How to reduce the HR functions cost

How to reduce the HR functions cost

How to reduce the HR functions cost

In a challenging economic scenario, it is imperative to reduce costs while increasing employee productivity. To achieve these basic goals HR must revisit its policies make changes whenever and wherever possible. However, before examining other departments and functions they must try and identify the ways and means as for how to reduce the HR functions cost?
HR professionals can strategies in multiple ways to cut HR costs before it becomes an issue. The same can be attained without sacrificing employee satisfaction or threatening any employee retention. Below mentioned are some successful strategies to cut HR functions cost and while improving employee productivity.
Risk Management:
Minimize risk by human resources outsourcing. There are several firms those who perform outsourced work.  The ever-changing employment and labor laws can make things difficult for employers to remain up-to-date on regulations that affect the workplace. Outsourcing firms employ HR professionals whose purpose is to stay abreast of numerous central and state employment laws. HR firms maintain and audit company policies and practices to ensure the organization and its employee's best interests remain protected.
Hire & Retain Top performers:
High employee turnover can result in considerable costs and loss of productivity. This also saves cost involved in training. Statistics reveal an employer loses about six days of productivity due to attrition of a tenured employee. To avoid high turnover without increasing costs significantly, conduct periodical evaluations of every staff performing HR activity.
Improve Training And Mentoring:
Appropriate training and mentoring is the key to reducing costs in HR functions. Appointing a supervisor with poor knowledge can cause internal conflicts within the HR team and within the organization. HR supervisors need to train its staff so that they understand every finer nuance of the organization and organizational policies right from hiring to training and mentoring.
Process Automation:
Process automation is one of the best ways to cut costs. Automating manual processes, like providing an employee portal can help streamline processes related to employee requests. Digitizing documents such as employee handbooks can eliminate copying costs and make distribution easier. Such modern human resources strategies can truly help.
Process Outsourcing:

Several organizations have moved some in-house HR functions to an external service provider. This helps in cutting costs of HR functions drastically. Most of the HR related and operational expenses are saved by outsourcing few HR functions. 

10 Leadership Skills in Human Resource Management


10 Leadership Skills in Human Resource Management


Human resource professionals must inculcate the habit of leading from the front. They could be involved in multi-disciplinary roles in an organization. To attain maximum growth and successful human resource professionals must tap the intrinsic skill of each employee. Human resource managers must be champions in recruiting the right resource, planning, and coordination, supervision, and handling staff issues. They should also possess ancillary skills like developing training modules, learning and development modules must be champions of performance management, change management, and employee management.

Below mentioned are the top 10 mandatory leadership skills essential for driving organizational success.

1. Ability to Lead:

A leadership skill that is must for every HR professional is the ability to lead. An HR leader should set his vision and share it with employees that will inspire and bring the best out of them. An HR leader should motivate his employees to attain the organizational objective. He / She should instill faith among employees that if they achieve their goals they will be rewarded. The employees should be motivated enough to have a sense of purpose.

2. Effective Communication

All HR leaders are good communicators. They must understand how to get their point across. They must explain the company’s vision to their employees; explain tasks and how it is to be done. He / She must facilitate office communications and conversations. HR Leaders must also be able to communicate a job requirement before someone is hired and explain the reasons in case someone is fired.

3. Performance Management:

Performance management is the ability to manage and ensure that goals are consistently being met in an effective and efficient manner. In the context of an HR leader performance management is to focus on the performance of an organization, every department and each and every employee. It is basically the process by which HR leaders, managers, and employees work together to plan, monitor and review an employee’s work objectives and overall contribution to the organization. 

4. Adapt Change Management:
A leader should always be prepared for change and manage them to achieve continuous improvement Change management is the adaptation of tools and techniques to manage the people side of change and to achieve the required result. Change management incorporates organizational tools that can be utilized to help employees make successful transitions resulting in the adoption and realization of change.

5. Recruitment & Selection of Employees:
Recruitment & Selection is one of the core functions of any HR Leader. From the management stand point a HR leader should formulate an effective recruitment strategy. It plays an integral role in the success of any organization. Mapping open positions to an appropriate pool of potential candidates with the desired knowledge, skills and experience will certainly allow an organization to flourish.

6. Conflict Management:
 The role of a HR leader is critical to ensuring everything goes well within the organization. A HR leader is required to shield the company from the potential liability that comes with unprofessional behavior and allegations. There should be no discrimination or harassment and leader must mediate disagreements between colleagues. Apprehending to situations in black and white is an integral part of conflict management.

7. Program Development & Implementation:
 HR leaders must design the frameworks for learning and development. They must formulate a core team to collaborate and design programs for the betterment of the company. An HR lead must initiate and execute training programs, leadership programs, wellness programs and compensation programs through launch and beyond.

8. Time Management:
Time Management is one the most critical aspect for every HR leaders, though it is important for everybody. Great HR leaders not only have to manage their own time but will have to manage an entire organization’s time and efforts. Time management skills help understanding how employees spend their time, how each department should spend its time and on what objectives each department should spend its time on.

9. Problem Solving:
All HR leaders must possess problem-solving skills. There could be a problem in a team or with the company HR leaders must lead from the front on such occasions. An HR leader must come forward to solve a particular problem for their clients, employees and all other stakeholders of the organization.

10.  Organizational Development:

HR leaders must display Organizational Development skills. They must assess and identify an employee’s strengths and weaknesses and devise a plan to nurture and expand their skills. It is the duty of HR lead to strengthening individuals those who make up a company. The organization as a whole can be transformed into an innovative force by evaluating staff on a continuous basis and providing ample opportunity to learn new ideas.

Why Cloud WIN HRM and Payroll Application?

