Keeping Costs Down In Your Human Resources Department
By: Mary Leveridge
Outsourcing the Human Resources function can not only decrease internal labor costs but can also alleviate the pressure felt by employees who are asked to take on additional human resource related duties, even if it is not part of their job description. "Outsourcingthe HR function has become a fantastic way to cut costs, save on equipment, personnel, and ultimately handle every facet of HR in a seamless manner," says Mary Leveridge, CPA and Chief Executive of Payroll Strategies in Atlanta, Georgia.
Payroll Strategies can provide clients with payroll services in addition to functioning as "The HR Department down the hall," according to Leveridge. Specific services offered include collecting and entering payroll information for each pay period, tracking and managing employees' paid time off (PTO), reconciling monthly insurance invoices and overpayments, in addition to answering HR related questions from employees – all services which can be done at a fraction of the cost of hiring an additional in-house HR employee.
Another way of managing labor costs is with the use of a timekeeping system for employees. "An electronic timekeeping system is an incredibly valuable tool to help manage employees by tracking their actual and scheduled work time, revealing those employees who are not as productive as others," says Leveridge. It also automates the process of requesting and approving "paid time off" by actually integrating email requests, thus avoiding use of "paid time off" not actually earned. With enhanced technology that is now available, the timekeeping process has become "virtual" and simple to implement. And because many of the products are Web-based, the initial cost to implement such a system can be minimal. Payroll Strategies implements and supports several different timekeeping systems and will assess your company's needs to best determine the appropriate product for you.
Outsourcing payroll processing is yet another way to minimize costs that is very simple to put into action. If you are currently doing payroll internally, Payroll Strategies can simplify the process while allowing you to retain access to all of your payroll information through state of the art online software. According to Leveridge, "a review of a company's current payroll process may identify opportunities to streamline and standardize that process, ultimately helping save thousands of dollars."
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