payroll specialist
As a payroll specialist, you’ll work in an organization’s human resources or accounts department. To make sure that every employee receives an accurate paycheck promptly, you will oversee all activities associated with your employer’s payroll management system. Other administrative duties that you’ll be expected to take care of include collecting personal information from employees and calculating the number of hours employees work during each payroll cycle. After collecting the necessary data, you organize, tabulate and use it to calculate the appropriate weekly or monthly compensation based on the company's salary policy or hourly pay rates.
Most experts working in payroll departments have a finance and accounting degree or an industry certification in payroll. Computer skills and attention to detail are also needed to prevent mistakes being made when wages and hours are calculated.
Every company has to pay its employees, so payroll specialists can be found in organizations of all sizes. The business sectors you could work in include information technology, retail and construction along with sales and marketing. If you handle the payroll needs of a small organization, your duties could include other human resources tasks like developing onboarding procedures and training programs for new employees. If you are hired by a larger company, you will likely handle payroll matters only while working alongside other human resource professionals and payroll specialists. You could also find a payroll specialist’s position with a human resources consultancy firm that handles wage and hours matters for small and medium-sized businesses.
Would working as a payroll specialist suit your skills and interests? Then read on to find out what competencies and qualifications you need to thrive in a payroll specialist role.
view jobs near youaverage payroll specialist salary
Would you like to know what a payroll specialist earns? Where the highest salaries are paid for a payroll specialist? Then check out this payroll specialist salary page and find out all about the salary of a payroll specialist in the USA.
increasing payroll specialist salary
As a payroll specialist, your compensation package is influenced by personal factors such as your education level or the amount of experience you bring to the table. The business sector and part of the country you work in could also influence your compensation. Employers in many fields are willing to pay premium rates to attract experienced candidates who possess the skills they seek. If you have a degree and additional certifications, your take-home salary could be higher. If you want to increase your salary, you could look for training opportunities or obtain relevant certifications.
The size of the company you work for could also impact your earning potential. Small companies rarely have the means to pay top salaries, but they often have friendlier and more supportive workplaces. Multinational corporations tend to pay more, but the work is more complex and demanding.
types of payroll specialists
Payroll specialists can be junior payroll specialists or lead specialists, depending on the size of the organizations they work for and their job duties.
- junior payroll specialist: As a junior payroll specialist, you’ll perform the bulk of the payroll department’s administrative tasks. You could work on your own or with a small team to verify staff information, check working hours and deductions and calculate payroll. You may also be tasked with disbursing paychecks. Most junior payroll specialists report to lead administrators.
- lead payroll specialist: As a lead payroll specialist, you’ll supervise other payroll specialists, organize work schedules and audit payroll reports. Lead payroll specialists often handle management and executive compensation, and they are sometimes called upon to draft or revise corporate payroll policies.
- external payroll specialist: If you work for a company that provides payroll outsourcing services, you’ll handle the payrolls of several small and medium-sized businesses. You probably won’t visit any or your employer’s clients, but you will be expected to make sure that they remain in compliance with federal, state and local wage and hour laws.
working as a payroll specialist
Working as a payroll specialist involves processing employee compensation and handling other administrative duties. Read on to discover more about a payroll specialist's typical tasks and work schedules.
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payroll specialist job description
Some of the standard duties of a payroll specialist include:
- collecting employees' details: A payroll specialist must collect and organize every employee’s personal information. This information must also be protected from hackers and other malicious individuals and kept up to date. To ensure that only current employees receive paychecks, you will add new hires to the payroll and remove terminated or retired workers.
- maintaining records of work hours: As a payroll specialist, you ensure that workers are properly compensated for all of the hours they work. To accomplish this task, you may have to monitor or revise your employer’s procedure for clocking in and out. Employees will expect you to respond quickly and compassionately when their paychecks are incorrect, and your employer may also want these matters to be dealt with quickly. One of the most important parts of reconciling hours and wages is determining how many hours of overtime each worker is entitled to.
- calculating and processing employee salaries: You calculate how much each employee is owed after determining the number of hours they worked. To process payroll properly, you’ll need to know which workers are entitled to overtime pay. The Fair Labor Standards Act requires hourly workers to be paid overtime when they work more than 40 hours during a workweek, but the law does not cover outside salespeople and executives.
- preparing and processing payroll deductions: The voluntary and involuntary paycheck deductions you will be expected to keep track of as a payroll specialist include Social Security and Medicare withholdings, state unemployment payments, union dues, retirement plan contributions and garnishments. You may also be expected to ensure that this money is sent to the relevant parties. This is a very important part of the job because the penalties for not submitting involuntary payroll deductions in a timely manner can be severe.
- handling payment issues and preparing payroll reports: A payroll specialist prepares and files reports dealing with voluntary and involuntary deductions and taxes. They also help employees when their paychecks are late or incorrect. These procedures may have to be changed if local, state or federal payroll laws are revised.
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payroll specialist work environment
As a payroll specialist, you could work in any industry as every company has payroll needs. Almost all payroll specialists work in an office environment and use computers running standard business applications. Some payroll specialists work in basic offices, but others take care of their tasks in state-of-the-art settings that feature ergonomic seating and soft lighting. Payroll specialists are usually expected to be on-site to answer employee questions and handle problems, but your employer may allow some of this work to be done remotely. If you are hired by a company that provides payroll services, you may be able to work from home.
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who are your colleagues?
