Many organizations anticipated the need for efficient HR payroll software to minimize workload and increase efficiency during the COVID-19 phase. Since the pandemic called for extreme measures in business processes, remote working became necessary, and it came with its own set of challenges.
Organizations relying on manual methods to monitor attendance and manage employee records had to suffer. On the other hand, several organizations adopted an effective payroll software system and adapted to its functioning.
Now that employees have adjusted to the new normal of working from home, the biometric systems have become of no use. You can mark your attendance through the HR payroll portal itself, and it turned out to be an efficient way to manage employee records. Modern HR payroll software comes in handy with several features that simplify employee onboarding and other tasks.
How Has COVID-19 Changed The Payroll Software System?
Since the pandemic affected businesses, many organizations have had to restructure their business and cut short on expenses. The focus shifted to sustaining the course rather than earning profit margins. It’s valid in the case of small businesses that aim at just surviving the pandemic. Let’s understand how the pandemic outbreak has changed the payroll software system.
The need for payroll became crucial.
One cannot ignore the need for employee payroll software in India. You could see a dire need for efficient HR payroll software to manage the salaries of a large number of remote employees. You may have contractual employees as well. During the COVID crisis, every organization thought of streamlining the payroll process and how to disburse salaries. Many organizations facilitated their employees with the digital payment process and avoided printing checks.
Adapting digital processes
As discussed earlier, manual methods to track attendance and employee records were of no use in times of COVID. Still, the businesses are dealing with this uncertain phase, heading towards digital offerings. Earlier, your finance and accounts team may have needed a second opinion and in-person interaction. As it was not possible for the last few months, many organizations have adapted to paperless processes. It includes in and out punching, leave requests, rotational shift changes, etc.
What’s next?
It’s interesting to know what the future payroll trends hold for employers and employees. To be precise, there will be more stress in introducing a financial wellness program. You must have heard of layoffs and downsizing at the beginning of the COVID crisis. Now that businesses are returning to normal gradually, the focus will be on retaining talent. Employees are stressed and may look for other job options. However, you can introduce a financial wellness program that offers gratuity, flexible paydays, student loan help, etc.
Another thing to look forward to is vendor support through the payroll software system. Now, organizations will likely stretch in terms of customer and vendor support. How customers and vendors communicate will be the area of focus, and organizations will have to streamline a proper channel to ensure that the customers remain satisfied.
It’s a no-brainer that innovative payroll solutions will be in demand shortly. If you’re considering switching to an efficient HR payroll system, we can help. Timelabs is an all-inclusive HR payroll software system that comes in handy with an employee self-service portal. It aims at bringing efficiency to HR processes and improving employee productivity.
