Posts in category: Business

Ask any HR Manager and he will tell you that the most valuable resource in the organization is the employees. Managing them resourcefully will bring success, whereas poor management of this resource will bring failure. How do you manage this resource? Well, the answer is simple. If your attendance management is poor and leads to frustration, you can be sure that the productivity of the company suffers and this will lead to reduced profits.

What you need is an efficiently performing attendance management system that can improve the overall efficiency.

This concise Q & A session will give you a clear picture of how to improve productivity by efficiently managing your employee attendance.

What is the ideal way to manage employee attendance efficiently?

A poorly managed attendance Management will negatively affect the payroll.  Any errors in your attendance will result in either over-paying or underpaying your employees. When you are manually managing the attendance you not only consume more time but are also prone to serious errors. If your workforce is large and spread over different locations, then you can imagine the problems this would cause to your payroll and the ramifications thereon.

Using custom-made software or other applications will not improve the situation much. The most effective solution is to take the services of an outsourcer offering Payroll Software that is fully integrated with HR Management. The attendance module in this package will process the data and provide error-free calculation of working hours, overtime, and loss of pay details. This will make payroll processing easier and simpler and provide highly accurate output.

Why is it important to have a clear Attendance Policy?

Formulating a clear Attendance Policy is the first step in managing your attendance effectively, and this is one of the biggest problems faced by companies. When you don’t have a clear Attendance Policy, you will not be able to regulate attendance effectively. By using a software or application, you will not be able to manage attendance properly as they are time-consuming and prone to errors.

The ideal solution is outsourcing. When you outsource these operations to an efficient service provider, you can rest assured of a high-performing system that will give error-free results. When you outsource, you will be able to formulate a clear Attendance Policy. By doing so you will be able to arrange the shifts, shift timings, week-off policies and create attendance regulations for each employee based on the nature of duty. This paves the way for systematic and error-free attendance management and relieves the management from a lot of stress.

Do you feel that lack of efficient connectivity is creating confusion for both the employees and the management?

Lack of proper connectivity affects both the employees and employers. For employees, the need is to have their attendance details easily accessible and at the required time. This will not be possible when you are using software or application that has their limitations. With an outsourced, cloud-based package you can be assured of an application that is accessible from any device. Mobile connectivity is the need of the hour and this is what you get when you outsource to an efficient Service Provider.

Easy access to attendance reports using a Smartphone will enable the employee and employer to access valuable information on the move. These applications are provided with an efficient ESS portal that allows access to data from anywhere. Location-wise, shift-wise information is now at your fingertips.

Are you in a situation where you are not able to keep track of your employees?

This is a situation that many employers find themselves in especially when there is a distribution of workforce across different locations. Custom-built software or applications will not be able to handle this aspect effectively.

If you are looking to keep track of all your employees and gauge their performance, then the ideal solution is to outsource to a Service Provider.

When you associate with a Service Provider like GetifyHR, you are associating with a high-performance cloud-based tool that keeps perfect track of all your employees on a day-to-day basis. This system is supported by Geo-tracking and Geo-fencing facilities, and this helps to locate each employee concerning the location he or she is posted. The log-in and log-out times are properly recorded and with the integrated Biometric that is in-built, the performance of each employee comes under minute scrutiny. The HR team will have access to records that allows them to make the right decisions on the allotment of work to the right employees in different locations.

Conclusion

An efficient Attendance Management system is the best solution to avoid employee-related issues. Present-day businesses are in dire need of a perfectly working application that integrates Payroll, HR management, Attendance & Leave Management, and Statutory Compliance rules and regulations. Only then can the management and employees work cohesively for the growth of the organization.

GetifyHR with its proven experience and professional approach in handling these tasks is the ideal choice to associate with. Our cloud-based application can seamlessly handle Payroll, HR management, Attendance & Leave management, and Statutory Compliance requirements with perfect integration.

Leave management is a highly challenging task that can frustrate even the best of HR Managers. The use of outdated processes worsens the scenario and you are left with anxiety and frustration on both the employer and employee sides. The use of outdated tools and manual errors that creep in while entering the data gives room for inaccuracies. There is nothing worse than seeing inaccuracies in one’s leave balances.

