For human resource teams, determining the correct pay for a decentralized or dispersed workforce can often be a challenge. The result is that they are under great pressure to come up with the perfect payroll management system. The HR department must create a checklist of features according to the operations of the organization.
We have also listed 10 of these features in this blog post for you to take advantage of in payroll management software. Having these features gives you (as an HR) an advantage. There will be a lot of information included in it about the latest features that your next best payroll system must have.
Also, with this listicle, you will be able to simplify your decision-making process while shortlisting modern tools like the Vakilsearch payroll software during your selection process.
- The following steps should be taken to integrate salary information with employee data:
- In the modern payroll management system, salary data must be integrated with existing employee data to ensure effective payroll management. A process like this one is one of the next steps toward automating how salaries are deposited into employees’ bank accounts on a monthly basis.
- In order to achieve this goal, all HR professionals, or their team members, would share the burden of this step. In order to calculate salaries and deductions, less manual work will be required. So that the human resource department can concentrate on other critical areas to keep their talented talent on the track and to manage them effectively and efficiently.
- Leaves and attendance management integrated:
- A payroll management software must integrate with an attendance management system in order for salaries to be processed on time. In spite of this, not every organization has such an existing tool available to them.
- Fortunately, Vakilsearch offers payroll and biometric systems in its range of products. For automating all calculations.
- HR will be able to deduct the correct amount from employees’ salaries. The salaries would also be accurate at the end of each month.
- Integrate performance management software:
- Integration with the PMS is another way to perfect your payroll management system.
- Assign bonuses to employees getting salary raises or monthly incentive payments. Then employees will get what they deserve. Such a system would be used every month.
- Similarly, HR teams would not spend hours calculating bonuses. Save time with the integrated system to calculate the same on the backend.
- Reliable and smooth transfers:
- A payroll management system must be able to handle bank transfers reliably and smoothly with no glitches. For HR professionals to be successful, they must keep an eye out for this important feature in their preferred HR tool. It will make it easier to send out bulk payrolls at the end of each month since it will simplify the process.
- There will be no need for HR to worry about keeping track of salary counts or delivery reports. Upon confirming the success of a transaction, the system can immediately send them an email letting them know. Additionally, it is capable of informing the HR department if an error occurs during the transaction.
- As a result of this feature, HRs can save hundreds of man-hours each month and help save the organization money. Soon enough, employees won’t need to depend on HR to get their salaries credited. The system does it all with triggers predefined by the backend.
- Self-service portal for better job satisfaction:
- An ideal Vakilsearch payroll management tool has self-serve features or a portal that employees can access. There is an option here for the customers to look at their payslips, download them in different formats, find out about their tax deductions, and file their income tax returns.
- This eliminates the need for them to rely on an HR professional any longer for such tasks as these. It’s for this reason that the self-serve portal made available to all staff and managers saves time for them.
- There is a possibility that as the industry changes, more features might be added to the self-serving portal as a result. It can be implemented as a chatbot, enabling employees to have direct access to IT, Finance, and Admin Support through a straightforward chat interface.
- There will be no disruption to the HR department’s daily work schedule for them to solve the IT/Finance/Admin query that they have.