What Challenges Modern World Is Facing In Payroll Processing?

Teamwise-Payroll-Processing-System

Payroll departments manage the most important aspect that comes in between a company and its employees: error-free payments to the employees. In addition to this, payroll serves as a valuable strategic component that helps in understanding the company’s labor costs and overtime trends. But, like any other department, a thorough knowledge and understanding of the key challenges that might occur, is extremely crucial to ensure successful implementation of the core processes. Following are the common challenges that companies are facing while processing payroll in the current era.

  1. Avoiding The Use Of A Payroll Software : It’s an undeniable irony that, although payroll is one of the most important components of human resource but most of the companies don’t value its importance and keep doing it in the old traditional ways. Most of the organizations still rely on paper processes that make professionals feel burdensome. Thus, using a payroll technology will definitely make the process easier, faster and error-free, thereby freeing-up valuable resources for more strategic tasks.
  2. Processing Taxes Accurately : Along with processing payroll seriously, it’s important that it is done accurately without any glitches. There has been a continuous pressure on companies of every size to adhere to corporate governance or else be ready to pay heavy penalties for non-compliance. Thus, it is vital that payroll system must comply with regional legal frameworks as well as other industry-specific requirements. Whether you choose to operate payroll in-house by purchasing your own software or outsource it to a third party, payroll tax laws must be mandatorily followed.
  3. Software Is Confining Opportunities: Usually, business owners don’t pay much attention while selecting a payroll solution for their company, which eventually leaves them with an inefficient tool. These kind of tools lack the integration capabilities with other systems already in use by the organization and this leads to data discrepancy and errors. Thus, it is necessary that adequate controls are guaranteed while processing payrolls and data privacy is kept on high priority.
  4. Providing Enterprise-Wide Visibility: A comprehensive view of enterprise-wide payroll data is extremely necessary for any company’s accounts managers to perform payroll effectively. This allows HR pros to analyze the data and create reports with minimal issues. But it is estimated that only 39 percent of the companies have this kind of visibility in their organizations. Thus, payroll leaders need to work hard in getting and maintaining this visibility to acquire more sophisticated analytical capabilities.

Implementation of successful global payroll technology is although a challenging task, but if it is done carefully and with the right tools in hand, then an organization can benefit from the enhanced efficiency and better decision making capabilities. TeamWise Payroll provides comprehensive and well-integrated payroll processing technology, which makes it a vital asset to a successful global organization. It helps you streamline all the time-consuming payroll tasks with utmost ease and without any chances of errors. So, overcome all the payroll challenges with the best payroll processing solution and leave your worries behind, for a never like before satisfied workforce, stress-free HRs and definitely a better company future.

Employee Information, Just A Click Away!

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How often do you think- Is technology a Blessing or a Blight??

Everything just a click away..and blah blah!

We have been enjoying all the ease and comfort offered to us by the technology from past few decades now and still curse it when it takes the same ease from us.

Yes, you guessed it right! I am talking about how accessible it makes us when we are on a vacation! Here, my discussion is not on cursing the man-made gift we all have, but how it saves us from becoming the culprit of a lost business deal or company facing terrible losses or becoming unable to overcome a disaster as the concerned person is unavailable!

Same is with an TeamWise-Feature that you can monitor anywhere, anytime! Suppose one of your subordinates need your approval for his urgent leave and you are on a vacation. What will he do?

The answer would be- Go to HR department, give them all the explanations and then if they understand your concern, may give an approval but, if he doesn’t have that time, then?

Here, our point becomes valid that says, technology is a Blessing!

Keep an Eye on Your Workforce Even When You are Away

With TeamWise HRMS, you can access the application even when you are on a vacation and catch all the action going on in your absence. Approve/reject leave applications; check employee updates, etc. just on a single click!

The bonus is you can enjoy the beach too!

How Can Job Hopping Affect One’s Career?

“It looks bad on your resume”

“It shows that you lack the sense of commitment.”

Have you ever heard these comments when someone reads your resume or an HR pro saying this during an interview?

These days, job hopping is a practical way of life. Gone is the idea of spending entire professional life at one company and ultimately retire with a gold-plated watch and a pension plan. If you talk to the Baby Boomer generation or older people, it’s not a surprising fact that they have worked for maximum 2-3 organizations in their lives. On the other hand, present generation employees, if we talk about those between 25-40 years age bracket, might have already switched 3-4 jobs.

job-hopping

In the present era, employees are more focused on finding their dream job which makes them fail to realize that such frequent job switching might jeopardize their entire career. Employees today are so much impatient that they don’t give their present jobs a chance to gain necessary skills and required maturity to succeed in their career. They don’t even realize that the next time they’ll face an interview, what questions might be red-flagging into their interviewer’s mind?

