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.

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 FutureMckinsey, 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 WorkplacesRemote 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 IndiaIndia 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 IndiaBasic SalaryIt 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...

Special Compliance Requirements for Government Contractors

Special Compliance Requirements for Government Contractors

Government contracts, as the name suggests, are those undertaken or signed by state or central governments. They are initiatives signed for various purposes such as construction and maintenance, manpower and staffing, IT-related projects, and so on. Government contract compliance is a constantly evolving challenge While one of the parties in the contract is the government, the other part is typically an organization that carries out the activities in the contract. They are called contractors. Types Contracts in India are of 4 major types:Fixed...

Payroll Fraud: Prevention is Better Than the Cure

Payroll Fraud: Prevention is Better Than the Cure

Payroll processing services play a significant role in the running of any organization. The overseeing of processes that are involved in the payment of wages to employees is one of the HR department or manager’s chief objectives. Of course, when it comes to payroll, it encompasses various elements. Some of these include:Tax computation and deduction Benefit awards Gross wage estimate and award Employee record upkeep.In most cases, organizations outsource most or all these processes to payroll outsourcing services. These third-party concerns take...

Is your Payroll Statutory Compliant?

Is your Payroll Statutory Compliant?

This Blog deals with the subject matter, whether the payroll system that you are using is statutory compliant or not? It is very must for the companies to use a statutory compliant payroll system. What is Statutory Compliance in HR means? Statutory compliance in HR, refers to the legal framework within which the organizations must operate. Every country has many laws to which the companies must adhere to. A lot of company’s efforts and resources often go into ensuring compliance with...

10 Reasons Why Executive Search is the Most Effective for your company

10 Reasons Why Executive Search is the Most Effective for your company

Here are some important reasons as to why Executive search firms are just so necessary for your company. This blog details some of the essential criteria that still make these firms so relevant. Recruiting the best candidates is not easy; it is labor-intensive, complex, and requires people skills and business expertise. Here are some reasons as to why you need to hire an executive search firm.Recruiting a senior executive candidate: It comes to hiring a senior person; it is just not easy; it...

How to Identify and Overcome Challenges of Payroll Processing

How to Identify and Overcome Challenges of Payroll Processing Services

Today payroll processing services are an essential HR activity of any organization. This post deals with challenges of payroll outsourcing and the ways to overcome those challenges.   Compliance:   For a business that runs in several places, ensuring a standard payroll process with respect to local federal bodies becomes a challenge. Good corporate governance is a must for companies, and not meeting legal obligations will cost the company a high cost. An ideal payroll process is generally formulated by keeping the industry standards...

The Pitfalls of Manual Payroll Processing

The Pitfalls of Manual Payroll Processing

According to an online report, 25% of American organizations still rely on traditional paper and pencil methods when it comes to calculating and processing payroll. Payroll includes processes such as the maintenance of employee records and the calculation of salaries/ wages, processing taxes, and so on. Some organizations that have just started tend to go in for manual payroll process as a way of keeping costs down instead of looking at payroll outsourcing services. Manual Payroll: Manual payroll typically is seen...

Data security – Major Concern in Outsourcing

Data security – Major Concern in Outsourcing

The data security risk is a massive worry in today's outsourcing arena. Almost all the companies are lining up to outsource their HR functions, let's have a look at some of the concerns. With the advent of IT, outsourcing has become a big business trend as this helps firms to concentrate on their core business. Data Security risk is a preeminent concern for most companies that depend on outsourced services. Cyber Security is a significant issue in the IT department of any company....

What Happens When Small Business Ignores HR Issues

This Blog deals with HR Challenges that small business often faces. Let us see the far-reaching consequences if a company ignores HR issues and that too if it is a small business. The following are some of the very far-reaching consequences for a small business if they do not give adequate attention to the HR issues facing the company. HR factors are a very strategic issue for any company, whether big or small; however, the small businesses are hurt more...

HR and Mobile Technology – The Future of HR

HR and Mobile Technology – The Future of HR

Mobile Technologies and Business: Businesses are becoming increasingly competitive and must look at innovative strategies to stay ahead. One of them is the sudden reliance on smartphones and related mobile technologies. Given that India is the second-largest manufacturer of phones, almost 30 million people use smartphones. Smartphones have seeped into the world of business as well, with businesses taking advantage of the capabilities of a smartphone. As of 2018, India became the world’s fastest-growing market for mobile phone applications. The ease...

