Human Resource Management Software | Blog | 247HRM | 247HRM https://www.247hrm.com Tue, 09 Jan 2024 07:55:35 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.25 https://www.247hrm.com/wp-content/uploads/2016/08/cropped-24-hrm-32x32.png Page not found – 247HRM https://www.247hrm.com 32 32 Streamline Operations with Cutting-Edge Employee Management Software https://www.247hrm.com/2023/12/18/employing-employee-management-software/ https://www.247hrm.com/2023/12/18/employing-employee-management-software/#respond Mon, 18 Dec 2023 06:41:12 +0000 https://www.247hrm.com/?p=10155 Introduction 

As you’re aware, there is a tide of digital transformation in today’s world. Organizations want to embrace new digital tools and they are also ready to engage in new processes to stay ahead of their competitors. The attendance and payroll software has made it easy for companies to track employees’ productivity even when they are not on their systems, facilitating efficient operations.

This is what all leaders are doing. But what about the employees? Are they also satisfied with these digital changes? Is there any kind of resistance towards such software? This is where employee buy-in comes into play. 

So, what exactly is employee buy-in? It is when employees commit to a company’s aim or goals. 

They actively involve themselves in the work and demonstrate commitment to the company. It shows through their actions and overall attitude. This is how you retain employees and drive change. 

The question is – How to employ employee management software to enhance employee buy-in? We will explain that through this informative post. 

What Is Employee Buy-in? 

Before we tell you a little more about the importance of employment monitoring software, we want you to know what employee buy-in is. 

Employee buy-in is when the staff understands that a change or a decision is essential for the business to succeed. The staff should accept the change to move forward. This way, they will be engaged with the company’s aim to reach their goals. But there is an issue – not all employees accept this change. Some may not be open to all aspects of the change. So, the company has to be clear about its objectives and reasons for using employment monitoring software. 

If you ask us, employee buy-in is more than just compliance. It is when employees and the employer share a vision. They collaborate and overcome all the challenges that come their way. 

And, yes, as a responsible employer, you have to let the employees know their work hours are being tracked. And even the payroll is tracked through the software. In case, the employee has any issues or privacy concerns, they should feel free to talk to you about it. 

Understanding The Importance Of Employee Management Software 

Times have changed, and most companies have embraced the remote work model. But how do you track employee work hours and whether all of them are productive? You have special software to track all of that. Monitoring employee work habits can benefit the organization. But an employee may start thinking it is surveillance. They might even have privacy concerns.

Change might be good for your business, but for someone who is not used to new digital concepts, it is crucial for you to explain the benefits and reasons for introducing employee management software. 

As a business, you have to prioritize buy-in on different levels. The employees and managers should see it in a positive light. Since you are the business owner, let the management know that the management software should be used only after notifying the employees and the stakeholders about its use. 

You have to let the employees know the major reasons for monitoring their activity and using specific software for the same. When you outline the benefits and objectives, even the employees feel like they are a part of the system. They will commit to your company fully when the communication is crystal clear. For example, your reason for using employee management software could be tracking the work hours of the employees. You have to know if the remote employees are working during work hours and not absconding from their system. How else would you know if an employee is being productive? But do not do it secretly because you need your employees’ trust!

It is essential to create an environment where the employees understand the importance of attendance and payroll software and how it works. 

You should reassure the employees that the management software does not mean excessive control. It is a way to track progress and work towards a collective goal. If you can explain this clearly to your employees, it will help them understand the perks of employee management software. 

Concluding Thoughts 

The idea is to ensure the employees are comfortable with the new digital changes. They should be able to embrace the employee management software and it should not be a solo decision. Not everyone is familiar with the new software, but let the employees know that it is meant for the company’s success. 

Educate the employees on how the attendance tracking software will leave a positive impact on the company. It will help all the employees stay productive and not get distracted during their working hours. If companies start prioritizing buy-ins, they can unlock the true and full potential of their employees. 

Every company owner wants growth and success. And an employee management software can truly help them realize this goal

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Optimize Operations with Payroll Outsourcing Services in India https://www.247hrm.com/2023/12/18/leveraging-payroll-management-firms/ https://www.247hrm.com/2023/12/18/leveraging-payroll-management-firms/#respond Mon, 18 Dec 2023 06:35:10 +0000 https://www.247hrm.com/?p=10151 Introduction

To expand your business operations, having your employees concentrate on business activities that improve productivity is essential. However, ensuring that your employees get paid regularly and that all payroll-related compliance requirements are met is critical to retaining employees and becoming a niche player in the industry. According to experts associated with payroll outsourcing companies, most SMBs prefer to outsource their payroll management requirements as this can reduce the burden on their employees and improve their productivity levels. Here are some of the reasons behind opting for payroll outsourcing.

