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payroll

An organization has to make a difficult decision of whether to have an internal team do your payroll or to have it outsourced to experts. 

Here are some of the benefits of outsourcing payroll.

Saves You Time

Saves You Time

Payroll management is not an easy task and every small detail has to be looked at. Outsourcing it to experts makes sure that you free up time which can be then used for some other relevant work.

Security Matters

Security Matters

A trusted payroll firm will make sure that all your data and records are preserved and secured with them. They have extensive security which can be beneficial for you.

Reduction In Costs

Reduction In Costs

If you outsource your functions and then compare the amount of money you will save in doing so, you will realize you have saved a significant amount of money.

cost

Expertise

The people working at the payroll management firm would be thorough professionals and experts in their fields. This would eliminate your worry as the payroll process would be done seamlessly.

Covid-19 has had a negative effect not only on the economy but almost all the industries and households. Yes, there will be post Covid-19 effects but it is not something we cannot fight. With the right strategy and right state of mind, we can survive the effects and come out stronger.

ZingHR has developed resources to help you through these challenging times. Click here to know our most sought after Work From Home offerings to help you cross this hurdle.

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Most HR leaders these days have well-accepted the fact that their roles have changed drastically with the advent of technology. They now are responsible for providing a safe and convenient working environment for their employees and to ensure this they need to move ahead of the mere task of supervising the employees. The task of ensuring efficient and effortless execution of work by employees can now be taken care of by using HR and payroll software. This digital transformation of human resource management not only buys the HR team time for more productive activities but also helps in simplifying the regular jobs of the employees as well as the human resource managers by migrating towards the cloud-based models.

Considering a Change in the System of Management

Many corporate owners and human resource managers may feel stuck with the legacy system that they have developed after investing both money and time to find a solution that works best for their firms and employees. Unfortunately, the only thing that can be said for the use of such old and outdated HR systems is that in the end, it is the firm that is losing its efforts and value by continuing with such systems instead of migrating to more modern solutions. As a matter of fact, adopting the state-of-the-art HR and payroll management software allows the firm to get most out of not only the human resource management but also all the employees of the company.

Benefits of the system

  • Payroll Automation One of the most significant components of HR is the experience and satisfaction of the employee, but as more younger people with better technological knowledge are taking over the workforce, human capital management is becoming synonymous with user experience as employees expect the same level of interaction as customers technologies deliver. To satisfy these expectations, it is needed to equip the company with the best HR payroll software available in the market that provides fast and flexible service payroll options accessible on demand. This not only facilitates automatic data processing for payroll functions to remain compliant with all regulations but also improves the employee experience and satisfaction.
  • Handling Tax and Payslips Creation One of the most significant tasks before the human resources management department the creation of employees’ payslips. While most free HR payroll software fails to create payslips, commercial software allows easy, and quick generation of payslips for all the employees. Such commercial software helps you in not missing any latest tax updates by notifying when any update arrives. Also, as it is easy to make mistakes while handling such aspects, it is more reliable to use HR payroll software for managing such crucial tasks to avoid any chances of mistakes. The comprehensive validation procedures and checks associated with the software prove to be effective hurdles for entering of any wrong information.
  • Increased Security and Confidentiality with Cost-Effectiveness Another important benefit of using HR and payroll software that makes it the one-stop solution for all the HR and payroll needs of any firm is the security of information that it facilitates. This is so because by managing the payroll by using a software, the company removes even the slightest possible level of uncertainty that may arise by sending private information of employees to any third party. This self-control over the payroll also provides great potential to save money by eliminating the cost incurred in hiring professional service providers. However, to keep a check upon the downsides of not hiring professional service providers, it is important to rely on commercial HR payroll software instead of opting for free software available. Investing in commercial software air also shows help to accord with the highest possible IT security standards, thereby making the complete process more reliable.

Conclusion

Thus, it can be concluded that when the right HR software is used it proves to be a better solution for the HR and payroll needs of any company. The task of managing can be taken up by any employee with a good understanding of IT to keep a check over the complete process.

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Are you struggling with the traditional and time-consuming payroll processing job every month? It’s time to forget all headaches and start using HR and payroll software. That helps to automate the entire range of payroll work includes in calculating salary, statutory deductions, and the amount of pay-out to be done. It also helps in ensuring that the employee gets the correct calculated amount on time. Besides calculating gross salary, net salary, statutory compliance, and deductions, HR payroll software is beneficial in a variety of ways. Let’s learn more about the advantages of using HR and payroll management software.

