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Payroll Management Tips For Your Company. For any business venture, managing the company’s payroll is critical. In simple terms, money paid by a business to its employees over time is the payroll. Whether a business has only two or 200,000 employees, the payroll is the most important part of its finance structure, consisting of both accounting and administration of the payroll. Payroll Management It's Importance In Business Global organizations are faced with the challenge of managing human resources. Added into this challenge is the process of achieving substainable profit growth. This issue is often transferred to a sub-section of a company, as managing the human resource aspect of this policy is often limited to the human resource department. Payroll management policies and procedures are often initiated to achieve this growth. The initiation of this service often provides unmatched benefits, along with growth and management achievements.