The job of a payroll manager is actually one of the most important positions in every company or organization. In this article we will briefly look at what a payroll manager is, what they do, and how you can qualify to be one.
What Is A Payroll Manager?
A payroll manager may simply be referred to as the person who is absolutely in charge of creating and maintaining the pay system that is used in a particular organization or company. He or she basically determines how much is paid to each employee and also the frequency of the payments.
What Does A Payroll Manager Do?
Depending on the complexity of the structure of the organization, payroll managers are often involved in a lot of key decision making in the company. They ensure that the appropriate amount of take home pay has been accurately paid to each employee, and that the correct and appropriate amount or percentage has been deducted from the gross pay, in accordance with all regional and local regulations.
Another function they perform is that they help the HR department orientate new employees when they are hired. They set how much new employees will be paid and the frequency of payment, and also set how much needs to be deducted from their final paycheck. When employees are promoted or demoted, payroll managers help to adjust their paychecks and other bonuses accordingly.
The payroll manager is also in charge of retirement benefits and funds, or stock funds, if the company offers any of these services. He or she will be the one answering questions from employees and enlightening them on the right steps to take and the appropriate procedure to follow.
What Education Requirements Do I Need To Become A Payroll Manager?
The minimum requirement usually needed by employers for the post of a payroll manager is a high school diploma and reasonable computer skills. But in a competitive job market, you need much more than a diploma. At least a two year degree will be helpful but for a better job prospect, you will need a bachelor's degree in accounting, human resources or even business administration.
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