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. Thus, it is mandatory that the people who handle these core functions are equipped with the right set of tools to perform their optimum best. A payroll software will help your HR department save time and efforts, which in turns improves productivity.
- Empowers employees
Empowering employees goes to a certain extent when it comes to boasting of a highly engaged and productive workforce. A payroll software would allow employees to apply for day-offs, download pay slips, update their personal details and lot more on the go from anywhere and anytime. With the help of a payroll software, your employees are not dependent on the HR department anymore, for enquiring about their pay details and other queries, as they can easily access all of this on the go.
Employing a cloud based payroll software would help you in employee retention without bombing your budget. It is scalable and grows with your business. PayWheel is intuitive and cost effective business payroll software for HR and accounts personnel. It is a fully integrated payroll automation software that limits all complex and tiring processes to just a few minutes.