If you are graced with a budget surplus as your year winds down, you obviously have important decisions to make. Coming in under budget is good, but will your 2017 budget be cut as a result? Will you be asked to do even more with less next year? Manage your surplus to position your department and company in an even better spot next year. If you decide to use your budget to help your HR or payroll department, consider the following:
You know the end of the year is the busiest time of the year for HR and payroll, and as a result can put significant stress on your department. Use your extra budget to supplement your team through the end of the year to make sure you deliver the HR and payroll services your company demands. Temporary HR and payroll staff (provided by Willory) can help with open enrollment, year-end reports, or simply take over some tasks so your team can focus on high priority items.
Often new major projects and/or HCM systems have a January 1st deadline for implementation. If you have some extra dollars, consider using them for project management or consulting work to assist your HR and payroll team(s). This additional help can ensure your meet your deadlines and have a system or project that is completed properly.
Are your payroll and HR systems compliant going into 2017? Are you sure? There has been a plethora of changes this year. Make sure you go into the new year legally compliant and in great shape. Not spending the money to insure compliance this year could severely cost you in fines next year. Willory’s consulting team can audit your systems before year’s end.
As an HR or payroll employee, you know that things like bonuses, gifts, awesome holiday parties, etc. can help build employee loyalty. Show thanks to your employees using the extra budget money you have.
Roll it over
It might be a little less satisfying, but if you’re able to move ’16 dollars into 2017 and there is just nothing you need (or want), there’s no harm in moving it to next year… or even saving money!
Are you preparing for 2017? What are your stress points? Comment below what your big problems are for next year.