Kronos Payroll Improves Productivity and Controls Labor Costs

Kronos payroll wants to help control unnecessary labor costs, minimize compliance risks and help improve productivity overall. Kronos payroll conducts benefit management, compensation, performance, applicant tracking, training, compliance, payroll, reporting and self-service all in one database solution. Kronos can be installed in organizations of all sizes, giving every company the tools needed to control labor costs and increase workforce efficiency.

Key Reasons to Implement Kronos Payroll

Workforce Productivity – Kronos payroll streamlines the payroll process, saving a lot of money. Instead of wasting time over updating employee details across multiple systems, or reprinting old pay stubs to answer employee questions, Kronos payroll simply collects employee time data and applies policies for payroll calculations and prints the pay checks.

Decrease Labor Costs – Manual data entry across multiple systems can produce clerical errors, which means inaccurate payroll calculations. If you’re using an outside vendor and mistakes are caught afterwards, there can be additional fees. Kronos payroll gives your company complete payroll control, not the vendor, which decreases any additional labor costs. According to the Kronos report, up to 68% of respondents credit streamlining the payroll process a key factor for department cost reduction.

Compliance – Are you calculating FLSA weighted average overtime correctly? Kronos payroll keeps your company in compliance with Fair Labor Standards Act (FLSA) requirements, union regulation and all pay rules. Failure to remain in compliance could mean a time-consuming and costly audit. Kronos payroll lets you effectively manage compliance risks, payroll policies, and quarterly legislative updates keeps payroll processes completed correctly. Indeed, Kronos reports that up to 70% of employers are at risk for not being FLSA compliant.

Employee Self-service – Employees have even greater control over their payroll history with Kronos payroll. Employees can view pay stubs, earning histories, conduct any changes to their direct deposit, W-4 forms, or print their W-2s. Lastly, they can even model how deduction changes can affect their pay.

Complex payroll processing, simplified – Kronos payroll makes it easy to automatically calculate wages, bonuses, and any other compensation. HR representatives won’t have to waste any additional time rekeying data, tracking down details, or fixing clerical errors from incorrect deductions, withholding allocations or accruals.

Pre-audits – Helps give another set of eyes to double check the numbers. You can conduct unlimited pre-audit checks to ensure payroll accuracy and efficiency, before printing out a single check. Not to mention, you can easily show employees and any regulators that all policies are being enforced correctly.

Integration helps Increase ROI – Kronos payroll makes it easy to integrate and share data with other business applications. Integrating your payroll information, with data you’ve already captured, can help leverage your timekeeping, HR or any other back office applications.

Kronos payroll can optimize all your payroll functionality need quickly. By transforming your payroll strategies your workforce productivity will increase, compliance risks are greatly minimized, and labor costs are now strictly controlled. These powerful features can also be incorporated with HR processing and timekeeping. Not to mention, the added benefit of empowering your employees by giving them the flexibility of self-service payroll needs.

Tags: Kronos Payroll