This would create chaos for both the Administration and the employees and will have a negative impact on the business.

What is Leave Management?

Leave management is a set of processes that tracks the employee leave in an organization. Right from receiving the leave application, leave approval or rejection and tracking of employee leave is a task that needs a high degree of perfection. The task includes routing the application through a hierarchy of decision-makers, taking the decision and notifying it to the employee, updating the payroll and the employee attendance records, and the company’s leave policies.

This article discusses a few of the challenges faced by employers in managing employee leave.

1.  Are Employees aware of the number of leave days they have left?

No. Most employees are not aware of their leave dues. This is one of the biggest challenges faced by the employer, a challenge that both the HR team and the employees are left searching for an answer. The reason is that it is pretty difficult to keep track of the number of days left when you use outdated applications. When an employee is not aware of the number of leave days he has, he will send a request to the HR team to get the answer. This prevents them to plan their activity as the answer has to come from the HR team. This takes time and in the meantime, the employee stands to lose time and money.

During this process, the HR team will be flooded with leave applications and will lose valuable time confirming the leave dues of each employee. This will reduce their time and business activities and become frustrating for both the HR team and the employees. The ideal solution in this situation is to outsource Leave Management to an efficient service provider who can handle all aspects of Payroll including Leave management.

GetifyHR is ideally placed to provide this service with its efficient cloud-based payroll application.

2.  Do Inaccuracies in the Payroll create problems in managing leave?

Yes. Inaccuracies in payroll do create problems in managing leave. When we use outdated applications, the possibility of errors creeping in is high. The Payroll reflects such errors in the Leave management module.  This will create more problems for both the HR team and the employees. For example, in cases where some leave are paid and some unpaid, if improper entries are made then you are sure to get inaccurate reports. You will not be able to confirm the dues correctly and this will lead to confusion and distrust between the employer and the employee.

The only solution is to opt for an outsourcing module that provides a full-fledged automation system that seamlessly integrates all the modules of Payroll, HR management, Attendance and Leave management, and Statutory Compliance. This will help you to maintain greater accuracy and make your payroll and leave records error-free.

3.  Does following a proper Leave Policy assist accurate leave management?

Yes, maintaining a proper Leave Policy will help you to handle leave much more accurately. The Leave Policy of each organization has to be properly framed according to the work culture of the company. Once this is properly established, you will be able to handle the leave of employees in a perfect and non-discriminatory manner. This leave policy has to be shared with each employee so that they are fully aware of their leave dues. The moment such a system is in place, and then all the problems associated with employee leave will become simpler and error-free. This will also enable proper scheduling or re-scheduling of leave according to the needs of the employees.

4.  Does an inefficient Leave Management System leave the employer and the employees frustrated?

Yes, when you depend on an inefficient Leave management system both the employer and employee are frustrated. The frustration stems from the inadequacies in the leave management system and the unintentional errors in data entry that give erroneous reports. Some companies still depend on spreadsheets and other outdated applications that prove to be inadequate to handle leave. This creates a lot of confusion when a leave request is made and what we get are a highly frustrated employee and an apologetic HR team.

This is not a happy situation to be in and the only solution is to outsource your payroll to an efficient service provider. GetifyHR with its vast experience and backing of a professional team is the ideal choice in this situation.

Conclusion

We have highlighted the importance of an efficiently working Leave Management module if you are to avoid leave related problems with your employees. Under the present scenario, the ideal choice is to outsource this task to a reputed service provider. Present-day business requires a Payroll and HR management system that can not only handle Payroll but also HR activities like Attendance and Leave management and Statutory Compliance issues.

Choosing a cloud-based application is ideal as it is not only efficient but also reduces the expenditure on special hardware. GetifyHR, with its proven experience and professionalism, offers the ideal tool to handle these tasks. The outsourcing application offered by GetifyHR can seamlessly handle Payroll, HR Management, Attendance & Leave Management, and Statutory Compliance requirements.

