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[Video] 3 Construction Payroll Problems Your Prospects Haven’t Solved

businessman at chalkboard trying to solve mathematical problems

Construction contractors offer terrific opportunities for HCM sales reps, because they face unique time-and-attendance problems that most companies in the industry haven’t solved—but desperately need to. Every time they issue a paycheck, they’re taking certain risks that could result in government audits, fines, employee disputes, or public lawsuits.

Fortunately, we can give you insight into their pains that gives you a unique advantage over the competition. Here’s a quick overview of the time-and-attendance challenges construction companies are facing—and a video that’ll help you close more deals.

Prevailing Wage & Certified Payroll Reporting Problems You Can Fix

Construction companies need to manage crews and individual employees’ time on jobs and contracts. They also need to stay compliant with ever-changing regulations for prevailing wages, fringe rate, and union requirements. It’s a juggling act that’s bound to see balls dropping—unless you’re there to lend a hand.

There are three major challenges that construction companies need you to help them solve.

Time Collection and Tracking

Construction companies need to know for certain that their employees’ hours and earnings have been accurately captured and applied to the respective jobs and contracts. There’s no sure way of knowing the calculations have been correctly applied to each paycheck, unless you have an automated integration system like Time Bank. Time Bank takes time-and-attendance data and applies the various rules to ensure time collection and tracking are done accurately every time.

Prevailing Wage Compliance

Construction companies that contract with the government have to stay compliant with prevailing wage and other employee benefits under the Davis-Bacon Act. These rates are project- and location-specific (e.g., a drywaller in New York City is paid a different rate than a drywaller in Albany, NY). Without Time Bank, contractors need to stay on top of prevailing wage trends for every location their employees work. But Time Bank makes it easy to stay in compliance, and even ensures that employees get the right FLSA-compliant overtime rate.

Certified Payroll Reporting

Contractors that work on government projects also need to submit certified payroll reports each pay period. These reports prove that they paid out compliant rates for the work each employee performed. For clients using ADP Workforce Now payroll, Time Bank assigns day-of-week and other logic for certified payroll reports. The hosted solution reads payroll results and automates Federal, state, and local reports.

Close More Deals with Construction Companies

Sales reps are saying that they close more deals when they share our Time Bank videos with prospects. Check out this quick video to discover how IDI solves construction payroll problems—and share it with your prospects!

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