Employees are the core strength of any business. An engaged and committed team can achieve anything and overcome any challenge.
I wise man once said, “Take everything away from me, just give me my team; and I will rebuild everything just the way it was before.”
One of the primary factors that affect employee satisfaction and engagement is “Transparency” in the organisation. And one of the primary areas where transparency is a must is payroll i.e. “Salary and Compensation”. It is almost needless to say that as a business leader, you must keep transparency in this area.
Some of the best practices to build transparency in payroll are:
- Have a clearly defined leave policy. Do not make leave grant or denial someone’s personal decision. Specially, unpaid leaves must be calculated based on a pre-defined policy.
- Have a clearly defined late hours & half-day policy. This way, people will know the time limits and will avoid conflicts over late coming/early going issues. An attendance machine is a must to achieve this.
- Prepare a holiday calendar for the entire year before beginning of new calendar or fiscal year. (Now is the right time to create a holiday list for fiscal year 2020-21)
Once the above points are taken care of, the next step is to deploy a payroll software which brings everything together. If your employee strength is more than 10 and you are still not using a Payroll Software, it’s high time to start using one right away.
Runtime Payroll, our desktop-based payroll software, lets you enable all the functionalities that increase transparency in your payroll process and thereby build employee satisfaction and trust in your business.
Some prominent features of Runtime Payroll that will delight your managers as well as team members are:
- Leave policy for automatic grant, lapse and encasement.
- Holiday calendar for entire year. If your business runs from multiple locations, you can setup different holiday calendar for each location.
- Automatic imports from attendance machine. No need to manually mark attendance every day. No more conflicts due to manual errors.
- Automatic calculation of overtime based on number of hours worked beyond usual shift hours. This can be configured to define threshold (minutes) for considering overtime.
- Automatic e-mailing of salary slips on employee’s e-mail address (coming soon)
- Birthday and Anniversary reminders to pre-plan events (coming soon)
- And many more…
With the new fiscal year around the corner, it is the right time to begin fresh.
Download Runtime Payroll free of charge and start your trial today.
Click here to visit product page for more information and download link.