Trending Recruitment Strategy 2019: Inbound or Outbound?

Trending Recruitment Strategy 2019: Inbound or Outbound?

Recruitment Strategy has changed over the years. This Blog tells us about some of the best recruitment strategies being implemented in 2019. Let us have a look. 2019 is turning out to be the year of inbound recruiting. Let us understand what inbound recruiting strategies are. It leverages the way people look for jobs today. It recognizes the employment decisions that can lead to outstanding results for everyone. There are three main reasons why inbound hiring will be the leading recruitment strategy...

Overpayment- A Payroll Oversight. What to do when it Happens

Overpayment – A Payroll Oversight. What to do when it Happens

Salaries and HR A salary is a fixed amount of money given to an employee for services rendered to an organization or business. Salary is paid at regular, fixed intervals. Salary or payment of wages comes under payroll, a critical function of human resources. The HR department is also responsible for the structuring of salaries. Salary structure is the breakup of various elements that go into the making of wages. It includes aspects such as HRA-house rent allowance and LTA- leave...

HR Technology and Outsourcing – Synergy and Progress

HR Technology and Outsourcing – Synergy and Progress

Workplaces are now evolving and becoming leaner to keep up with the impact of competition and globalization. According to a report by Grand View Research Inc., 33% of millennials are now in management positions and have brought in new perspectives and initiatives to workplaces. This includes the field of HR processes, development, and management, as well. There is a greater reliance, more than ever, on technology, which has led to the growth in the field of HR technology. HR Technology  HR...

Staffing During the Festival Season- All That You Need to Know

Staffing During the Festival Season- All That You Need to Know

The Festival Season Festival seasons are now a significant part of any industry. It affects almost every industry as well as the amount of business a company does. It affects productivity as well as how organizations look at hiring workers during a potentially stressful time of the year. Festival seasons also see a massive upsurge in consumer demand. The holiday season is also an opportunity for companies to push marketing and sales and market more aggressively during this time. Many companies...

Your Tax Return was rejected. What Now?

Your Tax Return was rejected. What Now?

Have you ever faced a situation where your ITR was rejected? Yes, ITR can be rejected by the Income-Tax department. Let’s see how to avoid ITR Rejections. Why the tax returns get rejected? Your tax return gets rejected if your ITR doesn’t reach the CPC within 120 days of e-filing or you fail to e-verify it. It may also get rejected if you send your ITR without a proper signature. It may get rejected if all the information is not filled in...

Employee Life Cycle Management

Employee Life Cycle Management

The employee life cycle is the different stages that an employee goes through during their time in an organization. This Blog gives an overview of employee life cycle management. Recruitment The first step in employee life cycle management starts before the organization even employs them. Hiring the right people is a very crucial part of business development. HR must have a strategic recruitment process for the same. These are some of the factors that you must keep in mind for attracting...

Common Payroll Errors – What You Need to Know

Common Payroll Errors – What You Need to Know

Payroll can either refer to a list of employees that are currently employed in an organization or the amount of money that are paid to the employees. It includes aspects such as attendance, tax returns, HRA, and LTA. However, no system is perfect. Payroll Errors and the Importance of Focus: Payroll Errors happen despite the best of efforts. They are inaccuracies or errors that happen in the payroll process. Payroll errors and mistakes happen mostly due to human error. Therefore, it...

POSH Compliance – Creating Safer Workspaces

POSH Compliance – Creating Safer Workspaces

POSH: POSH is an acronym for the prevention of sexual harassment. This act was passed in 2013 thanks to the efforts of the Vishakha group who battled for the cause of safer workplaces. Now organizations have systems in place that exist for grievance redressal regarding workplace sexual harassment. The POSH act was published in the Gazette of India as Act No. 14 on December 09, 2013. The Indian Ministry of Women and Child Development declared December 09, 2013 as the effective...

