Keeping on top of the ins and outs of compliance is hard, time-consuming, high-stakes work. It’s worth it to make sure you have an in-house team or a partner dedicated to keeping your payroll services running smoothly and accurately.
Legal Considerations
It’s hard to think of a higher-stakes aspect of business than where the money goes and how it gets there. Your in-house team or partner needs to do the following:
- Mitigate compliance risks
- Be aware of practices that could compromise compliance
- Track benefits eligibility
- Track changes in minimum wage, overtime, and sick leave policies in each state
Quick And Accurate Payment
Payroll operates at its smoothies when all of the following are in place and functioning well:
- Online management: Employees can log hours and supervisors approve them—all online—without the need for actual paper.
- Payment is fast and accurate: A smoothly-functioning system to track overtime, submit time cards, and obtain supervisors’ approval.
- Benefits eligibility: There is a process in place to know when employees become eligible for benefits.
The Bottom Line
Everyone is trying to figure out labor laws and fair pay. The gig economy and the worker classification challenges it brings to the forefront are top-of-mind topics for the government, employers, and employees alike.
PayReel knows the biz and the people in the biz. We are ahead of the game with every possible change and are ready to research and take the necessary steps. We stay up to date on payroll regulations and assist clients in navigating the increasingly complicated waters of payroll services.
If you think you might need a partner, rest assured the PayReel team is on top of following all regulations, rules, and federal and state laws. In a nutshell: We stay ahead of the curve so our clients never even have to think about payroll services and compliance.
The post Here’s How to Keep Your Payroll Compliant When Laws Change appeared first on PayReel .