In 2020 many of us thought we'd all be using robots at work in paperless offices. That hasn't happened yet, but we do have online payroll software. Or do you?
Amazingly, there are still vast numbers of businesses still doing payroll by hand despite the wide variety of online payroll software available.
Contractors working with federal contracts and federally-assisted projects are required to have a certified payroll. And this can mean needing a certified payroll specialist.
A government construction project has several requirements such as building materials acquisition, compliance with building codes and regulations, and meeting a series of deadlines. And, in addition to vendors and suppliers being paid, so do workers. And this is where things can get complicated with a federally funded project.
One of the primary functions of workforce management is to accurately track time and attendance. And it is also one of the most labor-intensive aspects for many organizations.
Accurate tracking is critical, however, as labor is also the single largest expense category for most businesses. While the relative cost can vary drastically depending on the business model, salaries or labor typically accounts for about 30 to 50 percent of the total cost of most business operations.