The Advantages: Typical payroll software offers a wide range of advantages to the user, employee, and the organization alike. Here are some of the most evident benefits.
  • Cost-Effective Solution With the evolution of the Saas model, everyone wants to pay for what they use. Even if a critical function is considered, companies want to manage it using software that can act accordingly. Nobody will invest a huge amount at the very beginning. Cloud-based HR and payroll software are available at quarterly, monthly, annual, and half-yearly plans. It’s a cost-effective and frugal option for everyone.
  • It’s Easy to Use You can configure payroll software as per your organizational requirements. You can configure it easily with multiple options, features, and business policies. All necessary data about payroll, such as attendance data, salary structure, loss of pay information, etc. are pre-populated automatically, just like all the other modules are in sync. Payroll transactions for all your employees can be processed with just one click. Payslips can be published instantly, and bank transfer statements can be uploaded on time to disburse salaries. You can perform all these tasks efficiently as the best HR payroll software comes with a well-designed payroll process and a self-explanatory user interface.
  • Relief from Performing Regulatory Tasks Filing statutory remittances, deductions, and monthly tax calculations are time –consuming and monotonous tasks. Sometimes these tasks tend to cause hidden losses to the organization. Moreover, incorrect filing can lead to levying penalties and fines to the organization. Cloud-based HR and payroll management software is the only respite in such cases. It will help you to remain updated about tax slabs, latest changes, amendments, and laws. Also, the HR software providers will auto-update the software without any interruption.
  • Easy and Fast Reconciliation HR and payroll software will enable you to maintain accuracy while creating each payroll by offering several types of payroll reconciliation tools at your service. You can readily compare the past and present month’s pay and process the salary register. The payroll statements can also be accessed as per your requirement. The payroll reconciliation feature offers you complete peace of mind and assures you about no errors in the payroll.
  • Generate Accounts JV Easily To ensure a smooth link between the payroll and the finance team, the best hr payroll software will allow you to create Accounts JV easily through-
    • In-built Tally formats
    • Wide-ranging Excel output capacities
  • Obtaining Multiple Reports Could-based HR payroll software allows you to fetch multiple reports like-
    • PT reports
    • Reconciliation reports
    • Reports under the CLRA Act of various
    • states
    • MIS reports
    • Reports under Shops & Establishment Acts of different states
    • Customizable payroll statement
    • Ad-hoc and user-defined reports
    Once you have figured out the multiple benefits of HR and payroll management software, it’s time to purchase the best solution and start using it. That will be your first step towards replacing manual payroll tasks with software tailored for your specific needs.
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Every individual in an organization, including clients, departments, and team matters a lot to the manager. Tackling them all with equal attention sometimes becomes tough for the manager. But the way a team collaborates impacts the innovation, growth, and success of an organization. However, a team’s cohesiveness and employee engagement level depend on how well you can appreciate and value your workforce contribution. Here comes in need of a cloud-based HR and payroll software. Here are a few ways how a cloud-based HR management system benefits in improving team collaboration.
  • An enterprise social networking system The employees of an organization expect an integrated platform internally to connect easily over professional matters. Such a platform promotes improved communication within the organization without any hindrance. An enterprise social networking platform leads to fruitful and brainstorming sessions amongst the employees. It can also prove beneficial in improving collaboration between employees of different departments working together.
  • Performance management process Employees are always eager to know how they are performing and are always looking for constructive feedback. The best cloud HR software will continually provide objective information to the employees about their role. Periodic meetings can also be scheduled using this system between the teams and the supervisors to collect and offer unbiased feedback about individual work performance. Offering online coaching and mentoring are also some practical ways to provide performance feedback. That helps in improving work productivity.
  • Managing reimbursement The employees of an organization often tend to spend from their funds for organizational needs. If they face any complex administrative difficulties while reclaiming the money, employees might be disgruntled and demotivated. The best cloud-based hr system will make the reimbursement process a simple and seamless one. It will ensure that the employees do not have to go through a time consuming and cumbersome process to get reimbursed.
  • Efficient payroll management The payroll system of any organization should be timely, accurate, and in compliance with the industry standards. Money, no doubt, acts as a great motivator. If the employees feel that they are getting compensated timely and adequately, they will put their best during work. Payment, incentives, and benefits will primarily mould and influence the behaviour of an employee in the workplace. It will also help in increasing the collaboration level exponentially.
  • Planning work timings You need to manage the work time of the employees efficiently to improve productivity. Shifts assigned to the employee should be convenient and customized as per their personal need. Shift policies must be uniform, and there should be provision for weekly holidays for all the workers to rejuvenate themselves. Using the best cloud HR software will ensure flawless shift planning. You should also encourage work from home and telecommuting for the employees with family commitments. That will help to retain promising workers and engage each employee in a meaningful way.
Last but not least Employee engagement and collaboration is the new buzzword today in every organization. Following the current dynamic business world, the managers are aiming at maximizing the level of cohesion to offer a competitive edge to the organization. The strategies mentioned above will no doubt go a long way in controlling employee engagement levels in the workplace. At present, there is cloud-based HR and payroll software that can solve all the above problems in one go. All you need to do is go for the best solution available in the market. Try to research online to spot the best cloud HR software. Once you get the organization offering the system at a competitive price, place a call for further arrangements.
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Zero Touch Payroll offers a lot of benefits and adds value to the company. It makes payroll processing easy, convenient and fast. The automated feature reduces human input and gives a much productive output.

