Why SMEs must automate routine HR tasks
BEING a small business owner or the CEO of an SME is chaotic, especially when it comes to things that are not critical to your business. Human Resources (HR), for example, is a prime example.
HR is typically one of the most common divisions that fall in the non-core business category for new business owners and CEOs.
However, as they mature, they realize that managing talent and staff is actually crucial to the success and longevity of the business.
“Take care of your employees and they will take care of your business. It’s as simple as that. Healthy, engaged employees are your top competitive advantage.” – Richard Branson #CompanyCulture pic.twitter.com/aEsM6KDLbY
— Zappos Insights (@ZapposInsights) February 15, 2018
Payboy founder Nigel Lam speaks to Tech Wire Asia from experience:
“Companies that are smaller in size such as SMEs and startups often just wing it when it comes to routine HR processes. While this may seem to save the most time at first, it can very well end up coming back to bite you later on.”
Fortunately, technology has a few solutions that can improve the support provided to employees, and reward them for being the superstars they really are. Here’s where technology can make the biggest impact:
Recruiting and onboarding
When you’re looking to hire a candidate, you need to track several applications and correspondence with each individual. It’s important, especially if you’re just starting to build your team.
Once you’ve hired someone, you need to make sure you get all the paperwork in order, each document, registration, filing is important and missing out on even one could get you fined by the ministry or the labor office.
Payroll, benefits, and taxation
Every month, you need to be able to calculate the commissions they’re eligible for, the reimbursements they have claimed, and all additional payments that accrue to them. You need to then promptly add it to their salary and pay them quickly and effectively.
You also need to be able to account for the taxes, deduct what is necessary, and then remit to the government, in a timely manner, everything that is owed to them.
Timesheets and performance management
Your employees join your company and must be paid for their time and for achieving their key performance indicators. However, it might be difficult to track it for each and every one of your employees, especially as your team grows.
Using cloud-based human resource management systems, you can automate these and several other tasks within the HR division of your SME. Deskera, Unit4 Prosoft, HR Cloud, Payboy are among some of the solutions providers who can help you automate HR functions.