Appraisal is that word which drives massive amount of happiness and excitement in employees all over. It is the most expected yet apprehensive period for every employee where they are awarded for their services throughout the year. The rewards are in the form of promotions, salary hikes, bonuses and more. Appraisals are given to keep employees motivated, control attrition rate, save costs on recruiting and training new employees etc. Though it is supposed to add to overall performance of an employee and eventually the organization, it is never too simple to get going for the HR.
Appraisals often brings with it a complete revision in the salary structure of employees’ i.e. change in CTC, allowances, variable pay, taxes and other components. This means a heinous list of to-do tasks is set to encounter the HR during this time. Nevertheless, the modern HR practices like use of best HR and payroll management software can ease dealing with bulk of appraisal related jobs.
Let us cite some processes through which HR management software contributes in effective and accurate appraisal allocation to employees’.
For implementing changes/ additions in pay
- Salary Management Solution
Once the appraisals are completed, they need to become effective within a certain time. Assuming there are 250 employees in a company and each of their salary structure is to be revised. Manual process will only prove to be time consuming and inaccurate. In salary software like PayWheel, pre-defined grades help in reforming the salary structure based on either the CTC or the components in just 2 or 3 steps. Only by selecting one employee at a time, their complete revised structure can be automatically calculated in seconds without any errors.
- Performance Management Solution
Performance incentives are obvious and need to be given away at a scheduled time of the year. If in case the employees have to be rewarded once or even more in a year and their performances have to evaluated frequently, performance management features can be availed through payroll software like PayWheel. Such features enable giving incentives, bonuses etc. to all eligible employees at once by downloading and uploading templates.
For evaluating employees
- Attendance and Leave Tracking Solution
One of the major factors that affect one’s appraisal is attendance. Absence or presence of an employee is directly proportional to the work assigned to him/ her within a stipulated time period. An attendance management program helps in measuring the hours worked and reporting the escapes to concerned managers and HR. Whether or not this becomes a reason for influencing employee performance can reflect during the appraisal season.
- Computing Distributed Responsibilities
In-built features like “Timesheet” in employee management software, allows tracking the amount of time spent on each of the assigned responsibilities. This indirectly helps in identifying employee strengths and weaknesses, and need be conduct training sessions for desired areas. This can add more to one’s own productivity and that of the company on the whole.
There is a lot more on how an integrated payroll management system- PayWheel can assist companies and HR to streamline complex procedures like appraisals. To learn more, visit https://www.paywheel.com/paywheel-features. Want to get hands on using these features? Request a free demo! Make sure to use PayWheel in this appraisal season and bring smiles to all your employees.