Need to build a strong case for a unified payroll solution? These tips can help.
When you want to convince upper management to embark on implementing an automated payroll solution, it’s not enough to tell them it’s better, or easier. You have to show, in detail, how the project can save time and money, solve problems, and reduce risk. How? Follow these four steps:
Step 1 | Define the business impact.
First, you must identify the costs and the potential for cost reductions. Keep in mind that these aren’t just hard costs. Think in terms of soft costs, such as freeing up your employees for more strategic initiatives, as well. Use these five key areas to help build your case.
Payroll errors. According to the 2016 Getting Paid in America Survey, 25 of respondents are less than confident their payroll withholding and net pay are correct each payday. When employees are uncertain about the accuracy of their pay, they lose confidence — which can negatively impact productivity and engagement. Payroll productivity. Tight budgets are getting even tighter, and administrative personnel are being asked to do more with less. Payroll is one area that can take advantage of streamlined processes, fewer manual processes, and less data entry.Self-service. Employee self-service capabilities contribute to a productive, highly engaged workforce. Employees will feel empowered by having the data they need, and the payroll staff will be less burdened and more engaged.Total cost of the current system. Many organizations don’t realize the costs involved in the current system could add up to more than the cost of a proposed new payroll solution. Switching from a system with a low degree of automation to one with a high degree can save over 60 per head every payroll period.Compliance risk. Organizations face an enormously challenging regulatory environment that almost requires a highly automated solution. Constantly changing legislation and regulations expose payroll to the risk of noncompliance, with costly fines and damage to credit ratings.
Step 2 | Establish the business need.
Once you’ve defined the business impact, it’s time to provide a complete view of what will be gained with a new payroll system. Focus on the core six benefits/business drivers.
1. Increased Compliance and Control
2. Reduced Payroll Error
3. Elimination of redundant and time-consuming manual data entry
4. Reduced costs through mobile and self-service
5. Improved payroll reporting
6. Increased employee engagement
Step 3 | Identify stakeholders and gain support.
Once you’ve identified the business drivers and defined the purpose for the change, you need to gain the support of key stakeholders and decision makers.
Payroll processes affect every person in the organization. That’s why it’s crucial to get buy-in from different roles and departments. Key stakeholders include everyone from administrative and HR professionals to managers and C-suite executives.
Step 4 | Finalize your case.
Now you’re ready to complete your business case. Make sure you’ve linked each new technology improvement to a business benefit — how the new technology directly connects to an actual benefit for the company and the company’s goals. Quantifying the benefits in terms of staff resources and allocation, reduced costs, improved productivity, and increased employee engagement not only shows how your business case supports end-to-end payroll processing, but also how it helps the company improve profitability.
Want more insights into how to build your case for a unified payroll solution?. And call us today at 214-800-5575 to learn more about Workforce Go! HCM, our automated workforce platform that handles all your workforce needs – from time and attendance to payroll, HR, and more.