Large organizations with complex human resources departments outsource HR processes, reporting, and software solutions to companies that are positioned to handle these very specific and often difficult tasks. This third-party management is often referred to as HR shared services or HR Service Delivery (HRSD). Examples of HR Shared Services include recruiting, talent management, data analysis, employee sentiment prediction software, payroll, and overall human capital management (HCM).
Benefits of HR Shared Services
The HR department is more efficient when armed with the best possible HCM solutions and resources. Large organizations can gain the following benefits from a HR Shared Service model:
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Free yourself from updating tax tables, submitting reports and making payments etc. By outsourcing payroll, you can free yourself from such woes.
Your highly trained, dedicated payroll specialist is the single point of contact for all your payroll and tax needs.
The direct costs of payroll processing can be greatly deducted by working with an efficient payroll service provider in India. Moreover, cost saving for the company on outsourcing payroll processing is extremely significant and it can go up to 500% at times also.
Today, DNA & Co. is best third party Payroll Company in India reckoned by various companies, across the different region irrespective of size, as a trusted partner who offers cutting-edge yet simple to use solutions. Take a sneak peak of our payroll services: -
10 Years of experience in payroll industry and one of the largest payroll service providers.
Our payroll Consultants abides to all the statutory laws
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Payroll outsourcing is the act of delegating payroll administration to third party having expertise in payroll processes. Generally companies outsource their payroll functions to cut costs, and to get better services.
Adherence to statutory compliance in relation to Online payroll services. Assistance in combating with tax related issues.
Our online payroll services in India take the complexity out of expatriate payroll management, streamline the entire process between local payrolls and expatriate.
We offer a complete range of business organizational planning and consulting services right from creation of legal entities to procedural compliance.
Online payroll processing service provides access to timely, accurate and secure data.
Compliance is an ‘affordable must’ for business of every type, regardless of the size or purpose.
Payroll encompasses a good share of a total company’s expenses, so to ensure a decisive share of a company’s total expenditures.
Any gap in compliance on wage entitlements of employees could land a company in trouble.
The company may end up having a financial implication or a risk of prosecution or IR issues triggered. Even a small non-compliance could cause significant damage to the reputation of the company.
DNA & Co. with its expertise, adequate skill sets, Pan-India presence, well defined process and with appropriate technological support could facilitate Payroll Compliance Services (PCS). The spirit behind the following legislations would be taken care of through this service:
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Our presence in all the States and Union Territories of India are well recognized as Pan India experts in dealing with the complexities of
Labour Law Compliance and Industrial law Compliance. Our large list of clientele ranges from Start-ups to Industrial Giants to Multi-national Companies to reputed Corporate houses across all industries, regions and segments. Our cost-effective solutions are designed to address all your current and future compliance requirements. Our operations and services are guided by professionalism and principles that stem from our core values and business ethics: integrity, trust, continuous learning and partnering progress. Our goal is to build enduring long term relationships with our clients by partnering with them for mutual growth and benefit.
Our team of renowned experts understand the complexities of Labour law compliance and Industrial compliance laws in India. They are qualified professionals from varied backgrounds including Regulation, Compliance, Legal, Technology, Risk Management and Human Resources. We are committed to achieve 'CUSTOMER DELIGHT' by offering highly knowledge driven services through well-defined processes, customization and professionalism. We ensure continual improvement through total employee involvement and knowledge enhancement.
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Payroll mistakes can happen faster than you think. For a moment, think about the employees for whom monthly salary is the only source of income. Imagine what if the salary is not paid accurately or there is a delay in releasing salary. 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 labor law, PF, PT and other statutory compliance is also critical. Non-adherence with 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 proper understanding of what payroll is and how to run payroll effectively.
Integration with Time, Attendance and Leave Management System
Typically this module is used to track time spent on projects or specific activities. Consulting firms such as audit firms, specialist doctors, etc., who manage critical projects require a robust time management module for tracking time and at times this data may also be used for billing clients.
While most small organization go for manual attendance system, medium and large organizations have started using smart automated tools such as biometric method, auto-tracking via system log-in, access cards, iris capture, etc. The data is stored in a system and linked to the payroll software that uses this data to calculate attendance days, overtime, etc. For seamless payroll processing, check that software supports attendance management and is configurable with access control machines.
In every organization, employees are entitled to take a certain number of leaves such as privilege or annual leave, casual leave, sick leave, holiday, etc. If the software has leave management feature, HR can directly credit these leaves to the account of every eligible employee. As and when required, the employee can apply for leave through the system. A good system should also be able to define a workflow to notify the employee’s manager for either approval or rejection. A robust payroll software with built-in leave management feature can help attain accurate payroll.
Regardless of size, most businesses are growing at a fast pace. It’s for that reason leaders within these businesses realize see many of their internal services hit their limit. HR is not immune to this effect.
HR Shared Services is a strategic way to provide HR-related services to an ever-growing employee base. And it comes with some advantages such as continuity and efficiency. Here are seven advantages to following this type of strategy.
When a company expands rapidly, leaders often find a fair amount of redundancy in the HR department. In some instances, work is duplicated over several people or different departments, and sometimes, these different HR entities are using different software to manage the same task. By consolidating these tasks and software under one HR shared services team, most companies will see an increase in efficiency and cost savings.
A growing company must have an HR team that goes with it. If not, most will see a drop in efficiency. Under a shared services strategy, tasks that warrant such an action can be transferred to people within the HR hierarchy that can take over such duties. One example would include payroll processing. This frees up other HR professionals on the team to focus much more attention on people and talent pool development.
Continuity is a big deal as companies continue to expand. Following an HR shared services strategy allows for processes to be undertaken in the same way each time. A good example of where this can be successful is through the onboarding of new employees. In this manner, each employee is onboarding with the same proves and standards as the co-worker before them.
Employing an HR shared services approach allows for companies to focus on more strategic tasks. Those include tasks such as talent management, human capital development, recruitment and retention. All these processes are of significant importance to the company’s growth strategy.
With the previously mentioned tasks in place, companies can focus on recruiting and developing an intelligent talent pool to help build a better business and increase positive business outcomes. Bettering the talent development processes allows for continuous engagement, rewarding and retention of the talent pool.
With using an DNA & Co. strategy usually leads to a faster service. That means employee requests are filled more quickly and employee questions are answered correctly. This kind type of service means employees have positive interactions with HR. Fostering positive interactions between employees and HR supports a better employee experience across the organization.
Moving HR to a shared services strategy is an investment. Through an DNA & Co. services, companies can automate processes, reduce manual tasks, and centralize information, which means that less time and resources are required to resolve a request. And saving time on manual and redundant tasks enables HR to spend more time, as previously mentioned, on strategic work which leads to a higher return on investment