Payroll Management is a time consuming and tedious process when attempted manually.  The inaccuracies that creep in will not only create greater headaches for the management, but will also provide ammunition to the employee to question them.  This would create mutual distrust and lead to production losses.

Being a highly critical operation in any business, the payroll operations can be efficiently serviced by outsourcing to professional service providers.  Payroll outsourcing provides great benefits as it not only brings greater accuracy in the rather mundane task, but also enables the HR team to focus on more important operations of the company.

The COVID-19 pandemic has forced companies to re-adjust their functioning and this has entailed greater use of technology and professional expertise to optimise productivity and improve efficiency.  This pandemic has thrown regular working out-of -gear and also forced governments to constantly modify their rules and regulations to suit the employees.  This has necessitated the management to get regularly updated, and the best way to achieve this is by outsourcing your payroll to professional service providers.

What is Payroll Outsourcing?

Payroll Outsourcing is a process in which businesses hire the services of professional firms to manage all the payroll functions.   This not only save money, time and effort, but also frees time for their HR team to focus more on the core activities of the company.  When compared with in-house payroll management, outsourcing payroll provides greater accuracy and saves time.  In this article we shall delve deeper into the benefits of payroll outsourcing and how it helps businesses to grow.

Saves time and improvise productivity.

Manual payroll processing or in-house payroll processing is both time consuming, costly and frustrating.  Generating the payslips on time, every time, keeping track of the deductions, the dues, fresh hires, terminations, and complying with the Government’s statutory requirements are all a highly complex task.  Whether we like it or not, these have to be generated time and again without excuses and without mistakes.

When you outsource this operation to a professional service provider, you save time, and manpower and this will allow you to focus more on core business activities.  The HR team and the Accounting department are free to use their expertise on other important tasks that would improve productivity.

Minimizing Expenses

Minimizing Expenses is a vital factor when you are looking to improve your company’s income.  This can happen only when you are able to save time as the more time you save the more you earn. By outsourcing payroll to a professional service provider, you can be assured that all information regarding payslips, deductions, tax dues and statutory returns are managed in a cost-effective manner.

Payroll tasks like generating the payslips, calculating the deductions, the hours worked, paid time-off, leave availed, disbursing the pay checks, filing the tax returns are generated with ease and just with the click of a few buttons.  This enables the saving of time which when factored with the cost will show tremendous saving. This not only allows you to refocus the role of your HR team, but also ensures cost cutting due to use of technology, reduction in man-hours and space required to house the payroll department.

Overall, payroll outsourcing takes on the task of tracking the employees, reconciling the accounts, and managing the complex statutory compliance issues and tax administration.

Usage of latest technology!

The past few years have shown rapid technological advancements in the use of computers and the internet.  Top ranking Payroll Service Providers use the highly advanced cloud-based systems to manage business data.  This makes the system more efficient and robust, and provides greater accuracy and transparency in payroll processing.

Professional Payroll Service providers like GetifyHR use advanced payroll technologies to manage the process with ease by seamlessly integrating Payroll Management, HR Management, Attendance & Leave management, Task management and Statutory Compliance.

Enhances the functioning of HR Department.

One of the important benefits of Payroll Outsourcing is in freeing the HR department to focus more on core business activities.  Manual payroll processing or in-house payroll processing will force the HR Department to concentrate more on this aspect thus disrupting their role in recruitment and employee retainment issues.  Outsourcing this activity will allow the HR team to focus on core functions such as:

• Monitoring the Employees
• Improving Employee retention
• Attracting better talent through job satisfaction
• Simplifying the process of onboarding
• Arranging training sessions to reduce the skill gaps

In effect, the HR team becomes more dynamic and can specialize in people management for the benefit of the company.

Ensuring enhanced security of data.

Payroll processing is a complex process that has its own risks.  The risks are mainly identity theft, tampering with data for personal gain, and misappropriation of funds.  Outsourcing payroll to a reputed service provider can bring in a high degree of security.  The important data is stored in highly secure cloud-based servers that ensure the very best of protection and data encryption.

Implementing Statutory Compliance.