1.The Strategic Value of Outsourcing Payroll Management  

From the perspective of your company, the primary strategic value will be ensuring that your employees do not have to spend long hours on administrative work and can spend more time developing growth strategies. Payroll management requires significant expertise, and if you want to ensure that this is completed without any technical or legal hitches, you must have a thoroughly trained team. If you opt for payroll outsourcing services, you will find that this adds to the overall value of your company as it prevents you from maintaining a team for this administrative work and ensures that the payroll management is done correctly.

2.Cost-Efficiency and Compliance

When it comes to cost-efficiency and compliance, you will find that outsourcing your payroll requirements is helpful in both ways. It is cost-efficient because you must spend money on training your employees or maintaining a team for payroll management. This can be cost-saving for your company, and your employees will have more time to work on improving your firm’s business operations.

Payroll management requires significant legal knowledge as it can help save taxes and ensure your employees receive the necessary tax benefits. When your company gets a tax benefit, you can guide your employees regarding the investments they can make to earn additional tax benefits. For this, you must know the local payroll compliance requirements. Thus, by outsourcing your company’s payroll management needs, you can make the structure cost-efficient and adhere to the laws of the region and country.

3.Employee Satisfaction and Retention

When you hire a payroll outsourcing company to evaluate your employees’ bonuses, incentives, and leaves, you will find that employee satisfaction and retention will improve. The primary reason is that you now have a company dedicated to managing the payroll and the incentive structure your company wants to follow. The chances of missed incentives or bonuses will reduce significantly. As employees feel appreciated, you will find that employee satisfaction and retention will improve. If you want to handle it in-house, you will only overburden your staff with additional administrative work. It might not be acceptable for your employees if they miss out on giving the incentive or bonus due to a human error. When you outsource your payroll management requirements, you will find such errors will hardly occur.

4.Ensuring Data Confidentiality and Compliance

One of the primary reasons for outsourcing your payroll management requirements is the data confidentiality and compliance requirements. When you opt for payroll outsourcing services in India, you can be assured that the company will conduct regular security audits to ensure that the stored data is safe. You must conduct regular audits to protect your employees’ data, such as their names, addresses, tax information, bank account information, and salary information. Such audits are necessary for data confidentiality.

Regarding meeting compliance requirements, the company will keep updating you about any changes in the tax laws and whether you must pay any additional taxes to the government based on the existing database. Adhering to the compliance requirements is essential so that you do not face any legal hassle in the future, and this is essential when you want to expand your company overseas. 

5.The Role of Payroll Management in Expanding Your Business Horizon

Payroll management is essential if you are planning to improve your business operations. You will find that by outsourcing your requirements, you have employees who are better equipped to concentrate on expanding your business. When you grow your business across borders, payroll management is essential because you must meet the country’s compliance requirements. Here, you need help understanding the existing tax laws of the country. Similarly, the rules implemented by the local authorities can be different, and you must adhere to both while disbursing the salaries and incentives.

Conclusion:
If you are the business manager of an SMB, you must reduce the burden on your employees and make it easier for them to concentrate on activities that can help make your company a recognized brand. One of the easiest ways to do this would be to reduce the administrative workload and help them improve efficiency. Keeping this in mind, when you outsource your payroll management requirements, you will find that the burden on your employees has reduced, their performances have improved, and your company’s productivity has increased.

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The Art and Science of Calculating Employee Costs and Value: Unveiling the True Value of Your Employees https://www.247hrm.com/2023/09/11/the-art-and-science-of-calculating-employee-costs-and-value-unveiling-the-true-value-of-your-employees/ https://www.247hrm.com/2023/09/11/the-art-and-science-of-calculating-employee-costs-and-value-unveiling-the-true-value-of-your-employees/#respond Mon, 11 Sep 2023 03:34:30 +0000 https://www.247hrm.com/?p=10124 What will help you determine the right salary and other facilities your team members deserve? When you value your employees, you’ll not only foster a positive work culture but also build trust in your organization. As a result, your employees will be more likely to feel invested in the success of the company and motivated to work hard and achieve shared goals.

Don’t overlook the below pointers while you estimate the appropriate cost of hiring an employee and make the right valuation of a team member.
Beyond the Numbers: Exploring the Multidimensional Value of Employees:
The new-gen workforce focuses more on self-development, self-growth, and gaining better experiences. They would rather choose a positive work culture that will encourage both professional and personal growth. 

