Manual payroll can severely limit your business during an emergency such as a flood, fire, hurricane, or a situation such as the COVID-19 pandemic. Up to 60% of small businesses never recover from a disaster, according to the Federal Emergency Management Agency (FEMA).1 A great deal of time is spent every month administering payroll as well. Using cloud-based payroll software allows your organization to track employee hours, calculate overtime pay, set rates, and perform other tasks from anywhere.
Knowing how to use an online payroll software system is critical. Here are some of the elements you can use to make sure your employees get paid and your business continues running in case of an emergency:
With direct deposit, your employees can be paid no matter what kind of emergency strikes. It avoids having to cut and write checks, put them in envelopes, and manually calculate the price of sending all those checks in the mail. In an emergency, the staff may not be on hand to manage all necessary manual tasks, while carriers may not be running at full capacity or at all. Direct deposit ensures employees anywhere are still paid on time and protected against fraud and identity theft.
Manual entry of timecards is useless if there’s no access to the physical location where timecards are being stored. With electronic entry, hours worked can be tracked from anywhere, as can time and payment information for specific projects. Employees can then be paid remotely even when there is an emergency that impacts access to the main office, and your business can remain in compliance with laws and regulations such as the Fair Labor Standards Act (FSLA).
Authorized individuals can perform any updates necessary to ensure employees are paid for their hours worked, including overtime. At SNF Payroll, our HR payroll software allows gross-to-net calculation and provides all the necessary forms and templates. Benefits information can be updated as well. Linking to 401(k) providers and tax resources also ensures your business has effective record-keeping and complies with all applicable laws.
Pay your employees via paycards, which work much like debit cards. The funds can then be accessed when making in-store and online purchases or at an ATM. Paycards save time and money on processing checks. An alternative to direct deposit, they give individuals access to much-needed funds during an emergency while helping to keep your business going.
Use Cloud-Based HR Payroll Software
At SNF Payroll, we offer a software solution that helps improve productivity and access to services during emergencies. It ensures information is accurate and up-to-date, allows data to be added and edited easily, and provides form templates and a range of employee self-service features. Continue browsing or call 844-200-1870 to learn more about how it can help your organization maintain payroll during the next emergency.