Modern workplaces often struggle with scattered HR tasks, outdated tools, and inefficient processes, making human capital management (HCM) more complex and stressful. Addressing challenges like employee compensation, time tracking, and benefits administration is paramount to developing more streamlined, efficient, and operational HR environments.
BambooHR is an all-in-one solution designed to address these challenges with its intuitive features for managing payroll, benefits, and core HR tasks. However, how well it streamlines your payroll management will depend on how strategically you use its features to fit your business needs.
BambooHR simplifies administrative tasks for HR teams by ensuring that essential data, such as time tracking, time off, and attendance, flows directly into payroll. It centralizes employee information, making it accessible, accurate, and secure while streamlining record-keeping for admins, managers, and workers.
This seamless integration optimizes employee compensation management within the platform. Here’s how you can use BambooHR’s key functionalities for effective payroll, time tracking, and benefits administration.
Payroll Administration
BambooHR’s payroll system is built to make the employee compensation process efficient, error-free, and quick. It automatically handles federal and state tax filings, centralizes payroll data, and processes everything through a single system, eliminating the need for manual or duplicate entries. The platform offers numerous flexibility and customization options, allowing you to tailor your payroll process to meet your business needs.
Once you are logged in as an admin, here’s what each section of the payroll feature does in BambooHR and how you can use it:
- Payroll Tab: It ensures that only authorized users can access and process payrolls. The platform complies with SOC2 standards with digital bouncers to protect sensitive payroll data
- Pay Cycle: In the payroll tab, you will see your current pay cycle on the right side. By clicking on it, you can access the pay cycle dates for the next 18 months. You can also view the number of employees for each pay cycle here
- Off-Cycle Payroll: Apart from your current pay cycle, you can also run off-cycle payrolls for a termination cheque or a bonus. You can create as many off-cycle payroll runs as you need at no additional cost
- Automated Prompts: This functionality ensures you see key information like time off requests before payroll is processed
- People Being Paid: This tab displays employees eligible for payment, and the 'Status' next to each name highlights any errors, such as missing tax information or an incomplete address. You can also enable or disable pay for any employee from this section
- Extra Pay: Next to being paid, you will see extra pay. Here, you can add bonuses, reimbursements, or commissions for your employees
- Payroll Run: This is where all your payroll data from features like time tracking and time off flows. You can click on employee names to go into their details
- Payroll Reminders: This feature allows you to set reminders before running payroll and enables you to add more people if you need to
- Review Payroll: Here, you can review your payroll for information like the total amount and cash requirement to run payroll. The amount is divided by net wages, tax withholding, and deductions
- Review Payroll Reports: You can always review your payroll reports before or after running them and even configure them by date range
All of these features work together to run a fully compliant, error-free, and accurate payroll.
Time And Attendance Tracking
BambooHR’s time and attendance tracking system is designed to optimize HR departments' operational capabilities and support payroll administration. It offers tools to log employee hours, request time off, track projects, and ensure payroll integration. Here’s how you can use it’s time tracking and attendance features to its full potential:
Additionally, the platform offers customizable overtime calculations based on labor laws and your company policies. You can also automate reminders for employees to review and submit timesheets and for managers to approve to prevent payroll processing delays.
By customizing these features to address your payroll challenges, you can enhance the accuracy of your payroll operations and gain valuable insights into employee productivity.
Benefits Administration
Through BambooHR’s benefits administration, you can streamline and integrate the management of employee benefits within the payroll. The platform provides comprehensive benefits coverage, including:
Through its employee self-service tools, employees can review, access, and select benefits and related information.
BambooHR’s payroll and benefits system, combined with its extensive suite of tools, streamlines payroll administration for businesses. This approach simplifies complex HR processes, reduces administrative burdens, and improves operational efficiency to manage employee compensation and retention.