Here are a few reasons as to why companies have started using Zero Touch Payroll.

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The world is moving towards automation and digital transformation. With less human intervention and more success rate, ZingHR’s zero-touch Payroll is the need of the hour. A revolutionary tool that can possibly change the way compensation and benefits are administered and measured. Here are some awesome benefits of Zero Touch Payroll

Flexible Accessibility & Smooth Use

Flexible Accessibility & Smooth Use

The convenience and the ease that Zero Touch Payroll brings to the table are commendable. Also, it can be accessed anytime whether it is daily, weekly or monthly and the disbursement can be done anytime.

Error Reduction

Error Reduction

The automatic payroll processing makes sure that the error rate is reduced by a huge margin. Less input from humans will reduce human errors and make the processing more accurate.

Frees up Some Time

Frees up Some Time

As the payroll processing will involve less of human input, the Business Managers can get the pulse of the business and make them work more strategically.

Insights Are Important

Insights Are Important

Zero-touch payroll provides you with accurate data graphs and real-time data insights which can help you for your projections, costs overview and the decision making process.

Faster And Smarter Way to Work

Faster And Smarter Way to Work

People always prefer fast over slow and smart work over hard work. Zero-touch payroll gives you fast and accurate business outcomes without hampering your payroll processing.

Covid-19 has had a negative effect not only on the economy but almost all the industries and households. Yes, there will be post Covid-19 effects but it is not something we cannot fight. With the right strategy and right state of mind, we can survive the effects and come out stronger.

ZingHR has developed resources to help you through these challenging times. Click here to know our most sought after Work From Home offerings to help you cross this hurdle.

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Rewards and recognitions are the best way to motivate employees to keep working in an efficient manner and to retain top talent. Treating employees the right way and motivating them frequently is a must for every organization to help enhance employee performance. These rewards and recognitions can be linked with the HR Software so as to track the rewards given to each employee. 
Given below are the 5 Best ways to revamp your rewards & recognition systems:

