Blog

TalentPro’s Human Resources blog is a knowledge portal where we discuss the latest and best practices related to the Human Resources Industry. The portal educates the reader in various areas of interest such as Payroll, Compliances, Staffing, Human Resource Management Services (HRMS), Recruiting, etc.

Features to Choose Right RPO Partner

Features to Choose Right RPO Partner

In extremely competitive markets, organizations need to have the best talent to be on top. At times like these, an effective recruitment process is key. It can make or break an organization’s chances of success in a cut-throat industry or sector. Organizations that constantly look to innovate and stay ahead of the crowd have adopted Recruitment Process Outsourcing (RPO). RPO refers to the practice where an organization hands over its recruitment process to an external provider who provides quality hiring solutions for...

Pros and cons of Payroll Mangement

Pros & Cons of Payroll Management

Intro Payroll Management Process involves managing the financial records of the employees of a company. It includes employees’ details such as salaries, bonuses, incentives, deductions, and net pay, among other crucial factors. The law requires an employer to maintain these records accurately. This can be achieved using an in-house team or payroll outsourcing service providers. Why Payroll Outsourcing Solutions Gain Momentum The in-house payroll management process, though appearing to be simpler, proves time-consuming and expensive. Entrusting your payroll management to a reliable...

How to Handle Payroll for Out of State Employees

How to Handle Payroll for Out of State Employees

Out of state employees are employees of an organization in any of the following instances: When an employee moves out of state and has to travel for work, When an employee works remotely for an organization When an employee is designated by the company to carry out tasks in another state by the company. Managers have had to adapt to competitive working conditions to expand their organization’s interests across regions. Third-party payroll came to the rescue of managers and companies to help them deal with...

How to Handle Employees Discussing Politics in the Workplace

How to Handle Employees Discussing Politics in the Workplace

Description Modern workplaces are prone to political discussions and conversations associated with various political affairs. While a few of your employees may find this amusing and interesting, from the productivity and work harmony perspective, it is something that had better be prevented. It is the responsibility of efficient HR Services to avoid political discussion among employees in the workplace. The Need for Avoiding Political Discussions at Work To be able to achieve the business objectives and a conducive work environment, the workplace...

HR Outsourcing Service for Small Businesses - Everything You Need to Know

HR Outsourcing Service for Small Businesses: Everything You Need to Know

Description Business organizations, regardless of the type and size, need to adhere to HR Statutory Compliance not only to become successful but also to avoid legal liabilities. HR services are a crucial component of any modern business today. But not all businesses are equipped with the capabilities to manage their human resources perfectly. Here’s where outsourcing HR Services helps small businesses to efficiently handle their HR management by providing reliable staffing solutions, payroll management solutions, and much more. Outsourcing HR Services...

Why Compliance is the Most Important Part of Business Today

Why Compliance is the Most Important Part of Business Today?

Description Business compliance is all about how a company obeys all the essential laws and regulations. It refers to how a company manages its business and its staff and how it treats the consumers. HR compliance is adhering to the working standards set by governmental agencies and other authorities. Labour Law compliance is a crucial factor that influences employees. Why is HR Compliance Significant for Businesses? Several business organizations might find it difficult to meet their compliance requirements. But any company must...

Different Functions of Payroll Management

Different Functions of Payroll Management

Regardless of the size or type of business, any organization must pay due attention to its Payroll Management Process, which is crucial in several ways. An accurate payroll management process helps to maintain the employees’ morale and the company’s financial stability. Payroll plays a significant role in elevating employees’ experience and encourages them to be loyal and perform better to achieve their progress and the company’s. Businesses need to have perfect payroll solutions in place. The Key Functions of a Robust...

What to Know While Processing Year-End Payroll

What to Know While Processing Year-End Payroll

At the end of a busy financial year, HR managers have to contend with numerous tasks. One of the ins, ensuring that payroll processing is handled accurately and effectively. The payroll management process however, is far from easy. However, there are effective practices that managers can follow that can ensure that they stay on top of things at the end of the year. Ensure that Employee Documents Are Up-To Date A key payroll process includes the process of maintaining employee records as well...

How Risk is Non-Compliance to your Business

How Risk is Non –compliance to your Business

Compliance is a safety net for any organization. The practice of adhering to rules and regulations, and standards that have been set forth by governing bodies is called compliance. Staying compliant with standards and codes however is no easy task. It is an ongoing continuous process that has to be constantly revisited and reassessed periodically. Compliance is of 3 basic types: Regulatory Compliance:  Compliance with rules that have been set by a regulatory body that is overseen by a state or central...

Get to know the legal requirement for starting a Business

Get to know the legal requirement for starting a Business

Starting a business can be challenging and intimidating for new investors and heads. Ensuring that all mechanisms are in place by the time work gets underway is an essential task that upper management must take care of. In order to ensure that a business runs smoothly, statutory compliance and other tasks must be fulfilled. Structuring a company  Structuring a company is the first and foremost task that must be attended to. Structuring involves how the organization’s hierarchy will be structured and the kind...

Overcoming Obstacles in Payroll Processing

Overcoming Obstacles in Payroll Processing

Processing a company’s payroll is a time-consuming task with little room for error. It encompasses tasks that range from employee documentation and maintenance to taxation and time and attendance. Organizations can look at payroll outsourcing to improve the efficiency of their business. Organizations may look to expand the scope and scale of their operations and business and with it come major challenges. Handling the logistics of expanding an organization’s operations is a task that requires both patience and focus. One of the...

Features of Most Valuable Online Payroll Service

Features of Most Valuable Online Payroll Service

Payrolling has gained immense business importance across all the corporate sectors at present. Third-party payroll has played a dominant role in modern India's business environment for quite some time now. There are so many payroll service providers in this country, but you need to make sure that you avail the service of only the best out of the best. As a business owner, you must be aware of the features that mark the reputation of a good service provider. Also, you must be aware...

