The world is now entering a new normal of business operations wherein there is emphasis on digitization, delegation and outsourcing of processes. The primary aim of the digital transformation is to ensure that all functions of the organization are carried out efficiently with a leaner onsite presence of employees, and without cutting any corners on quality. Third party payroll services are proving to be of great help for companies all over the world in the current context. Companies across industries and sizes are using payroll services to have a quick, accurate and highly relaxing payroll experience.
In case you are wondering whether your company needs to outsource its payroll management, you must know that payroll management has a great impact on employee happiness and motivation. There is nothing that irritates people more than being subjected to delayed salaries. Most people today plan their monthly schedules and finances on the basis of their salary dates. This includes payments of utility bills, credit card bills, loan or any other EMIs and rent payment etc. If the salary is not credited on time, then it becomes really frustrating for the employees. Not only that, the cumbersome nature of payroll processes also makes them error-prone and if someone is paid less than the right salary or subjected to incorrect deductions then also it causes distress and unhappiness.
If your company is facing regular complaints regarding such payroll errors or delays then it is a strong indicator that you need to outsource to a payroll services company. By doing so, you will not only be able to keep the organization’s reputation intact, but also make your employees happy by giving them an error-free and world class payroll experience.
Another major challenge faced by businesses is that they are often short on human resources and when there is a large number of employees or a scattered workforce the resource and time is crunch becomes greater. By hiring a professional payroll services provider, you can free your personnel from all these worries. Time is of great essence and instead of making your core teams such as the finance and HR spend long hours on mundane payroll calculations, if you can outsource the process then it would be money well invested and not an avoidable expenditure.
Employee experience (EX) is a critical parameter of an organization’s reputation and the value it gives to an employee. This is where third-party payroll services companies use advanced HR Payroll software that integrates cutting edge technologies such as cloud, IoT, AI and analytics etc to deliver seamless and online payroll experience to the employees.
There are a number of benefits that such a HR payroll software based service will offer you. These include:
- Superior employee experience courtesy of the people-centric digital processes
- Seamless time and attendance management through a facial recognition solution
- Generation of payslips
- Leave management online
- Employee self service portal to edit or view personal details
- Shift reviews and approval – automatic shift approval
- Desktop and mobile versions
Such an advanced technology driven payroll management would allow you to seamlessly handle all core HR and payroll functions and keep your employees happy by providing them an error-free and fast service experience!