Better three hours too soon than a minute too late, a popular saying which ties in perfectly with Peoplesonic’s introduction of Automated Payroll. A simple and easy to use interface, that allows for a time-efficient solution to your financing problems. 

Is Your Risk Calculated?

In terms of finance and calculation, it all comes down to margins and efficiency. There’s a certain speed at which an employee can execute a task and even then the accuracy of said calculations is in doubt. Manually crunching numbers, entering data, and calculating leaves a lot to be desired from an efficiency standpoint. Similarly, as humans are incapable of perfection a few natural hiccups are inevitable.

For a small business or any business, all these factors are very much counter-intuitive. So why not opt for a ready-made solution; Peoplesonic? Payroll automation simplifies and completely revolutionizes the traditional method as it is capable of calculating a string of numbers in seconds. Calculations also include adding bonuses, taxes, and other variables that would otherwise be tedious to factor in.

Automated Payroll Gets Work Done Faster, Simpler, And More Efficient

Setting up your payroll on Peoplesonic for the first time may seem daunting, however, it’s as easy as a few taps. An admin has to specify a few factors such as payroll date and frequency, which can conveniently be altered from the settings tab. It’s as simple as that, with the data entered the process will completely be automated without any errors. You’ll be able to see each payroll report and overrule any edit you wish seamlessly, every detail is just a tap away!

This will remove the need for an in-house resource to manage finances as well as a host of other features to top it all off. The software automatically transfers the funds via bank transfer online and notifies both you and the employee about the transaction. Keeping a strict check on time won’t be an issue either as the system runs very precisely on time, allowing for each transaction and process to be done on the dot. All of this will be synced and stored to keep a complete record of the process.

Organizing Your Organization With Automated Payroll Filing

Peoplesonic completely encapsulates payroll automation, and payroll filing is no different. This feature can be activated by enabling the IRD button and linking your IRD account to the Peoplesonic system. This allows for the payroll to be optimized as per the IRD regulation and will continue to generate during its set schedule. This will allow the system to periodically maintain a tax record, and store each record as a backup. Worrying about errors won’t be an issue either, as the software is designed in a way that minimizes calculation errors and smoothly calculates your taxes.

The payroll process will no longer require human interaction or handling per se, the system will reliably produce results in an effective manner. The filing system will store and manage data, generating folders to organize as it goes forward. This will facilitate you due to its timely processing and simple interface. Convenience and efficiency all in one system!

Make Changes With A Few Clicks

One of the points of using an automated system is the ability to customize and alter any components to suit your needs. Similarly, the payroll allows for edits to be made anytime. Any edit will quickly be updated and the relevant changes will be showcased after a quick refresh! Adding a new employee is a prime example, another would be to change bank account details. If any detail is incorrect or does not have a correct value, it will be highlighted and not processed to reduce errors. This allows you to have full control over the system despite it running independently.

Peoplesonic’s entire interface runs on the same easy on the eye aesthetic which helps you navigate seamlessly.

Maintaining Employee Satisfaction

Although being an automated system, the boost in employee satisfaction is vast. The interface allows users to request and access files/libraries much more easily and even has the benefit of displaying remaining leaves etc. This allows the employees to stay in check and aids in the management side as a constant check is not necessary. It guarantees each change is made to the server at the earliest providing for a smooth and productive experience. Employees will be notified if they arrive late or have exhausted all of their leaves and paid leaves, a detailed report of each user is available to keep the financing transparent. 

The software removes the guesswork for the employer and keeps the employees in the loop, allowing for an overall efficient system.

Efficient On Time and Money

Normally HR-related tasks are carried out by an assigned team member, which exhausts the human in question, countless resources, and more importantly time. An in-house HR manager may have its perks, but it’s clear the heavy amounts of money and time do not add up. However, a feature-rich solution allows you to carry out multiple tasks within a finger’s reach and a few taps here and there. So a well-optimized payroll system carries out your tasks while eliminating human errors, and automates your problem into the all-around solution you need!

PeopleSonic’s HR management platform has been upgraded with new features, implemented with greater team productivity and HR efficiency in mind. After last week’s deep dive into timesheets, this week we will look into leave liability reports, what function they perform, and how to make the most out of them.

Leave liability reports can be accessed in the PeopleSonic product under the payroll menu. Let’s get started.

What is leave liability?

Employees are entitled to a certain number of leaves a year, based on their employment status (permanent, full-time, or part-time – contract employee

s generally don’t accrue leaves). Leave liability is the financial value for all types of leaves accrued by the employee, that is owed to them by the company. 

What does a leave liability report include?