HR Outsourcing - An Essential Business Strategy

HR Outsourcing – An Essential Business Strategy

HR outsourcing is one of the essential business strategies of the day. Most business owners agree that their employees are their most valuable assets. Hence most businesses are outsourcing their HR functions. Let us have a look at some of the significant benefits of outsourcing HR functions. Cost Savings Cost savings is one of the major benefits of HR outsourcing. A fully operational HR department requires office space and highly trained and experienced staff. The small businesses can’t simply afford this expense,...

Consequences of GST Non Compliance

Consequences of GST Non Compliance

Usually, GST returns comprise of two types of returns – periodic and annual returns. The periodic returns comprise of monthly and quarterly returns, and these are for transactions during the month or the quarter. The annual return is for reporting the summary of the periodic returns filed during a financial year. Annual GST return has a special significance as it is supposed to be the last return of the year. Who is required to file an annual return? It generally covers all...

Importance of Filing your Business Tax Returns

Importance of Filing your Business Tax Returns

ITR filing is perhaps one of the most fundamental activities in one’s life now, especially if he/she is a well-placed professional or a businessman. Let’s look at the benefits of filing returns. Saves from prosecution The most significant advantage of income tax return filing is that it helps you to avoid some severe punishment. Late filings can cut into your profits. Filing returns on time saves you from a lot of physical and mental hassle. You can eventually focus on your...

HRMS vs. Personnel Management

HRMS vs. Personnel Management – An Overview

Human Resource Management system is the most comprehensive and involved HR solution. It includes all the features of HRIS and HCM systems. This is used widely in all corporate sectors.Let us have a look at some of the critical features of both HRMS and Personnel Management.HRMS – In simple terms, it is a combination of systems and processes that usually connect human resource management and information technology through HR software.Personnel Management: It is the traditional approach of managing people in an organization. It focuses on personnel administration, employee welfare,...

CSR Compliance – What you should know about CSR Rules & Non-Compliance?

What is CSR (Corporate Social Responsibility)? Any industry or business changes environments, societies, or communities. They provide livelihoods, raise living standards, and contribute to the GDP of a nation. Corporate Social Responsibility (CSR) is an initiative or a model where organizations become socially accountable. These are initiatives focused on improving the state of society. CSR benefits businesses by building their brand. It also projects the message that they engage in worthy causes and make a difference in society. Most of these...

An Outsourcing Guide for Startups

Why outsourcing is Important? HR is the backbone of any organization. It lends structure and support and manages an organization’s most valuable asset: the people. But there are instances where specific vital processes can be and are outsourced. For instance, startups may look to outsource certain key processes due to cost-cutting and the time and effort needed to complete them. In scenarios like these, organizations may choose to outsource key processes. HR outsourcing is the act of delegating certain key HR...

10 Important Compliance Issues that an HR Must be Aware Of

HR is a very strategic department in any organization. Legal compliance has a considerable role to play in the functioning of HR. Every HR professional must be aware of the legal modules under which he has to function. Violating Legal compliance may attract punishment for the organization from the government. As one goes up the ladder in the HR profession, knowledge about legal compliance becomes very necessary. Let’s say that you are drafting a leave policy for a company, but fail...

CLRA Compliance- Its Role in Fair Business

CLRA Compliance: CLRA compliance stands for the Contract Labour Regulation and Abolition act. It was passed in 1970 to raise the standard of working conditions and prevent exploitation of employees. The CLRA Act applies to establishments or organizations that employ twenty or more people. These people must be employed on any day of the last twelve months as paid workers or employees. The act concerns the principal employer of the organization and to the employer who employs or employs 20 or more people,...

IT Staffing Services

IT STAFFING: IT is a highly competitive field and even large organizations must play catch-up at times. Technology is a major component in a business’ success and there will always be a need for a skilled workforce. In cases like these outsourcing IT staffing is the way to go. How IT staffing is usually carried out: IT staffing is a process outsourced by companies to hire the best talent. IT staffing companies or agencies are concerns that recruit talent based on...

Automated Performance Management System – A Must for Businesses

A good Automated performance management system is very must for any business to grow and succeed. In today’s world, businesses are fast-paced and move quickly with their strategies and goals. The performance system being followed in a company should be agile enough to adapt quickly to the changing business priorities and should be able to provide employees with a clear understanding of how they can support the corporate vision through their work and individual goals. Goal alignment is a...

