Technology in Total Rewards

Payroll

Most HR and Total Rewards professionals are well versed in payroll technologies, processes, compliance and related tax considerations. Although not typically in the HR functional scope of responsibilities, payroll quality and automation are directly tied to total rewards programs in that they:

• Produce accurate, timely payrolls with direct deposits to employee bank accounts.
• Comply with ever-changing tax laws through quarterly updates, including tax tables.
• Provide PC and Internet payroll, web reporting, time tracking systems, and access to employee benefit programs.
• Access W-2 and W-4 forms and payroll history.
• Meet all state and federal reporting, payroll stub, and tax filing requirements.
• Are an easy-to-use alternative to paper paychecks enabling all employees to be enrolled in direct deposit, regardless of an existing banking relationship.
• Make global payroll solutions possible.

Some organizations choose to outsource payroll to an automated service provider to be certain they have:

• Accurate, timely payroll and unlimited direct deposits
• Instant compliance with ever-changing tax laws
• Automatic tax filing and meet state and federal reporting requirements

Repetitive payroll tasks can be automated by AI and, for an organization that has a global presence, it can assist with ensuring compliance with regulations in countries where it has operations.