Statutory Compliance is a critical component of business functioning.  Whether you have 20 employees or 100 employees, every business is liable to comply with Government rules and regulations.  Complying provides protection to companies to avoid legal issues.

When you outsource payroll, the process is simplified and enables the company to comply and avoid payment of fines and other legal issues.  The government regulations are prone to frequent change, therefore, the company has to be full updated as and when the changes are made. This task is easily enabled when you outsource payroll.  A professional payroll outsourcing service provider has a team of dedicated experts to keep clients updated of the changes, thus ensuring compliance at all times.

Efficient Employee Self-Service features

Providing an efficient Employee Self-Service (ESS) facility is an important feature that you can access when you outsource your payroll.  Having an integrated payroll system with an employee self-service option has a lot of benefits to both the employees and the employer.  Some of these benefits include:

• Assignment of tasks in a hierarchical fashion.
• Monitor the time each employee spends on a task.
• Update the personal information of employees
• Previewing pay information
• Viewing the Attendance & Leave information
• Providing Mobile apps and remote access to the services.

GetifyHR provides high performance payroll outsourcing module that encompasses an efficient ESS system.

Conclusion

Payroll processing is a critical business function that may not directly affect the business.  However, if the process is inefficient, the overall business would be badly affected. A professional payroll outsourcing service provider offers a platform that integrates Payroll management, HR management, Attendance & Leave management, Statutory Compliance and Task management.

GetifyHR has achieved excellent results with its integrated cloud-based payroll module.  You can be assured of high level accuracy and the support of highly qualified experts to manage your payroll. This will not only enhance productivity but also give the client the ability to focus fully on growing the business.

Introduction

Businesses should focus fully on their core activity and what they are good at and leave other functions to experts. Payroll is one of those functions that deserve the assistance of experts.

Payroll processing is not only a vital function but is also a highly complex operation and when managed perfectly will save the company a lot of time, money, and manpower. Outsourcing this vital operation to a reliable service provider is the best solution. Importantly, it will keep you on the right side of the law as it will enable you to stay compliant with the statutory rules and regulations.

The difficult part is to choose the right partner to handle the payroll operations. You should first decide whether you want to outsource the payroll module alone or also outsource to someone who can also handle the HR module. Ideally, it is advisable to outsource to a company that can handle both payroll and HR requirements as it will help you to handle month-end operations without much stress. Statistics show that one out of three employers has been penalized for mistakes in the payroll and for being non-compliant. This guide will enable you to ask the right questions and help you to make the right choice.

What do you need to decide first and foremost?

Before we jump into the aspect of choosing the outsourcer, you have to be very clear about what your requirements are.

– First, identify your company’s needs very clearly.

– Decide on your plans for future developments.

– Decide on how much funds you can allocate for this operation

– Be clear about the number of employees whose payroll will be handled by the service provider.

– List out the Statutory Compliant rules and regulations that you have to comply with.

– Whether future staff/employee recruitments will also be handled by the outsourcer.

– Whether you require a fully functional Employee Self Service portal to track time and attendance.

Tips to choose the right service provider

The next step is to choose the Payroll Service Provider that best suits your requirements. Here are a few points that you have to look for in an outsourcing partner before you hand over this vital operation.

1. Choose an outsourcer who is efficient in handling Payroll and HR management.
2. Verify their Experience.
3. Identify the Specializations that they handle.
4. Software features that they offer and the technology that they use.
5. Who takes responsibility for mistakes?
6. Flexibility in information transfer.
7. Whether the vital data is secure?
8. Their Service commitment.
9. Pricing of their Services.
10. Their ability to handle Statutory Rules and Regulations.

Let us now delve deeper into these points to understand their importance and why we should have the right answers before making our choice.

1.  Choose an outsourcer who can handle both Payroll and HR management:

This is the ideal choice because you will be able to free a lot of time for your HR team to handle the more important core business activities. On the other hand, if you outsource these activities to two different companies you may not be able to function smoothly. A sound choice made here would enable you to handle these issues without much stress and you will find that the operations work seamlessly without any hiccups.

2.  Verify their Experience:

This is very important as this industry matures with experience, the more the experience, the better the service. You can verify with the clients of the service providers about their experience before making your choice.

