Did you know that September 5-9 (2016) was National Payroll Week in the United States? Every September, the nation’s payroll providers get together to pay tribute to their profession and educate American workers about the payroll system. An estimated 21,000 members of the American Payroll Association participated in this year’s events held across the country.

National Payroll Week is sponsored by the American Payroll Association for the purposes of motivating members to get involved in educating workers. There are some 150 million wage earners in America, and all of them need to be paid accurately and on time. This is what payroll services for small business are all about.

Workers put in their 40 hours and expect to be paid accurately and on time. But there is more to it than that. Taxes have to be calculated and withheld, tax payments have to be made, federal and state reports have to be filed, and additional benefits like health insurance, retirement plans, and workers’ compensation insurance all have to be administered. In-house payroll departments and third-party payroll service providers take care of all of these things in the background so that workers don’t have to worry about them.

GP - Say Goodbye to Another Successful National Payroll Week

Maximizing the Paycheck

One of the major themes of the 2016 National Payroll Week was maximizing the worker’s paycheck. Participating service providers sponsored programs designed to educate workers on ways they can increase their amount of take-home pay while still paying the taxes required of them. As part of the effort, the American Payroll Association conducted an online survey to gauge the knowledge of everyday payroll topics such as mobile banking and direct deposit of paychecks.

A special video series was produced to help workers understand how to maximize their paychecks. Organizers even went so far as to create a fictional character with whom viewers could associate. Two of the suggestions offered by “Kelley” to maximize paychecks were

  • Using Direct Deposit – Direct deposit is financially beneficial to employees because it reduces the actual cost of getting paid. With direct deposit, there are no paper checks to cut and no fees involved with depositing Workers also don’t have to spend their valuable time running to the bank to cash their checks.
  • Adjusting W-4 Forms – Workers fill out a W-4 form at the start of employment in order to tell the payroll department how much to deduct for taxes. Unfortunately, many workers do not realize that their deductions are not set in stone. W-4’s can be modified at any time to account for changes in life circumstances. A few simple adjustments can reduce the amount collected for tax purposes.

Small Businesses Benefit as Well

The 2016 National Payroll Week focused mainly on educating workers about how payroll works. But small businesses benefited from the effort as well. All across the country, small business owners were informed about the benefits of contracting out their payroll functions to third-party providers.

Payroll services for small business represent an opportunity for business owners to guarantee their workers get paid on time without having to worry about all of the headaches that come with complicated payroll processing. Service providers can handle everything from withholding and tax payments to actually cutting the checks or making direct deposits.

Small business owners who do not currently use payroll services are encouraged to learn more about doing so. Being free of the burden of payroll processing allows business owners to concentrate their energies on keeping their customers happy. It is a beneficial arrangement for both business owner and payroll providers; both get to do what they specialize in.

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