As the world becomes more digitised, it’s important for human resources (HR) departments to do the same. To stay competitive in a rapidly changing environment with increased competition for talent, businesses need access to smart technology solutions that will not only save time but also improve the employee experience.

A cloud-based HR solution provides an overview of HR operations as well as improved reporting and compliance accuracy. By digitising time-consuming tasks such as payroll processing or benefits administration, the HR team are freed up from these mundane tasks so they can focus on factors that will differentiate the business and make it appealing to the best talent.

 

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Payroll professionals find it challenging to stay on top of ever-changing legislation and remotely implement these legislative changes. New regulations may impact the business in several ways which include changes to:

  • Unemployment insurance and employees’ tax
  • Pension and medical aid calculations
  • The security of HR data

HR professionals are often stuck working on administration and maintaining employee records. This means there is less time to respond to changing workforce needs and report back to the business on trends and employee development.

For the business, although HR has a goldmine of organisational and employee data, few businesses have visibility of this data and use it to inform strategic decisions. Modern HR solutions offer better data management making reporting and analysing HR statistics simpler.

Payroll ResearchWhat the business gains from embracing cloud technology and analytics
  • By digitising HR & Payroll data in a cloud solution it becomes easier to manage and support the HR system
  • Information can be accessed by management or employees anytime, anywhere
  • It is easier to secure sensitive HR data and remain compliant with POPI data requirements
  • Integration with other systems, for example, time & attendance is simpler
  • It is easy to adapt to a changing environment where updates to employment contracts may need to be rolled out to a large number of employees working remotely
  • It is possible to set up direct links to banks and tax authorities
How payroll is improved
  • The payroll team can spend less time on ensuring they’re compliant with regulations and more time focusing on business-benefiting legislation such as employee tax incentives and skill development levy.
Outcomes from a better-supported HR team
  • Automation and easy access to information means that the onboarding process can be streamlined
  • Reducing the time spent on administration frees up the HR team to focus on career development and building a culture that will attract the best talent
  • Most importantly, easy access to HR information will improve reporting, positioning human resources as a business advisor. The people management team can provide feedback on trends seen in talent acquisition and retention rates for employees.

 

Sage Research

Sage interviewed 600 small businesses (under 99 employees) and 400 medium-sized businesses (100 – 1999 employees) during August 2021. They wanted to find out how these businesses were navigating increasing complexity in payroll, while also dealing with new challenges around remote working and data security. View the Infographic for a summary of their findings.

Get the most out of your HR Department

HR teams are being asked to manage an ever-growing list of compliance requirements, whilst also delivering modern HR services that engage and retain employees. This is where HR technology comes in. By automating HR processes and providing real-time HR insights,  technology can help businesses to drive efficiencies, improve compliance and engage their workforce. And, with the war for talent hotter than ever, businesses that embrace HR technology will be in a strong position to attract and retain the best talent. So, if you’re looking to give your HR team a competitive edge, investing in HR technology is a great place to start.