Good News for all the Asian employees out there!!
As per the Salary Trends survey, in 2015, Asia will have a higher salary increase of 7.2% as compared to other regions. Company predictions all across the globe state that there will be an average rise of 5.8% in 2015. While 2.3% increase will be eroded due to inflation, majority of employees will still be better off in 2015.
Though a few countries like China or Japan see a slower growth, wages will continue to increase. Although, the companies are gearing up for paying employees higher wages, a sudden concern that goes down neck is how will they incorporate entire data in their payroll systems and will the system respond well?
Back office updates and data uploads is one of the main concern while implementing a payroll management system. Though automation and process improvement is one of the key benefits of using HRMS & Payroll systems, it can even enhance employee efficiencies.
Nowadays, finance departments need not to request the HR departments to provide them the employee data that is thoroughly confidential. The system itself maintains a data repository from where the finance department can fetch the required details and run payrolls for the employees.
Now, the employers can easily generate employee payrolls with thorough proficiency, real-time data access and rule-based processing. TeamWise-Payroll Software is a robustly developed product that can easily be configured and complied with Govt. payroll & tax laws and provisions and thus, compute employee wages accordingly.
Thus, with employees enjoying the increased wages, employers can boast about the seamless payroll processing that earlier used to be a pain in the neck task!