Payroll specialists are often members of an office team. You may work alongside recruitment specialists, accountants and bookkeepers, but you will probably interact most often with an office manager, operations manager, human resources manager and IT support personnel. Ensuring that payroll taxes are collected and paid is a very important part of a payroll specialist’s job, so you may work closely with your employer’s compliance team.
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work schedule
Most payroll specialists work a standard 40-hour workweek, but you may be asked to come in earlier or stay later on the days employees are paid. You could also be asked to work extra hours when quarterly, biannual or annual reports have to be generated. Payroll specialists tend to be classified as administrative or management employees, so they are not usually entitled to overtime pay. Small companies that only have a few employees may hire part-time payroll specialists, but the position is usually a full-time job. You will probably be able to take an hour for lunch if you accept a position as a payroll specialist, and you may also be entitled to paid time off when you take a vacation.
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job outlook for payroll specialist
Employers know that morale improves when workers are paid correctly and on time, and they also understand that payroll deductions like Social Security and Medicare contributions must be calculated properly. This is why payroll administration is likely to remain an important field. Large organizations usually have a dedicated team to handle their payroll matters, but many smaller companies use outside service providers.
If you work in an office or human resources department, you could be offered a promotion when you gain experience or obtain relevant certifications. Payroll specialists at large companies sometimes become office managers, payroll supervisors or human resources coordinators, but the opportunities for career advancement could be far more limited at an outsourcing company.
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benefits of working for randstad as a payroll specialist
Working through Randstad offers you a range of benefits:
- being paid weekly
- flexibility
- always a contact person you can fall back on and ask for help from
- many training opportunities
- a range of jobs in your area
Want a permanent contract? But you wonder why it would be interesting for you to work with a staffing company? A temporary job as a payroll specialist is often a stepping stone to an attractive permanent job. Every year, thousands of people earn a permanent contract with great employers thanks to a temporary job found through Randstad. What's more, many companies recruit their permanent employees through Randstad too!
payroll specialist skills and education
There are no generally accepted specific requirements for becoming a payroll specialist, but having relevant qualifications and experience could improve your chances of landing a good job. One of the first things that a prospective employer will look at if you seek a position as a payroll specialist is your educational background.
A high school diploma or GED could be enough to get an interview for a payroll specialist position, but a degree would increase your chances of being hired. A degree in any field would likely impress a hiring manager, but a bachelor’s degree in accounting, finance or human resources management would be most useful. If your long-term aspiration is to become a senior payroll or human resources executive, a master’s degree could help you to reach your goal.
There are also several professional credentials that could give your career as a payroll specialist a boost. The Uniform Payroll Certification from the National Association of Certified Public Bookkeepers is highly respected, and you will be given up to a year to prepare for the test. The Fundamental Payroll Certification is certification that you could obtain right away as there is no work experience requirement.
skills and competencies
Some of the skills and competencies that payroll specialists should possess include:
- problem-solving skills: Incorrect or late paychecks can damage company morale, so payroll specialists should be able to handle these issues when they arise. This involves going through columns of figures to identify where the mistake was made and then taking the steps necessary to replace the incorrect paycheck or cut a second paycheck.
- computer and software proficiency: As a payroll specialist, you will use various computer applications to store employee data safely, keep track of the number of hours worked, process paychecks and prepare payroll reports. These programs are designed to be easy to use, and most of the companies that make them offer in-person or online training.
- mathematical skills: To succeed as a payroll specialist, you will need to be comfortable working with numbers and complex data. If your math skills are good, you should be able to avoid mistakes when calculating wages and deductions.
- organizational skills: Payroll specialists have a lot of tasks to complete during each pay cycle. If your organizational skills are good, you’ll find it easier to plan and complete these tasks. This is important because employees expect to be paid on time. You will also have to meet strict payroll tax filing deadlines.
FAQs about working as a payroll specialist
Here you will find answers to the most frequently asked questions about payroll specialists.
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what skills do payroll specialists need?
Payroll specialists work with numbers, so you need to have good math skills if you decide to pursue this kind of work. Payroll specialists must also be discrete and detail oriented because they deal with confidential information and handle important tasks like collecting local, state and federal taxes.
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what is a payroll specialist job description?
Payroll specialists gather information about employees and keep it secure, make sure that each worker is paid correctly for the hours they work and organize payroll deductions like Social Security and Medicare contributions and union dues. They also ensure that the money deducted from paychecks is sent to local, state and federal revenue collectors, unions and retirement plans.
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what degree does a payroll specialist need?
Having a college degree could make it easier for you to find a position as a payroll specialist, but some openings only require a high school diploma or GED. There are also certifications that you could obtain to improve your chances of being hired. The most popular payroll specialist certifications the Uniform Payroll Certification and the Fundamental Payroll Certification.
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is payroll administration a stressful job?
Working in an office can be stressful when deadlines are looming and time is running short. As a payroll specialist, you can expect to deal with more work-related stress on paydays and when payroll tax filing deadlines are approaching.
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is payroll specialist a good career choice?
Payroll administration is considered to be a good field because every company wants to pay its employees on time to improve workplace morale. This is why payroll specialists are often offered attractive salaries and flexible work schedules.
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how do I find a job as a payroll specialist?
Applying for a payroll specialist job is easy: create a Randstad profile and search our payroll specialist jobs for vacancies in your area. Then simply send us your CV. If you do not have a resume, no worries. Just check out our resume builder. This state of the art tool will help you to create your own resume. Need help with your application? Check out all our job-hunting tips!