How Recruitment Agencies Help You Avoid Bad Hires

For any company, recruitment is a primary strategic function. HR managers often take a chance whenever they recruit a new person. Even if a new recruit is hired based on his excellent candidature, he may not turn out to be the right candidate. Sometimes People unexpectedly turn out into bad hires after they sign on the dotted lines. Manpower recruitment agencies help you to avoid bad hires by virtue of their professional insight and the desired skills that they possess....

Payroll Compliance – An Ultimate Guide

Payroll Compliance is defined as the set of processes that go into the generation of payroll and other related procedures. It is the effective calculation and distribution of funds and following of related compliances. It is a must for all businesses. It ensures that all employees are treated and compensated fairly by management. Company’s managers and concerns that deal with payroll must be proficient in related laws and regulations. To understand payroll compliance, we must first understand the aspect of...

Strategic Staffing Solutions- A Key to Your Talent Needs

Many companies choose to outsource certain administrative or HR aspects. It is a practice that gained value owing to a highly competitive industry. Many companies make use of the processes of manpower recruitment outsourcing to carry out those specialized tasks. One of the most critical processes in the recruitment process outsourcing. Companies choose to delegate the staffing solutions to third parties or vendors through the process called manpower recruitment through manpower recruitment agencies and services. Staffing Services/ Agencies: Staffing services...

Payroll Outsourcing Leads To Better Tax Reporting

Payroll outsourcing is the order of the day with the corporates. Outsourcing payroll leads to various kinds of benefits for the companies. Saving cost and time are the prime reasons for outsourcing. Also, outsourcing payroll services leads to numerous tax benefits. Given the complexities of India’s tax system, employers with global employee populations may choose to outsource the process to gain the advantage of third party expertise. Certain tax-free allowances are allowed to employees such as rent, transport, medical, meals,...

Corporate Governance – Its Role in Effective Business

The Need for Corporate Governance: Corporate governance exists as a framework for the workings of an organization. One of the main ways that corporate governance helps organizations is that it takes care of conflicts of interests within an organization and aligns everyone’s goals and interests to work for the betterment of the organization. It also clearly states the rights and responsibilities of those involved in the day to day workings of the organization. Elements of Corporate Governance: The major elements...

Compliance Audit - A Must for Businesses

Compliance Audit – A Must for Businesses

What are Audits and Compliance? Compliance refers to a company’s conforming to a set of rules, regulations, and standards. They are usually set forth by one or more governing bodies. This is to ensure fair business practices and transparency. There are benefits like avoiding legal or criminal charges, higher productivity, and better public perception. Many companies have taken to adopting compliance as a growth strategy as well. In order to check a company’s compliance, a compliance audit is undertaken. Types of...

Top 10 Benefits of Employee Self-Service Portal (ESS)

Top 10 Benefits of Employee Self-Service Portal (ESS)

Top 10 Benefits of Employee Self-Service Portal (ESS) What are ESS Portals? HR managers face a lot of challenges in a constantly evolving job market. Adapting to innovation, dealing with a large workforce, and managing expenses and records are some examples. In instances like these, employee self-services exist to reduce the burden on companies and managers. Employee self-service software or employee self-service portal programs are software that allows employees to access their HR information. Employees are given profiles and login credentials....

Top 7 Manpower Recruitment Mistakes and How to Avoid Them

Top 7 Manpower Recruitment Mistakes and How to Avoid Them

There is no guaranteed process for a flawless staffing process. Only if you have proper knowledge of the usual faults that occur, then you can have a chance to avoid them. Manpower Recruitment is a very strategic part of any business, and hence, it should be taken in the process to make it free of errors and get the best possible candidates. Let us look at some of the common mistakes that happen in the Manpower recruitment processes. Inaccurate job description Describing...

Contract Staffing – Its benefits to employers

Contract Staffing – Its benefits to employers

Contract Staffing is an excellent opportunity, and employees learn a lot on the job, but the misconception creates a feeling of insecurity in the minds of the employees. The following are the major types of Contractual Employment: 1)    Part Time Contract 2)    Fixed Term Contract 3)    Agency Staff 4)    Consultation on Freelancing 5)    Zero Hour Contract 6)    Voluntary Employment Benefits of Contract Staffing Services Contractual staffing offers plenty of benefits to both employers and employees. Let us have a look at some of the opportunities that contractual...

