All construction companies, whether service or job-based, require a large number of talent acquisitions and recruiting. Setting up accounts for new hires adds to the existing work that needs to be done to ensure that current workers are also getting paid on time. All companies now work with a payroll system, but what happens if the one you are using is not the right fit for your business? In construction, there is little time for trial and error with the amount of work always piling up. These tips will help you in selecting the right payroll system, making sure your business is prepared for any changes it may encounter.
Designate a Proven Payroll Specialist
Accounting is vital for the success of any business. In construction specifically, a temporary workforce and a mix of permanent and contract workers makes the job of accountants far more complex. The first step in ensuring everyone is paid accurately and on time is hiring a proven payroll specialist. Find someone, whether internally or externally, who has proven they can handle the intricacies of the construction industry. From here, you can work with your payroll specialist on selecting the right software, or find ways to improve your current system.
Choose the Right Software
There are countless payroll systems available, many of which have their specific pros and cons. When selecting which system to implement, consider options that work best for your company, whether through its usability, adaptability, or whatever criteria you have determined will best suit your team. If your current system is deemed incapable of handling the current payroll situation, consider looking at the newest technologies or research reputable software companies to find options that addresses your specific payroll needs.
Select Software That Allows for Company Growth
Often times, older companies operate with the same payroll system that was used since the business started. Many of these systems, ranging from outdated software to paper documentation, has proven to be a hindrance to the growth of the company. When choosing a payroll system, or if your company is planning to change its current one, select options that you can see your company using in years to come. Ensure that the software you are selecting will allow you to adapt to future payroll needs, rather than simply meeting demands.
Select a Payroll System That Integrates Other Business Functions
When selecting a payroll system, look beyond the typical accounting software options that are available, and find integrated systems that can help unify other functions of your business. Instead of a standalone accounting software, there are plenty of options that also incorporate other needs of construction companies including inventory management, document management, estimating and reporting. Consult with other departments, service managers and project managers and see what their needs may be. Working with others in the business can contribute to a more substantive discussion that stretches beyond payroll needs. Perhaps selecting a payroll software that addresses other issues within the company will better suit your business. For more, see our Top 10 Construction Software Solutions.
Ensure a Smooth Transition
All organizational change is met with some resistance, but if the benefits of the new payroll software are explained in detail, many workers will be more open to change. Prior to implementing the new software, let workers know what they will be getting out of it, as well as how it helps the accounting team. Prepare training sessions or instructional packages to help workers familiarize themselves with the new system.
Lastly, make sure that the accounting software you have chosen also includes the appropriate training and implementation. All members of the accounting team must be prepared for any questions and concerns that may arise, and this can only be achieved with a thorough training session with the software provider. Give your accounting team the appropriate amount of time needed to learn and operate the new software, and understand that problems may arise. With the benefits and advantages of the new accounting software made clear, your company will be better equipped for long-term growth and development. For more accounting and payroll strategies, see our 5 Tips to Ensure Your Construction Business is Paid on Time.