Apart from possessing excellent technical skills, employees with non-technical, soft skills are hogging greater importance. Communication skills are critical for building strong relationships with clients and colleagues. Being able to empathize with others, negotiate effectively, and give feedback constructively can make a huge difference in the workplace. Additionally, leadership skills such as decision-making, problem-solving, and goal-setting are also important for driving organizational success.

Unfortunately, many firms overlook the importance of soft skills. 

  •   Effective communication
  • Team collaboration
  • Time management
  • Empathy
  • Network building
  • Critical thinking
  • Self-awareness
  • Problem-solving
  • Leadership
  • Influencing without authority
  • Interpersonal or people skills
  • Listening skills

However, to improve efficiency in the workplace, technical and non-technical skills are required. So, encourage your team players to develop these soft skills to boost self-growth and the company’s success.
Unleashing Potential: Identifying and Nurturing Employee Talents:
Every employee is different and has distinct talents. Each has unique strengths and weaknesses, which team leaders should know of. You should identify the high-performing workers possessing the required capabilities and skills to get the job done. It is often misunderstood that members who have performed well in the recent past shall continue to perform in the near future. Circumstances change and so do people. Performance is linked with effort, capability, market, and resources. Regular check-ins are needed to understand the challenges that the employee faces and plan well to render support. Identifying the developmental needs and filling the gap is critical. Top performers are always interested in developing their own world, both on professional and personal grounds. To avoid losing such high-performing team members, you should nurture their skills. The last thing you would want is to lose your best performers to your competitors.

  • Deliver high-quality work.
  • Make smart decisions regarding different projects and team players.
  • Innovate and implement new ideas.
  • Understand the core business needs.
  • Grab skill and knowledge development opportunities.
  • Nurture professional relationships
  • Meet the employer’s expectations.

 

Quantifying Impact: Metrics and Methods for Assessing Employee Value:

       A common process of estimating the exact worth of an employee is by dividing your company’s net income by the total number of employees. Furthermore, here are the vital employee quantitative performance metrics to build the best employee appraisal system.

  • Employee benefits
  • Salary and other allowances
  • Absenteeism Rate
  • Overhead expenses
  • Upskilling, training, and mentoring costs
  • Recruitment costs

Besides the qualitative metrics, consider these qualitative metrics, too, while evaluating employee costs.

  • Work efficiency
  • Quality of work
  • Learning ability
  • Teamwork
  • Number of sales
  • Adherence to timelines
  • Employee experience
  • Work-life balance 

Investing Wisely: Balancing Employee Costs and Productivity Gains:
While evaluating an employee’s value, ensure there is a good balance between the employee’s cost to your company and the productivity gains you are receiving. Assess each employee’s qualitative and quantitative metrics to determine the correct worth that will be suitable for both the team player and the firm.

Also, keep track of the regularity of your employees. Track the number of leaves taken over a period of time using an efficient online attendance management system. You will need this data while determining the productivity gains and quantity of work received from an employee. So, invest wisely.
Empowering Growth: Strategies for Enhancing Employee Value and ROI:
Focus on retaining your high-performing employees based on the key performance indicators and encourage self-growth. Measure the intangible assets, such as willingness to “walk an extra mile” to get the job done, punctuality, meeting deadlines, and positive attitude towards work.

Here are some strategies to retain high-performing employees and increase their value and business ROI.

  • Provide continuous and healthy feedback.
  • Encourage healthy teamwork.
  • Give them room to grow and offer ample skill development opportunities.
  • Help them scale up their expertise levels and boost their career path.
  • Use performance management tools to help them track their own progress and efficiency and encourage them to work on filling the gaps (if any).
  • Implement clear SMART (Specific, Measurable, Achievable, Relevant, Time-bound) goals in your work culture.

Conclusion:
To conclude, an employee’s net value to an employer is a complex calculation because you need to consider various company parameters and evaluation metrics. However, take the time to make the right evaluation to maintain employee satisfaction while, at the same time, measuring your profits.

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Decoding Attendance Management: Going Beyond Time Tracking https://www.247hrm.com/2023/09/11/decoding-attendance-management-going-beyond-time-tracking/ https://www.247hrm.com/2023/09/11/decoding-attendance-management-going-beyond-time-tracking/#respond Mon, 11 Sep 2023 03:33:01 +0000 https://www.247hrm.com/?p=10122 The Digital Evolution: Why Your Company Needs an Automated Attendance Management System

Are you still battling with manual attendance sheets in this digital age? Dive in to discover the transformative power of automated attendance management systems like 247HRM, especially in today’s fast-paced business landscape.

