HR and Payroll, as major determinants for employee wellbeing, are as essential as they are time-consuming for any organization. The gap between human resources ambitions and actual applications has always been wide when we factor in the cost and inflexible nature of HRM software. According to Gartner, 36% of HR leaders say they do not have the resources to recruit top talent.
However, large-scale enterprises have quickly begun automating their HR operations, including payroll. With enterprise-level resources available, the transition for an end-to-end HRM is not difficult for them. Whereas SMBs are often left grappling with extensive HRM software that are too over-the-top for their business needs.
The pressure on the HR managers in SMBs is tremendous. They are forced to wear multiple hats and carry out multiple tasks from hiring the best professionals, carrying out the onboarding processes and updating all employee data to maintaining a functional payroll.
This blog lays down an in-depth discussion on most common HR problems faced by SMBs and discusses a highly functional solution that is cost-efficient as well and automates HR operations for SMBs on a scalable level.
DS Payroll 365: Dynamics 365 HR and Payroll Add-On for Business Central
Business Central is an ERP (Enterprise Resource Planning) management system that caters to SMBs ERP and other operational needs like relationship and opportunity management. As a sophisticated business management solution, Business Central caters to diverse operational needs for SMBs and extends their reach to enterprise-level tools and functionalities. By employing Business Central for their management needs, SMBs enjoy cost-efficiency and scalability as an added solution.
Even though Business Central provides some Human Resource Management (HRM) capabilities but they are very surface level in nature. DS Payroll 365 is a highly customized add-on for Business Central, thoughtfully developed by Dynamic Solution and Technology. It seamlessly automates HRM tasks and operations and caters to organizational employee lifecycles as well.
Discussed below are some of the common HR problems faced by SMBs and the specific DS Payroll 365 features that address these problems on a ready-to-implement basis.
Payroll
As an integral aspect for employee satisfaction, payroll management ensures employees get their salaries and financial compensations timely. However, payroll errors are one of the most common problems faced by small businesses. The lack of sophisticated tools and proper training is a major reason behind these errors. Moreover, keeping track of absences, short and unpaid leaves for remote and on-site employees is a major feat, that requires seamless execution. But manual calculations often cause discrepancies in employee pay and results in frustrated employees. Did you know it only requires two errors in payrolls for employees to start looking for other jobs?
Below mentioned are some of the features of DS Payroll 365 that aid in optimizing the recruitment process.
DS Payroll 365 Payroll Calculation and Processing seamlessly calculates and processes their monthly financial dues i.e., salaries in accordance with the unpaid leaves (if any), tax deductions and monetary compensation for company benefits.
DS Payroll 365 Payroll Reporting DS Payroll 365 creates need-based reports for compliance authorities or employees. They feature the gross pay, net pay, overtime, deductions, and taxes withheld. It efficiently breaks down the entire pay into its parts, for clarity.
DS Payroll 365 Payroll Employee Separation and Final Settlement processes the end of employment dues which the employee is entitled to i.e., End-of-service, EOBI, retirement bonus etc.
Recruitment
SMBs, rarely have the resources to hire dedicated teams for their separate operations, hence, they are dependent on highly efficient individuals to get the job done. Finding such individuals for SMBs becomes a lengthy process and costs a lot as well. The process also takes up a lot of the recruiters’ time and energy and often yields unsatisfactory results.
Here is how DS Payroll 365 can help your organization in optimizing their recruitment process.
DS Payroll 365 Recruitment Management efficiently automates menial recruitment workflows like posting job ads on multiple forums, directing applicants to screening questionnaires and other formalities before interviews. It also tracks applicants on their recruitment journeys, in compliance with recruitment regulations.
DS Payroll 365 Integration with Recruitment Websites offers integration with recruitment websites to expand the audience. It also ensures that organizations can reach the right candidates faster and through trusted sources.
Labor Laws Compliance Issues
Labor laws and regulations are region and industry specific and tend to change frequently. SMBs do not have extensive HR teams to stay up to date on the labor laws and keep implementing compliance-friendly measures in the organization. Lack of financial resources also leaves them unable to navigate through the testy waters of regulatory compliances.
This lack puts them at greater risk of lawsuits and penalties, which prove to be a great hindrance to their growth. The following feature acts as the organization’s aid in
DS Payroll 365 Statutory Compliance and Company Specific Tax Calculation ensures the organization is in strict compliance with the laws and regulations for their industry and region. It also ensures fair treatment of employees and eradicates any chances of employee exploitation. The tax calculation module calculates the income and other taxes to be paid by the employee and the organization respectively and automatically updates the payroll if necessary. This feature acts the SMBs’ legal consultant and ensures the organization stay out of any legal problems.
Employee Wellbeing
Keeping employees satisfied during their employment periods is crucial or retaining employees and keeping them productive. Many factors ensure employee wellbeing and all of them must be simultaneously taken care of. These factors include positive company culture, stress-free working conditions, physical health, and fair wages.
SMBs and their lean HR teams, unfortunately, lack the time and resources to ensure and manage these factors simultaneously which results in over-worked, frustrated, and unhappy employees.
DS Payroll 365 Employee Self Service allows employees to view information regarding their leaves, company policies and other aspects for which they would usually be dependent on their HR representatives.
DS Payroll 365 Competency and Learning Management enables employees to gage the skills necessary for them to flourish in their career and performance. The learning management module gets the employees the resources needed for their learning and development.
DS Payroll 365 Organizational Health and Safety as a multidisciplinary module focuses on employees’ safety, health, and well-being at the workplace. It mitigates any safety risks and establishes a proactive health management system to ensure employee safety.
Amplify Your Employee Experience with Dynamics Solution and Technology
A successful HR strategy ensures that employees are satisfied and can focus on work without worrying about internal factors. Digitizing your organization’s HR and Payroll operation is a transition from traditional delivery to high-impact one. A digitally transformed HR focuses on two core aspects i.e., attracting the best talent and transforming and retaining current employees. By implementing a digitized HR and Payroll Solution, organizations can:
- Enjoy workforce consistency
- Quickly execute HR workflows
- Empower and satisfy employees
- Propagate a culture of fairness and transparency
Dynamics Solution and Technology emerges in this digitally enhanced landscape as your trusted ally and powerful implementation partner. With our team of trusted resources and seasoned industry experts, we provide the best implementation services and empower organizations through their digital transformations. Our status as Microsoft Gold and Solutions partner is a testament to our unwavering commitment to excellence.
Contact us now and implement a high-impact organization-wide HR strategy and position your employees at the center of your success!
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