Posted 3 years ago - by

Why an Online Payroll Software Is a Prudent Option for Small Businesses Who Want to Thrive Despite COVID-19

The COVID-19 pandemic is forcing owners and in-house HR professionals of small business to address changes left and right, most notably legislation changes implemented one after the other in an effort to shore up the economy and keep businesses afloat and as many employees as possible retained on their respective employers’ payrolls.

Legislation or otherwise, most of these changes affect small businesses’ payrolls as applications are filed for government subsidies and relief packages, calculations are adjusted to factor in new sick pay and leave entitlements, and varying numbers of employees are placed on furlough or downright laid off. Whatever your business’s specific set of workforce management and payroll modifications, they must align with the new legislation that apply, which means you and your HR team have to stay on top of the latest changes.

Chances are, if your in-house HR team consists of just one or two people, maybe three if you dabble in HR work as well as run the entire business, the entire team is running ragged, yourselves ragged as you juggle payrolls and paid leave codes, loan applications, compliance checks, and your respective personal COVID-19 contingency measures.

Quick question: Is your payroll even automated?

These chaotic times are not for a good time to be making payroll mistakes and risking penalties (even if the IRS may be predisposed toward a certain degree of leniency).

These are also not the times to be distracted (even though that is understandable).

Rather, times like these require absolute concentration—or as close to absolute as one can get—and a can-do attitude in order to successfully steer your business out the other side of the pandemic.

If you are not using an online payroll software yet, it’s prudent to use one now. Here’s why:

1. You will be saving on payroll processing costs. Contrary to common fears, online payroll software is inexpensive. And Even more so when you consider the speed with which it gets your calculations, recordkeeping, and updates done. Especially when this technology is backed by a team of payroll service professionals.

2. An online payroll software will automate your processes and give you time (often convertible to money), which you would otherwise spend laboring over your payroll along with your HR team, to use actually running your business with as little distraction as possible. Your HR team will have more time implementing improvements in areas like recruiting, hiring and training, continuing education, as well as perks and rewards for your company.

3. With automation on your side, you can focus on brainstorming ideas to keep your business above water. Better yet, you can tease ideas out of the box and maybe, just maybe, steer your business the rest of the way through with relative ease.

4. An online payroll and HR software, especially if backed up by consistent human support who are well versed in all things HR and payroll, will ensure that you avoid painful penalties brought on by payroll errors induced (understandably) by coronavirus-related distractions.

You may be focused mainly on surviving the COVID-19 crisis right now, and so are millions other small business owners. But here’s something else you may want to fix your focus on instead: thriving. It’s possible to do so, especially with a payroll service provider who is not afraid to go through the tough times with you.

Let’s work together to figure out how to do just that. Contact Payroll Systems for an introduction to your payroll specialist, and your payroll software.

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This article provides general information and shouldn’t be construed as legal or HR advice. Since employment laws may change over time and can vary by location and industry, please consult a lawyer or HR expert for advice specific to your business. You can also contact Payroll Systems to inquire about our HR support services.