Managing payroll can often be a tedious task: a complex and time-consuming task for payroll teams. While payroll teams are meticulous, the task itself is so tedious that human errors creep in. That’s why automated payroll management is necessary. Especially in SME businesses where even business owners get involved in payroll, it is a must.
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After all the workplace philosophies get discussed, one thing is agreed upon by all. Compensation matters the most!
Compensation and benefits are crucial for employee satisfaction and retention. However, HR managers often face challenges when it comes to managing these plans effectively, especially with limited budgets.
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Payroll generation is an integral part of any business, but it can often be a time-consuming and complex process. We see payroll managers struggling every month, coordinating between accounts departments, HR managers, line managers. We see them losing their mind over calculations of salaries, uploading Excel sheets and many other mundane tasks.
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We are an HR Tech company making cloud-based HR software for SME businesses. In a recent internal survey we found that business owners prefer automating payroll processes over other HR activities?
Why is there a preference for payroll automation software? We asked. And the answer was plain and clear–
Because payroll involves business owners and startup founders, too. And it is so tedious and complex that they lose much of their time in checking and rechecking, and talking to their HR friends about new compliances.
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Here is an interesting fact–
Many SME business owners postpone the implementation of payroll and HR software till they come to a certain size. They think that manual payroll processing, or a limited desktop software, is sufficient for their organisation.
But startups go for the automated HR solution early. Even when they are just a 20-person team.
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For startups looking to streamline their payroll processes and manage employee compensation efficiently, a payroll software is the perfect solution.
With payroll software, startups can eliminate the need for manual calculations and paperwork, reducing the risk of errors.
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Business owners have a general sense of most HR terms, but still some questions keep coming again and again.
In particular, the relationship between payroll and HR often creates confusion.
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We are often asked, should SME businesses go for integrated HR and payroll software?
The quick answer is: It depends on what kind of business you run and what is your business philosophy.
As a small or medium-sized enterprise (SME) business owner, you juggle multiple responsibilities at once. From managing your staff to handling finances, there’s never a shortage of things to do. One critical aspect of running any business is handling payroll accurately and efficiently. And that’s where choosing the right online payroll software solution comes in.
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Small and medium-sized enterprises (SMEs) face unique challenges managing their human resource (HR) functions. Often, these businesses have small HR teams. So business owners also get involved in HR tasks.
Let’s be straightforward here. This poses multiple challenges.
First and foremost, the business owner gets distracted from the core business, & the business suffers.
Secondly, HR is a specialised function. Admin and junior HR persons get overwhelmed with the complexities involved. This leads to inefficiencies in managing attendance, payroll, leave management, recruitment, & onboarding. And errors in adhering to compliance.
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