Win HRM Payroll is a pioneer in the business of providing HRM Solutions and Payroll Solutions across the globe. Today we are one of the leading HRM and Payroll Solutions Provider in India and abroad. With over 17 years of successful journey in this space, today Win HRM boasts of serving High-End Technology and Business Solutions to its customers with On-site, Off-site and Off-shore development models. Using cutting-edge technologies and re-usable frameworks Win HRM Payroll has designed, developed and deployed many enterprise-class solutions in the areas of HRM and Payroll.

Our Approach:
Our approach is to assimilate knowledge, develop world-class products that would assist clients in effectively implementing their HRM processes to achieve goals. Our functional and technical team believes in providing complete hand-holding through the entire process of payroll software application implementation and also during payroll data migration and while setting up processes. Our Payroll software will accept all global terms like your organization details and create master databases of your employees. It will keep information like designations, departments, holidays, pay dates, leaves, taxation, credits, deductions and more.
Our Presence:
We have nationwide presence and we have left our footprints in 20 states across India. Today we are one of the leading HRM Solutions Provider in India and Payroll Solutions Provider in India. We have our Head Office in Hyderabad and regional offices in Chennai, Mumbai, and Bhubaneswar. We have left our overseas mark in US, UK, Sri Lanka and Timorlieste.
Our Motto:

Our motto is to be a leader in this space of providing HRM Solutions and Payroll Solutions in India and abroad. With the help of Cloud and new age technologies, we want to take Online HR Management Software systems to a different altitude. We intend to build and offer HRM and Payroll based solutions for today's niche market and dynamic digital environment that will change the landscape of HRM and Payroll Software Solutions in India.

Cloud HRM and Payroll Management Application

Cloud HRM and Payroll Management Application

 HR Dashboard:

Efficiently and optimally use your workforce. Our Cloud HRM Software provides easy-to-use features for paperless hiring, payroll, timesheets, performance appraisals, HRIS (Human Resource Information Systems) and many more. Our Cloud HRM Software facilitates the management of complete range of HR functions and responsibilities. The Cloud-Based HR Software is powered by core database and extensive features like employee resource management which makes administration efficient, easier and accurate. With our Cloud-based HR Software, a manager can take salary and employee metrics out of spreadsheets into an interactive scorecard. The Cloud HRM Software is coupled with great visuals and graphs that can be easily accessed. The Cloud-based HR Software efficiently manages the cycle of hire-to-retire through smartly designed dashboards.

Employee Tracking and Management

Productivity tracking is the key to every business. Maximize your ROI on your human capital management by tracking productivity for each employee with designated KPI’s and goals. Streamline and automate the leave workflow of each employee through our Cloud HRMS Application. Ensure fair and punctual payroll generation each time. With our state of the art and Best Core HR Software, we provide a visually engaging way to aggregate and present employee data with all the information in a meaningful way. From PowerPoint to basic database reports and from Excel spreadsheets to real-time you can streamline your data like never before. With Best Core HR Software, metrics and numbers from multiple data sources are easy to understand, view, and share. This agile form of data delivery sets your HR Team apart from the rest.

Industry Trends in Payroll Management Software

Industry Trends in payroll Management Software


HR is the integral function of any organization and technology invasion in the space of HR is not new, however, this advancement in technology is witnessing one of the most disruptive period's HR industry has ever gone through. Since last one decade or so, a lot of research and investment has been done on streamlining the different functions of HR, which has led to the evolution of integrated human resource management system (HRMS) platforms. A paradigm shift has also taken place in terms of usage of technology like moving from local storage to cloud, web to mobile; data-driven analytics to artificial intelligence; usage of video interfaces to social recruitment, etc.


With these developments industry trends are reshaping and getting reorganized. With the widespread adoption of the SaaS business model, Payroll Management Software industry has been experiencing robust growth. The biggest industry trend is moving towards cloud-based, Software as a Service (SaaS) product. This transition is certainly bringing in a new dimension and spectrum to the Payroll Management Software. Payroll Management software is a powerful tool for smaller businesses that helps in centralizing and automating the payroll process which in turn saves money and time.

Cloud Adoption – The Key Differentiator:

Companies are rapidly adopting cloud-based apps. From SMEs to large MNCs, companies are embracing this technology change mainly because it is cost-efficient, flexible and convenient. From tracking employee attendance and leaves to managing payrolls, the entire episode is maintained by cloud applications. Cloud technology has enabled HR to access data from Smart-phones, get real-time data, get updates and monitor other day-to-day activities.


Integrating Business Functions:

HR functions include talent management, recruitment, payroll and several other functions. Integrating these HR functions with Payroll Management Software will certainly boost productivity and will lead to efficient business practices. Through these centralized systems, data can be easily generated and accessed by top management or other key stakeholders. For optimal results and error-free operation, integrated processes are being adopted by Payroll Management Software that would help in business expansion and efficient management of the workforce.


Compliance and Data Security:

Modern-day payroll management software needs to be robust and secured as it involves a lot of file sharing and data transfer. There is a need to protect and bring into place data security compliances. Today, the new age Payroll Management Software is able to handle critical and sensitive data such as business and employee details. Hence, Payroll Management Software is custom made so that business owners would feel most comfortable when the access is restricted and confidential.

Cloud-based Payroll Management Software
is one such tool that can ensure all of these obligations are met with fine precision and within timelines.

Conclusion:

In this continuously evolving space Payroll Management Software needs to be customized and innovative so that it can fit into any business requirement. It should ensure security and simultaneously be user-friendly. Inspired by artificial intelligence employees these days love automated systems and auto-generated data; hence, the software should carry these additional features. With this tool coming handy, HR fraternity will certainly keep pace with the dynamics of this ever-changing landscape.
http://www.winhrmpayroll.com