Off-cycle payments are an inescapable fact of business life. However, the off-cycle payments that are avoidable — those that are the result of discrepancies introduced somewhere in the process —represent an added or unnecessary expense that the company most likely would not have incurred had proper workflows, data entry, and/or administrative procedures been followed. One discrepancy can snowball into a myriad of catch-up processes that often include the production of a manual, off-cycle payment, creating a disproportionately negative impact on a company’s bottom line.
To better understand how off-cycle payments impact the bottom line, you need to understand your overall payroll operations as the nature and frequency of off-cycle payments may be just the symptom of a larger problem. The presence of a large number of off-cycle payments can be an indicator of other, more fundamental management problems hiding below the surface that have not yet been picked up by more conventional reporting systems.
In this report, you’ll find tips, techniques, best practices and worksheets to help reduce the amount of off-cycle payments and create a positive impact in holding down overall payroll processing expenses.
Off-Cycle Payments: Bringing More Certainty to Uncertainty to Minimize Payroll Costs identifies the problem areas that give rise to unnecessary time and expense and outlines measures that can be taken to significantly reduce or eliminate their occurrence.
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