  1. Rewards on the basis of the common  goals of your organization:
    This is the most important step towards developing appropriate rewards and recognition system. Assign targets to your employees so that employees work towards the common goal so as to meet their rewards. It motivates the employees to step out of their comfort zone and expand their capacity. Employees will take the extra steps needed to reach the goal. This, in turn, helps both, the employee as well as the employer to grow.
  2. Encourage peer-to-peer recognition:
    Most of the organizations, use this strategy to encourage healthy competition among the employees. The employees are given the task of reviewing each others’ productivity and work quality. This enables them to know what more they can do to improve their own performance. By seeing the employees performing better than them, a sense of healthy competition is created and there arises a race between the employees to outperform within the team. Employees get to work on their weaknesses, that keep them from achieving the target they could not. This results in increased productivity and higher work capacity.
  3. Use the “Badge” as a reward:
    A simple technique derived from school is to reward a person with a Badge for his actions that show his responsibility. Employees can be given rewards in the form of Badges, based on their performances. These badges can be made visible on the HR Software of the organization to show to the world about the top-performing employees. This instils a sense of responsibility in the employee with a badge to maintain it by performing more, and among the other employees by providing them with a goal to work for. This enables the organization to have a healthy competition among the employees.
  4. Managers First:
    Employees are exactly like children in a family. Just like a small child, that learns by observing its elders, employees learn a lot from their managers in the workplace. Managers in the organization must be motivated to work harder towards their targets. When the managers themselves strive hard to reach their targets, the employees who observe them too are motivated to crush the targets. The right environment produces the best employees. Lousy and lazy managers, can in no way motivate their employees, nor can they contribute to the organization in any possible way.
  5. Personalized Rewards:
    Most of the companies and organizations blindly believe that the only means of employee reward is an appraisal which is reflected in the HR Software. But it is not all that the employee wants. This can be changed to gift vouchers in the form of Offer Coupons for Coffee with a friend/partner, or meal coupons. If the organization is financially strong enough, it can reward the employee with a trip with his/her spouse to their favourite holiday destination. You can motivate them by rewarding through badges or recognizing them within the organization with the help of rewards and recognition system. This is an excellent way to take care of the employees by securing their work and life balance.
    “Take care of your employees. Or else they will use the Wi-fi in your organization to search for a new organization!”, said a wise CEO. Retain the best talents in your organization by recognizing their efforts and rewarding them in the right manner for their contribution towards the organization. This will make your workplace a happy and outstanding one.

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It is not easy to run a company and there are a number of things which are related to run an organization in a seamless and efficient manner. From taking care of all the needs of clients and the employees, a business owner has to ensure that he takes care of each and every aspect of it. The one thing which is no less than a tedious task is to maintain the data of all employees, their salaries, and allowances. These all are payroll related methods which need to be carefully taken care of.

Payroll Management is one of the most important parts of an organization and all the payroll related matters are tackled efficiently as per this system. This system is basically helpful in maintaining the precise data of all the allowances of employees and also for the purpose of processing their salaries and doing the deductions. This whole process of counting and deductions can be really time taking and there can be a number of errors which can occur if this work is done manually, this is where the Payroll Software proves very helpful and efficient.

This software is very effective, less time taking and efficient as well and along with this it also saves the expenses which a company has to make otherwise and it also increases the efficiency of work as well. There are many reasons why it has become compulsory for all the companies to have the payroll system in place, be it a small or a big company, all the companies can be benefitted by such system.

Here are some of the top reasons why as a business owner it is necessary for you to have the payroll software for your company:

It is efficient to use:

If we talk about an organization which has 2000 employees and making the salary slips, doing the deductions and adding incentives all such of kind of work is next to impossible for a person when it comes to manually handling such task, however, with the use of the payroll software all the deductions and additions are done automatically, thus one can ensure that all the employees get the correct amount of salary every month.

Less Time taking:

When we talk about doing the calculations manually then it makes take a number of days to do the same task, though when we talk about the software, it takes very less time in doing all the calculations and providing the right amount of salary to all the employees.

Employees feel encouraged:

When the employees of a company receive the right amount of money every month then they also feel encouraged to work. Deductions which should not be there in the salary of an employee can make him/her lose faith in the management of the company, thus to gain the trust of a company it is necessary to provide them the right amount of salary.

You can also get in touch with ZingHr as they provide the best payroll management services.

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The Payroll Management system is fundamental accounting in any company as its deal with key financial aspect of the company. Payroll system basically deals with management of employees’ salaries, compensation, deductions and etc. Although Payroll is traditionally an accounting job but with the advent of software tools these tedious manual jobs are made easy and accurate.

The complete employee database is maintained in the Payroll Management system, gives instant, full and accurate information of any employee. The use of good Payroll software not only saves a lot of time to do the calculations for payments but also Money spend on that manual labor. Here are some of the uses of payroll software which reduces Time and Money.

