'Update Pay Rates' tool: Bulk update up to 200 employee pay rates - instantly!
We all know that updating employee pay rates can be a lengthy process. Using KeyPay’s pay rate templates to create and edit defined rates of pay for multiple employees is a great timesaver, but editing each and every one to ensure the changes are applied to any and all templates can still be a daunting task. And what if you need to change the rate for just a handful of those employees rather than them all, or need the change to come in effect on a certain date?
Picture this - an annual salary review is conducted within your business, and a large number of employees will have a salary increase of 5% on July 1st. They don’t all share the same pay rate templates, and you need to enter the increase a week ahead of time - what a headache! Previously, a user may have to update multiple templates or edit multiple rates for individual employees and add in commencement dates one by one.
KeyPay endeavours to make this as streamlined as possible, and while pay rate templates are a great shortcut, there are always scenarios where we think “There has to be a better way!”.
Introducing the 'Update Pay Rates' tool
This exciting new feature will allow you to update your employees pay rates in bulk - whether or not they are attached to a pay rate template.
This tool will update the employees’ pay rate all from one convenient location by either $/£/RM amount or %. This change can be applied immediately or even set for a future date! If the date or amount ($, £, RM or %) is the same for multiple employees, this can be copied to all employees selected in the list rather than manually entered one by one. So our user can apply a flat 5% pay increase to selected employees without manually updating pay rate templates or individual pay rates. Thinking back to the scenario we mentioned previously - this means that come July 1st, the system would automatically apply the new rate!
What else can I do with the 'Update Pay Rates' tool?
- Save valuable time - up to 200 rate changes can be applied at once
- Reduce errors - check off employees as ‘complete’ before saving. You can also export changes to double check before marking as complete.
- Using the % increase option will automatically calculate the equivalent $/£/RM rate - another way of reducing errors as there is no need to manually calculate the rate
The Update Pay Rates feature will benefit the user and the employee; as payroll professionals, it’s important you can make these changes as promptly and conveniently as possible, and your employees will be at ease knowing they’ll get their pay increases on time because they have been handled in advance.
Take a look at our support articles on updating pay rates for more information: AU | UK | NZ | SG | MY