How to Mitigate Compliance Risk Factors

How to Mitigate Compliance Risk Factors

In today’s business world of cut throat competition, it is very required from the corporates that they follow certain principles that will help them to mitigate the compliance risks. Compliance is defined as the outcome for adhering to the Government rules. Compliance Risk can involve legal and financial consequences for failing to act according to certain established regulations required for running of a business. Statutory Compliance in India is a very must for every small and big business house and...

Implementing Statutory Compliance in 5 Easy Steps

Implementing Statutory Compliance in 5 Easy Steps

Statutory compliance refers to an organization’s adherence to laws passed by a local, state, or central government. The practices taken up by employees to adhere to these regulations and codes and the management of those practices by higher-ups is called statutory compliance management. Most organizations avoid compliance failure by investing in statutory compliance services, third-party concerns that assess compliance risks and threats in an organization. Findings by a survey by TaxMantra in 2020, have found that in India: Every second startup receives...

HR Management Systems- Improving the Quality of Logistics Services

HR Management System – Improving the Quality of Logistics Services

Logistics involves the process of managing how resources are acquired, stored, and transported to a given destination. Logistics also involves processes such as transportation, inventory, packaging, supplies and sometimes, social security and warehousing. Managing various key components can be taxing for any manager. However, organizations can breathe easy thanks to HR management systems and HR compliance services. The Logistics Sector in India Fortune India reports that according to a recent study, India’s logistics sector is currently valued at USD 160 billion, and...

Why payroll Outsourcing Service is Great for your Business

Why payroll Outsourcing Service is Great for your Business

No Doubt, that payroll function is a very major and strategic part of any business as it has a very deep and intricate relationship with an employee’s welfare. Payroll requires special knowledge and expertise, and precisely for this reason, most of the corporates are willing to go for payroll outsourcing services. This actually helps to reduce cost and also guarantees quality work. However, apart from outsourcing the services, many of the companies bat for automated payroll software. It is purely up to...

7 Ways Outsourcing Payroll Can Help Small Businesses

7 Ways Outsourcing Payroll Can Help Small Businesses

India’s small and medium business sector has given rise to 21 start-ups valued at 1 billion USD, according to the Hurun global unicorn list. India thrives on the back of its small and medium business sectors. The global CoVID-19 pandemic brought businesses to a halt, forcing owners and managers to rethink how to run their businesses and reevaluate strategies for crisis situations. One of the way organizations has learned to adapt by outsourcing their payroll and payroll related tasks to third...

Why HR Compliance is more important for SME's

Why HR Compliance is more Important for SME’s

After a break in business activities due to Covid -19, the businesses are finally trying to get back on their feet. In the changed situation, there has been a lot of paradigm shift in the way to do business. HR Compliance services play a major role in most businesses' success, especially so for the SMEs. The small and medium enterprises sector consists of many sections such as manufacturing, infrastructure, food processing, packaging, chemicals and IT and it is estimated that around...

How Statutory Compliance can contribute to an exponential growth of the Business

How Statutory Compliance can Contribute to an Exponential Growth of the Business

It goes without saying that employees and people are what drive organizations forward. The growth and performance of an organization is entirely dependent on the performance and well-being of its employees. The CoVID-19 pandemic, however, disrupted businesses and the way employees are taken care of. This highlights the importance of statutory compliance in the workplace. Statutory Compliance Checklist Statutory compliance refers to the practice of an organization’s compliance of rules or standards passed with a local, state, or central government. This ensures that...

5 Modern Recruiting Technique

5 modern recruiting technique

Recruiting is another strategic area that has seen a sea of transformation due to the latest technologies. These days, corporate recruitment solutions are backed by cutting-edge technologies to streamline the process in a better way. Many a time, the companies depend on staffing agency for fulfilling their recruitment targets. Staffing companies in India are incorporating new recruitment methods, based on new technologies that are setting new trends and standards for the coming times. With new business requirements and new skillsets, the entire recruitment procedure...

Points to Remember Before Choosing a Payroll Provider

Points to remember before choosing a payroll provider

Today, choosing a payroll provider has become a very crucial aspect of businesses, at least in India. No doubt, it is a very strategic function that involves calculating employee’s salaries and tax deductions. Today, there are some top payroll providers in India, who have the required skills and experience to carry out the Functions. Payroll processing services have gained immense popularity and are widely sought after by the corporates due to their several advantages. However, some points must be remembered before selecting a service...

Is Digital Revolution Influences the Payroll Management

Is The Digital Revolution Influences Payroll Management

The ongoing pandemic has forced organizations and employees to adapt to very different working conditions. However, companies that had already made the switch to technologies such as cloud-based software, online payroll and outsourcing found it easier to adapt to the new normal. Payroll services in India have been a boon for various organizations during the pandemic. The HR digital revolution has well and truly arrived and is here to stay. Organizations are on the lookout for faster, more efficient practices that can...

5 Essential Qualities of Effective Compliance Officers

5 Essential Qualities of Effective Compliance Officers

Compliance is both a necessary and grueling process that organizations have to continuously maintain and follow. Compliance can be both time and effort intensive when done in house. Because of this, most organizations prefer to outsource this process to compliance services. Third party concerns called compliance services take over and oversee all compliance related activities in an organization. These concerns ensure that organizations stay complaint to a set of regulations and standards. Failure to comply can result in penalties and...

How Payroll Outsourcing Can Help Your Organization Stay Compliant and Ethical

Processing an organization’s payroll is a time consuming and tedious task. It can potentially take away resources and efforts of an organization that could be directed elsewhere towards its growth.According to Tholons Top 50 Digital Nations and A. T. Kearney Global Services Location Index of 2019, India is still the best nation to outsource. Payroll outsourcing services in India are still in great demand globally. Payroll Tasks The payroll management process is taken over by these third-party payroll management concerns that...

The EPFO Boom- What to Expect

The EPFO Boom- What to Expect

The Coronavirus pandemic impacted businesses and employees globally. However, India’s GST collection for the month of October was 1.05 lakh crore rupees, a favourable statistic for the country’s businesses. Post the lockdowns and restrictions, India seems to be back on track in terms of reviving the economy. Apart from the manufacturing sector, the e-commerce sector and cloud-based organizations performed well during this period.  The e-commerce sector in particular in the month of September was predicted to cross USD 38...