Decoding Attendance Management: Not Just Time Tracking Anymore 

While manual attendance and payroll management can bog down even the most organized businesses, the need for automated solutions has never been clearer. Whether you’re a budding startup or a well-established conglomerate, manually sifting through attendance sheets can be cumbersome, prone to errors, and, frankly, a drain on resources.

Enter the realm of modern HR tech software, like 247HRM. These systems not only automate attendance but also offer a plethora of features, such as:

Employee Self-service: Employees can manage their attendance and leave, reducing HR workload.

Automatic Notifications: Stay updated without any manual intervention.

Paperless Environment: Eco-friendly and efficient.

Reliability: Say goodbye to human errors with accurate data tracking.

Personalization: Customize the software to fit your workplace’s unique needs.

Integrated Hardware: Seamlessly works with biometric devices, face recognition machines, and more.

Maintaining Company Culture: Promote a culture of transparency and trust.

Boosting Workforce Productivity with 247HRM A robust system like 247HRM does more than just record entry and exit times. It offers insights into the efficiency of teams and individuals, helping managers allocate resources effectively. By monitoring the punctuality and productivity of team members, companies can ensure optimal outcomes for projects. Furthermore, a quick glance at the software can reveal who is best suited for tight deadlines and who excels in delivering quality output.

Resource Planning Perfected Understanding an employee’s absenteeism rate is no longer a challenge. With real-time data at your fingertips, you can gauge the progress of various tasks and ensure timely completion. Allocate your resources more effectively, ensuring that the right people are in the right roles, thus preventing the wastage of vital skills on mismatched tasks.

Nurturing a Positive Work Environment with 247HRM A transparent system fosters trust. With 247HRM, employees have direct access to their attendance data, eliminating the need to constantly check in with HR for basic information. This autonomy not only boosts morale but also cements a positive and open company culture.

Conclusion: The Future is Automated with 247HRM 

In an era where efficiency and technology define success, manual processes are a relic of the past. 247HRM’s attendance management system not only streamlines operations but also equips businesses with tools to enhance productivity, resource allocation, and company culture. Ready to embrace the future? Explore 247HRM today.

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The significance of feedback, review, and mentoring in personal and professional growth https://www.247hrm.com/2023/09/11/the-significance-of-feedback-review-and-mentoring-in-personal-and-professional-growth/ https://www.247hrm.com/2023/09/11/the-significance-of-feedback-review-and-mentoring-in-personal-and-professional-growth/#respond Mon, 11 Sep 2023 03:31:44 +0000 https://www.247hrm.com/?p=10120 In the dynamic world of personal and professional development, feedback, review, and mentoring are foundational. Acting as the bedrock for performance management, they drive continuous improvement for both individuals and organizations.

The Impactful 360-Degree Review

The performance management system often emphasizes the 360-degree review. Unlike conventional top-down evaluations, a 360-degree review encompasses feedback from every direction: managers, peers, subordinates, and self-assessments. It offers a thorough insight into an individual’s strengths and improvement areas.

By revealing hidden perspectives, the 360-degree review boosts self-awareness – an essential trait in professional development. It promotes a transparent, collaborative workspace, enhancing teamwork and communication, and aligning organizational objectives.

Harnessing Surveys for Reliable Insights

Within performance management tools, surveys are instrumental. They extract quantifiable data on performance metrics, employee satisfaction, and engagement. Employee engagement surveys can preemptively spot and address concerns, enhancing the workplace atmosphere, productivity, and loyalty.

Mentoring: The Compass for Growth

While feedback offers retrospective insights, mentoring propels forward growth. A mentor, using their vast experience, provides invaluable knowledge and support. They bridge the knowledge gap, enabling mentees to learn from past experiences, and ensure smoother navigation through professional challenges.

The Confluence of Feedback, Review, and Mentoring

Together, feedback from tools like 360-degree reviews and surveys shape the mentoring process, making it more targeted. Conversely, mentoring fosters an environment ripe for candid feedback, cementing the cycle of growth and improvement.

Conclusion

In our progressive digital era, feedback, review, and mentoring are indispensable for any effective performance management application like 247HRM. They instill a culture of awareness, cooperation, and relentless progress. To delve deeper into how 247HRM can catalyze your organization’s growth, visit our website.

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10 characteristics of HRMS (Human Resource Management Software) https://www.247hrm.com/2023/09/11/10-characteristics-of-hrms-human-resource-management-software/ https://www.247hrm.com/2023/09/11/10-characteristics-of-hrms-human-resource-management-software/#respond Mon, 11 Sep 2023 03:28:14 +0000 https://www.247hrm.com/?p=10116 Human Resource Management Software (HRMS) has revolutionized the way organizations handle their HR functions. These robust platforms offer a comprehensive suite of features designed to streamline HR processes, enhance productivity, and nurture a thriving workforce.

