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The effect of the paycheck on employees would not limit the salary they receive, and instead, it would motivate them to work hard. But, according to Zenefits, 82 million or 54% of American employees are affected by the payroll problem. This may occur due to poor payroll scheduling that companies do not notice. So, make sure that you issue your monthly payroll on schedule by downloading our HR Payroll and Scheduling Template. We guarantee you that this file lets you save time, money, and effort in making one as it has carefully researched heading and content. Moreover, you can download this template in Microsoft Word, Apple Pages, and Google Docs format. Download this template now and issue employees' salaries on time!
An HR payroll and scheduling is a document containing the salary scale according to the employees' work schedule in the company calendar. It is usually in a sheet form listing the names of the employees, their work schedule, and the equivalent salary. There are various types of payroll and scheduling, but most of the American employers semi-monthly and bi-weekly schedule.
How to Make an HR Payroll and Scheduling
Payroll and schedule come together in employment. You cannot determine an employee's pay without their schedule and vice versa. So, as a Human Resource Officer (HR), it is your responsibility to make these two work together. But if you do not know how and where to start? Do not fret as below is a guide in making an HR payroll and scheduling.
1. Create a Budget
If you want to plan for your payroll and scheduling, you need to come up with various budgets— wages and taxes. As responsible employers, you are required to deposit the employees' contribution to Social Security, Medicare taxes, and unemployment taxes. So, in order for you not to be taken aback with these, be smart and strategic by producing a budget ahead of the actual payday.
2. Decide on Payment Terms
There are two standard payment terms that employers use— salary and hourly rate. Between the two, salary is the most common as it is the easiest, consistent, and manageable way of paying the employees. But, there are instances where an hourly rate is applied, especially for works with a shift. Either way, decide the payment terms for your employee based on the products or services that you offer.
3. Classify your Employees
Especially for big companies, sorting is a helpful technique in any way. For your payroll and schedule, you need to sort your employees according to their position. Classify them into full-time employees, contractual or independent employees, or interns. It would be easier for you to determine as to how you would sort your payroll and schedule based on your employee's classification.
4. Simplify your Process
Payroll and scheduling might be a burden for some of the Human Resource Officers (HR). According to the National Business Association, 27% of small business owners spend more or less five hours per month on payroll. This is evident that payroll and scheduling cost a lot of time, so simplify it as possible. To make it happen, download the templates above. Aside from the timesheet, these templates are convenient and versatile for your utilization.
5. Keep Everything
To make it simpler for you, you need to keep everything for the payroll. In fact, the federal and state law required to keep records like W-4, W-2, pay stub, tax forms, vacation time, benefits, and more. To achieve this, make use of payroll software where you can store every payroll document that you issued.