What Is Beti By Paycom & Is It Worth It?
Find out if Beti, an innovative system for self-service payroll where employees can enter their payroll info and manage their benefits, is right for your small business.
Payroll is often listed as a pain point for many companies. It can be a time-consuming process, and errors can be frustrating for both employees and employers alike. Paycom is a leader in both Human Resources and Payroll technologies and believes that it has come up with a revolutionary solution. That’s why it has introduced Beti, which the company describes as an industry-first self-service payroll system where employees essentially handle their own payroll.
At first, this may sound like a fad, but more and more companies are trending toward this type of personal payroll, finding that it cuts down on costs and keeps employees more involved and informed. If this is something that your business has considered, or if you’ve had issues with payroll in the past, Beti will likely be an intriguing option and worth a closer look.
Here’s a brief overview of what Beti by Paycom provides.
Table of Contents
What Is Beti?
Let’s first go over what Beti by Paycom actually is and then discuss whether or not it’s the right solution for your business.
Beti allows employees to enter their payroll information and control and manage their benefits. Keep in mind that the program does not allow employees to enter their own pay rate, but it does walk the employees through the payroll process and gives them insight into such things as deductions and taxes. Paycom views this as a way to cut down on time and money spent in the HR department on payroll, so they can focus on other matters. It’s also a way for employees to see exactly what their paychecks will look like from week to week before payroll is even run, reducing errors and questions that may come up once payroll is delivered.
- Cuts down on labor for HR
- Adds transparency for employees
- Reduces errors
- The system is new and unproven
- Potential employee hesitancy
How Does Beti By Paycom Work?
While it may seem like a potential liability to have your employees entering their own payroll information, the beauty of Beti is that it takes much of the legwork out of the process and quickly and intuitively walks individuals through handling payroll, making sure they get paid on time and accurately.
First, employees receive a notification for when payroll is about to be processed. They then can access Beti on a desktop or mobile device with their Paycom login and approve their payment while finding out exactly how much they will receive and when it will be deposited into their account. There is an easy-to-follow checklist that can walk them through the process in a handful of clicks.
Employees can also view things such as taxes and deductions as well as their HR benefits and make any necessary changes. It’s a simple process that can be managed in a matter of minutes.
Employees already handle many aspects of the payroll process, whether it’s managing time cards, submitting PTO requests, or choosing yearly benefits. So handling their own payroll really isn’t a significant burden, and, in many instances, employees appreciate having immediate access to that information.
Here are some of the ways that Beti can potentially help your small business:
- Improved Data Accuracy: With Beti, employees are guided through the quick process of approving their checks, and they have better knowledge than anyone what information is correct and if they need to make any upcoming changes.
- Added Insight For Employees: Having hands-on experience can help employees feel more involved in the payroll process and really see where their money is going and what to expect in the future.
- Fewer Corrections: Even if an employee makes a mistake on their entry, Beti can recognize it and instantly create an alert, allowing for the problem to be corrected immediately instead of potentially being brought up after payroll has gone through. This can also lead to fewer payroll and funding fees.
- Benefit Analysis: Benefits can often be taken for granted and difficult to access with questions. With Beti, employees have that information in their hands at all times and can figure out what’s right for themselves and their family members.
- Simple Interface: For any employees who aren’t particularly tech-savvy, they may initially feel like handling payroll themselves is an overwhelming task. However, Beti’s process is extremely simple and helped by a simple interface that provides all of the information this is needed upfront along with easy-to-follow instructions.
How Much Does Beti Cost?
In order to receive pricing information, you’ll have to contact Paycom directly. Paycom has a form that’s easy to fill out on its website to set up a meeting if you’re interested in implementing the service. You can also reach out and give Paycom a call. Ultimately, you’ll receive a custom quote based on your business needs and the number of employees you have.
Is Beti Worth It?
While it may seem revolutionary now, the idea of employees running their own payroll may quickly become commonplace for businesses. It’s a simple way to cut down on costs and, at the same time, give your employees more information and access in the process. And with as few steps as it takes to complete, it isn’t an additional burden for employees each month.
Paycom is leading the charge in what may be a wave of employee-led payroll services, and it’s done a nice job with Beti. The program is simple with a nice interface, and the checklist makes it very difficult to make mistakes. Employers can simply enter an employee’s rate of pay and the payment schedule, and the app and the individual take care of the rest. Employees can feel like they have a better understanding and more ownership of the payroll process as well as other aspects of HR.
If you think your business could benefit from a simple, scaled-down payroll service, Beti is definitely worth looking into, and putting in a call to Paycom for more information and a quote should be high on your priority list.