Let’s explore the 10 key characteristics of HRMS and how they contribute to the professional growth and success of businesses.
Seamless Tracking
A comprehensive online attendance system accurately tracks employee work hours. By consistently recording attendance data in real-time, organizations can seamlessly monitor employee attendance and identify attendance patterns to optimize scheduling and resource allocation effectively. Additionally, it fosters a culture of punctuality and accountability, leading to increased productivity and employee satisfaction within the workplace.
Hiring Talent Made Easy
The Applicant Tracking System (ATS) simplifies the recruitment process by automating candidate sourcing, resume screening, and interview scheduling. With ATS, HR professionals can efficiently identify top talent, accelerate hiring cycles, and attract skilled individuals who align with the organization’s values and goals. By simplifying these critical aspects of talent acquisition, the ATS saves time, reduces manual efforts, and ensures that the best-fit candidates are brought into the organization quickly and effectively.
Error-Free Payroll
When HRMS is integrated with a payroll system, it ensures that employee salaries are disbursed accurately and on time. By automating complex calculations and tax deductions, the payroll system minimizes the risk of errors, enhances transparency in payroll processing, and ultimately boosts employee satisfaction with a seamless and error-free payroll management process.
Empower Leave Management
The Leave Management System empowers employees by providing a user-friendly platform to request and manage leaves effortlessly. With real-time visibility into leave balances and approvals, HR can effectively monitor and maintain a fair and balanced workload for the entire team, fostering a culture of discipline in leave usage and preventing unauthorized absences. This seamless leave management process enables employees to achieve a better work-life balance while ensuring the organization operates efficiently and without disruption.
Performance Excellence
Performance Management tools enable performance excellence by providing a structured framework for goal setting, performance evaluation, and continuous feedback. Through these tools, managers can set clear expectations, identify areas for improvement, and recognize exceptional contributions, nurturing a performance-driven culture within the organization. This fosters employee growth, boosts motivation, and aligns individual efforts with the company’s strategic objectives, ultimately leading to enhanced productivity and organizational success.
Continuous Learning Culture
Learning and Development plays a pivotal role in fostering a continuous learning culture within organizations. By delivering comprehensive training and development programs to employees, organizations empower their workforce to continuously learn, upskill, and develop their talents, ensuring they remain relevant and adaptable in the ever-evolving business landscape. This dynamic approach to learning not only enhances employee performance and productivity but also contributes to the overall growth and success of the organization.
Adherence to Legal Compliance
Compliance with labor laws and regulations is critical in every organization. HRMS with statutory compliance features ensures adherence to legal requirements, minimizing risks, and promoting sound governance practices. This empowers HR teams to focus on strategic initiatives and fosters a culture of trust and transparency within the organization.
Talent Review
Talent analysis, a crucial component of the talent review process, enables organizations to make informed talent assessments, identify high-potential employees, and nurture their growth. By leveraging talent analysis data, organizations can create comprehensive succession planning strategies and conduct career progression discussions, building a strong talent pipeline to ensure long-term success and sustainable growth for the organization. 
Enhanced Project Management
Timesheets in an HRMS enable employees to log their project hours and track tasks with accuracy, providing a comprehensive view of the time allocated to different projects and tasks. This feature ensures transparency within the organization, enhancing project management capabilities by offering real-time insights into project progress and resource allocation. Moreover, by fostering a sense of accountability among employees, timesheets contribute to a more efficient and organized approach to project execution, ultimately leading to enhanced project outcomes and successful project delivery.
Employee Wellbeing and Engagement
Beyond the core HR functionalities, modern HRMS incorporates features to measure and enhance employee well-being and engagement. Employee surveys enable organizations to gather valuable insights into employee satisfaction and identify areas for improvement, while feedback tools facilitate open communication and create a culture of continuous improvement. Additionally, wellness programs promote a supportive work environment that prioritizes employees’ physical and mental health, leading to increased productivity, job satisfaction, and overall employee well-being.
Conclusion
By embracing the power of HRMS, businesses can create a positive and productive work environment, unlocking the full potential of their workforce and positioning themselves for success in the competitive market. As technology evolves, HRMS will remain at the forefront of modern HR practices, ensuring sustainable growth and prosperity for forward-thinking organizations.

24HRM is a leading HRMS that offers all the above features and more. For additional details, please visit our website.

