A payroll manager ensures accurate employee payments, manages payroll support personnel, and administers benefits packages. They communicate with accounting and HR managers and prepare reports for management. A bachelor’s degree in finance or accounting is typically required.
A payroll manager ensures the accuracy of payments to employees in relation to wages. She ensures that appropriate deductions have been taken from the gross pay amount to meet local and regional regulations, benefit funds and garnishment requests. Managing and supervising payroll support personnel are also part of your job responsibilities.
When new employees are hired, a payroll manager typically assists the human resources department in their guidance. She usually confirms their rate and frequency of payment and checks what deductions should be made from their wages. When current employees are promoted, reassigned or terminated, she is responsible for adjusting pay rates or issuing final checks.
If a company offers benefits packages to its employees, the payroll manager is usually their administrator. He is often responsible for superannuation funds, stock options and the disbursement of awards and bonuses. Employees often look to her for answers to their questions about these benefits. If management is considering changes to your salary or benefit structure, it is often consulted with your human resources manager.
To ensure efficiency throughout the company’s financial operations, a payroll manager typically communicates with accounting and human resources managers about salaries, benefits, and payroll policies and procedures. These managers often work together to develop and implement changes that can benefit the entire company. If employee contracts are part of the company’s structure, these managers can review them regularly and recommend changes.
Management often requires a payroll manager to prepare and submit reports to them on a regular basis. They usually reflect what the company is paying for benefits, taxes, and vacation provisions. The manager can make recommendations in these areas to improve operations or save money.
A successful payroll manager is typically a good communicator. She usually interacts with other company managers and employees on a regular basis. Her discretion is important as she frequently discusses personal matters such as salaries, bonuses and benefits. Good math skills are preferred. Being well organized helps the manager to simultaneously address multiple issues and achieve the desired results.
To qualify for this job, a bachelor’s degree in finance or accounting is typically required. Some companies prefer a master’s degree in the same concentrations. If a candidate has more than five years of successful administration or payroll management experience, the educational requirements may be waived or reduced.
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