7 Ways HRMS Can Help In Identifying And Harnessing The Strengths Of Employees

7 Ways HRMS Can Help In Identifying And Harnessing The Strengths Of Employees

Almost every business gives foremost importance to their employees, consider them as their most critical asset. HRMS can be a crucial player in harnessing the strengths of employees. With the growth and modernization of business, HR Solutions in India are increasingly playing a more significant role in business development. HRMS has a very constructive and critical role in reducing the turnover rate and boosting the employees' morale. Online HRMS portals are viral among the employees in the corporates and can be used successfully to...

What needs to be known about Compliance in 2021

What needs to be known about Compliance in 2021

Every year is a year different, and 2021 is no different from the previous year when we talk of changes in HR. Compliance will see some significant changes in 2021 in terms of its implementation in the coming year. Statutory Compliance in HR is a strategic subject matter that is crucial for the successful running of a business. To be precise and honest enough, corporate governance's quality depends upon the successful implementation of Compliance. Compliance teams are facing some challenging times...

Payroll Outsourcing vs. In-house Payroll Management - A Comparative Analysis

Payroll Outsourcing vs In-house Payroll Management – A Comparative Analysis

Today there is undoubtedly a debate going on between Payroll Outsourcing Services and in-house payroll management in corporate circles. Most companies want to control their payroll better as it is a very strategic area of importance. In-house payroll is one where the company has a department that does a specific job. They use software accessible by the staff, and all the information concerning the employees are stored in the system. The payroll team manages to do all the calculations, data entry, and...

How Does the Attendance Management System Help the Employees

How Does the Attendance Management System Help the Employees

Attendance is concerned with the employees in a very intricate and delicate manner. To win the employees' trust, an organization needs to invest in attendance and leave management system. A good attendance management system reflects a healthy work environment, whereas a weak system sets off alarm bells. The attendance management system and payroll management system have evolved, and now we have a more friendly and effective system. The inputs from the automated attendance system help the companies to work in the right direction. Accuracy and...

Talent Management Strategies Predicted in Future

Talent Management Strategies Predicted in Future

Talent management as a concept-originated way back in 1990 when economic liberalisation started spreading wings in India. The talent management system has become part and parcel of daily business activity in the corporates. Today, the staffing companies in India have realised the potential to correct Talent Management Strategies. The burning issue with many companies is that they spend a lot of time developing their talent but spend very little to retain and develop them. A glowing example of a successful talent management...

Key Benefits of Payroll Compliance

Key Benefits of Payroll Compliance

Payroll is a very vital component of any business organization. To run a business successfully, it is necessary to ensure total payroll & tax compliance, the lack of which may draw a penalty from legal authorities. It should be remembered that today’s business environment requires a very good form of corporate governance for the organization to succeed in its mission. The payroll department plays a vital role in protecting the company’s reputation by ensuring statutory compliance. As we talk about the government's laws and regulations,...

Payroll Solutions– A Crucial Component for Retail and E-Commerce

Payroll Solutions– A Crucial Component for Retail and E-Commerce

The retail and e-commerce industry or sectors are among the fastest-growing industries in the world today. A report by the Indian Brand Equity Foundation states that the Indian e-commerce market alone is poised to reach 84 billion USD by the year 2021. India is the fastest-growing e-commerce market and will grow by 1200% in the year 2026. Given the sheer scale of operations, organizations in these sectors will face many challenges, one of them being the management of payroll...

Implementing Statutory Compliance with 5 Simple Steps

Implementing Statutory Compliance with 5 Simple Steps

Any organization is only as good as the synergy between its employees and the higher-ups. For this synergy to deliver on effectiveness, two crucial elements are necessary: corporate governance and compliance. Corporate Governance Corporate Governance implies to a system of rules, practices, and processes that a firm uses to direct and control its efforts. This encompasses almost every tier of management. It includes aspects such as action plans and internal controls to performance measurement and corporate disclosure. Compliance Compliance is the backbone of any organization. Compliance signifies...

Most Effective Ways to Overcome HR Management's Problem

Most Effective Ways to Overcome HR Management’s Problem

HR is probably the most strategic area in the business domain. It can be said to be the engine of any corporate body. Since there will be challenges in the HR Management system, it becomes important to resolve them. For any business, the most important component is its employees. HR Services are often outsourced these days to reduce certain problems faced by a corporate in its day to day operations. Hiring training and paying staff are some of the very basic functions...

8 Ways the Payroll Process is Sabotaged

8 Ways the Payroll Process is Sabotaged

The payroll process is an integral aspect of any organization. However, there are specific ways organizations bring disaster on themselves while handling their payroll. That is why this aspect is outsourced to payroll processing services for better results. Here are 8 ways payroll processing is sabotaged in an organization. Misclassification In a competitive economy, misclassifying workers is a common but costly blunder that managers can make. Employees could be contract employees, temporary hires, interns, or even part-timers. Managers have to ensure...

5 Things Everyone Gets Wrong About Compliance

5 Things Everyone Gets Wrong About Compliance

Compliance is a very basic and fundamental part of any business. Today every business, big or small, must adhere to a set of compliances, and corporate are taking steps to make sure that they get everything right when it comes to compliances. Non-Compliance with regulatory requirements may result in fines and even unpleasant situations. Businesses often seek the help of experts in HR Compliance Services to manage their affairs smoothly. However, be assured that compliance can be a very complicated affair, though...

7 Things to Look Out for While Selecting the Best Payroll Services

7 Things to Look Out for While Selecting the Best Payroll Services

Payroll Outsourcing is an innovative way for organizations to stay ahead of the competition and reduce the burden of handling their payroll. Organizations can outsource the payroll process to payroll outsourcing companies. Payroll Processing involves a multitude of processes that are usually handled in 4 ways: In-house payroll processing where organizations take it on themselves to handle the entirety of the payroll process. A bookkeeper can be an in-house employee, or your company can be just one of their many clients. They are...

