HR and Payroll have always been function-driven from the back offices to the front row for any company. The post COVID world has ushered in a new normal of remote payroll management that has given due importance to this critical business function. The ability of HR and payroll teams to provide accurate and timely payroll and compliance from a remote location is not only an appealing concept, but it has also become necessary in the current times.
Here are 5 quick tips for Remote Payroll Management
Payroll Management works like a well-oiled machine for any company, which is highly dependent on multiple teams working together and multiple systems sending in required data. With numerous intricacies in payroll delivery, managing payroll remotely seems like a herculean feat to achieve.
A company needs to focus on ways to break the walls and have excellent communication internally and externally with multiple teams. Collaboration & productivity tools like Collaboration allow teams to communicate seamlessly. Teams can perform daily huddles, task assignments, and progress mapping activities in a step towards collaborating and faster execution.
Integrated Payroll Management System
One of the crucial aspects of Remote Payroll Management would be synchronizing employee data from multiple systems such as Leave and attendance to flow into the payroll management system. Both HR and payroll departments need clarity on what basis they will be paying the employee at the end of the month. While promoting and adjusting work from home policies, companies are expecting all the departments to work seamlessly after all the structural changes that may have been enforced recently.
The changing pay components with more focus on variable pay-outs require a payroll system that can embrace such structural changes with ease. There are no doubts that companies are inclined towards a cloud-based payroll management system rather than an on-premises payroll management system. While working from home, employees are expected to punch-in via geotagging based attendance systems, web check-ins and apply leaves with proper detailing with prior notice. This calls for an end-end payroll management suite that is perfectly integrated with HRM systems.
Super-Efficient Compliance Management
Payroll and Compliance management for any company is about setting internal policies that keep the company in line with the rules and guidelines set by the government, concerned authorities, or industry standards. The recent advancements in government policies such as New Tax Regime and other changes put in place to tackle Covid, companies need an efficient and compliant payroll management software. They need to manage and monitor activities to reduce any risks associated with non-compliance.
Having a payroll system that fundamentally adheres and incorporates compliance updates to quickly adapt to changing regulations can make a huge difference. Companies need to leverage cloud payroll technology to manage all payroll and compliance-related updates remotely.
Consolidated Payroll, many locations
Working remotely lately has been a talk of the town across almost every vertical of a company. In response to recent uncertainties, every company is establishing norms and policies for employees separated from each other for the first time. The payroll and Compliance management team is a perfect example of such an arrangement.
Companies need to focus on communication is more than ever with requirements such as seamless internal communication, payroll understanding among employees, prompt query resolution engine, and adhering to government regulations. The goal remains the same as always, providing accurate, timely, and transparent payroll for all employees in a company.
Managing payroll remotely for employees requires planning and an effective system to support the payroll management process. With almost everyone working from home, companies must make sure that all payroll and compliance-related queries are resolved at a priority so that employees do not feel alienated on payroll front.
Both HR and Payroll teams need to support employees with a range of payroll employee self- services functionalities enabling employees to access and submit investments, reimbursements, claims, and other payroll queries from wherever they are working. This helps the employee to get expenses reimbursed as quickly as possible, which is very important right now.
This requires establishing a cloud payroll software that can provide more control directly to employees and also automate certain payroll activities such as salary processing, claim management, etc. Eventually increasing the deliverability speed and most importantly transparency in remote payroll management.
Here’s What’s Next –
Managing payroll remotely can be a challenging task, but considering the ever-changing industry dynamics, shifting to a remote payroll management system is the way forward. Companies need to look to embrace payroll management systems that cover every aspect of payroll management not only for HR and Payroll admins but also to simplify payroll processes for the employees as well. A well-integrated payroll management system is the need of the hour and it also lays a strong foundation for future payroll requirements for any company.
Payroll Software provides an intelligent payroll management system for building smarter workplaces. Get in touch with our payroll and compliance executive to know more about Payroll Software and how we can manage your payroll better.
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