3. Identify the Specialization that they handle:

Identify whether they can handle the Payroll and HR operations of the core sector that you handle. Every industry has its complexity when it comes to Payroll and HR management, therefore handing over this operation to someone who is not specialized in this activity will only create complications that would upset the entire working of the organization.

4.  Software features that they offer and the technology they use:

The use of advanced technology has vastly improved the performance of the applications that are now on offer in the industry. Look for a service provider who is using cloud technology to store data as this would lessen your burden of equipping yourself with more advanced hardware.

Ensure that the outsourcer has the necessary technical skills to upgrade and customize the application as and when required. Verify the usability of the reports and whether they conform to industry standards. Features like the Employee Self Service (ESS) module that the employee can access are important in today’s working atmosphere.

5.  Responsibility for mistakes:

You have to determine who will take responsibility for the mistakes in reporting and the subsequent penalties that the company has to bear.

6.  Flexibility in information transfer:

The Service Provider should be in a position to provide flexibility in the way the information gets transferred. You should be able to print the reports, or post them to the net or transmit them in the form of a data file. They should be able to find a solution when there is some break in transmission.

7.  Whether the data is secure:

Data security is a vital factor in outsourcing. Your data is highly sensitive and you must verify that it is securely encrypted and has full control over who can access it.

8.  Service:

Timely service is vital for a process of this nature. Verify that the outsourcer is in a position to provide service always and not only on the days that the payroll is generated.

9.  Pricing of the Service:

Understand fully the cost for the package and see that all the features that you require are included in the entire package. Before you sign on the dotted line verify these facts.  Any misunderstanding here will create a lot of unpleasantness later.

10.  Ability to handle Statutory Rules and Regulations:

This is a highly critical area in any business and any weakness in one’s ability to comply with the government laws will bring greater problems by way of penalties that could be in the form of fines or some cases imprisonment. Make sure that the service provider is efficient in handling statutory compliant issues and is well prepared to handle changes as and when they occur.

Conclusion

Outsourcing your Payroll and HR management operations to an efficient Service Provider is a choice that makes the entire business run easier, quicker, and more efficiently. Since most outsourcers provide a package that integrates Payroll operations and HR Management, you can rest assured of a seamlessly running package that provides all information as and when you require them with greater accuracy. This not only saves you time and money but will also enable your HR team to concentrate more on core activities rather than on the mundane payroll activities. This will enable the entire workforce to perform with greater efficiency and in the long run, will bring greater growth.

GetifyHR is one of the top-rated payroll outsourcing companies in the industry and has over the years built a large number of satisfied clientele. We have the expertise to cater to a wide array of business needs and that could transfer to greater growth to the client. Whether your business is big or small, an association with an experienced and committed payroll outsourcing service provider will bring about a quantitative change in its growth. The tips given here are the result of serious research and we are sure you will be able to make the right choice in your search for a payroll outsourcing company.

A business is the outcome of serious thought and planning to make life successful and significant. Many people set out their plans and step into the shoes of a businessman. The steps that they take thereafter may lead to success or failure and this would fully depend on the action they take to achieve what they have set out to do.

Why set goals?

When you wear a businessman’s shoe, your first and foremost priority is to clearly identify your objective. You should be clear in your mind about where you want to be in the next five years. If you want to succeed in your objective then you have to set clear goals. Without setting goals you will lack focus and be directionless.

Once you set goals, you are in effect taking full control of the direction of your business and life. Goal setting is, therefore, a process that needs careful consideration of what you hope to achieve within a specific time and follows up with a dedicated effort to achieve it.

Your company will be successful only when you have a clear vision of what you want to achieve, how, and when!

How to set goals?

There are different methods by which you can set business goals. Your choice will depend on the nature of your business and whether the method that you adopt fits your culture and approach in handling issues. The following paragraphs set out 7 effective strategies that will bring success to your business.

