Can a tiny piece of Pay stub add devilish costs to my organization?!?
The pace & volume of modern change is focusing attention on ways human resource activities can be used to ensure organization members have what it takes to successfully meet their challenges. From personal HR to Strategic HR, this field has become the prime focus area of top management. Generating value additions is the buzz word and contributions from this department and not limited to talent pool alone. This goes on to show that the functional area is not just to get the best in human resources but also optimizing operations to boost the bottom line of the organization.
That leads us to the nitty-gritty of the whole HR business. Organizations today want to position their business for profitable growth and look relentlessly for web-based, integrated workforce automation solutions that would function smoothly with their existing business systems.
The aim is to move away from largely manual and paper based business processes to consolidating vital organizational data into a centralized location, used as a repository that can then be easily used and maintained. The challenge is to achieve all this without experiencing a corresponding increase in administrative and accounting staff, thereby achieving the desired economies of scale.
When it comes to cutting more fat from operations, often the most insignificant details have the most surprising outcomes. So, the vital issue here is how to know where to start from for optimizing on costs and related overheads. One way to go about doing this whole business is to hunt for the devil in the details of existing practiced processes.
Take for example, Pay Stubs. This tiny piece of paper can be draining millions of dollars from your organization, without you even having a hint about it.
Traditional pay stubs come with a host of hidden costs. Here is what I found from one of the white papers published at iEmployee website. Titled "Online Pay Stubs Reduce Costs by 90%" it is a
detailed financial case giving insights to where the cost demon is hiding and how to nail it down.
Here are some of the revelations. You are paying people to stuff the envelopes and process the mailing of the stubs. Add to this, postage cost to mail the stubs to the employee's home or to another corporate location. Do not miss the delivery cost if your organization's internal mailroom has to process the stub, again using a salaried employee. Top all these costs with a storage cost for all of the paper documentation.
And if a pay stub is lost, there is the reproduction cost to do it all over again, not to mention the time spent on the phone handling the problem. Does all this raise your hair!!!! Mine did.
Most of the payroll departments are spending $1.90 on average in processing a pay stub for a single employee! The free white paper gives convincing solution to achieve 90% reduction in payroll processing expenses for a single employee. For having better understanding, I would suggest that you take time out and read this paper at Free Online Pay Stub White Paper. It has helped my organization, same might be true for you too
Time Shaving Abuses
Fords NJ (ContentDesk) April 7, 2004 -- Documentation is the best defense against the payroll abuse known as time shaving. So said Norman Heinle, President of Datamatics, Inc. in response to a front page story in The New York Times dated April 4, 2004 which detailed recent instances of time shaving at a number of leading companies.Time shaving occurs when managers reduce the number of hours worked by employees, sometimes with a few quick keystrokes on a computerized record. According to the Times article, time shaving has occurred over the last few years in several well known businesses, including Toys "R" Us, Pep Boys, Taco Bell, Wal-Mart, and Family Dollar. Such conduct is patently illegal, and the companies profiled in the story had policies in place forbidding the practice.What causes this increasingly common problem is the intense pressure on managers to control costs and increase productivity, especially in industries that are historically low margin.
Adding to this pressure...
Time Shaving Abuses
Payroll > Time Shaving Abuses
Innovene Selects ARINSO as Partner for its Global SAP Implementation and as Global Payroll Services Provider
Atlanta, GA (ContentDesk) September 9, 2005 -- ARINSO International (EuroNext Brussels: ARIN), a leading provider of HR services, announced today a new contract with Innovene, one of the largest petrochemical companies in the world. Under this contract, ARINSO will partner with Innovene to deliver a global HR SAP platform and Payroll services for more than 8,000 employees across North America, Europe and Asia.The solution will be based on ARINSO's euHReka? platform and will be subject to national labour law provisions, in particular co-determination rules. Within the framework of the recently signed Arinso / SAP HR BPO partnership program, ARINSO has developed a pre-configured and standardized platform supporting all HR processes (including multi country payroll), enabling customers to benefit from high quality and cost-effective HR service delivery with an on-demand pricing approach. EuHReka? brings substantial competitive advantages in terms of reliability and quality of HR Service...