  • You’re potentially a bad investment.
  • You’re restless and will not stay for long.
  • You’re unfulfilled no matter how much ever is given to you.
  • You’re not focused on the long-term goals.

Frequent job hopping might hurt your career growth drastically. According to the Office for National Statistics (ONS), employees who stayed in the same job role in 2014, earn way more than those who left the job for a better opportunity.

Frequent job hopping-TeamWise

But, what makes an employee to switch jobs?

Professionals have a long list of reasons for departing from a company; including corporate downsizing, insufficient career growth, unfair employee treatment, desire to get advanced degree, more money or completely switch to a different field.

Here, organizations too need to take important measures so that employees don’t feel deprived of growth. Companies can retain their employees for a sufficiently longer time by supporting their value systems, providing them meaningful work, becoming more social and understanding the generation differences. All this can be done by properly managing each employee’s performance through a Performance and Talent Management System.

Employees want to have an assurance of long-time career which only the organization can provide by giving a diverse career path to its employees.

The Astounding Cost Of Making Wrong Hiring And How To Avoid One?

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“If you don’t have time to do it right in one attempt, how will you have time to do it again?”

Although your organization might be a growing one and you are in a great rush of filling positions; the process of hiring an employee shouldn’t be rushed in any way. Split second decisions might lead you to hiring a wrong employee for the job that can eventually end up costing you a significant amount of money. Moreover, your good employees may have to work harder in order to compensate for that single bad hire; this can lead to the risk of losing a good employee too.

The actual cost of hiring a wrong employee varies widely, ranging from one third of the employee’s salary to more than a million dollars, depending upon the position. There are some costs that cannot be measured, like the cost of negative interaction with clients or a sudden drop in team’s morale and thereby productivity. Bearing such a heavy loss just because of a wrong hiring cannot be afforded.

TeamWise-The Astounding Cost Of A Bad Hire And How To Avoid One_ReviewedWhy Do Companies End Up Making Wrong Hiring?

The major reason for ending up hiring a wrong candidate is the urgency to fill open positions. In this course, the employers fail to perform adequate research on the new recruit, his / her skills and the past experience. Sometimes, the cause could be failure in doing proper reference checks. Basically, sometimes recruiters miss out important stages of the process and therefore end up paying heavily for that mistake.

Bad hire incur some direct and indirect costs.

Direct costs include exit interviews, overtime pay for employees who perform the duties of the employee who is leaving, hiring a temporary employee from a staffing agency, cost included in advertising and searching for the new employee and investing time and money in on-the-job training.

Indirect costs include reduced productivity as the departing employee spends most of his/her last days performing poorly or completing exit interviews, work quality reduces as the new employee takes time in learning the job responsibilities and you might lose significant clients as a result of customer service gaps.

What Can Help To Avoid The Costs?

Performing effective interviews can significantly avoid the chances of a bad hire. It is also important to know that an effective resume doesn’t mean that the candidate is efficient. Professional resume writers can make anyone look good; so it is better to conduct the interview process cautiously and most importantly, verifying the past employer references.

  • Conduct 10-15 minute phone interviews while screening the candidates
  • Prepare a checklist of specific questions crucial to the position
  • Pay attention to the answers and the candidate’s body language while answering
  • Rephrase the questions if the answers you receive are insufficient or vague
  • Don’t forget to take notes during the interview process

For the assurance of performing the hiring process effectively, a Recruitment Management System can come handy. It caters HR with a complete end-to-end hiring cycle, right from requesting open positions to finalizing the appointed candidate. With a system like this, maintaining candidate’s data and other crucial information like the candidate’s status, etc. will definitely be extremely simple. Every minute detail will be in front of you that will be helpful in making right decisions for your business as well as workplace culture.

 

How to Tamper-Down the Toxic Employees’ Negativity?

An old adage states People are hired for their talents and fired for their behavior“.

To be sure that a noxious worker does not make your workplace culture sick, preventive measures are a must to take. Toxic employees like a cloud of noxious gas, can poison your work environment thereby affecting your staff. So, what is the best way to avoid hiring one like this?

Putting a little extra care and effort in the hiring process can prove to be a great time saver and help in reducing the hassles caused by the wrong employee down the line. But what an employer should do if a potentially hazardous resource has developed in the organization or was flourishing from a long time?

Know-How of Identifying and Dealing With Obnoxious Employees

What If The Employee Is Already There?

Sometimes, even after putting all the measures in avoiding the bad hire, companies end up with one or more employees of negative temperament. Now what?