Effective Statutory Compliance Strategies for HR in the Manufacturing Sector

Effective Statutory Compliance Strategies for HR in the Manufacturing Sector

The manufacturing industry in India is an integral part of its economy. According to the World Bank’s statistics, manufacturing was responsible for 13.72% of India’s GDP in 2019. Given that manufacturing is responsible for a substantial chunk of India’s GDP, development in this sector becomes essential. Manufacturing industries involve a lot of human resources and potential in the form of its many labourers, employees, and workers. Therefore, it becomes essential for organizations in the manufacturing sector to protect the interests...

How 6 Things Will Change the Way You Approach Payroll Service

How 6 Things Will Change the Way You Approach Payroll Service

In today’s business environment, Payroll services play a very important role in its success. Hence, selecting the right vendor before you resort to payroll outsourcing needs to be a concentrated approach. Let us all accept that it needs time and technique to excel in business. Leading a successful business is challenging in today’s business world. In today’s competitive world, most businesses resort to payroll outsourcing service to reduce costs and better work quality. However, before selecting a vendor, there are certain things that a business...

Recruitment and selection

6 Most Important Element of Human Resource Management

Human Resource Management is the most significant vertical in any organisation. Let's look into some of the core elements of HR for an organization's smooth functioning, increasing organizational productivity, and good company culture. TalentPro is one of the biggest players in Human Resource Management System in India. Armed with a team of experienced and qualified professionals, TalentPro offers services such as Payroll Outsourcing, Statutory Compliance Services, Third-Party Payroll, HRMS, Recruitment, HR Consulting, and much more.

Is Technology Making Statutory Compliance Better or Worse

Is Technology Making Statutory Compliance Better or Worse?

The landscape of business is undergoing a rapid transformation. The current global situation has also been responsible for quick changes in the way organizations do business. Organizations have quickly adapted to newer technologies that can help various aspects of their organization function better. An area that requires looking into is the application of technology in the field of compliance in organizations. Compliance Compliance is a major aspect of how organizations do business. It refers to the process and practice of conforming...

Payroll Technology- 5 Things to Look out For While Choosing the Best One

Payroll Technology: 5 Things to Lookout For While Choosing the Best One

Technology is now a crucial component in any organization, even in the aspect of human resources. Payroll has drastically shifted to more digitized methods in the form of payroll technology and software. Blueweave consulting published a report in August 2018 stating that the Global Payroll & HR Solutions & Services Market is expected to grow over 9.45% during the forecast period 2018-2026. The market is projected to cross USD 43 Billion by the year 2026. Given that there might...

The Next Big Thing in Payroll Services

The Next Big Thing in Payroll Services

Payroll services are very strategic but also a never-evolving process. A payroll service provider not only gives out paychecks but also handles many other vital responsibilities. The latest trends in payroll suggest many exciting facts. The latest technology has impacted almost every sphere of the HR department. The payroll process is no exception. These are the newest payroll trends emerging, and a payroll service would do well to adopt them. Automation of payroll Today is the age of digitalization and automation. Automation has made processes faster and errors...

7 Reasons You Can’t Ignore Compliance

7 Reasons You Can’t Ignore Compliance

Statutory compliance refers to the process where companies adhere to a set of requisite laws and regulations by the regulatory body or entity. Compliance is monitored either by a governmental agency or an independent concern within a particular sector. These entities oversee practices and policies that companies follow while conducting business. The initiatives taken by organizations to adhere to these rules and regulations are known as statutory compliance management. Here are 7 reasons why your organization can’t overlook compliance: Better Work Systems Organizations that...

HR Automation for 2020

HR Automation for 2020

Human resource management is a crucial part of all businesses. Be it sourcing, payroll management, or ensuring that local labor laws are complied with, HRM plays a vital role in companies. Thanks to Technology, as Automation has already taken over, the business will only increasingly automate old processes as time and technology move. Let's see some most significant HR Processes for Automation.

How to Set Your Payroll Services Apart

How to Set Your Payroll Services Apart

According to a report by Beroe Inc, the global market share of payroll services is expected to grow at a steady CAGR of 4.4%. It was also reported that by the year 2022, payroll services are poised to become an 85.6 billion USD industry. The payroll outsourcing industry’s growth, it presents opportunities for entrepreneurial opportunities in the field. New organizations can start and grow into this billion-dollar industry. As is the case with any field, there will always be competition. Payroll...

7 no-fuss ways to figuring out your staffing services

7 no-fuss ways to figuring out your staffing services

The importance of staffing services has increased manifolds in today’s corporate world, given the cut-throat competition that is present in the market. It is a very strategic activity that depends on the success or failure of an organization to a vast extent. Staffing is an on-going process, and today there are lots of staffing agencies that provide quality staffing solutions. A good and sound policy is required to manage and retain a competent and satisfied workforce. Let us see some important ways to...

The Post-Lockdown Guide for HR Managers

The Post-Lockdown Guide for HR Managers

With the threat of the CoVID-19 virus still looming large over the world, businesses are taking measures to ensure that work carries on. However, in some locations, lockdowns have been lifted, and employees have been requested to report to work by their employers. One of the ways that HR managers have managers have managed to handle workloads, given the demands of the lockdown, is by employing HR outsourcing services. Given that the time for a lockdown varies from place to place, businesses...

Quick Steps to Create Talent Strategy for a Successful Business

Quick Steps to Create Talent Strategy for a Successful Business

Talent is perhaps the most important and crucial asset for any company, as without talent, there won’t be any business. Staffing Services have a great role in devising the talent strategy of any corporate body. For any business, it is a priority to develop, recruit, and retain the right people. According to a report by the Harvard Business Review, “talent management” has been named the biggest challenge by 24 high-profile CEOs. Companies are looking forward increasingly towards recruiting agencies for a successful talent strategy. Some...

HR Compliance for SMEs During the Pandemic

HR Compliance for SMEs During the Pandemic

The CoVID-19 crisis has thrown businesses into disarray. Given that different locations have different regulations, HR managers have faced many challenges, including compliance. One of the ways HR managers have managed to deal with compliance-related issues is using HR compliance services. Seven state governments and the Central Government of India have invoked powers and provisions under The Epidemics Act, 1897, in anticipation of issues that may arise because of lockdowns, if there are any in the future. E&Y reports that there...

