In the quest for increased revenues and faster growth, businesses often look outward, rather than inward. Adapting to modern technology has not only proven effective in handling time but also has the power to transform workplace wellness. Workforce dynamics are evolving constantly and organizations need to adapt to these changes seamlessly. Considering the multi-cultural, multi-located workforce, nature of work, travel, work from home options, shifts, flexible time, overtime, paid time off policies, etc., managing time, cost and productivity become overwhelming for business owners. Even as we’re witnessing a technological revolution, small business owners often neglect a critical aspect of their model: an employee monitoring system.
When we talk about employee monitoring, the first thing that comes to mind is a proper check on employees regarding their punch in and punch out time, i.e. a proper attendance management system.
With an attendance management system, you can instil the appropriate values of discipline among the employees and much more.
SalaryBook provides you with a fully automated attendance management system that is extremely easy to use as well. Thus, its simplicity makes it a more viable option for SMEs and helps boost their growth. With SalaryBook’s fully automated attendance management system, you can:
ensure accurate time records and minimize the inevitable and costly errors with manual data entry.
The accurate data from the attendance management system thereby helps to provide accurate performance and payroll data.
The time and effort saved combined with data accuracy help us in optimizing the use of resources which lead to increased productivity and thereby improves profits.
access invaluable insights and visibility.
It provides us with hassle-free workflow management.
Thus, you can easily boost the growth of your business with the help of SalaryBook’s fully automated attendance management system.
Employee management is more than just employees doing their respective jobs. Employee management is a task that is easier said than done. The most challenging part of it is the handling of a vast array of persons, all with varying characteristics. Since employees are fundamental to the success of any business, hence proper care has to be taken for their management.
The fundamental aspects of employee management are:
Selection. We have to choose the right candidates during the hiring process.
Nourishment. We have to determine if an employee is meeting goals and evaluate his performance.
Monitoring. We have to monitor the employee’s performance.
Communication. A proper channel for the communication of ideas is a must. You have to communicate, ask for feedback, and interact with employees, and vice-versa.
Reward. We have to reward the employees for exceptional performance.
Disciplinary Check. We have to discipline employees when they exhibit poor performance, which may lead to termination.
The said aspects are just the building blocks of employee management, but we may still be asking, just what is employee management?
Employee management is actually how we can help transform normal employees into exceptional ones and help top employees sustain a healthy work environment. It’s a variety of procedures and strategies that can help us measure, monitor, and communicate with the workforce that plays a huge role in all companies. Employee management is a process that is based on ideas developed to enhance worker motivation, productivity, and performance which thereby helps in the growth of our business.
Thus, the bottom line is that Employee Management is vital to a company’s success.
And in this essential aspect of your company’s growth SalaryBook can help you a lot. With SalaryBook’s easy to use mobile application you can overcome all your staff management issues very easily. SalaryBook provides you with cent per cent effective solutions in this regard. The only thing you need to do for this guaranteed success is the integration of SalaryBook: Staff attendance, pagar & work manager in your business. With that, you can completely access SalaryBook’s Attendance Management System, Payroll Management System, Employee Management System and much more.
With online competition growing daily, every retail manager wishes they had more hours to deal with the day-to-day challenges. These include operation management, customer equity services and training and hiring of employees.
Fierce competition has lead to more time being spent on strategising and has thereby left decisive tasks such as employee management to last.
One challenge that is often cited by both the stakeholders involved here is the communication lag between management and shop floor workers, especially pertaining to salary-related matters.
Another such issue is the imbalance faced in scheduling by the employees.
With so much physical paperwork and checklists to review, it becomes difficult for the owner/manager to know that everything was done in the correct manner and on time.
Day-to-day operations are a vital element of retail companies. Checklists and reports are commonly used to reduce stress and automate processes. The point is to simplify these processes so you have a better understanding of what’s happening on the ground floor.
SalaryBook Helps You Overcome The Aforementioned Challenges With its Easy To Use Mobile Application
SalaryBook helps you to automate the daily operations of your retail business and gives you a full 360 aspect of your business. With SalaryBook, take employee management to the next level.
Go paperless and automate daily procedures with SalaryBook’s platform. This 100% customizable solution can take any procedure that’s run by pen and paper, spreadsheet, text messages, or phone calls, and easily creates a fully automated process that can be used from anywhere at any time. Everything you need to improve compliance, standardize operating procedures, and move your business forward is available in the palm of your hand.
With SalaryBook, track and manage employee work hours on jobs, projects, or anything else you need. SalaryBook also helps you to improve time management, comply with labour laws and make payroll processes faster and more efficient. Geofence employee tracking with SalaryBook’s GPS location stamps. SalaryBook also allows you to schedule and tag shift attachments for your employees.
