Accurate payroll reporting is vital to your company and its employees. Your staff relies on their wages to pay bills, support families, and create lives for themselves. Your company counts on reporting to be accurate so that money isn’t misspent. Everyone, from the newest, entry-level hires to the top members of management need every payroll calculation to be accurate and precise.
How can you ensure that your agency is handling payroll to the best of its ability? What are the reasons for doing so? Here, we examine the many important reasons to invest in a reliable, automated payroll system – or to integrate such a system into your existing call center software.
Fair Pay for Your Agents
Your agents are your company’s backbone. Ensuring that they are fairly compensated for their work is crucial for keeping them satisfied with their positions and preventing as much turnover as possible. Since turnover is a major drain on company resources, reducing instances of it is crucial for ongoing facility success. While paying your employees more is certainly one incentive that many managers use successfully, paying them properly is just as important.
There are studies that have shown that better pay does equal better employee satisfaction rates, but there are multiple factors at play, even within these studies. Employees also reported being more satisfied when they felt valued, something that they often directly attributed to their companies offering fair compensation for work.
For most employers, fairness equates to meeting and exceeding government requirements – the basis for employee expectations. Knowing what is required of your company in terms of payroll tracking and management will help you choose the right call center software for the job. Government requirements for employee compensation include:
- Exempt and nonexempt status
- Overtime regulations
- Minimum wage regulations
- Minimum payday scheduling information
- Criteria for final paychecks
- Rest period requirements
- Meal break requirements
- Wage garnishment and permissible deductions
Good payroll reporting and recording doesn’t just ensure that employees are paid correctly – it ensures that they are paid on time, as well. Too many employers face issues with payment scheduling and regulation; using a reliable, automated system for payroll management ensures that your facility won’t be one of them.
Keeping Company Money Where It Belongs
While it’s important to pay your staff fairly for what they earn, it is equally necessary to ensure that you’re not overpaying anyone – or losing company money due to poor payroll management. Your call center software should be accurately reporting hours worked and time actively engaged, so you’re not accidentally paying out wages for employees who miss work or are not actively participating in workplace activities.
It’s an unfortunate fact that many call centers are victims of payroll fraud. This occurs when payroll managers or employees knowingly deceive the company in order to gain more than their fair share of compensation for services rendered. While most facilities want to believe that their staff would never deceive them in such a way, it’s an all too common scenario.
A common method of payroll fraud in large operations like call centers is the use of “ghost employees”. Payroll managers will create false identities or continue payroll transactions for employees who no longer work for their departments. The funds being accredited to these ghost employees are actually being diverted so that they can be collected by one or more other current employees. It’s an elaborate method of theft that is used far too often in large call centers and other facilities where manually tracking payroll can be difficult.
This is just one more reason why good payroll call center software is important. Your employees deserve fair and accurate compensation – but not more than their share. Be sure you’re not unknowingly paying out more than is being earned by using an automated system.
Accurate Tax Information
If you operate a call center in the United States, ensuring that your payroll information is complete, accurate, and properly recorded is vital. It is federally mandated that employers comply with government regulations for payroll reporting, so having call center software that does so properly can save you more than just hassle – it can save you from legal issues. There are specific guidelines for what should be withheld from employee paychecks, so a good payroll solution should help you ensure that you’re meeting those requirements.
One of the issues that can occur when your payroll management isn’t functioning optimally is that wage to hour compliance may be skewed. Not every call center pays hourly wages; some operate on a salary basis. However, all centers are responsible for meeting or exceeding the federal minimum wage. An imbalance in these numbers can result in legal issues. Tracking how many hours your employee worked in comparison to how much they were compensated can help you prevent any legal issues related to wage/hour compliance.
It’s also important that your documentation match whatever records your employee might have and might be using for tax preparation purposes. Both individual employees and the company as a whole must answer to the government at tax time; if their records differ greatly, it can create major issues. Good payroll management means that not only will the records match down to the last detail, but they’ll be accurate, up-to-date, and ready for your employees and business owners alike to use while preparing their taxes.
How Good Call Center Software Can Solve Multiple Problems
So, what can your company do to ensure that your payroll is properly handled? Accurate reporting is all part of good call center software. You should be able to depend on your software to report all information correctly, as well as catalog that information and make it ready for use during tax preparation.
At ChaseData, we offer numerous call center software solutions. From handling your everyday operations to keeping your employees properly compensated and the government adequately informed, our programs can help you do it all. Talk to one of our representatives today about integrating these solutions into your facility and streamlining your processes. You’ll love the way your software works – and so will your employees!