Staying on top of payroll and benefits for your professional team is one of the most important aspects of managing a business. Whether an employee has a question about their benefits package or you have a list of new hires that need to be added to your payroll system, these types of tasks should be done promptly, with minimal room for error for your business to maintain a positive reputation.
Unfortunately, not all businesses have access to a designated payroll and benefits administrator. This is often due to rapid growth, and failure to expand one’s professional team accordingly. Whatever the case, payroll and benefits specialists are an asset to businesses of all scales and across all industries.
At H2H Enrollments, we offer top-rated solutions that help you keep your business organized and your employees happy. Continue reading to find out how a payroll and benefits administrator could transform your internal HR.
Improve tax knowledge
One of the best reasons to hire a payroll and benefits administrator is that it increases the level of tax knowledge within your company. While your business may already have an accounting department in place, a specialist of this kind can add an extra layer of strategic planning when tax season rolls around. Some benefits packages for example, are tax deductible, while others are not. Business tax deductions also depend on the contractual agreements you have with each of your employees. With the right expertise, organizations can save thousands of dollars in taxes.
Introduce new technology
Experienced payroll and benefits personnel are well-versed in the most useful technology that should be implemented to further the success of your business. H2H Enrollments has worked with many payroll and benefits administrators to optimize internal systems, introduce paperless payroll, and streamline the entire management process. Using cloud-based solutions, your employees are able to access their own pay stubs, and your business is never at risk of losing important documentation. Hiring a professional who offers experience with modern payroll and benefits technologies can help ensure you invest in the best implementations. This also means you will have someone on your team who knows how to take full advantage of all your technology’s useful functions.
Increase bandwidth for employees
Relying on a current employee in a managerial role to take care of payroll and benefits can mean falling short in other areas. Proper financial management is practically an everyday task, and must be a top priority to ensure your employees are paid on time. The individual in charge of payroll and benefits must be accessible at all times so that employees have someone to go to in the event of a discrepancy. Ultimately, these responsibilities can take up a lot of bandwidth for business managers. Hiring a designated payroll and benefits administrator means that your employees will have someone to go to at all times with questions about their pay or benefits packages. This will leave your existing staff members with more bandwidth to fulfill other elements of their professional roles.
Optimize benefits packages
If you do not have any prior experience putting together a benefits package for a professional team, this can be an extremely overwhelming task. Understanding where best to allocate resources for the well-being of your staff takes extensive knowledge in the field. A payroll and benefits administrator will be able to offer their expertise on the subject, and recommend the most important benefits to include as a part of your employee coverage.
Our team at H2H Enrollments strives to make your internal systems flow in the most convenient, intuitive manner possible. Contact us today to get started.