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payroll data

6 ways your payroll data can save you money

By | Payroll, Uncategorized | No Comments

For many businesses, paying your people is the single most expensive bill you’ll incur – representing up to 60% of overheads. Despite this, most overlook the value of the data that is available in your payroll system – and its ability to save you money in the long term. Undoubtedly, companywide initiatives that focus on interrogating HR data, talent metrics and performance analysis are crucial; but combine this with your payroll data, and you’ll have an entirely new view of your business. As a function, payroll is uniquely placed between your HR and finance departments. While many businesses have a…

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6 tips for payroll success

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While processing payroll can be one of the biggest sources of frustration, it is unequivocally one of the most important parts of your business. Your employees are your most valuable asset, and as such, they deserve to be paid correctly and on time. While payroll is often the biggest expense for a company, it can get even pricier when mistakes are made. Making mistakes when running payroll can be costly not only to your employees, but to your business too – both financially and reputationally. Such mistakes might include overpaying or underpaying tax, paying employees late or incorrectly, making incorrect…

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5 ways to better manage payroll in your business

5 ways to better manage payroll in your business

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No matter what industry you work in, managing payroll for an increasingly diverse workforce can prove difficult for even the most seasoned of payroll professionals. Staff costs are among the most expensive costs for businesses. As such, managing payroll effectively to ensure employees are paid correctly and on time is important in order to maintain morale and productivity. Payroll can be confusing. From different tax bands and rates of pay to commission payments, bonuses, sick pay and maternity pay; it’s clear that the life of a payroll manager can become increasingly stressful as a business grows and employees more staff….

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Future of HR

Where will the HR profession be one year from now?

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The role of HR professionals in businesses has changed significantly during the past decade and the modern workplace has radically transformed. Where we work, how we work and why we work are no longer the same as they were ten, or even five years ago. As the workforce, the economy and technology have changed, so too has the role of the HR department. No longer are they considered as a purely administrative department, but they’re now being recognised as a strategic function that is critical to success. Time moves very fast in HR. With frequent changes to legislation, updates to…

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outplacement

What is outplacement and why should employers consider it?

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The term ‘outplacement’ was coined back in 1977 by James Challenger, founder of Chicago-based firm Challenger, Gray and Christmas. In short, outplacement is a way for employers to support employees that are leaving. Often provided to employees that have been affected by redundancy, outplacement services can also support those that are retiring, starting their own business or simply moving on to pastures new. While there is no legal obligation to provide outplacement, many employers offer employees a range of support that will help them to navigate the job market and find a new role as quickly as possible. Outplacement can…

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