• About
  • Contact
  • Testimonials
  • Newsletter
  • More
    • Demographics & Advertising Rates
    • Terms & Conditions
Sunday, March 26, 2023
No Result
View All Result
California Business Journal
  • Front Page
  • Business
  • Finance
  • People
  • Featured
  • Opinion
  • Technology
  • Law
  • News
  • Food
  • Art & Culture
  • Human Interest
  • Education
  • Insurance
  • Real Estate
  • Health & Fitness
California Business Journal
technology-changing-payroll

The Future of Payroll Is Employee Self-Service

How one forward-thinking payroll company is changing the way the world runs payroll.

by Jackie Crowley, California Business Journal
A A
Share on FacebookShare on Twitter

Here’s why employees should do their own payroll:

“My check is wrong!” How often do payroll professionals get caught in the middle of “mistakes” that are simply breakdowns in communication? Whether a manager forgot to tell Payroll that someone was due a bonus or a reimbursement or whether established procedures were simply not followed, there always seem to be occasions of employees being unpleasantly caught off guard by their pay statements. These oversights leave a bad taste employees’ mouths and make them feel under-prioritized and undervalued.

Employees’ level of visibility into how their checks are calculated may also directly impact the amount of trust and loyalty they feel toward their employer. Research shows that employees value employer transparency and are even more engaged and trust their employers more when transparency is greater. One survey even found management transparency to be the number one factor in employee happiness. This includes visibility into business strategy, practices and processes (like payroll).

The New Way to Approve Payroll

Paycom has engineered a brilliant, yet surprisingly obvious solution to this problem: Have the employees approve their own automated payroll process. Companies already have employees approving their time sheets and managing their own requests for benefits enrollments, expense reimbursements and time-off requests, so it makes sense to allow employees to be the first set of eyes to approve their own pay statements prior to the payroll quality check and submission. This strategy also fosters a culture of transparency and accountability that encourages employees and managers to close the loop properly with Payroll.

This solution is called Beti, and Paycom touts that Beti can result in:

ADVERTISEMENT

● improved data accuracy (fewer direct deposit reversals and less reentry of data)
● reduced employer liability (fewer payroll funding fees for corrections and adjustments)
● increased process oversight
● unparalleled employee insight into their pay

The cost savings in reduced overhead hours are also a huge benefit. By reducing or eliminating manual corrections and all of the back and forth correspondence between Payroll, managers and employees, companies can save a significant amount of time and money.

One current Paycom customer shared her experience with us:

“We had probably 15 to 20 post-payroll changes, but now we’re able to do it on the front end, and with Beti, it was fantastic. I loved it. We were able to submit our payroll on Tuesday morning this week. So that’s already taken off, probably a day and a half of our process,” according to VP of HR in a 350-employee auto rental company.

The employee experience is also top of mind with Beti, as Paycom’s mobile-friendly platform also allows employees to review and approve their payroll from any mobile device.

Solutions like Beti are a win-win for companies and employees. By empowering employees to approve their own payroll, employers can increase transparency and improve employee engagement, accountability and trust. Employee self-service payroll also reduces company overhead costs, errors and liability.

Related Posts

payroll expenditure or revenue
How Can a Business Carry Out Payroll Effectively?
How to Choose a Global Payroll Provider
How to Choose a Global Payroll Provider
Jim Downes1
The Blueprint for CFO Services
Fintech
The Parabolic Rise of Fintech in 2022
Why Kronos Implementation Eases Business Operations
Why Kronos Implementation Eases Business Operations
Tags: benefitscompanycost savingsculturedataemployeesfundingHRimproveloyaltymanagermobilepayrollreimbursementssavingssolutionThe Future of Payroll Is Employee Self-Servicetransparencytrustvalue
ADVERTISEMENT
Jackie Crowley, California Business Journal

Jackie Crowley, California Business Journal

Related Posts

Why Kronos Implementation Eases Business Operations
Why Kronos Implementation Eases Business Operations
How to Choose a Global Payroll Provider
How to Choose a Global Payroll Provider
Fintech
The Parabolic Rise of Fintech in 2022
Jim Downes1
The Blueprint for CFO Services
payroll expenditure or revenue
How Can a Business Carry Out Payroll Effectively?
advertisement
ADVERTISEMENT
1REALTOUR-SAN DIEGO-WEB DESIGN

Commercial Relationship Manager 3, Wells Fargo Bank, N.A., Los Angeles, California:

Represent the bank in developing and maintaining client relationships within middle market and mid-corporate banking.

Position requires a Bachelor’s degree in Business Administration, Finance, or related field and 3 years of experience. Requires up to 20% travel.

To apply, send resume to recruiter_inbox@wellsfargo.com and reference Requisition # 000329 in the subject line.

