We all love a traditional cake and ice-cream party, especially during office hours. This year, during National Payroll Week, I challenge you and your team to go a step further and find a way to show your appreciation for payroll by getting to know them better, not just on a personal level but gain a better understanding of what they do for your company. Many of us lose sight of how complex payroll people have it and that there is no easy button. They work with large amounts of information, process it in a timely manner, and constantly adjust to government and economic policies.
Understand the Process and Your Personal Finances
As an individual who is new to the payroll industry, I have been overwhelmed by the importance of these functions and the role they play in every company. We all want to get paid. And we all must submit our taxes every year whether we use an online solution or utilize an accountant. In these situations, we only see the tip of the iceberg. When we get a new job, we sign up for a 401k plan, withholdings plans, and benefit packages, but do we understand what happens next? Finding out how you get paid and exactly how those process works are extremely important to your financial future.
On September 6th it is Money Matters National Education Day. Sure, you should be able to trust that your paystub and withholdings are accurate, but being knowledgeable of the process means you can spot an error. If you’re interested in learning more, visit https://www.nationalpayrollweek.com/npw-tools/. The resources include a paycheck calculator, IRS withholdings calculator, employee work eligibility tools, and more.
If you’re unsure if your company’s payroll people, process, and technology are efficient and compliant, let us know. Our payroll audit process can help create a roadmap to best practices and help your organization succeed.
If you’re looking for some ideas to help support your payroll colleagues, visit willory.com/thanks-payroll. The resources are there to help you acknowledge all the hard work of your payroll professionals. It’s a great chance to celebrate, support, reward, and honor the payroll department at your company.
The upcoming weeks are a wealth of opportunities to think strategically about the functions of payroll and how they affect you and your company. Outside this timeframe, the reasons for a better understanding of payroll are numerous, including the chance to improve and get more out of your payroll and HR investments. Don’t purchase a new HCM system or update processes before you accurately understand the rules of payroll and provide proper training. A lack of understanding can lead to a loss of time and money for your organization.
Here are some simple ways to get more involved on a regular basis:
Get to know your payroll people by asking questions and finding ways to work with them on regular functions (even if it is small things)
Stay educated on the news and economic policy and how it affects payroll
Use resources from the APA website to educate yourself and monitor your personal finances
Show your appreciation every day to the payroll individuals in your company. They put in a lot of hard work!
As I’m working with payroll openings, I have a better understanding of the importance of payroll experts who can not only perform the job duties but fit the culture of your organization. Let’s schedule a conversation if you think payroll could better serve your organization. And, if you’re a payroll professional who doesn’t feel appreciated in your current role, check out our current job openings.