3 ways the most efficient Payroll departments save
Payroll processing costs eating away at your budget? Take a look at what top-performing payroll departments are doing differently — and make any necessary adjustments.
According to a 2008 study by the American Payroll Association, the most proficient payroll departments can save nearly $1 for every employee payment they make. The actual difference in processing costs per employee (from best to worst): $2.06 to $3.03.
Huddle with Payroll to determine any areas where you can potentially streamline processes.
Here are three things the most efficient payroll departments are doing now:
- Less paper. Ramp up use of direct deposit or paycards to reduce paper and save money.
- Watch off-cycle payments. Limit the number of off-cycle payments (bonus payments, incentives, etc.) and save.
- Go the “Self-Service” route. Boost productivity and free up employees for more important tasks by going with self-service options whenever possible.
- Share on
Free Training & Resources
Webinars
Provided by Yooz
Further Reading
High inflation continues to impact businesses. One of the latest examples? Costlier penalties for breaking workplace laws. Several federal ...
The 2024 tables for federal income tax withholding are now available, IRS said during a recent Payroll Industry Call. The Service poste...
The Department of Labor (DOL) has released its final overtime rule, bringing mid-year changes and a higher-than-expected salary level incre...
Several types of earnings would no longer be taxable for income tax purposes, according to plans put forth by President Trump. In his ad...
The IRS has increased 2026 mileage rates for the second half of the year due to rising fuel prices. Here are the changes that took effect o...
Paying employees by direct deposit is convenient for all involved. But a recent court case is a reminder that funds could end up in cybercr...