Top 5 challenges while running multiple payrolls

Top 5 challenges while running multiple payrolls

Payroll is undoubtedly one of the very challenging and very strategic functions of the corporates. At times it can get tricky for those who are involved with providing payroll processes for multiple clients. The payroll management system involves lots of challenges, especially when it involves dealing with multiple clients. Massive Workload This is perhaps the greatest worry for vendors who provide payroll services for small businesses and to multiple clients. The payroll management will have to deal with a continuous flow of work across the board. There will always...

Impacts of Covid-19

As all businesses respond to the threat of the COVID-19, human resources management functions have essential roles to play. Let's reassess the priorities of HR Leaders for the future.

Compliance During the Lockdown – What You Need to Know

Compliance During the Lockdown – What You Need to Know

India has not been affected by the CoVID-19 crisis, and the subsequent lockdown would be nothing more than an understatement. Lives have been thrown into disarray. However, organizations have been proactive in finding ways to make sure their processes run as smoothly as possible. Organizations have still, to an extent, maintained the quality of their work, with their employees working from the comfort and safety of their own homes. However, it has not been smooth sailing as managers have had...

Covid Impact on Working Indians

Covid Impact on Working Indians

Covid Impact on Working Indians The COVID-19 pandemic is having a catastrophic effect on working people. The world of work is profoundly affected by the global virus pandemic. This infographic talks about the impact of COVID on Working Indians.

Top 7 payroll issues for the pharmaceutical industry

Top 7 payroll issues for the pharmaceutical industry

For any industry, Payroll processing services are essential. The pharmaceutical industry in India is facing multiple issues when it comes to payroll. For any business organization, payroll is a very strategic function that requires careful attention and good skills. Some of the major issues faced by the pharmaceutical industry, as far as payroll is concerned: Issues related to Non – Compliance This may be classified as one of the most significant errors across all major industries. Every country has its own set of guidelines to be...

Adapting to the New Normal – A Guide for Managers

Adapting to the New Normal – A Guide for Managers

           The CoVID-19 crisis has affected the way organizations view and do business globally. Companies and employers have had to ensure that their workflow and processes remain unaffected. Newer systems have been implemented that have enabled employees to continue delivering quality output that remains relatively unaffected by the CoVID crisis. There will be a new normal in HR services as well. Managers will have to look at areas that were not paid the same level of attention they...

Do IT Techs Need to Get Back to Campus

Do IT Techs Need to Get Back to Campus?

IT professionals constitute a very vital part of the Indian economy, and no doubt, this COVID – 19 crisis has hit hard in the IT sector. However, the companies are looking forward to workforce management as life turns to normal slowly. The Covid-19 crisis started to hamper the economy from the March-end, and ultimately the IT/ITES companies were forced to offer "work from home" option to their employees. The companies took special permission from their clients, keeping in mind the issue of employee...

Ways for an Effective HR Management in Small Businesses

Ways for an Effective HR Management in Small Businesses

Management of a business can be a challenge to any business owner, especially when it comes to small businesses; it’s even trickier. A proper plan for the future keeps you away from bad financial habits, which may harm your business. Being a business owner, clearly understanding the underlying processes to run a small business such as HR management, is essential. Here are some of the ways that you should know as a small business owner for staying efficient on HR: A Dedicated...

INCOME TAX SLABS 2020 - INDIA

Income Tax Slabs 2020-India

Income Tax Slabs 2020 India Let’s take a quick brush-up of the Income Tax Slabs 2020 in India & explore how the income tax slabs, surcharges, and deduction limits have changed over the past nine years.

Understanding Software as a Service

Understanding Software as a Service (SaaS)

SaaS can be referred to as Software as a service. Here, the user doesn't pay for the Software itself; instead, it can work as a rental service. The user can have the authorization to access it for a certain period and pay for using the Software. In general, a SaaS service provider offers a wide range of services in different sectors like managed payroll processing in HR, etc. It's like just getting your clothes cleaned and dried up without doing it by yourself. Let's...

Administrative Onboarding Burden to an End

Administrative Onboarding Burden to an End

Administrative Onboarding Burden to an End In recent days, onboarding is a significant weakness for most of the organizations that stall new hire momentum and threaten to disengage enthusiastic employees during their crucial first weeks on the job. The infographic below further showcases the burden of onboarding new hires statistically and how to streamline the process:

HR Tools & Tech needs to adopt in 2020

In 2020, HR technology is evolving as a preference for its users do, and ultimately, people can change as a result of promising technologies. These changing trends have a significant influence on the world of HR. Technology is witnessing rapid growth from flexible workers to the increase in the gig economy; numerous tech solutions have risen and automated various processes like recruitment, hiring, onboarding, payroll processing in HR, etc. Let’s find out some HR technologies and that needs adoption in this 2020: Use Employee...

Employee Empowerment Techniques During Crisis

Employee Empowerment Techniques During Crisis

A crisis may crop up anytime in a workplace, and hence it is advisable to empower the staff with certain guidelines or skills which they can effectively use to mitigate the effects of the crisis. Any good HRMS system should take into account the role of its employees when there is a crisis or an emergency. It is imperative on the part of the corporate leadership to understand the value of a trained staff during the moments of acute crisis. A crisis...

Crisis Management - Do’s and Don’ts

Crisis Management – Do’s and Don’ts

The COVID-19 crisis is well and truly here. Many organizations are scrambling to enact contingency plans and initiatives. Here are some do’s and don’ts for managers to help them through this tough time. Do’s Building a Response Team: Building a core response team can help organizations through this period. The team could comprise of a few essential department heads, top management, and key individuals in internal management roles. The crisis response team, with its collective strength, can discuss and implement protocols for...

