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Poor old payroll. You can get it right 100 times and not a single body will thank you. But get it wrong once and all hell breaks loose.
Payroll across borders:
But effective payroll isn’t as modest as updating a spread sheet once in a while. If only. It’s an ever altering balance of compliance and risk reduction that involves staying current with HR technology, complex regulations, and public policy. It disturbs everything from compensation and benefits, to health care and retirement programs.
Managing the HR costs effectively:
The costs of doing all this, per worker, are steadily rising year over year. Global payroll is a complex equation to solve. 55% of global companies doubt they will ever find a payroll solution that satisfies their payroll needs. On top of this comes the essential technology infrastructure, which can become particularly expensive when a business operates in multiple locations across the world.
However, in order to gain the benefits of standardization and automation, HR and Payroll Software can work in harmony. Implementing a cloud-based HR and Payroll Software will help organizations move forward on this journey and further decrease costs. The complexity of payroll can slow down the pace of expanding into new worthwhile markets, thus limiting growth opportunities.
The power of standardization and automation:
By standardizing, automating and outsourcing, Payroll Software can turn into a strategic asset rather than a constant worry. When this function isn’t organized correctly, payroll costs combined with personnel and paybacks administration could account for up to 35% of total HR costs.
More than two-thirds of HR leaders say they want union and coordination in Payroll and HR Software worldwide. They see a global HR and payroll system as part of the global development.
Ultimately HR and Payroll Software share the same goal, to support the people within the organization. It might be said that HR is a company’s backbone, with payroll being the key way to recognize its most essential asset. In order to support their workers, HR must look to drive these functions towards a more integrated model. By PeopleQlik’s HR and Payroll Software is a cornerstone of managing Human Capital, enabling the organization to get appropriate data about their workforce, become more productive and meet its strategic business goals.