Payroll remains a constant in any business environment, regardless of the market condition or environmental factors that might be impacting other parts of the business. The events of 2020 have seen entire workforces shift to remote working, leaving some businesses to wonder how payroll can be conducted accurately within this new paradigm.
Today, we are going to shine a light on how to navigate payroll for remote teams, and why this ‘new normal’ does not have to represent a challenge for internal payroll teams or those looking to make the change to an outsourced payroll solution. Let’s outline the steps and considerations to lodging compliant payroll for remote teams.
Embracing payroll for remote teams
How can businesses know whether an employee presented for work on that day, and what does remote working mean for those who operate on a part-time or casual basis? Can management have a line of sight over operations in a remote workplace? There’s no doubt that there are some unresolved questions that have lingered in the aftermath of offices swiftly switching to remote working, so let’s address your payroll commitments and establish what this looks like in 2020 and beyond for remote teams.
1. Partner with an outsourced payroll provider
The events of 2020 have resulted in businesses exploring outsourced solutions, with a specialised professional to pick up the reigns and improve processes. If you haven’t perfected a payroll method that accounts for a now-remote team, talk to our i3Group specialists about how they can establish an effective payroll for your new business structure. Our technology and combined decades of experience have culminated in a comprehensive payroll structure you can rely on.
2. Time and attendance tracking
Is there a part of your workforce that is still in the office, factory or warehouse, while your management and administration team work from home? If this is the case, you can implement time and attendance tracking through biometric technology which can integrate with our i3Group software to record and issue an accurate payroll. Take the guesswork out of your employees’ productivity and hours worked, and enjoy greater transparency from your remote office. Time and attendance tracking is also integrated with other systems, allowing your team to access rosters remotely and not rely on management to physically issue hours.
3. Safer processes with multi-factor authentication
There is a misconception that remote processes lack the same security protocols of a physical office, but in fact, human error and the often lax procedures of an internal finance office are not necessarily more secure. i3Group and our base of clients have had great success in establishing multi-factor authentication through payroll for remote teams. This necessary feature adds a critical layer of security to your payroll, including universal 2nd-factor security keys, physical one-time PIN tokens, smart cards and email, SMS and voice call verification.
4. Integrated with your HR software
HR has always been linked with payroll, and so it only makes sense that our i3Group solutions be fully integrated with your HR software. That means that if you have an HR team or lean on an HR software, nothing will change now that you are working remotely. Automating both roles under intuitive software may result in a more thorough and prompt payroll process each month, with less double handing and more time allocated to workplace morale and engagement.
5. Reduce your headcount or reallocate roles with payroll consulting
The businesses that have adapted and leveraged these new working conditions are the ones that are in the best shape, operating on a leaner structure and dedicating their time where it is most efficient to do so. By embracing payroll for remote teams, you can tap into our team of i3Group payroll professionals who can shape up your payroll processes and reporting responsibilities, which is often a more affordable decision than appointing a person or team of payroll employees. Our payroll consulting is fully tailored to you and the needs of your business, with our team able to work within the remote structure you have established.
Will payroll for remote teams work for my business?
The payroll industry continues to see improvement and a more compliant framework for employers and employees to better access information. If you would like to find out whether payroll for remote teams is viable in your own business, contact i3Group today to organise a call and find out exactly how it looks, and what you can improve upon. Remote working is here to stay, at least for a large proportion of Australian businesses, so set yourself up for success with i3Group.