HR Needs to Stay Ahead of Automation

HR Process Automation

HR Needs to Stay Ahead of Automation Automation is present everywhere, and especially on human resources, its impact is expanding, but it is said that HR professionals are just dimly aware of this trend. Let’s take a tour of some of the essential statistics to keep in mind about HR Automation:

How to create the perfect work from home policy for your company

How to create the perfect work from home policy for your company

A perfect “work from home policy” is perhaps the need of the hour, and also, a corporate should have a contingency plan of work from home for its employees in times of need. Let us see some of how a corporate can create perfect work from home policy. Maybe an HR outsourcing company can play a very major role in this regard. Today almost every major business across the globe offers its employees the option to work from home in times of...

Managing Your Workforce in a Lockdown

Managing Your Workforce in a Lockdown

The world’s economy is currently experiencing a massive crisis in the form of SARS-CoV-2. Apart from the staggering toll it has taken in terms of its victims, and the crisis has also impacted the way businesses and organizations work. Businesses have resorted to more innovative ways of working to keep employees safe from the threat of disease as well as continue work. The implementation of a user-friendly HR management system can work wonders. According to an article by economic times, the total...

How Payroll Management varies for different sectors

How Payroll Management varies for different sectors

Payroll is a very strategic aspect of any business organization, and as such, every industry sector lays great emphasis on its successful implementation. Payroll processing services is a very strategic corporate function these days. Every business, big or small, needs payroll. These days there are some of the best payroll vendors that are available in the market that can work across many industry verticals to provide a good payroll management system as required by the corporates. With business getting diversified, third-party payroll has gained...

Preparing the Workforce for the End of the Financial Year

Preparing the Workforce for the End of the Financial Year

The financial year is a standard one-year time period during which business is conducted. Organizations will have to submit balance sheets and income statements and other financial records to the government of India. The date with which the financial year starts differs from country to country. In India, the financial year or the fiscal year starts from April 1st and ends on March 31st of the next year.  In some organizations, handling year-end financials can become cumbersome for managers. To...

2030 and the Future of the Labour Market

2030 and the Future of the Labour Market

The world’s marketplaces are constantly evolving and it remains to be seen what is in store for the way business and work is conducted. Organizations are beginning to adopt newer practices and trends to stay ahead of their competitors. Key Statistics for the Future Mckinsey, in November 2017, published a report titled ‘Jobs Lost, Jobs Gained: What the Future of Work Will Mean for Jobs, Skills, And Wages.’ The report outlines the future of the global marketplace and how the outlook for opportunities may be in the future in 2030....

Why is a good workplace culture important?

Why is a good workplace culture important?

For a business to flourish and realize its aims, the foremost requirement is that of a good workplace. Good workplace culture is very important not only for an employee but for the employer as well. When we talk about the right places to work, we take into account the compensation paid by the company and its brand value. We still believe that these two elements are sufficient to attract the right talents to the company. However, it is the work...

Payroll difficulties faced today in India

Payroll difficulties faced today in India

Payroll is a very important and strategic part of the HR function as it requires great skills and attention while processing; hence there are certain difficulties associated with payroll. As India has gained prominence in international business, there are also complicated tax and social laws that hold out a challenge to the payroll departments. From numerous complicated calculations and rules to state-level laws, there are plenty of things to be considered by a payroll vendor. Payroll service providers have a...

Challenges faced in handling a Company's Compliance nowadays

Challenges faced in handling a Company’s Compliance nowadays

Businesses face numerous issues every day and every year related to compliance that may impact their businesses severely. The cause of these issues is very stressful, especially for small businesses. In today’s world of cut-throat business competition, every business gives foremost importance to compliance solutions.To be frank enough, in today’s ever-changing landscape of HR laws and regulations, certain parameters such as labour law compliance and statutory compliance management are of immense importance to the businesses as failure to comply with the same can have serious...

The Future of HR Outsourcing in 2020 - What Insiders Say

The Future of HR Outsourcing in 2020 – What Insiders Say

The HR outsourcing industry is an ever-evolving field, constantly adapting newer practices and technologies to keep up with the needs, demands, and fluctuations in the market. 2020 is here, and organizations are rushing to adopt more new policies and trends that could become major catalysts for their growth in the months to come. HR trends govern the kinds of services that will be available to major organizations that will provide these services to large organizations as a cost-cutting measure. Some HR...

15 Reasons to Outsource Your Payroll

15 Reasons to Outsource Your Payroll

Payroll outsourcing has become a practice that most companies are beginning to follow to handle the demands of extremely competitive marketplaces. Some of the reasons why you should consider switching to payroll outsourcing. Time – Outsourcing to HR payroll services takes considerably less time to process the payroll of an organization than if the entire process was carried out in the house. This is of great benefit to organizations as they must hit time-bound targets in today’s competitive marketplaces. Cost to Company - Most organizations...

Ways Technology can redefine recruitment in 2020

Ways Technology can redefine recruitment in 2020

Technology is having a major impact on many aspects of the industry verticals and so also on the recruitment process, which has undergone a sea change with the advent of the latest technology in HR. Today almost everything has changed as compared to the time some 20-30 years back. Workplaces have undergone a sea change too, and mostly everyone has bid farewell to the age-old practices. These days, with the rise of outsourcing culture, Third-party payroll services have gained prominence immensely. Big Data:...

Critical HR Challenges in the Textile Industry

Critical HR Challenges in the Textile Industry

Textiles is a very major industrial sector in the Indian Economic arena. As a vast industry with a large workforce, it is natural to have HR challenges, some of which may be critical. Indian Textile industry employs the highest number of people after agriculture. It contributes 14 percent to industrial production. Overcoming the HR challenges is essential for the industry to succeed and survive. With growing globalization, the textile industry is aware of the need for having capable human resources...

Things to be taken care of while choosing the best payroll outsourcing company in India?

Things to be taken care of while choosing the best payroll outsourcing company in India?

These days most of the businesses in India find it comfortable in outsourcing payroll processing services to different third-party vendors. Let’s consider some of the important things in choosing the best payroll company. As the economy in India grows to new heights, and business gets more and more organized, the need for payroll outsourcing takes a front seat. A payroll management system is an essential component of any business activity. The process is tedious and needs lots of patience and skills and knowledge. A secured...

