Despite common portrayals, the world of human resources is more than conducting interviews and onboarding new hires. It’s a vastly complex branch of an organization designed to handle some of the most complex issues, such as managing payroll and unemployment claims. While it can be challenging to juggle all the areas, new software solutions make it easy to effectively manage.

The evolution of these payroll services comes at a time when it couldn’t be needed more. Using these advancements is critical to your business to help manage what unemployment can do to your company, especially noting unemployment insurance claims reached their highest levels in years at the end of 2017. Knowing this, you can’t afford to miss anything.

Understand the Impact of Turnover

One of the greatest benefits of modern payroll services is the ability to track information about an employee, as well as overall turnover at your company. It can be challenging to monitor every new hire and see significant milestones, but with specialized software, it alerts you at designated times. For example, employees are eligible for unemployment benefits after being with you for 30 days. Using software to alert you prior to this date can allow to make a decision, if you want to let them go due to poor fit or performance.

Unfortunately, companies that experience higher rates of turnover overall may be subjected to higher taxes to contribute to unemployment insurance. On your own, keeping track of turnover rates can be challenging, but payroll services can help you monitor without extra effort.

Calculate Taxes

Unemployment insurance is paid to employees through the taxes you pay each year. Specifically, it’s what you pay into the Federal Unemployment Tax Act (FUTA). Plus, each state has its own version of this, known as the State Unemployment Tax Act (SUTA), adding to the confusion. Some services offer tax calculation abilities as well, so you know exactly how much you’re paying each year and what you will pay going forward.

Track Claims

Understanding that unemployment insurance claims are up is only half the battle. You need to be proactive in disputing claims you feel are invalid and finding inaccuracies in filed claims. Without a program to assist you, it’s likely you’ll miss important details in the complexity of the system and contribute to the more-than-10 percent of unemployment insurance claims that are overpaid.

Do It All With Unemployment Tracker

Don’t get overwhelmed by the details – trust the Unemployment Tracker software to monitor your unemployment insurance claims and pull all the relevant details to make sure you aren’t overpaying. Try a demo today of our unemployment claims managing software and see how we can work for you!