A leave liability report is a detailed breakdown of an employee’s pay cycle, the leaves they have accrued, and their financial liability. Below is a look at what the PeopleSonic leave liability report looks like:

The weekly pay rates (ordinary and average) are determined by the laws of your particular country, as is the holiday pay liability – these are used in conjunction with the number of leaves accrued to calculate the leave liability per employee.

Automating the leave liability report

Leave liability is generally a manual and collaborative effort between finance and HR departments to calculate and record the relevant data into balance sheets. Manually generating a leave liability report, whether on a daily or weekly basis, would involve daily communication, checks, and balances to make sure the most updated information is fed into these reports for managers and the company decision-makers. Not only would that be a time taking process, but would also be prone to mistakes due to so many moving parts involved.

PeopleSonic helps centralize and automate the leave liability report – a single datasheet where you can sort by employee name and date is a powerful tool that is updated automatically based on data picked up from other features of the product. This means that managers can, at the press of a button, get the latest numbers for any employee’s leave liability, which would let them evaluate the cost of an employee potentially leaving, among other things.

The need for leave liability reports

Companies need to have on the fly access to leave liability reports for balancing financial liabilities, work output, and employee welfare. That’s because employees who don’t take the fixed yearly leaves accrue a higher financial liability to the company, but it also negatively impacts their mental and physical health, which in turn can affect the quality of their work. On the other hand, poorly planned mandatory time-off can also impact project timelines and work output on time-sensitive tasks.

Smaller businesses can’t afford to have dedicated resources in finance and HR collaborating and managing annual leaves and liabilities, but it is a critical task that needs to be performed. That’s where solutions like PeopleSonic come into play, with dedicated reports to help reduce the workload involved in strategizing around leave liabilities. With this feature rolling out soon, small to medium-sized businesses can quickly take advantage of it by offloading a lot of manual labor to the PeopleSonic platform!

PeopleSonic has recently introduced timesheet management features to help small businesses run smoother, by offering simplified visual interfaces to view, approve and edit timesheet information and save time and effort involved with manually exchanging and approving timesheets via email.  

There is also an option for bulk import of timesheets so managers and admin can quickly parse a high volume of timesheet data – faster, smarter and a more efficient way of going through bulk timesheets!

Why Timesheets?

This of course begs the question, why timesheets?

With 2020 completely changing how businesses operate and how we ‘work’, smaller businesses have been left scrambling to adjust to the new normal as they lack the manpower and resources of bigger organizations to brute force a solution. Instead, they have had to resort to being smart about how they transitioned to hybrid work and implemented COVID-safe practices for their office space.

Small businesses have faced unprecedented hardships in sustaining and growing and for them, the smarter way of working will always favour them over any ‘traditional’ processes. In this case however, the ‘traditional’ process of timesheets has made a resurgence as the smarter solution to keeping businesses operational and highly productive in the face of changing workplace norms and is a solution that all small companies need to adopt.

For these businesses, an interesting trend has emerged with how timesheets have been keeping teams within those businesses functioning. Here’s a quick breakdown of how timesheets became a sleeper success to keeping small and medium businesses running “business as usual”, and how the timesheet feature from PeopleSonic can help you achieve the same.

Resource allocation in a hybrid setup

With most businesses worldwide, whether large or small, having to work completely or partly remotely, the way teams communicate has changed, and that results in poor collaboration or resource management – you can no longer turn in your seat and ask your team member what they are working on!

That’s where timesheets come in – a daily timesheet will help a manager stay on top of how their team is functioning and can allocate resources to specific tasks or projects based on their importance and time/cost budgets. These timesheets also let managers understand how tasks are being completed and can understand the resource costs associated with such a task and allocate accordingly in the future.

Boosting project management

Timesheets have always been important tools for project management, but that importance has become crystal clear this year. Timesheets let managers understand which employees are ideal for a new project, task or role based on their performance in similar tasks previously. They can analyze how certain team members perform in different time-based scenarios, identify key skills and learn to utilize each resource to their maximum potential.

Project managers can also benefit from timesheets when planning trainings and improvements for teams and future projects. Employees in need of additional training can be highlighted, overall efficiency of putting certain people together on a task can be determined, as well as their availability. All of these things help project managers estimate optimal costs and time requirements when creating projections for future and current tasks.

Reduce resource wastage

Or alternatively, increase efficiency of resources. A timesheet can help a manager pinpoint the areas where a team’s efforts are being wasted. By identifying tasks that are taking longer than usual, or necessary, managers can figure out how to prioritize tasks and make decisions to optimize project completion.

What do these things achieve for small businesses? In short: saving money. Optimizing processes to reduce overhead has been critical for small to medium businesses this year and is a trend that’s likely to continue into next year and beyond.

