A good payroll system program can help build a strong company. Unfortunately, the inverse is also true. Investing in a bad payroll software system can have negative effects on your company’s performance. Bad or imperfect payroll software can also influence your employee morale throughout the company. Make sure to focus an appropriate amount of your energy on finding good payroll software. In doing so, your company can avoid the following major risks.
Developing a Bad Company Reputation
Payroll software systems can financially help or hinder your business. If you put in place a bad software program, you may cost your business more than money. Employees can spread word about your company if you do not pay them accurately or in a timely manner. Strive to avoid any delays with your payroll system program.
Delays, first and foremost, will result in employees holding a negative view of you, the employer. Additionally, they will likely either regard your company as poorly managed or worse, financially unstable. Once they tell prospective employees, few people will view your company as reliable.
Struggling with Employee Retention
SD Worx conducted a study in 2017 that looked at employee retention following unreliable payroll practices. The study revealed that 44% of the employees surveyed would consider leaving their position after they were paid an incorrect amount. On top of that, 79% of the respondents identified the payroll issue themselves.
These figures make you wonder how many more people might leave their job if everyone knew the full extent of a company’s payroll errors. Mismanaging payroll is clearly not something your company can view in a casual way. That is why finding a good payroll system program can help your company thrive. You can make sure to set deadlines so that you know when it is time for you to run your next payroll cycle.
Having Difficulty Recruiting New Workers
It is not hard to understand why employee engagement drops due to payroll errors. Employees rely on timely payroll so that they can make rent, pay bills, or simply live their daily lives. These employees will only grow more disengaged and resentful of your company if you avoid addressing ongoing payroll concerns. However, current employees are only part of the equation. Your company will have a difficult time attracting new talent with a bad work culture. Therefore, make sure that you understand your company’s payroll needs from the business’ start.
How Does AMS Software Work?
Our payroll system program is ideal for meeting all of your small business payroll software needs. Unlike cloud based software, our users do not need to worry about data leakage or external threats. Our disc-based product creates an SSN Verification file. We also strive to minimize your time spent filing paperwork. You can export your payroll data to our W-2 and 1099 Forms Filer. Once you do that, a few simple clicks will let you produce year-end W-2 and/or 1099 forms for your workers.