Construction payroll is a complicated process. It involves multiple states and localities, prevailing wage work, and reporting requirements.
The proper construction payroll solution can help you manage these complications and keep your employees happy. But it is essential to choose the right solution for your company.
Time tracking software
Time tracking software is a valuable tool that construction businesses can use to track employee time. This helps ensure accurate payroll and reduce payouts based on time theft.
Aside from tracking employee hours, time-tracking software also helps to improve productivity and accuracy. This is especially helpful in construction, as it allows you to estimate future projects more accurately and prevent delays that could result in lost revenue.
The data you get from time tracking software can also help you manage overtime more effectively so that you are not overpaying employees for hours they did not work. This can be a considerable expense for many construction companies.
If you are a project manager, you can also use this information to make better estimates for your customers. This will ensure that you deliver the best possible service to your clients and not just rush them through a project.
For example, if you are estimating a job with multiple cost codes, you need to know which ones they worked on to bill for them properly. Using time-tracking software means you can do this easily, so you don’t end up overbilling your customers or underpaying your employees.
There are many options for time-tracking software, so you need to choose the one that best meets your needs. Before making your decision, consider your goals and budget.
Tax Calculations
A construction payroll solution must calculate the correct tax withholdings, prevailing wage and union deductions. This is a critical part of the overall process that needs to be done with utmost accuracy.
If a solution can handle these calculations, it can lead to accurate payroll and adversely affect employee trust and union relationships. Additionally, a wrong analysis can result in hefty penalties.
Tax calculations can be complex and time-consuming. They require a team of experts to gather and integrate data from finance and tax departments, properly structure the measures and keep up with new tax laws.
It’s a good idea to find a construction payroll service that is specialized in this area. These services can save you a lot of time and hassle.
Besides taxes, they will also handle payroll and fringe benefit calculations for employees. This helps contractors and employees save money by reducing workers’ compensation insurance premiums.
There are many options for construction payroll software that can help with these complexities. One of the best solutions is bacon, which offers a comprehensive payroll platform that handles all aspects of construction payrolls and compliance reporting. It also provides essential employee benefits through partner providers. Its easy-to-use app makes it easier for construction employees to track their hours and submit their pay stubs.
HR cloud solutions
HR cloud solutions are a great way to manage your employees and streamline critical business processes. They can help you improve your workforce and increase employee engagement by digitizing and automating tasks, reducing the time spent on manual processing.
Unlike traditional systems, HR cloud software is scalable and can grow with your needs. This makes them ideal for businesses with fluctuating workforces.
A Human Resources Information System (HRIS) stores critical employee information, including employment details, job history, and performance metrics. It can also act as a repository for HR documentation like employee contracts and policy guides.
HRIS solutions can be standalone products or part of a more extensive, all-in-one HR software suite. They often have a built-in payroll feature to handle the complexities of taxes and deductions.
Another option is to look for a cloud-based HR management system that integrates with your other business applications. Many of these systems offer many features, and you can easily customize them to suit your needs.
Clear Communication
Clear communication is more than getting your point across – it can also build trust, avoid confusion and lead to positive outcomes. Whether you are a business owner, a project manager or a freelancer, developing clear communication skills can help you grow your business and improve your leadership skills.
Clear communications can be as simple as spelling out acronyms or using synergy to make complex concepts understandable to a non-technical audience.
One of the simplest ways to achieve the explicit communication feat is by selecting construction payroll software that can handle today’s complex workflows and challenges. A modern construction payroll system should be able to handle union payroll requirements, have built-in tax codes, offer a mobile time card solution and have an impressive list of other features that will make your life easier.
When choosing the right construction payroll software, be sure to ask your vendor for a demo of their best products and services so that you can make an informed decision. The best payroll solutions can save your business time, money and headaches in the long run, so take your time and select the one that suits you.