 

As we’ve previously discussed in some detail, inefficiency in core HR tasks leads to a lot of wasted potential – potential that could be critical to the success of a business.

Today, let’s look at how a tailored HR solution can boost the efficiency of those core tasks, using the PeopleSonic Integrated HR Management Solution as an example. 

Data Standarization

Employees come and go, that is a fact of running any business – this includes HR personnel as well. If there is no standard solution implemented, each new employee will do things slightly differently, format spreadsheets and documents in their own way. That is something which will become more problematic as the amount of data increases and the amount of HR personnel increases and someone has to search through previous data for critical information.

By implementing a standardized data input and storage system, the PeopleSonic HR solution ensures effective management of employee data and makes it easier to enter or retrieve information – no more scrolling through thousands of spreadsheets and cells!

Cloud-based Management

Is your business spread out over multiple locations? Does a single HR team manage all locations, or is the team split among those locations as well? In both those scenarios, you must have experienced the issue of data redundancy and sharing – how do you easily create a central repository where you, the business manager, can oversee data from all your business locations, at all times?

The solution is simple: Cloud management. Modern HR solutions like the one offered by PeopleSonic leverage the robust security and adaptability of the cloud to give an HR tool that can be spread out to as many locations as possible, and is accessible from any computing device, be it desktop, laptop or smartphone. Untether your data from physical locations and let PeopleSonic’s cloud-based HR management software store it in a secure, centralized location and save your team the chore of manually combining and storing the organization’s data.

Employee Self Service

Empower your workforce – provide them with a simple interface where they can see and edit their personal details, view their attendance statistics, payroll related notifications and all other HR related data.

This also helps unclog the work pipeline by saving your HR team the hassle of manually following up with each employee, the self service portal acts as the middle-man to obtain all necessary data from employees.

Customization, Customization, Customization

What good is a digital HR management solution that doesn’t let you tailor the software to your unique business requirements? The PeopleSonic Core HR features can be customized to your company’s structure – your team can define and manage jobs roles and designations for your company, as well as their access levels and permissions – you can in fact choose just how many they are able to view on their PeopleSonic dashboard.

PeopleSonic HR integrates with payroll automation, leave and attendance management systems to provide a single end-to-end solution which can help your team get on top of their people management woes. Read on if you’re on the fence about why your business needs to automate payroll management, or why you need to pay attention to leave management.

Even better, why don’t you make that leap and experience for yourself just how an integrated HR management solution can provide you with the time and resources to elevate your business to new heights.

It may sound slightly counterproductive, but your HR team should not be spending a bulk of their time doing “HR things”. Their time and energies should instead be spent on exploring ideas that boost or ensure the success of a business, for instance, through increased empathy and emotional intelligence in employees, or through the successful implementation of essential human factors.

Let’s identify what those “HR things” are that end up eating far too much time and prevent your HR from elevating your organization to its true potential.

Payroll Management

Are you a business that is still handling payroll manually, or through a combination of inefficient apps and spreadsheets? This is something we have discussed in detail a few times before. Whether you are a small-to-medium sized business or even large, there are enormous benefits to automating payroll and freeing up HR to pursue higher value projects.

Statistics show, in fact, that there can be upto 80% reduction in overall payroll costs merely by switching to a competent automated payroll system. With such overwhelming benefits to both cost and efficiency, there really is no excuse for being one of the 10% of businesses still not implementing payroll automation in their HR processes.

Employee Status Tracking

Another avenue that sucks up a significant amount of daily time for HR is verifying employee status and attendance. If you’re not utilizing  state-of-the-art leave management and attendance tracking systems, you are essentially burdening your HR with manual or email-based follow-ups to track down sick employees or monitor punctuality and time efficiency.

Not only can investing in such systems ease unnecessary load from your HR team, these systems have proven track records in improving employee motivation and accountability, which directly impacts their work quality and rate. The benefits to the business bottom line and employee productivity are significant in comparison to systems which especially still rely on emails or text messages to track employee absences.

Essential or “Core” HR Functions

These essential tasks, often dubbed “core” tasks are the day to day work that any HR team is doing. This ranges from personnel and document management to handling departmental and employee requests, and any office administration tasks.

While that may sound like the entirety of what most of us assume HR does, the reality couldn’t be more different. The fact that HR spends so much of their time on these daily tasks prevents them from focusing on other projects. Add into that tedious work like manual payroll management and monitoring employee punctuality and that leaves HR with almost no time in their work schedule at all!

The solution is simple: Invest in a customised HR platform that allows your team to automate and optimize these repetitive and time-taking tasks. In fact, integrated solutions such as PeopleSonic often provide businesses with a suite of features that can handle everything from Core HR to payroll and leave management, along with industry leading productivity enhancements through time and attendance tracking.