Does Your Payroll System Need a Change? 4 Tell-Tale Signs

Technology is evolving every day, but some functions like payroll generation and making a pay stub are still endeavouring to keep up. Many companies rely on paper payroll, while several use Excel spreadsheets. While maintaining status quo can be tempting, are you sure that your current payroll processes are optimal? In today’s fast-paced business landscape, things can quickly become outdated—unless they are upgraded from time to time.

Signs That Your Payroll System Must be Changed

If you haven’t reviewed this key business activity in some time, watch out for these signs:

1. Your employees seem dissatisfied

Do your employees keep demanding better payslips from you? Possibly, they want more detailed records to share with tax authorities, insurance companies, etc. Frequently, paper payslips do not offer as many details or offer as clear a template as some online paystub makers.

Another common source of employee dissatisfaction is the need to manage too much paperwork. Documents pertaining to finance, personnel, etc., can really add up over time and accentuate the stress of an already hard-pressed working day.

2. Your HR department is going through changes

This is truer in small organisations with a one-person HR team; many small business owners manage payroll by themselves. In such setups, if your HR manager resigns, is taken ill or otherwise unavailable to process payroll, the situation can quickly worsen. Not being able to share real check stubs on time can lead to employee grievances, delays in filing taxes, and, eventually, troubles with IRS. If, on the other hand, you rely on an electronic generator, your dependency on personnel reduces sharply. In fact, while human resources have an indispensable place in an organisational setup, digital payroll often makes things simpler for them.

Bonus: While hiring financial experts and accountants can be a major investment for small businesses, digital check stub maker can be much cheaper. For instance, StubCheck.com lets you create regular pay stubs using our paystub generator at only $3.99 a piece.

3. You are facing problems with paper payroll

Paper-based payroll has been popular since times immemorial. Even today, in an increasingly digital world, it has retained its niche in many organisations. However, there is no denying that paper payroll amounts to a lot of time and effort in payslip generation and storage. The chaos of the modern world can make your payroll susceptible to climate-change concerns, fires, losses by HR personnel and other employees, etc. If you find paper payroll triggering frequent crisis situations in your company, it could be time for a change.

4. Too much time gets wasted in departmental coordination

Companies that use paper payroll often require employees to coordinate extensively with the HR/Finance department. In the absence of the required personnel, employees can face delays in receiving important records for urgent purposes like claiming insurance. This, in turn, wastes precious business time. Using an online tool like StubCheck.com can eliminate such delays as employees can easily access their financial records in their e-mail inbox. You can even get the first check stub free.

Switching your existing payroll system to a digital one is a significant decision with multiple repercussions. Understandably, it is a choice you should make with careful thought. However, if your business is displaying the above tell-tale signs, chances are you stand to benefit from the move.