for remote workers successfully.
Revise Company Policies
One of the most vital things business owners need to do after a change is revising company policies. Even if you're not making considerable alterations, your firm may need a new set of rules to govern it successfully. Moreover, there are several external factors that you must consider after a shift in business operations. Perhaps the most significant factor to contemplate is staying in line with compliances such as labor laws and taxes. Employers should also review internal policies regarding timekeeping, leaves, bonuses, and absences to maintain productivity and avoid breaking labor laws.
Cross-Train Payroll Staff
With people working from different locations, communication can be a rather tough hurdle. For this reason, the last thing employers want is to be dependent on one person to perform crucial tasks. Doing this would put business owners at risk of delays which can be incredibly detrimental to the bottom line. One of the best ways to combat this would be to cross-train employees to perform vital payroll operations independently. It would be excellent if your entire payroll staff could work on some of the essential activities like onboarding and offboarding workers, verifying taxes, gathering necessary data, and recognizing deadlines. Executing this tactic will help improve productivity and prevent costly delays.
Automate Workflows
There's no denying that we live in a golden age of technology. Employers managing a remote workforce can take advantage of the cutting-edge tech available to alleviate their work. Business owners can use various software to track and compute employee work hours. Doing this can help workers in the payroll department save time and effort when collecting data. Moreover, employers can use automation in various facets of the company to eliminate discrepancies caused by ineffective communication. It can also come in handy when mitigating rigorous processes.
Delegating Authority to Multiple People
Just like cross-training employees, delegating authority to the right people will help ensure all approvals are completed on time. Doing this will also prevent delays when certain people are not available. Employers should ensure that principal stakeholders such as payroll approvers and accounting personnel are prepared when making approvals. Moreover, it would be wise to notify banks and other financial institutions of the new people in authority to avoid hiccups when they need to disburse funds.
Centralize Data and Documents
With most employees working remotely, it's the perfect time to go digital and paperless. Doing this would make it easier to manage and coordinate payroll documents without going to the office. What's more, going digital makes records more accessible and safer. Unlike physical paperwork, having documents on the cloud prevents the risk of loss and damage. It also helps streamline data sharing and collaborations since there is a centralized database. For this reason, employers with a considerable remote workforce should consider investing in cloud storage to make work easier.
Final Thoughts
Remote working is becoming increasingly popular among companies. With the pandemic still wreaking havoc on economies, it's safe to say that this work system will become more prevalent. Although this presents a challenge for employees in the payroll department, using the tips highlighted in this article will significantly ease the pressure.
* This is a contributed article and this content does not necessarily represent the views of sciencetimes.com
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