HR and the Banking Industry in 2020

HR and the Banking Industry in 2020

2020 is here, and the banking and insurance industry will be looking at effectively tackling challenges during the year. As marketplaces are becoming more competitive, here are some of the key challenges that HR professionals in the banking and insurance sector will be facing in the coming year. 1.Managing Intellectual Capital Intellectual capital refers to all aspects that enhance the value of an organization, namely, relationship, human, and organizational capital. Managing intellectual capital with rapid fluctuations in the marketplace and the...

The 2020 Budget – What it Means for Your Payroll

The union budget was presented on the 1st of February 2020 by the finance minister Nirmala Sitharaman. According to several prominent economists, Sitharaman's budget focuses on long-term growth economists. Another key highlight is that the government has introduced an optional income tax regime with lower tax rates. The New Optional Tax Regime One of the most significant changes that took place during this budget was a revision of the existing tax rates based on the salary slabs of employees. While there...

How will automation take over the HR Industry?

How will automation take over the HR Industry?

In this age of automation, every aspect of the corporate world is getting affected, and so is the function of HR. AI is being used to automate HR services, and it is creating positive effects on the HR industry. Though it is not going to replace humans, still let us consider some of the major effects of AI on the industry. One positive side effect is that it is ensuring the best payroll services for start-ups. Helps to move through thousands of applications faster Hiring...

Taxation in 2020 – All That You Need to Know

Taxation in 2020 – All That You Need to Know

Tax is an essential exercise in any nation. The wealth collected from taxation is used in activities that enhance the interests of a nation such as defense, social welfare programs, infrastructure, and so on. India is no exception to this rule, with the income tax department having been formed in the year 1860. Taxation applies to almost all walks of life, including corporate India. Organizations have a different set of taxes and regulations they are obliged to follow as per...

AI and the Future of Hiring

AI and the Future of Hiring

Artificial intelligence becoming an integral part of the world’s marketplace and, indeed, day to day life as well. Businesses have taken to adopting AI in most of their processes to streamline them and focus on other areas for improvement. Cognilytica’s Global AI Adoption Trends and Forecast for 2020 throw up some interesting findings in this regard. The findings show that 40% of respondents would be implementing AI in their organizations by 2025, and 90% would have some in-progress AI implementation...

How to do effective payroll management in startups?

How to do effective payroll management in startups?

In the present day system, startups are an essential part and parcel of the economic system, and eventually, Payroll has a vital role to play. There is a lot of Payroll Outsourcing Companies in India, and startups generally look towards these companies for an effective payroll management system. As the employee count grows, it becomes more critical for the startups for a sound payroll system. Let us see in detail how an effective payroll system can help startups. What is payroll management? Payroll Management means...

Reducing your Workload with Third-Party Compliance Management

Reducing your Workload with Third-Party Compliance Management

Compliance Management Compliance Management refers to managerial practices where all dealings and activities are monitored carefully by companies and organizations. This is done to ensure that they meet a set of requirements, codes, or standards. Failure to meet those imposed standards is called compliance failure. Compliance failure can result in severe damage to the company's goodwill and reputation. Compliance failure in certain severe cases can result in penalties and even criminal charges. Functions of Compliance Management Organizations usually designate a compliance manager...

Payroll Strategies for the Year Ahead

Payroll Strategies for the Year Ahead

According to the Willis Towers Watson Survey that conducted in 2019, salaries in India are projected to rise by 10% in the year 2020, and sectors like manufacturing, chemical, tech, and pharma are expecting salary increases by 10%. Sectors such as energy, financial services, and consumer products will see the highest year-on-year growth. Given that various sectors are primed for growth in the year ahead, the market becomes extremely competitive as organizations will look to make strides to stay ahead of...

Third-Party Payroll in 2020- Less Stress, More Efficiency

Third-Party Payroll in 2020- Less Stress, More Efficiency

2020 is finally here, and with it come a whole new set of challenges for organizations in terms of finding and retaining the right talent. Workplaces are continually evolving to keep with the times and the ever-changing needs of the marketplace. With Glassdoor’s chief economist Andrew Chamberlain declaring that employees would be organizations’ sole focus in the year ahead, the race is on for employers to find, manage, and retain the best talent. A survey by Paycor found that 2020...

What is the importance of having an HRMS?

What is the importance of having an HRMS?

HRMS is an integrated system providing information that is used by the HR department in various strategic decision making. These days’ majority of the corporates have an HRMS portal. It is an important tool by which any company can keep track of all its employees and information about them. The company may choose to store many kinds of vital information such as employee demographics, benefits tracking, and performance-related information. To cover all day-to-day HR tasks and personnel and payroll needs, you...

How to Simplify Your Organization’s Payroll Process?

How to Simplify Your Organization’s Payroll Process?

This blog focusses on various ways to simplify the payroll management system in your organization. Payroll processing is an ever-changing process and a complicated one too. Payroll process, in reality, is a very complicated process, and it generally refers to the administration of employee's financial records, including salaries, wages, bonuses, deductions, and net pay. Payroll processing is, of course, a very time-consuming process. As such, the Indian corporate houses resort to payroll outsourcing to some of the very best payroll processing companies...

A Primer to Payroll Taxes

A Primer to Payroll Taxes

Payroll Taxes are taxes that are deducted from an employee’s salary by an employer. Payroll taxes are usually a small percentage that is deducted from an employee’s salary. These taxes are used for various purposes and to cover programs such as medical insurance and social security for employees. This is done when employers deduct those amounts and send them to appropriate government agencies. This is how employees look out for their employee's interests. The Basic Categories of Payroll Tax Payroll taxes...

How staffing industry in India grown over the past five years

How staffing industry in India grown over the past five years?

The staffing industry in India has grown to an extraordinary level, especially in the area of a third-party payroll service provider. Staffing in India has shown much activity with the growth of business and commerce. Temporary staffing has shown remarkable growth over the last few years. In simple words, the staffing industry is all poised to make a giant leap in the coming years. Over the past five years, the industry has grown at a rate of 20-25% per year, and...