Facebook Twitter LinkedIn LinkedIn Instagram Youtube
C B J   LOGO  SVG-01
  • About
  • Contact California Business Journal
  • Testimonials
  • Demographics & Advertising Rates
  • Terms & Conditions

Categories

  • Art & Culture
  • Business
  • California Hotel Listings
  • Daily Updates
  • Editor's Choice
  • Education
  • Featured
  • Finance
  • Food & Dining
  • Health & Fitness
  • Human Interest
  • Insurance
  • Law
  • Lawyers
  • Marketing
  • Medical
  • News
  • Newsletter
  • Opinion
  • People
  • Popular
  • Real Estate
  • Social Media
  • Technology
  • Uncategorized

CBJ Partner Firebrand Media

Laguna Beach Independent Newspaper
 Laguna Beach City Guide
 Newport Beach Independent Newspaper
Newport Beach Country Club Magazine
  Montage Magazine
 Omni Escapes Hotel Magazine
 Bespoke Concierge New York
 Evans Hotels
 Laguna Beach Magazine
 On The Menu Laguna Beach
 Newport Beach Magazine
Coastal Real Estate Guide (NB,LB, CDM)
Monarch Beach Resort Magazine
 Pacific Coast Magazine (SoCal)
Sea Island Life Magazine
Salamander Hotel & Resorts Magazine
 View our entire portfolio

 

Most Viewed

  • Gavel, scales of justice and law books

    Lawsuit Basics: How Much Does It Cost to Sue Someone?

    0 shares
    Share 0 Tweet 0
  • Investigation: Can TriumphFX Take Your Money?

    0 shares
    Share 0 Tweet 0
  • The Impact of Covid: Racing to Buy Second Citizenships

    3 shares
    Share 0 Tweet 0
  • What to Do When an Online Casino Refuses to Pay Out Your Winnings

    0 shares
    Share 0 Tweet 0
  • The Truth About Temu: Where Is It From?

    0 shares
    Share 0 Tweet 0
  • Top 5 Flavors On Elf Bar BC5000 Review

    0 shares
    Share 0 Tweet 0
  • NFL Paychecks: How Do NFL Players Get Paid?

    0 shares
    Share 0 Tweet 0
  • Temu’s New Shipping Policy Is A Smashing Hit For Shoppers All Over the Country

    0 shares
    Share 0 Tweet 0
  • Five Reasons Why The Government Does Not Like Bitcoin

    0 shares
    Share 0 Tweet 0
  • How to Start a Telecommunication Business: A Step-By-Step Guide

    0 shares
    Share 0 Tweet 0

Latest Articles

Can You Trust Temu on Facebook and its Referral Games and Rewards?

Can You Trust Temu on Facebook and its Referral Games and Rewards?

Shoe Packing Isn’t as Easy as You Think on Moving Day

Shoe Packing Isn’t as Easy as You Think on Moving Day

How to Prepare Your Home for a Successful Sale

How to Prepare Your Home for a Successful Sale

Is It Possible to Track Facebook Messenger Secretly?

Is It Possible to Track Facebook Messenger Secretly?

How To Date Over 60 Successfully?

How To Date Over 60 Successfully?

BioLargo’s PFAS Treatment Technology Meets EPA’s Proposed New Drinking Water Standards

BioLargo’s PFAS Treatment Technology Meets EPA’s Proposed New Drinking Water Standards

7 Factors to Consider While Picking the Right Freight Carrier for Your E-Commerce Business

7 Factors to Consider While Picking the Right Freight Carrier for Your E-Commerce Business

The Marketing Effect On Healthcare and Wellness Organizations

The Marketing Effect On Healthcare and Wellness Organizations

5 Reasons Why E-Commerce Businesses Rely So Much on Third-Party Logistics (3PL) Services

Why E-Commerce Businesses Rely So Much on Third-Party Logistics (3PL) Services

Making The Smart Choice: Why You Should Shop Online For Best Selling Products

Making The Smart Choice: Why You Should Shop Online For Best Selling Products

California Business Journal | California Business News, California News Media, California business articles | Orange County, Los Angeles, San Diego, Inland Empire, Northern California, San Francisco | Huntington Beach CA 92649 | (949) 648-3815
ALL RIGHTS RESERVED BY CALIFORNIA BUSINESS JOURNAL.
Site Design by 1REALTOUR

No Result
View All Result
  • Front Page
  • Business
  • Finance
  • People
  • Featured
  • Opinion
  • Technology
  • Law
  • News
  • Food
  • Art & Culture
  • Human Interest
  • Education
  • Insurance
  • Real Estate
  • Health & Fitness

California Business Journal | California Business News, California News Media, California business articles | Orange County, Los Angeles, San Diego, Inland Empire, Northern California, San Francisco | Huntington Beach CA 92649 | (949) 648-3815
ALL RIGHTS RESERVED BY CALIFORNIA BUSINESS JOURNAL.
Site Design by 1REALTOUR