Banking’s Hidden Hero – Back Office Outsourcing

The banking industry is the sector of the economy focused on holding onto and generating wealth with customers’ assets and regulating those activities with government agencies. It is a highly competitive, volatile field and has undergone various metamorphoses to be the field that it is today. Let's look at how bank office outsourcing helps the banking sectors. According to the Banker’s Top 1000 Banks ranking for 2018, the total assets of these banks were worth USD 124 trillion and had...

How IT Staffing Companies Helps the Banking Industry

How IT Staffing Companies Helps the Banking Industry

Why do Banks Outsource Staffing? The banking sector focuses on holding and investing assets to create more wealth and regulate those activities by government agencies. Today it has evolved into a highly competitive industry that has to adapt to a constantly changing market and cater to clients more effectively. There has been a higher demand by the banking industry for better systems and software to handle their workload as well as a demand for individuals that are competent or proficient...

The Role of Staffing Agencies on Small Business Enterprises

Staffing Companies are now an essential part of the recruiting process, especially for small business enterprises. By taking the help of the staffing agencies, small businesses are able to keep constant needs on their staffing needs and also cut operational costs. Let us see some of the advantages being derived by small enterprises as they involve the staffing companies for their manpower needs. 1)    Employees with Specific Talents: Staffing services offered by the staffing agencies in India are a boon...

Resume Fraud – It’s a Criminal Offence

In simple term resume, fraud means discrepancies in the resume of a job seeking candidate, where the information is given are forged purposely with the sole aim of achieving the said job. It is the manipulation of data or can be a complete falsification of the information. Cases of Resume fraud has been reported not only in the junior and middle level but also in the senior levels as well. The corporates these days are taking the help of...

Recruitment Process Outsourcing – RPO Services

What is Recruitment Process Outsourcing? Recruitment Process Outsourcing (RPO), is a business process where a company outsources the recruitment function to the third party recruitment agencies. Recruitment is one of the HR department’s key functions that is initiated and overseen by the management of an organization. It is the process of searching and hiring the most competent candidate from within or outside an organization for a position, in a timely and economical manner. The process includes the analysis of a...

How to Choose the Right Staffing Service for Your Business

Staffing as a practice is essential to most organizations and is usually carried out by management. Staffing in management refers to the method of selecting qualified and eligible applicants in an organization or firm for relevant positions and roles. It also involves recruiting qualified candidates after evaluating their knowledge, skills, and attitudes. It is an integral function in any organization as it directly ties into the output achieved by an organization. There are different types of staffing involves permanent...

Payroll Migration – A Step-by-Step Guide

Payroll traditionally referred to the total amount to be paid to workers or employees during a specific time period. Today the definition includes the list of employees to be paid within a specific time period, the amount to be paid to those employees and other details pertaining to the employee including their designation, department, salaries, bonuses, incentives, and leaves. Managing the payment of wages within an organization to its employees is called Payroll Processing. Traditionally, organizations handled the Payroll in-house....

Compliance Failure – A Big Mistake

Be it a play school, college, or a business; there are rules and regulations. The other word is compliances. As a parent, student, entrepreneur, or an organisation, the essential term or condition is that you need to comply with compliances. There are compliance requirements for companies in India that are not negotiable. Failure to comply is the biggest mistake anyone makes, and by not adhering to the law of the land, you are taking a huge compliance risk. TalentPro...

Why attendance and leave management tracking system are crucial for Small & Medium business?

Most of the small businesses work on the belief that initial work is important, and once due revenue pours in, everyone will be rewarded. Sometimes the employees need to put in arduous labor, and they will be exhausted, if not their lives are made more comfortable. Taking care of the employee’s attendance and leave management tracking system is very important and certainly a very major step in this direction. Attendance systems based on paper time cards, registers, buddy punching,...

Importance of Human Resource Management in the Healthcare Sector

In recent times, the renewed importance of Human Resource Management is being felt in the healthcare sector. To enhance collaboration and to enrich organizational culture, it is very important to focus on legal and ethical issues, safety and welfare of employees and motivation and support activities. Healthcare Sector is a place wherein you may come across increased diversity of cultural backgrounds of both patients and employees. A strong Human Resource department is needed to pay closer attention to the...