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While it was once commonplace for an employee to stay with one company their entire career before retiring, over the years it's become the new norm for a person to change job positions semi-regularly. According to a 2019 Bureau of Labor Statistics survey, the average number of jobs a person has in a lifetime is 12. Alongside this, many workers only spend about five years or less in every job. No matter what type of work environment you try to create within your company, with these numbers you're going to see resignations come your way. While there may be some job specific tasks that you need to add to your checklist, here are some payroll tasks that will need to be completed when an employee is leaving, no matter what type of industry you may work in.
Just like hiring new employees, it's important that you create and follow a process for employees that are leaving. This helps make sure that not only are you following all state and national laws, but that you're also creating a positive experience for both you and your employee as they prepare to leave the company. Still have questions or need help updating your company's payroll? Contact the experts at Future Systems!