3 Reasons Singapore SMEs Should Automate Payroll
Automating payroll for Singapore SME’s
1. Employees are empowered, and a consumer-grade experience is delivered.
Employees are increasingly noticing a difference in experience between work and personal applications as work-from-anywhere, anytime becomes the norm.
Employees now expect their employers to implement workforce applications that provide a consumer-grade experience.
Payroll automation enables employee self-service options, allowing employees to easily view payroll-related aspects and even download their payslips while on the go.
Furthermore, they can update personal information in real-time, which significantly speeds up and saves time in the payroll process.
2. Change the focus of the HR team from transactional to value-added strategic work.
According to conservative estimates, HR teams can spend up to 50% of their time dealing with employee-related paperwork.
Automating the payroll function can help HR teams save a significant amount of time, which they can then use for employee engagement and other value-added activities such as internal programs to improve business operations efficiency.
Payroll automation can provide HR teams with the bandwidth to focus on critical aspects that can help them be seen as a true Strategic Business partner as headcount budgets for HR departments across enterprises are being slashed.
Payroll automation, moreover, eliminates human errors and provides insights that can aid in better forecasting and cash flow management.
3. It aids in remaining compliant.
It is common knowledge that employment regulations and related payroll issues change far too frequently for any HR professional to keep up with.
Cloud-based SaaS Payroll Solution Providers stay up to date on these developments and incorporate them into their solutions.
This not only eliminates the hassle of manual effort by HR teams but also eliminates the dreaded compliance-related errors and allows them to be aligned with the most recent government regulations.
Automation and digitization are clearly here to stay. As a result, enterprise HR teams of all sizes must leverage technology to provide a best-in-class workplace experience for a multi-generational workforce with varying needs. So, get on board with HR technology and make it a constant change!
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Author: Parker adam