Innovene Selects ARINSO as Partner for its Global SAP Implementation and as Global Payroll Services Provider
Payroll > Innovene Selects ARINSO as Partner for its Global SAP Implementation and as Global Payroll Services Provider
Tango Marketing Announces Newsletter For Sage Abra HRMS Software
Edmonds, WA (ContentDesk) August 1, 2005 -? Tango Marketing, LLC today announced the immediate availability of its Sage Abra HRMS newsletter, *info for Sage Abra HRMS. The quarterly newsletter is a turnkey marketing communications tool allowing Sage Software Authorized Partners to effectively and efficiently communicate with clients, prospects, and alliance partners.This issue of *info for Sage Abra takes a look at the new Sage Abra HRMS Version 8.0. Three additional informative product-related articles focus on: Sage TimeSheet?Abra Edition, eRecruiter, and Sage Payroll Services.Sage Abra HRMS Version 8.0 introduces support for multiple database platforms, including Microsoft SQL Server (MS SQL), Microsoft Desktop Engine (MSDE), and the existing Visual FoxPro. The article highlights the advantages of each platform as it relates to Sage Abra users, and explains the upgrade procedure.Sage TimeSheet?Abra Edition software allows employees to enter their own time and expense data over the...
Tango Marketing Announces Newsletter For Sage Abra HRMS Software
Payroll > Tango Marketing Announces Newsletter For Sage Abra HRMS Software
Lorman Education Services Presents "Goodbye Medical Savings, Hello Health Savings, Health Reimbursement And Flexible Spending Accounts" on October 27, 2005
(ContentDesk) September 22, 2005 -- Lorman Education Services presents "Goodbye Medical Savings, Hello Health Savings, Health Reimbursement And Flexible Spending Accounts" on October 27, 2005.This "Goodbye Medical Savings, Hello Health Savings, Health Reimbursement And Flexible Spending Accounts" seminar will cover Current trends in healthcare, FSAs, HRAs,and HSAs.The seminar will compare and contrast not only FSAs (flexible spending accounts), but two plans that are less than two years old, i.e. HRAs (health reimbursement arrangements) and HSAs (health savings accounts). The seminar will concentrate on WHICH plans to use, WHEN you would use them, and WHY you would use one plan and not the other.Steven J. Jackson is regional services manager of PrimeFlex for PrimePay, the largest privately owned payroll and business services company in the country. After graduating from Taylor University, Mr.
Jackson has spent his entire professional career working with employers on wealth preservation...
Lorman Education Services Presents "Goodbye Medical Savings, Hello Health Savings, Health Reimbursement And Flexible Spending Accounts" on October 27, 2005
Payroll > Lorman Education Services Presents "Goodbye Medical Savings, Hello Health Savings, Health Reimbursement And Flexible Spending Accounts" on October 27, 2005
Trustfile Acquires FormsPlus Software, Inc.
Baton Rouge, La.(ContentDesk) October 15, 2003 ? Trustfile, a company with nearly 20 years' experience in business-tax filing, agreed to acquire the sales tax, property tax and unemployment tax software programs of Atlanta-based FormsPlus Software, Inc.
The combination of FormsPlus Software's products with Trustfile's other state business tax e-file products will broaden the choices available to Trustfile's business customers.
"Trustfile has years of experience and already serves thousands of businesses in Florida, South Carolina and Tennessee, and we have recently launched Wisconsin," said Trustfile President King Woolf.
"The FormsPlus acquisition helps to pave the way to serving more customers that file business taxes in every state of the U.S."Trustfile benefits
Trustfile offers software and a tax-processing system that allow businesses and tax preparers (CPAs) to quickly and efficiently prepare, file and pay state business taxes electronically.
Payroll > Trustfile Acquires FormsPlus Software, Inc.
California Payroll Launches IN-T-GREAT | W.COMP, A Workers? Compensation Reporting and Payment Service
Brentwood, CA (ContentDesk) September 14, 2005 -? California Payroll announced today the availability of IN-T-GREAT | W.COMP, another integrated solution offered through the company's employer services division, IN-T-GREAT. IN-T-GREAT | W.COMP Reporting and Payment Service is a convenient and efficient solution designed to reduce administrative expenses and help clients maintain accurate workers' compensation calculations.With most workers' compensation coverage, large premium deposits, based on estimated payrolls, are paid in advance.
However, with IN-T-GREAT | W.COMP, workers' compensation premiums are calculated as they are earned, then automatically paid to the insurance carrier.
"Clients will notice an immediate improvement in their cash flow since IN-T-GREAT | W.COMP eliminates the large premium deposits they are required to make for their workers' compensation coverage," stated Henry Lonsdale, President of California Payroll.
"IN-T-GREAT | W.COMP frees...
Payroll > California Payroll Launches IN-T-GREAT | W.COMP, A Workers? Compensation Reporting and Payment Service