With the right HR tech, small and midsized businesses reap benefits that help them efficiently operate and engage employees — and a new study from Nucleus Research proves it. The institute interviewed clients across three industries (the composite organization), one of which had as many as 1,150 employees. The industries were:
- food service
- health care
- real estate
The result? Companies that used Paycom and Beti®, our tool that empowers employees to do their own payroll, spent 90% less time processing payroll and experienced an 80% to 100% reduction in corrections.
How does Beti let employees do their own payroll?
Transforming a previously backward process, Beti is a payroll technology that automatically flags errors. Then it guides workers to resolve those issues before payroll submission.
This helps companies avoid the high price of costly payroll fixes like wires, voids, reversals and rushed paper checks. Nucleus found this technology gave companies these three typical benefits:
- reduced errors
- increased payroll productivity
- improved employee engagement
Nucleus found that, on average, payroll administrators using unautomated systems spent eight hours per 100 employees reconciling errors each pay period. By transforming this process, Nucleus found Paycom engaged employees with their payroll and gave HR professionals the freedom to invest more time into value-adding initiatives.