If you’re a business owner or manager, payroll is fundamental for keeping track of your employees and how much they need to get paid. It’s a necessary system for ensuring they’re properly compensated for their work.
Despite payroll seeming like a modern luxury, it’s actually been around for thousands of years. The earliest records of payroll stem back to ancient civilizations like Greece, Sumeria, and Egypt, typically recording bartered items or compensation such as food and clothing. Let’s dive into the evolution of payroll processing—what it looked like in the past, how it currently works, and what the future holds.
Looking at Payroll in the Past
Thousands of years ago, ledgers were written on papyrus or etched into stone tablets to keep track of workers and how much grain, food, or clothing they received for their work. Even through the late 1950s, payroll still relied on pen and paper and was done entirely by hand. Manual payroll would remain a common practice until people began using computers in the early 1960s.
By the 1980s, companies specializing in payroll began to step in, which meant businesses could more easily outsource those tasks to professionals. Throughout the early 2000s, emerging payroll software became more refined and even easier to use. As technology has progressed over the last few decades, payroll automation has continued to shift and evolve into what it is today.
How Payroll Works Now
Modern payroll systems are incredibly intuitive and have functions including time tracking, tax withholding, benefits management, and direct deposit. A full-service payroll management system like PEOPayGo is essentially a one-stop shop for all of your payroll, human resources, and workers’ comp needs. You can use the app to onboard new employees, submit hours, and request a payment method change with ease from anywhere in the world.
If you’re looking for a payroll service that offers the flexibility of either running payroll on your own, having it run automatically every week, or having a team of experts run it for you, PEOPayGo is a great solution. With employee self-onboarding and accurate, automated payroll, you can expect a streamlined and hassle-free experience, ultimately saving you time and money in the long run.
What the Future of Payroll Might Be
With the advancements of AI and other software, payroll will continue to become an even more seamless and integrated experience. From saving time for employers to quicker payouts for employees, AI will likely have a massive impact on the way payroll is run.
Additionally, using the cloud for payroll allows employers to access data from anywhere in the world as well as easily expand storage as their company grows. The cloud also allows data to be backed up and software to be updated automatically.
Looking at the past, present, and future of payroll, it’s clear that the evolution of technology has ultimately created more flexibility, ease, and accuracy in terms of what’s in store for payroll processes.
Professional employer organizations (PEOs) are incredibly helpful for business owners who already have
a lot on their plate. PEOs are essentially full-service organizations that handle administrative tasks like
payroll, benefits management, and workers’ compensation claims for other companies.
Workers’ compensation claims can be complex, so it’s a good idea to have support. No matter what type
of company you own, working with a PEO can offer many benefits. Let’s dive into what they can do to
help and why they’re crucial for streamlining workers’ comp claims.
1. They offer risk management to help prevent injuries
Rather than simply stepping in for damage control, PEOs typically implement safety programs to help
prevent workplace injuries from happening in the first place. In some cases, they may help businesses
identify any current risks and offer solutions to help ensure employee safety.
2. Administrative tasks are taken care of
Business owners have countless responsibilities, and their passions often lie more in the creative process
than in administrative tasks. Workers’ compensation claims and all that they encompass can be daunting
and complex.
When an employee is injured, it’s imperative to report the incident as soon as possible. Starting the
workers’ compensation claim process right away is important for ensuring your employees receive the
care and support they need after an injury. The claim process involves paperwork detailing the incident,
notifying the appropriate insurance carrier, and coordinating the proper medical care.
Using a PEO for workers’ compensation claims is a great way to make space for business owners to
prioritize their strengths. Working with a team of experts helps guarantee the process is documented and
completed with accuracy so that you and your employees are protected.
3. You can insure your employees with a pay-as-you-go program
PEOs like PEOPayGo offer customized programs for companies of all sizes. Pay-as-you-go programs
allow businesses the freedom to only pay for what they use. This helps make workers’ compensation
more accessible for smaller companies and more affordable for larger corporations.
4. Save time and money by outsourcing
Whether you own a small business or a large company, outsourcing is a great way to save time and
money. Working with a PEO for your administrative tasks like workers’ compensation means that you’ll
have a team of trained professionals doing what they do best. When you partner with an experienced
PEO, it frees up time for you to completely focus on your own work.
Effortlessly Manage Workers’ Comp with PEOPayGo’s App – Enhance Efficiency and Cut Costs Today
PEOPayGo has an app specifically for workers’ compensation management. All relevant information can
be stored in a centralized location, and claims can be automated, saving time and money in the long run.
Navigating the complexities of workers’ compensation claims can be challenging. Working with a PEO is
incredibly helpful for streamlining your workers’ comp process—from offering risk management programs and handling administrative tasks to customizing your insurance and utilizing pay-as-you-go programs.
There are many benefits of using a PEO to help save time and money during the workers’ compensation
process.
- Cost-effective solutions for payroll, HR, and workers’ compensation.
- Expertise in serving the construction industry.
- A willingness to support startups and owner-operators that others may decline.
- User-friendly technology for all skill levels.
- No. 1809 on the Inc. 5000 list.
- No. 75 Industry Ranking for Human Resources.
- A remarkable 309% three-year growth rate.