How To Develop & Implement A Scalable Payroll Process

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When profitability is rocketing and business is booming you need to make sure your company is well equipped to manage the growth. Your time shouldn’t be tied up managing your ever growing payroll system; it should be free to capitalise on every opportunity as it arises. Developing and implementing a scalable payroll process will allow your company to grow along with your payroll system. This means you can focus your energy on growth and progression while confident that your payroll process continues to be fit for purpose. 

Standardise and Synchronize

Before you begin the development of your new scalable process you’ll need to review all of your current policies and procedures surrounding payroll. Inconsistent information or applications along with inefficient workflow will need to be amended and standardised when you’re developing your new process. For example, if you’ve added overtime payments to employees from one department and not another, then all this information will need to be synchronised. Now all your information is streamlined you’ll need to consider the different systems that you use for time keeping and attendance. Introducing payroll software that combines all these variables will save you time, money and allow for development and growth without any hiccups. 

Consistent Reporting

Consistent reporting is a necessity for a scalable process. A single system allows all teams, both internally and externally, to utilise the same processes and integrate their ways of working regardless of size and complexity. The Australian Taxation Office requires heaps of information monthly, quarterly and annually and if you fail to provide it you could see a large fine falling through your letterbox. Information relating to tax, salaries and super payments could be requested at any time, as well as your regular reports so you need to make sure you can provide accurate, consistent and easily accessible information for the ATO at the drop of a hat. 

Achievable Time Frame

There’s no point in putting yourself under any unnecessary pressure so make sure you set achievable goals with realistic time frames. Break your large tasks down into small steps that you’ll need to take to implement your new process and set a time frame for each that you know you’ll be able to meet. Account for external events and planned staff absences so you can take your time and be thorough when it comes to creating your new method. You’ll be grateful for allowing yourself ample time as the process will be less stressful and you’ll be confident that you’ve covered all bases.

Be Transparent

Any change, regardless whether it’s positive or negative, can be difficult for staff to manage. Alleviate irrational anxiety and set your employee’s minds at rest by being transparent throughout the whole process. Arrange a staff meeting once you’ve reviewed your current process and explain what will change, if it will have an impact on them and why you’ve made the decision to update. Staff are more likely to be on board with any change if they know the rationale behind the decision. Creating a simple training package or setting up an additional question and answer workshop could also be key in supporting your staff to embrace the change.

Summary

Now you have all the information you need to develop and implement your new scalable payroll process, what’s stopping you making the move towards a more efficient system? One last tip- don’t forget to review your process regularly, make sure it’s keeping up with your ever growing and successful business.