Attendance Management System: Need of the Hour for any Business!!

Attendance Management System: Need of the Hour for any Business!!

In this era, businesses grow exponentially; we see startups around us transforming into small, medium and powerful enterprises, and to meet this surge in operations, more and more people are hired. We all are aware of the attendance register that has been there since the good old days, wherein employees mark their attendance on a ledger or a book. With new age companies coming in, scaled-up magnitude of business and the sheer number of employees to be taken care of, new concepts like work from home or working from distant locations, that obsolete register is no longer capable to manage attendance of employees. With the advancements in technology, we now have innovative payroll solutions which take care of all payroll processes, including attendance management system. These solutions have made life easier for the HR department by recording and maintaining employee attendance and leave records. Let’s have a quick look on some of the benefits of the attendance management system: No More Manual Errors It is a known fact that during month-end, the HR representative who takes care of recording and collating the month’s attendance for payroll is the busiest and becomes the most important person in the whole organization. At this point in time, a small error such as flipping or missing a digit altogether may go unnoticed and it may go on to miscalculate an employee’s total work days and further to their salary.  With growing importance towards statutory compliance, it is essential for companies to take note of minute details, and dependence on manual entries would only add on to the inconsistencies. An efficient attendance management software...
Empower your HR!

Empower your HR!

Being an organization what’s your most vital asset? Of course your employees or you can say human resources. Whether it’s training, hiring, recruiting, onboarding, providing benefits, the most challenging thing is to plan human resources. Today, apps and portals help in managing almost every business aspect human, resource is one among them. Additionally, for any growing business, one of the top priorities is to transform its key business operations, human resources department is no exclusion here. Are you looking towards scaling your HR processes or department? If yes, then consider these exclusive practices: Practical Approach Needed It would not be an exaggeration if we say that there is a downpour of HR payroll solutions that too with some powerful features. But what are you looking for matters first.  Thus choose a solution that is scalable and suitable for your growing business needs. Self-service Portal is Vital Whenever you think of choosing any HR technology or solution or payroll software, ensure that it compromises of employee self-service portal. Also, both the employees and the managers must get instant access to the portal and data that too with optimum transparency. in order to avoid bottlenecks, self-service portal is an eccentric tool in human resources management. For instance, employees no more need to wait for HR department for leaves approvals, instead they can just simply log in to the portal and apply for the same on the go. Training is a Must No matter how cool or powerful your solution is, it all boils down to your people who will be using the system. Thus educating your human resources crew effectively on how...
Employee Retention with Minimal Expenditure

Employee Retention with Minimal Expenditure

When you say that you have recruited the right set of people for your business, truth is, only half the battle is won. Retaining these top talents is equally important as well, if you overlook employee retention, then you might be driving your business to failure. The best way to have optimum employee retention is having a competitive and potent HR department that practices engaging with sound human resource strategies. An employee might have many expectations from his/her company, but above all payroll and benefits top the chart. Amidst the startups, one of the most common reasons for increasing attrition rates is delays in payroll and mediocre HR practices. Employing a payroll software can reduce such problems and help you retain your employees in a cost-effective manner, let’s see how. Create a friendly work environment  Don’t make them feel like overheads but allow them to feel secure in their job.  Greet them by name, let them know what their contributions are towards the company and that they are valued. Try to get their feedback rules and polices thereby opening up a two way communication. Encourage creativity and out of the box thinking if possible try creating a more open work atmosphere. Enable easy access to HR data and MIS reports Since last few years, work norms seem to be changing at a drastic pace. Today, millennials prefer workplace flexibility as well as quick access to their data round the clock. Our product, PayWheel allows HR personnel to access the required data and reports from anywhere and anytime. Efficient and Productive HR department In any organization HR department looks after a number of functions....
Ways to Deal with The HR Challenges

Ways to Deal with The HR Challenges

Earlier human resource management was considered just another conventional administrative jobs. But today it has evolved as a strategic function to plan human resource needs, meet organizational goals, improve working environment and to strike a balance between employers and employees in order to increase productivity. It is not an exaggeration if said that it has become one of the most important functions in an organization. Today, in this tight job market, coordinating a diverse workforce has become a real challenge for HR department. Human resource managers are finding it real hard to focus on both employer and employees while keeping recent market trends in mind. Let’s have a look at some of the easiest ways with which HR can tackle with these challenges: Retaining Best Talent- First Priority As an HR you should not just focus on recruiting good talent, but you should also learn to retain them on priority. Employees with superior technical knowledge have the ability to keep their company ahead in any race, thus they are much in demand in the job market. They are considered as invaluable assets of a company. In order to retain such employees, you need to move with some novel approaches like employee development and engagement, recognition, flexible work timings, health and safety, work-life balance etc. ‘Unity in Diversity’ should be your Business Mantra At present, structure of workforce is getting diverse. Do you think diversity is just created by gender, age, religion and educational background? No, it is not just these but also comprises of a worker’s nature, personality and background. There are chances that issues like discrimination or harassment...
Indian Payroll Scenario

Indian Payroll Scenario

The increasing startup communities in India are expanding to the horizon and with growth comes the additional responsibilities towards their employees. For the company to grow in multitude it is imperative that its employees get paid on time and efficiently. Calculating payroll manually is not an easy task, it’s time consuming and tedious for any organization and that is where payroll solutions play a major role. And in a vast country like India with its varied geography and State level rules it is essential to have a payroll system which is robust and scalable. When you say ‘payroll’, it is not just paying salaries to employees but an entire process that takes place straight from the employee punching in to the generation of his/her pay slip. This will be a tedious process to work on a month on month basis and would require dedicated resources, but a fool proof payroll system can handle all your salary related processes with ease. To choose a solution that caters to the needs of the organization, we have to take in account the following points: Salary Structure An organization’s salary structure is the method of managing its salary philosophy. A company needs to have defined role and structure for each employee. A salary structure helps in structuring the salary of employees. Occasions for incentives are also allocated with in the salary structure. For instance, people with strategic roles are likely to have more opportunities for higher incentives. Departments Department represents sections/functional teams of a company such as sales, marketing, administration or human resources. You need to decide on what are the specific parameters...
Statutory Compliances of Indian Payroll System

Statutory Compliances of Indian Payroll System

In India, there are plethora of statutory requirements that small and large businesses are ought to adhere to for keeping away from any legal complexities. If any company fails to abide by the required statutory compliances, they might incur heavy penalties. Worst case, it can cost their entire business. Now let’s have a look at the statutory compliances of Indian Payroll System: Minimum Wages Act In this act there is requirement of fixing of minimum wages for the various skilled and unskilled laborers. It guarantees minimum survival for the workers to take care of their families, children education and medical needs as well. Maternity Benefits Act According to this act women employees are entitled to maternity leaves of 26 weeks (amended in 2016 from 12 to 26) at a rate of her daily average wage. Payment of wages Act The Payment of wages Act, 1936 assures payment of wages on time and without deductions except some specially authorized by the act. According to this act wages should be paid before the expiry of 7th day of the next wage period where less than 1000 workers work. In case of organizations where more than 1000 workers work they should be paid before the expiry of 10th day of the next wage period. Gratuity Act Once an employee completes five years of service in an organization, the employer gives an amount to the employee which is called ‘Gratuity’. It is a one of the many retirement benefits provided by an employer to an employee upon leaving the job. Employee Provident Fund Act Every employee and employer is ought to contribute an...