SalaryBook’s dashboard is your everyday tool as a manager. Get visual and actionable insights about your business in easy to read pdf format and plan ahead in a better and secure way.
At its core, the COVID-19 pandemic is a human crisis. COVID-19 has changed the experience of work for the vast majority of employees. It forced organisations across the globe to adapt how work is organised and how jobs are designed. The transition from on-site work to work from home has been an abrupt and sudden one. Especially, It has been a really difficult challenge for the Human Resource(HR) Managers. They not only had to take care of the pandemic’s effect on their employees but also make sure that the work pertaining to the various projects did not halt.
In this age of our life where social distancing is the new normal, SalaryBook provides you with the perfect mobile application to manage your employees. The SalaryBook App offers you a wide spectrum of features that help you manage your employees very easily and are also very handy. Some of them are as follows:
With SalaryBook’s Effortless e-Attendance Management System, mark the attendance of your employees in one click. Moreover, SalaryBook smartly calculates your staff’s salary based on the attendance inputs you provide, considering overtime, late fine, leaves, and half days. You can also customize the attendance system according to your requirements.
With SalaryBook’s Efficient Payroll Management System, You can keep a clear record of your business’s finances, including your employee’s salary. You can also keep proper track of advance payments, any allowances, bonus or deductions. SalaryBook also allows you to make seamless salary payments to all your employees and generate payslips.
With SalaryBook’s Methodical Expense Management System, You can truly be the master of all your expenses and have proper control over them. SalaryBook helps you to manage your expenses by adding them all in a single place with a simple click. SalaryBook also helps you in preventing the hassles of month-end expense calculations. SalaryBook makes managing expenses on the go.
With SalaryBook’s Exclusive Salary Feature, You can help your employees in these times of distress. SalaryBook allows you to give your employees access to money between paydays which will automatically be repaid from their paychecks and prevent any excessive fees or interest.
With SalaryBook’s Seamless Employee Hiring Portal, You can post job requirements and hire from the best-suited employees for your company from SalaryBook’s exclusive network India’s most skilled officials. Using SalaryBook’s hiring and onboarding tools, You can also send Job Offer letters, make a custom onboarding checklist and do much more.
Therefore, You can overcome the hardships of the pandemic easily by integrating SalaryBook in your business and have an ever-increasing slope of growth of your business.
Businesses have often been hesitant about hiring IT services as it is assumed to be a high budget. Expenses for IT services vary based on the kind of business you own. So, why does your business requires to go the e-Way in today’s world?
Let’s dig in and find out.
Well, at the moment, the most prominent example that emphasizes the importance of your business going the e-Way is the 2020 COVID-19 pandemic. This entire period of utter chaos brought the world’s remotest corners closer through efficient networking. This pandemic saw the rise of the online era.
Moreover, the World’s Biggest Technology Giants Are Focusing On India’s Small and Medium Enterprises(SMEs). From Microsoft to Amazon to Facebook, Dell, Walmart and Google — the world’s largest tech companies have all set their eyes on the Indian market of small and medium businesses(SMB). Thanks to Digital India and Make In India campaigns that the digitisation of our most influencing economic sector, i.e. SMEs and SMBs have surged pace as well. According to a Google-KPMG study, digitally-empowered SMEs have about twice the revenue growth projections in comparison to offline SMEs.
Integrating technology into your business not only eases a ton of your tasks but also ensures that your business reaches out to wider spectra of audience and expands not just linearly but exponentially.
Efficiently using tech in your business can help you save a lot of money as well. Going the e-Way helps you in creating a greater envelope of inclusion — technologically as well as financially. Enhanced network connectivity and hassle-free technical infrastructure are on of the biggest plus points of going the e-Way.
By going the e-Way you not only save time and money but also increase your Return of Investment(ROI). It also helps you in the better expansion of your business network, managing time effectively and thus enhancing your business productivity and efficiency.
An easy way to begin with going the e-Way is with SalaryBook. SalaryBook is a free and easy to use solution for Employee, Payroll and Expense Management for small & medium enterprises. SalaryBook is the best employee management app available in India. With its exclusive features, you can boost up your business’ growth and get on the e-Way bandwagon.
Payroll is an operation that is more complex than it sounds. This operation includes a gamut of tasks starting from onboarding a new join on payroll, establishing payroll policies, defining pay components, gathering inputs, calculating and verifying payout, processing salary, distributing payslips, tax-filing, accounting, and finally reporting. In layman’s terms, it is the complete chain of tasks for managing the money paid to the employees.
