The Value of Employee Self-Service Tools at Tax-Time
With tax season around the corner, how can you provide employees with the tools they need to be independent during this time of year? Do you have a payroll system in place that streamlines the information gathering and tax reporting process for your employees? If not, you might want to consider the time and money saving advantages employee self-service tools can provide for your business.
A Win-Win For Employees and The Business
Owners and managers of small or mid-sized businesses often take on multiple roles. Frequently these roles include HR and payroll responsibilities. And particularly around tax time, these responsibilities can be overwhelming. So, finding efficient ways to manage personnel concerns can make a huge difference in the amount of time available to focus on other things that drive the success of your business.
Of course, every good business leader knows that employees are the business’ most valuable asset. But that doesn’t mean that HR and payroll concerns need to dominate your time and energy. With the proper payroll management tools in place, addressing common and repetitive HR or payroll issues no longer needs to occupy your time and efforts which are better spent on other matters. This can become especially true during tax-time when employee questions about things such as pay rates, copies of W-2 forms, and tax withholding amounts can be very time-consuming. Now, when employees want to get all their ducks in a row for tax season, they will be able to change their tax filings during the year, receive their W-2 digitally, and so on.
One of the best and easiest solutions to provide efficient HR and payroll management is to implement a payroll system that offers Employee Self-Service (ESS). ESS is an online tool that takes the responsibility for many of the basic HR and payroll management duties off the shoulders of business owners or payroll staff and places it with the employees. This is a great example of employee involvement that serves to meet their needs and alleviates an unnecessary burden on HR and payroll professionals to address simple, yet time-consuming, requests. The employee can update information at any time and the business doesn’t have to spend additional time on employee requests.
Key features – Employee Self-Service Tools allow employees to:
- Update personal data such as address changes, direct deposit information, and withholding exemptions on their tax forms
- Look at pay statements at any time without making a special request to HR or payroll staff members
- Pull W-2 forms and print additional copies (especially important at tax-time)
Overall Business Benefits of ESS:
- Saves the business time and money on HR paperwork, information updates, and payroll requests
- Reduces redundant data entry and errors when employees can directly input their own new information
- Helps employees feel engaged and empowered
- Frees business owners and managers to place more focus on strategic business development and employee recruiting and retention
- Increases overall company morale and productivity
Advanced Payroll Systems would love to help you put your time to the best use for your business. If you’d like to explore the advantages of offering a payroll system with ESS to your employees, just get in touch with us for a free evaluation. Contact APS today!