This week is National Payroll Week which celebrates the hard work by America’s 150 million wage earners and the payroll professionals who pay them. Together, through the payroll withholding system, they contribute, collect, report and deposit approximately $2.08 trillion, or 68%, of the annual revenue of the U.S. Treasury.
Payroll professionals are responsible for the lifeblood of America’s workers—their paychecks. In addition to withholding for child support payments, Social Security, health insurance premiums, and retirement plans, payroll professionals—to put it plainly—put money in people’s pockets every payday. Whether it’s cash in an envelope, an electronic deposit, or a paycheck, this is where the buck stops, or from a worker’s perspective, where it begins. America’s workers rely on and trust the nation’s payroll system and the people who administer it. In addition to paying workers accurately and on time, these men and women work tirelessly to maintain compliance with ever-changing federal, state, and local regulations, helping their employers avoid costly penalties.
National Payroll Week (NPW), established by the American Payroll Association in 1996, was created to increase awareness of the payroll and payroll accounting processes. NPW provides a focal point to build awareness of how processes are changing and becoming more cost-effective and efficient. Automation, employee self-service, and advances in systems technology are significantly changing payroll.
Today’s payroll professionals are leading the way in discovering new ways to save money and increase efficiency.
At TalentWave, payroll is an essential part of what we do every day for many of our contractors, consultants and clients. Synergy’s payroll services are on time and accurate with exceptional benefits that keep contractors and consultants happy. Many enterprise clients refer flexible workers to Synergy who, by virtue of the project or their business structure, can’t be engaged as an independent contractor. In these situations TalentWave serves as the Employer-of-Record (EOR) for the duration of the project assignment.
We have an exceptional team of payroll professionals at TalentWave, many with the CPP certification from the American Payroll Association. We would like to wish all of our payroll team members “Happy National Payroll Week” and thank you for all of your hard work and commitment to being the best in the business.