Most experts agree that the first step should be a swift confrontation with the problem or the problematic employee, before trouble arises. Have a discussion with the employee to understand the problem and try to tackle it as soon as possible for minimum damage done to the organization.

By exhibiting some behavior patterns, people often fail at work and become hostile towards the organization.

Following are some characteristics of TOB (Toxic Organizational Behavior):

  • Aggressiveness: Diverting resources from productive work environment into fight or any other defensive operations.
  • Lack of Credibility: Credibility lacks and mistrust arises when people don’t do as per their commitment.
  • Egotism: Developing a culture of give-and take compromises to satisfy one’s own self-centered nature.
  • Disorganization: With the lack of personal organization, organizational requirement like focus, discipline and structure are hard to meet.
  • Passivity: An employees’ behavior that is completely opposite to taking initiatives for maximum performance.
  • Resistant to change: Rigidity and change resistance can guarantee failure in this ever-changing world which requires continuous adaptation.

Employee behavior is not generally included in the individual’s performance measurement, thus organizations often end up with toxic employees. Moreover, a hostile employee might indulge in indirect costs for an organization and can become a potential financial burden. Thus, the toxicity should better be avoided in the first place or diluted to minimize the damages.

Culling Out The Toxic Employee In Hiring Stage

Avoiding a bad hire seems to be easy to say rather than practically done. Checking references might help in this context and should be performed, even if it is time consuming. It helps in predicting the candidate’s behavior in different situations given. Along with this, to sense how an employee will function at work, behavior based questions can be asked.

These simple but effective interview tips might help you to uncover major problems early in the process.

  1. Ask potentially toxic questions like asking for five things that the candidate liked least about the current or last company he or she worked with.
  2. Have a team rather than an individual to sniff out the toxic employee while interview.
  3. Enquire how good the candidate is at handling difficult situations.
  4. Make sure that the references given by the candidate are actually reached.
  5. Look for “we” rather than “I”. Identify whether the candidate includes his / her team in the accomplishments achieved or all the words that come out are self-centered.
  6. Watch for any previous complaints and decide accordingly; remember history repeats itself.

Asking negative questions might force the candidate to give more authentic replies.

Determining whom to hire and whom to avoid isn’t that easy as it might look. So, implying these tips might help in reducing the threat of having a toxic Employee On-Board and minimize your chances of hiring negative workforce before things go out of hand.

What Cartoons Help Us Believe is, ‘Believe in Yourself’!

TeamWise Article_Cartoon Characters(By : Prateek Sharma)

We all have spent our childhood listening to fairy tales and watching cartoons. Remember how crazier the days were when we tried to personify our favorite superheroes.
These cartoons, carried a very strong message for us too, that we experience every now and then in our daily lives.
Here are a few lessons that our favorite cartoons taught us…

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What Lord Shiva Teaches HR Professionals This Maha Shivratri: Stay Unbiased!!

In my previous post on Lord Shiva, Lord Shiva Personifying the “Ideal” Entrepreneur!!”, I portrayed the different forms of God of Gods, Mahavdev such as Rudra, Shipra Prasadi and others into different entrepreneurial roles. But, apart from just these traits, the deity has innumerable skills and capabilities that make him the complete institution in himself.

Lord Shiva, one of the three superpowers has a lesson for every individual through his great legends. Mythical studies have clearly proved that he was an impeccable character and always chose to stay away from the “materialistic” world.

Lord-Shiva_TeamWise

While, he is the “Bholenath” and has so much to learn from, yet one of his skills of being detached from materialism gives a great learning to the Human Resource professionals across all industries.

Everybody knows that Lord Shiva is the only God who is equally worshipped by Devas and Rakshas. Now, with a corporate perspective, every organization comprises of different performance categories of employees and these include top performers, average performers, below average performers and the poor performers.

Here, just like Lord Shiva didn’t bothered about the nature of the worshipper and admired his/her true dedication towards the God, similarly, HR person must also keep self unbiased and treat every employee equally. There can be many reasons or limitation at individual level that contributes in his/her performance, but HR should be the same for every employee. At the appraisal time, you must focus on every employee’s intention and efforts instead of the outcomes. Yes, outcomes are important, but other aspects do matter equally!

Thus, you must not make underperformers feel low or un-catered as compared to the top-performers. This will help you establish a balanced approach towards managing your human capital as well as keeping all employees satisfied and happy!

Take care of Your Employees and Keep Learning From Lord Shiva at different phases of your organizational convoy.

Happy Maha Shivratri!!! 

Prateek-Sharma-TeamWise