Nonprofit hiring is still suffering from the effects of the Great Resignation. As nonprofits work to become more employee-friendly, adopting workflows around payroll will help improve employee satisfaction and allow teams to reallocate resources to other processes.
If your payroll system is antiquated or encounters frequent errors and miscalculations, it may be time to upgrade to something more efficient. The payroll process can significantly affect your organization’s overall health. If your software can’t keep up or comply with wage and hour laws, you may risk having to pay more in penalties and fines.
Benefits of Working in HR Automation
There are many reasons you should adopt nonprofit payroll workflows and the proper software. When you choose to incorporate HR software in your organization, you can enjoy the following benefits:
1. Reduce Errors in Payroll
Adopting workflows around payroll processing and embracing automation reduces typical payroll errors your nonprofit may encounter with your current system. A reduction in mistakes thanks to helpful technology may improve administrative and employee experience.
Organizations with multiple locations can especially benefit from automated processes, as they can establish consistency across your locations’ HR practices.
2. Improve Efficiency and Maintain Compliance
Emerging technology improvements in your payroll process can also enhance your speed and accuracy while maintaining alignment with compliance regulations. You can automate various HR management tasks, such as:
- Email reminders
- Expense reports
- Employee records
- Job title classification
- Employee recruitment
- Benefits management
- Development and training
- Organizational restructuring
- Benefit eligibility and enrollment
- Employee performance tracking
- Form processing and preparation
- Employee onboarding and offboarding
Along with saving your organization time, automation can help you remain compliant with regulations, such as employee safety and labor auditing regulations.
3. Provide Employees With Self-Service Applications
Providing your team members with self-service applications is another excellent benefit of advanced technology. If your employees have questions about their benefits, wish to view or change personal information, or print any statements, they can easily do so whenever it’s convenient for them, usually without needing to contact HR staff. Additionally, employees can spend less time dealing with HR processes, such as selecting benefits and requesting time off.
Your team will enjoy the increased transparency and the ability to easily submit expense reports and make changes to benefits.
4. Enhanced Security
With the ability to manage access layers, you can give your employees the tools when needed to review, change, and organize their sensitive information. Automated solutions can ensure your organization’s confidential information and data are encrypted and password-protected.
A paperless payroll system also lets your organization improve the security of your data. Going paperless means you don’t have to worry about unauthorized parties gaining access to paper files with sensitive information.
5. Cut Costs
You can also make your organization more environmentally friendly and cut costs by shifting to a paperless system. By going paperless, you eliminate physical pay stubs, paychecks, and timesheets or time cards. You can save money by cutting down on paper and ink, along with storage space for physical copies of essential information. Further, many employees would rather receive their pay information electronically. This means implementing the right software is a win-win for your entire organization.
Since you will reduce manual workflows, you can also cut operating costs. Your employees save time with automation, so there will be less waste throughout your organization.
Introducing MIP® People
With MIP® People, we provide human resources and payroll services for nonprofits. Our cloud-based solution can handle all of your organization’s payroll and HR needs and make managing your accounting processes simple. Since MIP People is scalable, it can grow with your organization and suit organizations of any size. Processing payroll becomes suddenly effortless. You can choose the rules your organization abides by and depend on automation process checklists for handling your team’s pay and benefits.
Services you can access through MIP® People include:
- Payroll: With the MIP Payroll feature, you can track employee service efforts, perform wage calculations, and integrate HR records. Your organization can also generate distribution codes and accounting entries. Use our solution to gain control of the costs for producing your own payroll and reduce the time spent on making transaction entries.
- Direct deposit: You can also use our direct deposit module to easily and quickly designate employees as direct deposit or check employees. For direct deposit employees, print vouchers to display pay information every pay period. You can use an unlimited number of bank accounts for direct deposits. Your organization can avoid delayed deposits, confidentiality issues, and lost paychecks with our software that transmits compliant direct deposit files to banks.
- Benefits enrollment: With our benefits enrollment function, you can create benefit plans and perform complex calculations that determine your base plan rules. Your employees can access this information any time, along with updating and printing their benefits as needed. With a single click, you can apply benefit calculations to every employee automatically.
- Employee web services: Our employee web services portal can be used to reduce errors and save time. Your team can enter, approve, and update records securely. Wherever your employees have internet, they can access and update their timesheets and personal information. With this functionality, your HR team can instead return their efforts to the people in your organization.
- Human resource management: With our HR solution, you can integrate your general ledger and payroll systems for single-entry data transparency and integrity. FMLA, EERO, and veteran reporting is easy, and our software comes with the functionality to e-file and populate tax forms like W-2s, 1095s, and 1099s. You can efficiently track employee data and records like degrees, certifications, and renewal dates. With human resource management, you will have audit trails of your employees’ history and determine an employee’s leave rate.
With our integrated system, your organization can reduce errors from data transfer and keep your data secure with our leading security features.
Request a Free Demo of MIP Fund Accounting®
At MIP®, we offer accounting software and various services designed to help your nonprofit manage complex accounting processes. Your organization can make more informed decisions, operate more efficiently, and engage with donors more effectively when you have comprehensive financial tracking. As the leading cloud-based, SaaS fund accounting software in the nation, MIP Fund Accounting® has helped nonprofits, associations, government entities, and K-12 schools better achieve their goals and objectives.
Leverage the enhanced financial oversight to streamline your accounting and payroll. When you’re ready for a personal solution tour, request a free demo of MIP Fund Accounting® today to see MIP in action.