1.  Objectives and Key Results (OKR)

This is a collaborative goal-setting methodology that drives the entire company right from the top management to the employee level to fully focus on the goal. Everyone in the organization connects to the business goals and this enhances the performance and generates positive results. One advantage of this method is that it creates a greater rapport between the management and the employees, which in turn will push up productivity.

2.  The SMART way

The expansion of the word SMART will give you five actions that you need to implement to achieve your goals.  They are Specific, Measurable, Attainable, Relevant, and Time-Bound. When you use the SMART methodology to achieve goals, you are using a powerful system that drives performance. Normally this method is used to set goals for a year.  For example if you wish to improve your company’s performance by 20% over the last year’s performance, then using this method will help.

i. Setting Specific Goals:

In this method, you first set Specific goals that you hope to achieve. These goals will set the tone for the company and define where you want to be at a specific time.

ii. Setting Measurable goals

Measurable goals are amount and date-specific. You can measure your success by how much you have achieved and within what time frame.

iii. Setting Attainable Goals

The goals that you set should be attainable or achievable. When you set a goal that is way beyond your capacity it will only demotivate you and the people working with you. You will lose your confidence. So be judicious in the goals that you set and see that they are attainable by your team.

iv. Setting Relevant Goals

Set goals that are relevant to what you need in life and your career. This will give you more focus in achieving your goals.

v. Setting Time-Bound Goals

Every goal that you set must be time-bound. When you set a deadline, your focus and dedication to achieve it would be greater.

3. Plan your Action

Without clear planning, all the hard work that you put in will go to waste. Planning is without doubt one of the most important activities on your path to success. If you want to achieve success, you have to plan meticulously.

4.  Avoid Distractions

Distractions are the bane of our society. We have Smartphones, the internet, social media, entertainment media, and so on to distract us from our goals. Under these circumstances, it becomes harder to stay productive and achieve success. Your first step is to identify the distractions and take conscious efforts to eradicate them.  This will go a long way in helping you to achieve your goals.

5.  Time Management

Time management is very vital for achieving one’s goals. Set deadlines for your goals and keep track of them. When you organize time properly or systematically, you will manage your daily routines more effectively and will spend time on things that count. This will enable you to achieve your business goals within a planned time frame.

6.  Prioritize your Tasks

When you prioritize your tasks you will do the most important tasks first and then proceed to complete the other less important tasks. People generally tend to do the easier jobs first and then attempt the harder tasks. This is counter-productive and will stop you from achieving your company goals. The technique is known as  “Eat the Frog” technique and it recommends that you eat the biggest frog first and then proceed to eat the smaller ones; similarly, you take up the most important task first and then complete the lesser tasks.

7.  Monitor your Progress

Constant monitoring of the progress of the activities is a must if you have to achieve your business goals. This will enable you to keep track of your progress and will also help you to make course corrections when you identify some shortfalls. By constantly monitoring the progress, you can evaluate your performance and adjust to the needs to reach your goals.

How setting goals help businesses?

The goals that you set and the focus and dedication you have in achieving them will determine the success of your company. When you follow the steps enumerated here you are sure to achieve the success that you have planned for.

GetifyHR has been a leading player in Payroll and HR Management sector in the country.  Our Payroll Outsourcing Services have been widely accepted in the industry and is the outcome of vast experience and effective goal setting.  Using goal setting techniques, we have been able integrate HR Outsourcing Services within a set time frame.  We have achieved all our further integrations like Statutory Compliance Services, EPF and ESI Registrations, Attendance Management Services, Leave Management Services and Task Management Services by following the goal setting steps enumerated here.

Conclusion

Setting goals, implementing them, unitedly working to achieve them, monitoring and reviewing them to set the path to success, and finally achieving the goals are a continuous process.  This process gets back on track when you set newer goals.  Goal setting in many ways helps the organization and the employees to identify the Key Performance Indicators (KPIs) and update them over a period of time.  These activities facilitates business growth

By deploying these strategies you are not only enhancing the growth and productivity of the company, but you are also encouraging your employees to directly support the priorities of the company. This paves the way for a stronger Management – Employee relationship.

This helps the company to retain talent and reduces employee turnover. Setting goals and succeeding have their benefits. Nothing succeeds like success!