What helps in simplifying this complex process is a Payroll Management System. A Payroll Management System is a framework for the entire payroll function. It is basically a solution through which an employer can manage the salaries of their employees. It incorporates salary, allowances, deductions, and net payable to the employees. It additionally manages the payslip generation task automatically.
Now, we would be breaking down this whole Payroll Management System.
So, as defined earlier the payroll management process is nothing but a set of regulated steps that are performed in the same order every month to form a payroll cycle. In other words, the payroll process is all about arriving at what is due to the employees, i.e., the Net Pay after making the necessary tax adjustments and other deductions.
There are3 stages of payroll:
Pre Payroll Process
Actual Payroll Process
The Pre Payroll Process:
Outlining Payroll Policies: The final amount paid to every employee depends upon various factors. The company’s different policies come into play at the time of it. To begin with, these policies need to be properly defined and approved by the management to ensure standard payroll processing and administration. The primary policies that are considered for it are as follows:
Employee Pay Policy
Leave and Benefits Policy
Time & Attendance Policy
Overtime and Bonus Policy
Reimbursement Policy, etc.
Collecting Inputs: The payroll process includes interacting with multiple departments and professionals to gather relevant information. Data for calculating employee salary includes employee position, leave days, time worked, billable hours, non-billable hours, attendance management data, wage revision data, and others for the specific pay period. These tasks are quite tedious and require one’s utmost attention.
Validating Inputs: Once the information is gathered, it’s time to ensure adherence of the inputs to company policies, and verification of various bills and reimbursement proofs. The inclusion of the new joiners and the exclusion of the ones going out is an important aspect of this part.
The Actual Payroll Process:
Payroll Calculations: This is the most important part of all! When someone says payroll, the first thing to strike most minds is money math. So, at this stage, the gathered and validated input data is to be processed and evaluated. After evaluation and deduction of all the various components of the salary including bonuses, applicable taxes, etc., finally, we get the Net Pay or Net Salary. At last, the reconciliation of the data is done to minimalise errors.
The Post-Payroll Process:
Payout: “Salary has been credited to your account.” Yes, it’s that time of the month! The time to bring a smile to the employees’ faces through this small notification 🙂 Generation of payslips and salary transfers take place in this process by various means as opted by the employer/the organisation.
Payroll Accounting: Maintenance of all financial transactions is an indispensable part of the payroll process. Employee salary is one of the most integral operating costs which has to be recorded in the books of accounts. So, it is essential to keep an eye on the financial data and ensure that all salary and reimbursement information is fed accurately into the accounting/ERP system as part of the payroll management process.
Reporting: Today most of our decisions are driven by the analytics of our datasets. In order to perform analytics, take decisions, and forecast the business future, in-depth reports are to be prepared and maintained. Proper reporting and analysis give the cutting edge to your organisation and play a major part in the sustainability plans of your organisation or business.
Thus, this is how complex the whole “Payroll Management Process” is.
Payroll mistakes can happen faster than we think. Any kind of error in this whole process can ruin the entirety of it and lead to financial complexities, employee grievances or even legal liabilities and penalties.
Such irregularities can take a toll on the morale of the employees and ultimately affect the business productivity. While ensuring accurate and timely payment of salary is important, adhering to the various laws and regulations such as labour law and other statutory compliance is also critical. Non-adherence to these laws can attract serious legal and financial consequences.
To make sure that your employees are happy and you are law compliant, you need to have a robust Payroll Management System. SalaryBook provides you with India’s Best Employee and Payroll Management App in this regard. With SalaryBook’s exclusive payroll management system, you can keep a clear record of salaries, advance payments, any allowances, bonuses or deductions and make seamless salary transactions to all your employees.
The COVID-19 Pandemic has shattered economies like never before. Its impact has been felt across all sectors and levels of businesses. Expenses have been tough to manage for everyone. The financial impact of the COVID-19 pandemic on businesses has been huge. Small to Medium Enterprises(SMEs) have experienced the maximum impact of it. Keeping track of the advance salaries, advance payments on top of the various kinds of regular expenses has been burdensome for business owners.
Manual management of expenses has been all the more difficult. Switching from a manual to an automated system, for managing it, will create an expense policy that is ideally suited to the flexibility of the current era.
That’s what SalaryBook offers, and now would be the perfect time for you to integrate SalaryBook into your business plans and make the most of it.
SalaryBook helps you to manage your expenses by allowing you to perform all sorts of arithmetic operations with a simple click. By using SalaryBook you can avoid month-end expense calculation hassles. SalaryBook makes managing expenses on the go.
