2022 is nearing its end, the time to prepare for the Festive Season is here. We are sure you’ve seen the Christmas decorations in the shops and heard the festive jingles already! Don’t let your Payroll and HR team be swamped by paperwork during the rush!
While some companies experience a short month during December, others are experiencing their busiest period. Here are five ways companies can keep ahead of the festive rush and streamline their Payroll processes.
- Inform Your Employees
Companies need to inform their employees about any forced leave during this period if the company closes. The end of the calendar year marks an exciting time for employees who often expect bonuses. If the year has not been profitable let your employees know in advance so that they can prepare for their busy period without the extra injection of cash.
- Set Deadlines
Deadlines motivate people to do what’s necessary to make sure they adhere to what’s required. Informing employees of their allocated leave and setting deadlines for leave submission and setting bonus deadlines for your Payroll managers early will ensure they have sufficient time for processing. Companies can then allocate resources to prepare.
- Forced Leave or Open for Business?
Companies, particularly in the construction industries, experience mandatory shutdowns, forcing employees to take leave during this period. These employers are permitted to require employees to take their annual leave during this period, if employees do not have sufficient leave days accrued then their negative balance of leave days will be unpaid leave.
- Prepare for Bonuses
Bonuses are typically paid during a different pay run. Companies need to prepare for lump sum payments to employees, consider paying these in November to avoid cashflow stresses in December.
Manual submissions become overwhelming and mistakes can happen which can unsettle employees. Leave is recorded more accurately if it is captured through an automated system. Payroll software allows HR and Payroll functions to control every aspect of the payroll process including:
- Automating payroll runs
- Calculating employee’s leave balances and leave transactions
- Factoring in public holidays
- Accommodating for companies that operate on a five or six day work week
- Sending online payslips
- Updating employee profiles in real-time and much more.
The Sage products LSPinc implement have been extensively designed to streamline and automate the payroll process to increase productivity, drive growth and empower your people.
Contact them for a solution that keeps you in the festive spirit.