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Enhancing efficiency and accountability: The significance of timesheets, tracking, and attendance https://www.247hrm.com/2023/08/29/enhancing-efficiency-and-accountability-the-significance-of-timesheets-tracking-and-attendance/ https://www.247hrm.com/2023/08/29/enhancing-efficiency-and-accountability-the-significance-of-timesheets-tracking-and-attendance/#respond Tue, 29 Aug 2023 08:31:30 +0000 https://www.247hrm.com/?p=10110 In today’s dynamic business landscape, the value of time cannot be overstated. Whether you’re an independent contractor, a proprietor of a small enterprise, or a member of a larger corporation, the art of time management can be the catalyst that distinguishes achievement from mediocrity. Central to this art are the often-underestimated tools of timesheets, tracking, and attendance.

In this blog, we will delve into the pivotal roles these components play in optimizing project management, precisely quantifying billable hours, and fostering a culture of unwavering accountability.

The Number of Hours Spent on a Project

Without an accurate record, the passage of time can easily slip through our fingers. Here, the significance of timesheets shines through. They neatly catalogue your invested time, mapping out each phase of your project. This invaluable data empowers you to gauge your productivity with precision, identify bottlenecks, and make well-informed choices to enhance efficiency.

Timesheet tools provide a detailed picture of your work, revealing which aspects of your project demand more attention and investment. By honing in on this data, you aren’t merely managing your current workload; you’re also laying the foundation for more informed and efficient endeavors in the future. Effort analysis by project and further by task empowers the project manager, the unit manager and the business leader. Such analytics helps in planning resource allocation, progress roadmap, delivery assessment and also serves as reference for future projects. 

Quantifying the Number of Billable Hours

For those engaged with freelancers, shifts workers, and daily wage workers, accurately tracking billable hours is a cornerstone of financial equity. It’s the process that ensures the remuneration you receive reflects the value of your efforts. Timesheets serve as the cornerstone for calculating these billable hours. By meticulously recording the time dedicated to each client’s project, you can create invoices that aren’t just monetary figures but clear reflections of the work invested.

This concept gains even greater precision as multiple HR management tools allow customisation. Assigning specific billable rates to diverse tasks or clients ensures your calculations are error-free. Such seamless integration of timesheets into your workflow nurtures transparent client relationships and cultivates a thriving clientele.

Measuring Progress and Fostering Accountability

In every professional setting, accountability is the pillar upon which success is erected. Timesheets and tracking mechanisms not only measure individual and collective efficiency but also cultivate an environment of responsibility. When employees know that their time is monitored, they naturally start focusing better, prioritizing and executing tasks seamlessly.

Furthermore, tracking enables constructive progress assessment and growth. Managers can sketch strengths that can be capitalised upon and areas where development is imperative. This culture of data-driven evaluation sets the stage for insightful feedback and strategic training interventions, ultimately benefiting the organisation as well as individuals. While supervision could be done with a similar yardstick, different team members need unique mentoring. Tracking ensures discipline and accountability. It also provides the opportunity to get developmental needs of each individual. With these individual specific insights, the supervisor is well equipped to mentor the member more effectively This way each member gets curated and effective guidance. 

Conclusion

In a world where time is an irreplaceable currency, the role of timesheets, mentoring, and attendance systems cannot be undermined. Embrace the power of these tools that provide real time dashboards, and watch your efficiency flourish while accountability becomes second nature.

We invite you to explore 247HRM to explore and incorporate such tools at your organisation. Please visit our website to get in touch.

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The gig economy is on the rise: How can HR navigate the changing landscape? https://www.247hrm.com/2023/07/31/the-gig-economy-is-on-the-rise-how-can-hr-navigate-the-changing-landscape/ https://www.247hrm.com/2023/07/31/the-gig-economy-is-on-the-rise-how-can-hr-navigate-the-changing-landscape/#respond Mon, 31 Jul 2023 09:05:19 +0000 https://www.247hrm.com/?p=10103 The work landscape has transformed significantly over the past few years, and the gig economy has played a crucial role in this evolution. The growing popularity of independent work has had a major impact on HR practices. We shall discuss this in detail in this blog.

What does the gig economy refer to?

Short-term contracts, freelance, and independent workers constitute the gig economy. This shift in employment patterns presents both challenges and opportunities for HR professionals. However, they can play a strategic role in managing freelancers and contractors, building a flexible workforce, fostering a smooth transition from traditional to gig work, using advanced HR management software, and adapting HR practices to leverage the gig economy effectively.

