The secret mantra for any growing organization is to utilize the available resources to its full potential. And when we say full-potential it means loading them off of the unnecessary manual work which can be automated. Hard work always pays but smart work is the game changer now. HRMS (Human Resource Management Systems) is one such tool that has grown as a corporate culture in recent years. It’s already high time that you automate your Payroll system and let the HR department focus on managing your workforce and work towards keeping the employees happy and offering them opportunities to grow. Still skeptical about automated Payroll Systems? Here’s what you need to know:
Human Resources have played a crucial role in helping a business grow and at the end of the day, all they want is a salary that speaks for their work itself and timely payment. An employee works with all dedication just to be paid so that they can support their families and live a comfortable life which again is important for the company as it will boost employee retention.
Now the thing to understand here is humans are prone to error and delay which can affect a company’s payroll policies when done manually. The HR department should be more engaged in Talent Management than manually maintaining Excel sheets of employee attendance and leave records just to pay them timely. This is not an HR’s job and especially not in this tech-driven world where automation plays a crucial role. Let’s go through some of the advantages of a Payroll System and how it can benefit your company in keeping things in order:
The most salient feature of incorporating an HRMS which comes with a Payroll System is security. Manual work and processing can be a tough task when we bring security into the scene as there are chances of misplacing files and papers. This can result in some serious data loss which affects both the employee and the employer. However, Payroll Systems are designed to offer security with data locked safely behind multiple layers of security. Moreover, it also makes accessing any such documents easier for employees and employers, thereby, saving time.
When it comes to cost-saving, the company should know where to invest and where to divest. It sounds quite silly when a company considers hiring an employee just to manually prepare and manage tons of Excel sheets even after knowing that there’s already a much better and cost-effective way i.e., Payroll System. A company should try to keep pace with the changing techs and adapt to them.
- Automated Leave and Attendance management:
Manually informing your manager “Sir I will not be able to attend office tomorrow as I have some personal work to take care of!!” If this is still the prevalent leave policy in your company, you need to look outside and see how far the world has gone. It is high time that your company gets an automated leave and attendance system.
- Calculations made easy (Salary, Bonuses, Company Expenses, Deductions, etc):
Yes, Excel was a good way to calculate employee salary, deductions, and other expenses as they offer inbuilt formulas. But now even that sounds too outdated and time-consuming. With a Payroll System, you don’t even need to know which formula to use where. All you need is fill in the employee salary details once and you’ll have all you want from automating the delivery of salary on a fixed date to managing your deductions like loans and advances.
Concluding my article all I would say that HRMS and Payroll System are like the two pillars designed to support your crumbling HR department.
Also Read: HRMS: Best software to ensure payroll compliance management