According to Wikipedia, “Recruitment” refers to the overall process of identifying, attracting, screening, shortlisting, and interviewing suitable candidates for jobs (either permanent or temporary) within an organization. And, this process is much more complex than how easily Wiki describes it, both the employers and the employees would agree with me.
All employers very quickly learn, there’s a world of difference between a worker who’s correctly matched to their job and their organization, and one who is not. But the primary question here is that how do you find and match the right people to the right jobs?
Well, do not worry SalaryBook is here to help you in this process. With SalaryBook’s smart features you can customize your recruitment process according to your business needs. You can connect with all the skilled employees connected exclusively with SalaryBook. Using SalaryBook you can develop accurate job descriptions. and hire the best-suited employees for your company or business. With the help of SalaryBook’s hiring and onboarding tools, send offer letters, make custom onboarding checklist, review CVs cum visiting card on the go and much more.
SalaryBook makes the whole recruitment process so stress-free and eases one of your many loads.
For a fact, “Enterprise” is the name of almost a dozen towns or cities in the USA. Ever Wondered??? Yes, It is. In Louisiana, Nebraska, etc.
But the “Enterprise” we are referring to here isn’t that. We are referring to the “Enterprise” which means a company or a business according to the Oxford Dictionary Of English.
People who are courageous enough to take the next step and launch an enterprise of their own are known as Entrepreneurs. Entrepreneurs are people who oversee the launch and growth of their enterprises. Small and medium-sized enterprises (SMEs) and entrepreneurs are fundamental to innovation, economic growth and job creation, and play a critical role in socio-economic cohesion.
SalaryBook is providing such enthusiastic entrepreneurs with an opportunity to grow their enterprises beyond the limits of expectations and assist them in reaching their true potential. With SalaryBook’s classified features you can overtake your competitors very easily. With SalaryBook’s Expense Management System, You can plan your way ahead very intelligently. SalaryBook helps you to manage your expenses by adding them all at a single place with a simple click and thus avoid month-end expense calculation hassles. In short, SalaryBook makes managing expenses on the go. This way you can focus more on brainstorming about the expansion of your entrepreneurial ventures and let SalaryBook handle all your laborious calculations and finally present you with a customized report including all the important details in one place.
Efficiency refers to the act of ‘doing things appropriately’. The efficient acts are the ones in which our input generates a useful effect and are functional to our cause. Precisely, efficiency is the ability to act or produce effectively with a minimum of waste, expenditure or unnecessary effort. The focus is on the resources and speed with which organisational goals are achieved.
In our business work arenas, Efficiency plays a humongous role in the success of a particular business, especially “Employee Efficiency”.
All our businesses are some kind of a conglomeration of organized labour at different levels.
Every member up the aforementioned pyramid wants the ones below it to be as efficient as possible. Thus, this is an inter-dependent chain where everyone is liable for every other person’s growth or failure. In all, this is, what we like to say, an Efficiency Growth Pyramid(EGP).
Therefore, the success of an organisation is deep-rooted in the efficiency of its lowest entry-level. Employee Efficiency is a major part that often goes overlooked and hence the organisation collapses in no time.
So, We at SalaryBook have shifted our focus towards this serious issue and tried to lessen your burden by bringing to you the SalaryBook Application(https://bit.ly/3ga3NIk).
SalaryBook assists you in managing your business efficiently. Its features are quite awesome. Some of them are:
You can use SalaryBook to manage and supervise multiple businesses or various branches of it at the same time.
If you are a medium to fairly big enterprise and find it difficult to classify your employees properly, then SalaryBook is the answer for you. SalaryBook helps you in the segregation of staffs in accordance with their payment cycle.
Attendance issues often cause a lot of trouble in SMEs.With SalaryBook’s COOL Attendance features they will no longer be a trouble. Instead, It’ll be fun :). SalaryBook allows you to take attendance in three different ways, (a) GPS + Selfie Attendance (b) GPS Attendance (c)Simple Attendance on the SalaryBook App. The alarm feature for attendances is also a unique one.
SalaryBook also allows you to download timely customized reports of your business which thereafter allows you to have a better look towards the future. With SalaryBook’s detailed customized analytical reports, you can plan the future of your business intelligently and hence embrace a more technically effective approach that could utilise the resources at your hand in a better way.
Various Behavioural Studies have found that “Timely Salary Can Increase The Efficiency Of Your Employees By 95%”.Thus, integrate SalaryBook in your organisation, increase Employee Efficiency and thus reap the benefits of an efficiently structured organisation. An easy path to success 🙂