The strategic role of HRMs

As the gig economy expands, HR professionals play a crucial role in effectively managing freelancers and contractors. Here are some strategies HR can employ to ensure the success of these non-traditional workers:

  • Clear Communication: Establish transparent communication channels to ensure freelancers and contractors understand their roles, responsibilities, and project expectations. This includes providing clear guidelines, deliverables, and timelines.
  • Onboarding and Training: Develop an onboarding process specifically designed for gig workers. Provide them with the necessary training and resources to excel in their assignments. This can involve creating a freelancer handbook, conducting virtual training sessions, or offering online resources.
  • Performance Evaluation: Implement fair and objective performance evaluation mechanisms for gig workers. Set clear performance metrics and provide regular feedback to help them improve their performance and foster a sense of engagement and accountability.
  • Relationship Building: Although gig workers are not permanent employees, focus on building strong relationships with them is necessary. Regular check-ins, recognition programs, and team activities can boost productivity by fostering inclusivity.

Building a flexible workplace

To take full advantage of the potential of the gig economy, HR professionals could adopt strategies that enable seamless integration of gig workers into the organisation. Here’s how HR can build a flexible workforce:

  • Redefine Work Models: Evaluate the organisation’s current work processes and identify areas where gig workers can contribute effectively. Create flexible job descriptions and project-based roles to accommodate gig workers’ diverse skills and expertise.
  • Embrace Technology: Leverage technology solutions such as talent marketplaces, freelancer platforms, software for employee monitoring, engagement, 360 degree reviews, payroll management systems, and project management tools to connect with and manage gig workers efficiently. These platforms can streamline the hiring process, facilitate communication, analyse engagement, and track project progress.
  • Foster Collaboration: Encourage collaboration between gig workers and full-time employees by creating virtual spaces for knowledge sharing and collaboration. This can be achieved through team collaboration tools, virtual brainstorming sessions, or project-specific communication channels.
  • Ensure compliance: HR must stay updated with labour laws and regulations surrounding gig workers to ensure compliance. Consult with legal experts to understand the legal obligations and rights associated with engaging gig workers.

How can HRMs foster a smooth transition?

Transitioning from a traditional workforce to a gig economy model can be challenging, but HR management systems (HRMS) can serve as valuable tools in facilitating this shift. Here’s how HRMS can support a smooth transition:

  •   Talent Acquisition: Leverage HRMS to streamline the gig worker recruitment process. Create a talent pool specifically for gig workers, enabling HR professionals to easily search for suitable candidates, manage applications, and facilitate onboarding.
  •   Flexible Compensation and Benefits: Implement HRMS that can handle flexible compensation models required for gig workers. These systems can automate payments, track hours worked, and manage benefits customised to gig workers’ specific needs.
  •   Performance Management: Utilise HRMS to establish performance management frameworks tailored to gig workers. This includes setting project-specific goals, tracking progress, work planning and providing real-time feedback through the HRMS platform.
  • Knowledge Management: Implement knowledge-sharing platforms within HRMS to ensure gig workers have access to relevant resources, project-specific information, and best practices. This promotes collaboration, enhances productivity, and improves overall performance.

 

Adapting HR Practices for the Gig Economy: Challenges and Opportunities

  • Workforce Planning: HR must develop workforce planning strategies that accommodate gig workers’ flexible schedules, availability, and project-based commitments. This involves forecasting project needs, identifying skill gaps, and aligning the right mix of gig workers and permanent employees.
  • Employee Engagement: Maintaining employee engagement and a sense of belonging can be challenging in a gig economy. HR can address this by implementing virtual team-building activities, recognition programs, and fostering a supportive work culture.
  • Legal and Compliance: Staying compliant with labour laws and regulations surrounding gig workers can be complex. HR professionals need to seek advice from legal experts to navigate the legal landscape and ensure the organisation meets its obligations.
  • Talent Retention: It is recommended to analyse the members every 6 months on the following factors:
    1. Performance
    2. Potential
    3. Probability of attrition
    4. Impact if attrition takes place
    5. Development needs 
    6. Job Fitment
    7. Strengths

While the gig economy offers numerous benefits, it also presents challenges that HR professionals need to address. Let’s explore some of these challenges and opportunities:

Talent Reviews, developmental strategies and relationship building should be the focus areas. Further, Offering competitive compensation, and recognising their contributions can help foster loyalty and retention.

Conclusion

The gig economy presents HR professionals with new challenges and opportunities but HR professionals can harness the power of HR management software such as 247hrm.com to navigate the challenges while leveraging the opportunities simultaneously. It is crucial for all HR reps to embrace this shift in the world of work because the gig economy is here to stay!