The Rise of Flexi Staffing - Tomorrow's Workforce

The Rise of Flexi Staffing – Tomorrow’s Workforce

Flexi staffing refers to the situation where organizations hire employees temporarily, either for a fixed period or until the completion of a task. These employees can be from staffing agencies or referrals on a contract basis. Flexi staffing is becoming increasingly popular among workplaces to complete short-term projects and goals effectively. Flexi staffing also helps organizations who might require a lot of workforce during a specific period.  Temporary employees who are sent to an organization from Staffing Companies for a specific set periodLeased employees, a portion of the workforce from a...

The Company Law Act Amendment

The Company Law Act Amendment- How it Affects Corporate India

Organizations and companies in a nation or society are subject to scrutiny as well. When organizations or companies are held accountable for their actions according to a set of regulations, it is called compliance. It refers to an organization adhering to a set of laws and rules that governs how it does business. Statutory Compliance takes care of how an organization treats its staff, the payment of wages, and the treatment of its consumers — thus making corporations behave responsibly.  Major Compliances in India: Businesses and organizations must adhere to...

Revolutionizing Payroll Through Artificial Intelligence

Revolutionizing Payroll Through Artificial Intelligence

AI or artificial intelligence is slowly catching on as a viable means of streamlining key HR processes. Using AI could help managers and organizations take key decisions in lesser time periods by providing real-time information and analysis. This extends to all components of HR, such as payroll, recruitment, and talent acquisition as well. According to the Mercer Global Talent Trend Report, 2019, 88% of companies globally are reliant on AI in some form or the other, already. 100% of Chinese...

How Digital Marketing is Changing Recruitment and Staffing

How Digital Marketing is Changing Recruitment and Staffing

In this digital age, digital marketing is gaining prominence even in the field staffing services and is helping to change the face of recruitment and staffing. Nowadays, most of the companies use the services of various staffing services companies for manpower need fulfillment. Digital marketing is changing the face of recruitment and staffing in today’s world. It helps to speed up the entire process. Helps to reach the qualified candidates quicker Digital technology has become an integrated part and parcel of recruitment process outsourcing firms. Today’s...

10 Innovative Hiring Strategies for 2020

Today’s world markets are in a constant state of flux. There is a frantic struggle to keep up with developments across various fields and markets. Aspects such as government policies, trade, international all impact how markets constantly evolve, which in turn will impact the hiring and staffing strategy of major organizations.  As the year is almost at an end and a new one dawns, companies must be flexible yet taut when the time comes to hire the best talent for their firms....

Remote Workforces

Remote Workforces – The Next Big Thing

Cutthroat competitiveness has become stable across markets and workplaces globally. Employers and investors must consistently keep abreast of the competition by turning to innovative strategies that give them an edge. Organizations are attempting to get the best out of their employees as well as stay effective is using remote workplaces.  Remote Workplaces Remote workplaces refer to the concept where employees do not have to be in a physical office space to execute their tasks. Employees that may find it difficult to commute to work or may not be within...

Switching Jobs

Switching Jobs in the middle of the Financial Year? Here’s How to Deal with Multiple Form 16s

These days’ professionals often tend to switch their jobs as if they get better paymasters.  Form 16s is one of the most critical documents for filing income tax return at the end of a financial year. This form contains a summary of taxes deducted by your employer and deposited against your PAN with the government. This form also includes a summary of the total amount that is actually paid by the employer to the employee. Managed payroll services are an important part and parcel of handling form 16s if an...

Payroll Statutory Compliance – The Factors that Drive It

Payroll Statutory Compliance – The Factors that Drive It

Payroll is a process central to any organization. It directly affects how an organization does business, how it treats its employees, its growth, and several other ways. Payroll may refer to not just the list of employees and their records but the task of managing them as well. Payroll processing is indeed a grueling task, one that has no margin for error. The consequences would be detrimental to the organization’s growth. In this regard, most HR managers choose to outsource...

The Compliance Calendar: A Guide to Crucial Dates for HR Managers

The new year is fast approaching, and with it come afresh set of tasks and challenges. Below are some important dates to be taken note. These dates are as per Labour Compliance in India and are consistent across all companies. TDS is tax deducted at the source; This means that employees whoa repaid a certain amount of money will have a small percentage of deducted as per managers can quickly finish this task by using the ITNS 281 challan. The ITNS 281 challan is a tax payment challan...

What is the penalty for not paying payroll taxes?

What is the penalty for not paying payroll taxes?

TAX bills are bad enough, but worse are the penalties involved with the non-payment of the same. There may be many reasons for the penalty to be levied, but the chief reason is either failure to pay the amount or not adhering to income tax return processing and filing. It can be also due to several retirement account inactions or non-possession of health insurance and not paying the full tax money. There are many different ways in which the IRS...

SEZs and Labour Law Compliance: Protecting Worker Interests

SEZs and Labour Law Compliance: Protecting Worker Interests

Special economic zone (SEZs) are a direct consequence of the phenomenon of foreign direct investment (FDI). In simpler terms, SEZs are geographical areas within a country that have different laws and systems than other geographic regions. These zones are designated for trade and business and the overall economic development of surrounding areas. Some of the earliest, most successful SEZs are in China, with the most successful one in Shenzhen province. They have been operational since the 1980s. SEZs in India India set up an export processing zone (EPZ), one...

Payroll Structures in India: All you need to know

Payroll structure is the details of the salary that have been offered in terms of the breakup of different components constituting the compensation. Knowledge of the components is very crucial to the employee as he gets an idea about how much goes into forced savings and what kind of tax exemptions to claim. Components of Pay Structure in India Basic Salary It is the base income of an employee, comprising of 35% - 50% of the total salary. This is determined by the designation of the employee and the industry...

Why Strategic Talent Sourcing is Key to High-Quality Hires?

Why Strategic Talent Sourcing is Key to High-Quality Hires?

Talent sourcing strategies are the first step in getting the best talents on board. It is both time-efficient and cost-effective. Let us see the entire process in a bit of detail. What is talent sourcing? Talent sourcing is a structured method of identifying, engaging, and networking with relevant talent pools of best fit. It is also defined as to finding prospective candidates to generate a steady flow for current and future positions. Talent sourcing strategies are very important for high-quality hires due to the following reasons: High quality hires need analysis based...