Every employee knows that payroll teams have the most monotonous or clerical jobs of spending most of their time manually updating all the payroll related details.
Now imagine, one system performing all these functions and is available anytime, anywhere, scalable and user friendly simultaneously. No matter how big or small a business organization is, it needs a customized payroll system on the cloud.
Companies lose an average of 5% of revenue annually due to payroll process inefficiencies, errors and fraud. Out of this 5%, 99% of the errors are due to poor employee workforce administration.
Despite being an important aspect of a company’s payroll, workforce administration does not get the kind of attention it should.
India’s workforce ethics, especially those revolving around the average length of an employee’s tenure have gone through a tumultuous change. About 30 years ago, it was common practice to be in the employ of a single organization for more than 15 years or even retire from it. Changing multiple employers was practically unheard of.
Companies lose an average of 5% of revenue annually due to payroll process inefficiencies, errors and fraud. Out of this 5%, 99% of the errors are due to poor employee workforce administration.
Despite being an important aspect of a company’s payroll, workforce administration does not get the kind of attention it should.
With the advent of technology at every step in any workplace, putting the H back to HR is getting questioned with every passing day. I could see startups & organizations are more engrossed in achieving their profit margins, thereby losing the focus on humanity. In one of the event attended with Isha foundation on #Humannotresource has made me think more on how much human touch is missing in the daily corporate lives of people around.
Every employee knows that payroll teams have the most monotonous or clerical jobs of spending most of their time manually updating all the payroll related details.
Now imagine, one system performing all these functions and is available anytime, anywhere, scalable and user friendly simultaneously. No matter how big or small a business organization is, it needs a customized payroll system on the cloud.
What makes good candidates become great employees? Is it just the work they get to do? Yes, to some extent. But there’s something that they experience even before they get to know their teams and start working on assignments. Every experience counts – right from their first engagement with the company representatives, till the chain of events that follow after they receive the offer.
It is time HR departments moved beyond just creating a culture of keeping employees happy and meeting their expectations. The customer needs to be treated as a major stakeholder in the workforce strategy, the workforce policy and the workforce technology, besides the work culture. Due weightage should be given to employees, investors and social frameworks while keeping the customer at the center.