You established the business case for more headcount, interviewed numerous candidates, checked references, made an offer and your top candidate accepted. Job complete! Well…not so fast. A seamless employee onboarding experience is the first impression that leads directly to improved retention and productivity.
Regulatory changes happen. More often than you might think. Monitoring regulatory changes is time consuming, but it’s critically important as an employer that you stay on top of these changes and ensure you are using the most current tax forms to capture your employees’ tax information. Failure to capture the correct information can lead to time-consuming audits and costly penalties.
You can’t expect employees to take the self-service wheel without information and guidance. As employers, you need to put them on the right path with proper direction, so eventually they can “drive” on their own. Only then can you eliminate any worries about self-service and focus your resources on other HR and payroll needs.
In the race to capture the benefits of cloud-based technology platforms, HR and Payroll teams need to make sure that their essential historical employee data is not left behind.
Near the top of every new employee onboarding checklist on day one is a task to complete all required W-4 tax forms. Despite the increased complexity of state and local tax regulations, many employers have continued to use paper-based tax forms to capture this important information—until recently.
Now is the ideal time to understand and prepare for tax and compliance regulations that are changing. It will save you valuable time and resources later in the year.