Payroll Process ---------

Strategic Plan for Employee Compensation and Benefits

A strategic plan for employee compensation determines how much you want to pay employees and what type of employees you want to attract. Your compensation plan entails a variety of aspects including pay scales, reward programs, benefits packages and company perks. A successful strategic compensation plan allows your business to compete in the market for the best employees in your industry.

Attracting Quality Employees

Your strategic plan for compensation plays a large role in attracting competent employees. Paying wages at or above the prevailing wage in the market for your company's industry allows you to demand workers with more experience and positive work histories. Employing more qualified workers leads to better results, including higher productivity and customer service interactions. This can increase your company's revenue and help your business establish its identity with consumers.

Rewards for Performance

A compensation strategy may also include rewards for employees based on workplace performance. This may include a commission-based system that rewards employees for total amount of sales or for consistent positive feedback from customers. A reward system should be easy for employees to understand and attainable enough at its lower levels to encourage employees to work harder to reach higher goals. A reward system with performance levels too high for employees to reach early on in the process won't encourage harder work because employees will simply ignore it.

Encouraging Employee Retention

Retaining quality workers requires a strategic plan for compensation that rewards employees for company loyalty. Compensation based in part on seniority with the company shows new employees that your business values workers who choose to remain with the company long-term. This encourages new employees to make a commitment to build a career with your business and deters established employees from jumping to other companies. Experienced workers will think twice about pursuing another opportunity if the new job also comes with a pay cut.

Perks and Benefits

Perks and benefits can make or break your company's ability to attract the best and brightest in your industry. Offering health insurance benefits to full-time workers should be a goal of your strategic compensation plan. You can combine health insurance with other company perks, including paid holidays and guaranteed paid vacation time, to attract more qualified workers to your business. Your decision to offer these benefits is also contingent on the success of your company. You may choose to add health care coverage and paid time off to your benefits package only after your company is showing profitability or makes it past the first year.

PREHR -NIKHIL

Welcome to the PREHR Digital HR Professional Learning Network!

Welcome to the PREHR Digital HR Professional Learning Network!

The Digital HR Academy offers a variety of online HR /Payroll professional development opportunities focused on the Current Practical HR Standards and the Smarter Balanced Assessment … Please check back regularly to see of new options becoming available.

WHAT’S SO SPECIAL ABOUT Our HR DIGITAL TRAININGS?

• Hand-on Exercises - 70 % of training time is dedicated to hands-on exercises. We want to ensure that you really get grounded in our the Subject matter
• Case Study based course material - Our Course is based on latest case studies. We do not believe in giving gyan and generalisation. In our trainings, we will discuss and conduct inquiry into lots of case studies. That will help you to understand how HR/Payroll  is actually getting implemented.

Topic to be covered –

1) Indian Payroll Management

2) Recruitment & Selection

3) Statutory Compliance Management

Call For more Assistance & Syllabus, Online Academy Details.

call - 9860422727

EXPATRIATE Payroll -PREHR

International & Expatriate Payroll

This course covers all of the issues a business needs to know when dealing with international employees.

Whether you are:

• bringing foreign nationals to work in the India
• posting Indian nationals to work abroad
• running local payrolls in other countries

Our course will explain what you need to do, and when. With globalisation of business, the international secondee is becoming the norm in companies from large to small. Indian employer obligations will still apply to many of these employees – make sure that you don’t fall foul of the rules.

The course can also be run as an in-house programme, and can be tailored to include legislative detail on the particular jurisdictions you work with.

Call - Nikhil   9860422727

PAYROLL Certified

www.prehr.com

Career as Payroll --Job Responsibility of Payroll Administrator -Blog-Nikhil Konde

As a payroll administrator it would be your job to make sure that people are paid correctly and on time. If you're good with numbers and would like an important role in an office, this job could suit you.