  • Faster processing of Payrolls: Payroll is repetitive process in any organization. Hence, this repetitive process can be automated such that with minimal entries like leaves, deductions at source and etc., the monthly pay-slips are generated.
  • Error free processing: Manual processing of payrolls would normally take more than a week even done accurately. Since, manual calculations are error prone, taking into effect the errors and labor hours to process the payrolls every month, it is sensible to buy a software to do payroll management than to leave it at the mercy of manual labor.
  • Reduction in training: Payroll management is a very complex and risky accounting procedure, the staff needs to be high-skilled. For this, any company needs to invest heavily to be competent to carry out manual payroll management. Instead, one or few qualified personnel are required to manage whole company’s payroll using software.
  • Safety and security of data: The data generated in software will be safe over conventional data stored in Microsoft Excel, which are prone to corrupt at any time. The software ensures data security and data theft. Periodical backup will be taken and stored properly. Again, this saves a lot of time and money to regenerate data if lost.
  • Analysis of data: The data once entered in the software is stored permanently. All data can be retrieved and analyzed at any point of time of any employee. This cannot be achieved during manual processing and storage payroll system.

In light of the above benefits, it is advised to switch to software payroll management system that not only saves a lot of Time and money but is also hassle free and easily manageable. The company should consider above qualifications before buying any payroll software.

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Payroll is the process through which employees receive their paychecks and is obviously the most important part of an organization because everyone works for money. Most employees in any office are likely to leave if they do not get their salary in time. In some organizations, payroll is considered a part of the Human Resource Management department because they deal directly with the people being recruited and are also responsible for deciding the salary, bonus, and incentives of all employees. Payroll and the HR department are intricately linked and one is dependable on the other for the organization’s proper functioning.

Simply put, the HR professionals are the first to face basic questions from an interviewee like whether the pay is given on time, what kind of deductions are made from the salary, if the attendance is integrated into the pay package and in case of salary errors how fast can they be rectified. Thus, the onus of convincing a potential employee to take up the job depends on the HR department which definitely makes it an important part of the department. Job aspirants also enquire about the employee benefits being offered by the company but the bottom line remains that wellness packages do not make the organization credible but pay package paid in time do.

Payroll is also very much connected with not only paychecks but also hikes, deductions, bonus, benefits, firings and resignations all of which are considered part of the HR department. The information is confidential and both human resource and payroll management system deal with them in the same manner. What also holds true is that in case of payment delays the human resource professionals find themselves in an unwanted situation even though they are not directly responsible for it.

Manual errors leading to paycheck problems may sometimes kick the dust over the department. This leads many companies to depend on reliable payroll management system software rather than the human hand for dealing with the payroll. The software is usually easy to understand and implement. Accuracy is one of its strong points and can be adapted with ease. Most also carry a history of salary revision which is important for maintaining proper employee records. Every company can also feed the system statutory warnings relevant to the particular organization which is helpful for preparing the payroll. The programs also have the provision for flexible payouts like travel and overtime which the software calculates on its own and applies while preparing the pay heads.

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The primary aim all businesses have is of improving efficiency achieved by their workforce. As such it is important to streamline the activities like those connected with salary payment since it is one of the main time consuming activities company’s need to take care of. In such scenario businesses need to utilize payroll management system which can easily manage all the payroll related task in a completely efficient way.

In the following sections let us look at the benefits of utilizing such a system for your business.

What are the benefits of using payroll management system?

Advantage of Automatic Functionality:

These systems are able to monitor attendance for employees and also link such attendance data with the payroll system. Such payroll system can also automatically calculate leaves, salaries, payment of taxes as well as benefit allowances. Some of the other tasks these systems can perform include generation of pay slips and tax certificates.

  1. Possibility of Expanding the System:

Another good thing about these systems used for payroll management is that you can expand their functionality in case new requirements arise.

These systems have modules that can be added as needed and help to meet changes in requirement with increase in number of employees working for the company.

  1. Facility of Customized Reporting:

You can also make use of customized reporting along with facility of viewing details related to any worker or for all employees for a particular month. These systems also allow you to analyze present and also past pay slips made for employees.

  1. Cost Effective Solution:

If you do an analysis you will find that using such software is a lot more cost effective solution in comparison to hiring a company to take care of the task of managing your company’s payroll.

Overtime such software would turn out to be a lot easier system than manual operations, save your precious time and improve management’s efficiency.

  1. Zero Errors:

The best thing about such automation systems is that these have validation system and checks to ensure that mistakes do not occur.

In addition to it, operators cannot enter wrong information even by mistake so there is least probability of errors occurring in payroll management.