 

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Is Payroll an HR or Finance Job? Why Outsourcing to 247HRM is the Best Choice for End-to-End Payroll Services in India https://www.247hrm.com/2023/01/27/is-payroll-an-hr-or-finance-job-why-outsourcing-to-247hrm-is-the-best-choice-for-end-to-end-payroll-services-in-india/ https://www.247hrm.com/2023/01/27/is-payroll-an-hr-or-finance-job-why-outsourcing-to-247hrm-is-the-best-choice-for-end-to-end-payroll-services-in-india/#respond Fri, 27 Jan 2023 11:03:34 +0000 https://www.247hrm.com/?p=10053

Struggling to manage payroll effectively? Payroll outsourcing is the solution. 247HRM, a leading provider in India, offers end-to-end services including payroll processing, tax compliance, and employee record-keeping. Improve efficiency and focus on your core business.

Payroll is an essential function of any organization as it involves the process of paying employees for their work. The question of whether payroll is an HR’s job or Finance job has been a topic of debate for many years. Both HR and Finance departments have a significant role to play in the payroll process, and each department brings its unique set of skills and responsibilities to the table.

HR is responsible for the administration of employee benefits, tax deductions, and compliance with labor laws. They are also responsible for maintaining employee records, including their personal information, payroll records, and other relevant data. On the other hand, the finance department is responsible for ensuring that the organization’s financial records are accurate and up-to-date. They are responsible for preparing financial statements, managing cash flow, and ensuring that the organization’s financial transactions are recorded correctly.

Both HR and Finance departments work closely together to ensure that payroll is processed accurately and on time. The HR department is responsible for collecting and providing the necessary information to the finance department, while the finance department is responsible for calculating and processing payroll.

However, despite the importance of payroll, many organizations struggle to manage it effectively. This is where payroll outsourcing comes in as a solution. Outsourcing payroll allows organizations to focus on their core business operations while leaving the payroll function to a specialized provider.

One of the best payroll outsourcing providers in India is 247HRM. We provide end-to-end payroll services, including payroll processing, tax compliance, and employee record-keeping. Our team of experts ensures that your payroll is processed accurately and on time, saving you valuable time and resources.

In conclusion, payroll is a critical function that requires the skills and expertise of both HR and Finance departments. However, managing payroll can be time-consuming and complex, and many organizations struggle to do it effectively. Payroll outsourcing is the best choice for organizations looking to streamline their payroll operations and improve efficiency. 247HRM is a leading payroll outsourcing provider in India that offers end-to-end payroll services, ensuring that your payroll is processed accurately and on time.

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247HRM Recognized in G2 Winter 2022 Reports as Core HR Software Leader https://www.247hrm.com/2022/12/15/247hrm-recognized-in-g2-winter-2022-reports-as-core-hr-software-leader/ https://www.247hrm.com/2022/12/15/247hrm-recognized-in-g2-winter-2022-reports-as-core-hr-software-leader/#respond Thu, 15 Dec 2022 12:50:07 +0000 https://www.247hrm.com/?p=10044 We’re thrilled to share that 247HRM has been named a leader in the G2 Winter 2022 Reports. G2 is a leading peer-to-peer review site that provides unbiased user reviews on leading software solutions. Every quarter, G2 highlights the top-rated solutions in the industry, as chosen by customer reviews.

247HRM was recognized in 6 categories and highlighted as a leader in 3 categories for Winter 2022.

Best HR Software in India

 

Over 1500+ clients across the top 20 industry verticals have been using 247HRM (India’s favorite HR Software) modules to address their critical HRMS applications.

247HRM simplifies all your HR management needs from payroll and taxes to performance appraisals and time tracking.

 

The full list of recognitions for Winter 2022 includes:

  • Best Estimated ROI
  • Users Most Likely To Recommend Enterprise
  • Best Results Enterprise
  • Highest User Adoption Enterprise
  • Fastest Implementation Enterprise
  • High Performer Enterprise
  • High Performer Mid-Market
  • Easiest Admin Enterprise
  • Leader Mid-Market
  • High Performer Small-Business
  • High Performer Small-Business
  • Easiest To Do Business With Enterprise
  • High Performer
  • High Performer Enterprise
  • Easiest To Use Mid-Market
  • Best Support Mid-Market
  • High Performer Mid-Market
  • High Performer

 

Looking Ahead

“Creating happy and motivated workplaces is a part of the DNA of Team 247HRM and we are extremely proud of the faith and trust that each and every one of our clients has in us. Sure, we’re basking in the euphoria of these recognitions, and we’re also extremely humbled. We can’t emphasize it enough when we say we owe all the recognition to our awesome customers,” said Varun Reddy,  Managing Partner, 247HRM.

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