How automation can help HR and payroll management department

 Payroll management is an integral process of any organization. Payroll process involves the payment of salaries to employees. The HR and payroll in any organization work together. While the HR department manages recruitment, annual or semi-annual increment in salary packages, bonuses and incentives, calculation of different types of leaves, deductions, taxes, and other perks and policies related to employees, payroll system manages the financial commitments and subsequent records in relation to employees. HR and payroll managementsoftware, hence, syncs with the processes of HR department to ensure that payroll system is rolled out seamlessly on a monthly basis.  

However, this system is not without any challenges. The Human Resource faces many kinds of challenges related to processes and people, with an aim to identify best suited solution that will overcome the challenges. There is an undocumented ethics related to payroll management- that is the salary must be distributed on time, since incorrect or late salary will create a negative impact on the employees. HR and payroll management system help the organization in maintaining a goodwill amongst employees with respect to financial commitments.

The challenges faced by organizations-

-          Failure to include statutory compliances can lead to fines and penalties- which is something an organization would want to avoid at all costs. Hence, they need to stay updated about the latest amendments in labour laws, state and national regulations as well as statutory compliances. An automated HR payroll management system is the perfect solution for integrating the compliances.

-          Incorporating the latest technology into the existing software system is also a huge challenge. An organization needs apt expertise to incorporate them. Also flexibility is one of the prime requisites of automated payroll management system. Since the pandemic has forced organizations to switch to remote working model, as well as reduced, modified and flexible work shifts, it has become a difficult task for organizations to keep tab on working hours, attendance and leaves. Added to these are the challenges of onboarding and off-boarding processes. HR services & solutions help eliminate the inconsistencies, errors, time and efforts needed for executing these complex processes.

-          Automated payroll system using cloud-based computing are also exposed to the threats of cybercrime and breaches. With the constant rise of cybercrimes around the world, organizations prefer a secure software that is safe for making millions of transactions as part of payroll management. Hence, keeping the automated software encrypted and safe is a real challenge for technology experts. This, in turn makes HR outsourcing ventures of an organization, more feasible, easier and seamless.

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The solution

An advanced HR recruitment software is the answer. By employing a recruitment software, an organization can manage payroll, compliances, recruitment, and contractual staffing- all at once. This leads to efficiency in business and helps an organization to run its ventures smoothly. The biggest advantage is however, the saving of time, efforts and resources of the HR department in achieving the efficiency goals. Resources and cost, thus saved can be directed into other important processes and tasks of the HR department. As the time consuming processes are fast-tracked by this automated software, the HR department can focus more on new ventures, better resources, and reviewing of HR processes. A customized HR recruitment software facilitates outsourcing of HR services from third party service providers. When an organization has automated payroll software to take care of regular processes, it can focus more on automating other HR processes. This way, not only the HR department can encompass updated compliances, but also can manage human resources of the organization in a much better way, as such a step encourages a healthy work environment and a positive work culture. The hiring process is also simplified by this software. After a prospective candidate is selected for a job role, this automated payroll software, combined with the HR recruitment software smoothly rolls out the onboarding process- thereby enriching and enhancing business relations. In the longer run, a business greatly benefits from enriched and enhanced business functions. Under supervision of a team of HR experts, this software helps in managing employee claims and leave administration.

 

In the realm of ever-growing horizon in the world of technology, leading HR outsourcing companies like MYND solutions have addressed the risk of data threat with extremely strong encryptions. Since the payroll system of large and middle organizations deal with millions, the payroll software suites are increasingly targeted for data and information. MYND Solutions offers four worldclass payroll solution- ivap, ACT, myPay and Mynd Recruit. MYND solution offers HR outsourcing services and partners with organizations irrespective of business model and processes, and offers its services as a third party solution provider. For start-ups, MSMEs, large/ middle scale organization as well as multi-national enterprises that manage more than 5 million payslips annually, MYND Solutions offers customized automated solutions for payout management.