Welcome to PayWheel's blogThis blog is dedicated to sharing news, updates and in-depth insights.
There are few companies that outsource their payroll process completely, but many smaller businesses are not that financially sound to do so. To avoid unnecessary payroll-induced misunderstandings and ease the work for employees, let’s have a look on ways to make an outdated, inefficient payroll processes from efficient:
Payroll fraud is the unfortunate result of entrusting financial responsibilities to undeserving people. This can be a serious threat for your businesses if you don’t safeguarded it properly, and it can lead to complications with your accounts, putting your business out of pocket as well as your employees.
While you are running a business you have two key choices for paying your employees: One is either you do it yourself, or another choice is you hire a payroll service to do it for you. If you don’t have an accounting background and aren’t well versed in payroll tax laws, then a payroll service is likely your best option.
Gone are the days when carbon paper was the newest technology for sharing information with multiple parties and proved to be a time saver for office workers. Since few years there has been an increasing trend towards greater “integration” between HR and payroll. Also, with the need to increase efficiency and improve information sharing, this trend also reflects the desire to create much greater synergy between the two functions.
It is palpable that being a small business owner, you probably might be an expert in your product or service, but not much knowledgeable about payroll which includes compensation and taxes. Also it is not mandatory that all employed people understand the complicated and confusing financial terminology related to their salaries.
Most of the companies today offer benefits like loans and advances to employees. Such provisions help the employees meet their financial requirements with ease, in case of emergencies and difficulties. The loans offered by employer are much more favorable than the regular bank loans in terms of repayment tenure, interest rate etc.
The world is digitizing. All businesses and departments have adopted the digital means to simplify and automate their routine workflows. As a result, use of paper has been minimized and an eco-friendly approach is being embraced, along with the convenience of speed and accuracy.
Have you as an HR professional been concerned about retaining your employees at some point or the other? You would certainly answer it affirmative! Employee retention may be tiring and challenging. However, a lot of your productivity revolves around handling this particular responsibility.
The world is going digital and there isn’t a surprise why! The communication has advanced as a result of digitization and has become efficient in all means. Organizations have been adopting digital communication to interact with its employees, vendors, customers and more.
Email is the primary mode of communication in workplaces today. No matter how many internal communication tools are introduced, writing formal emails to colleagues and customers becomes a necessary evil. Often employees are reminded by their employers or others about the email etiquettes they need to follow.
Every organization is entitled to offer its employees a defined number of paid and unpaid time-offs. It being a critical factor in both the perspectives of business and employees needs a carefully formulated policy to be followed. This blog discusses a few major steps that can help HR professionals to effectively create and implement a time-off policy. Read on to know what they are-
Lately the demand of Employee Self Service (ESS) is soaring and it’s no surprise why. The amount of convenience and time saving it brings with it is definitely worth the appreciation. Most of the companies, big or small, are investing into this option either through developing their own software, implementing in-house systems or by outsourcing it from the top payroll providers.