Employees are the best assets of any enterprise and need to be managed efficiently in order that they may give their best. Payroll and how it is managed can be a cause of satisfaction or dissatisfaction. It can directly affect employee performance and thereby have an influence on the company’s competitiveness as well.
Business relies on human resource, its best asset, for growth. However, there can be friction, especially in matters of payroll. If there are any errors in calculation then an employee develops a grievance and it affects his performance thereby affecting the company. Continue Reading
Outsourcing is on the rise worldwide, and the reasons are clear. In the current global economic climate, companies need to save money wherever they can. And the numbers clearly show that outsourcing functions like payroll management can lead to significant savings compared to an in-house solution.
Studies have shown that companies who retain functions like payroll and compliance in-house can spend 18% more than companies who outsource on average. Significantly, the costs make a larger dent into overall profitability for small and medium enterprises (SMEs), where spends have to be planned out even more carefully. Continue Reading
The small and medium enterprise (SME) space is highly competitive, so every rupee and every man-hour spent is crucial. Focusing on core competencies is vital in running a lean, effective organization and it makes sound business sense for an SME to outsource a process like outsourcing. Let’s look at a few of the major reasons SMEs are choosing to turn to payroll services:
- Focus on building your business: Payroll management is a complex and time-consuming affair. You want your staff to focus on activities that generate value and drive profitability; outsourcing the process frees them to do this. Continue Reading