You will need to manage your time and be organised so you can meet strict deadlines. You'll also need to pay close attention to detail and work accurately

The work

As a payroll administrator you would make sure that people get paid on the right date and receive the correct amount of money. You could work in a company’s accounts team, or for a payroll bureau that provides payroll services for other companies. You may be working to strict payment deadlines.

Your work would usually include:

• checking how many hours employees have worked
• calculating and issuing pay by cash, cheque or electronic transfer
• deducting tax and PF,ESI,PT,LWF 
• processing holiday, sick and maternity pay and expenses
• calculating overtime, shift payments and pay increases
• answering staff queries about timesheets or pay slips
• issuing FORM 16and other tax forms.

You will have an understanding of the legislation and rules in areas such as tax payment and exemption. You would also be offering advice on which forms need to be used in different situations. For instance, claiming maternity pay or a tax refund.

You may also provide assistance to the human resources department within your company. This could include offering payroll support to new staff and completing paperwork for staff who are leaving ,Full n Final Settlement.

You may also be expected to do general administrative work such as filing, photocopying and typing.

In some jobs you may also be known as a payroll clerk.

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Hours

In a full-time job you would usually work, 9am to 6pm, Monday to Friday. Part-time and temporary work are both widely available.

You would normally be based in an office. You could spend most of your time working at a computer.

Call For More Info & Career -  Nikhil  9860422727  

TRUST -- Recruitment Process

The importance of trust

From the beginning of the recruitment process, there should be clear and honest communication between the employer and the candidate. As websites like Glassdoor.com become increasingly popular with job seekers, millennials can find out what kind of an experience they can expect during their application process and companies should ensure that theirs is both enriching and transparent at every point for the candidate.

Ultimately the main point I took from talking to the graduates was that company recruiters need to think like brand managers. This is crucial.

Employees are perhaps the most important brand ambassadors that a company has: by creating a strong, positive and, dare I say it, fun employer brand, you’ve created the best advertisement to attract graduates. Google experiences around 10,000 applications each week because of their clever employer branding; theirs is surely the shining example for other employers aspiring to attract millennial attention.

Reputation is everything, and by showing an understanding and a response to the interests and needs of the candidate demographic, employers can ensure that they will be approached by dedicated and like-minded applicants who will be proud of their place in that company

ELDER CARE AT WORKPLACE

It seems like common sense to recognise that those working for us might need a little extra support to help them with added pressures at home.

Finding new ways to retain our best workers isn’t rocket science. For many, childcare facilities or vouchers make an excellent employee benefit. But what about eldercare?

We’re all living longer - and that means many of us have elderly loved ones who demand more of our time now than they did ten years ago. The moral frustration of having to prepare mentally for a challenging day in the office, whilst thinking about how your mum or dad are going to find their way into the doctors or hospital for blood tests - or worse still, how they’ll get through the day without you - makes for an anxiety-ridden existence.

As employers we know this. We have a growing number of colleagues facing the rigours of caring for an elderly loved one whilst doing their utmost to make it into work and look like nothing’s amiss.

So how can we provide support when they need it most?

Introducing the concept of eldercare into the work environment.

More and more people are finding themselves in a situation where their elderly parent or parents can no longer cope independently in their own home. It is not something people like to think or talk about - so planning for this kind of situation is quite rare. 

And, when it does happen, many find it difficult to ask for help. They see colleagues breezing into work without a care in the world - and admitting they’re struggling to cope can be stressful. They feel it could be viewed as a weakness.

Are they right - are they dispensable?

Absolutely not. In truth, businesses need them. They’re good at juggling, determined to meet their obligations, both at work and at home. And they don’t give up easily.

So how, as employers, do you offer help to those who don’t ask for it? You communicate. The culture of any organisation dictates the way we all think. Twenty years ago, the concept of childcare was viewed as an irritation by many - particularly for those without children. Now, it is an accepted - nay demanded - part of any UK human resources policy.

Anyone applying for a job will know whether their prospective employer offers childcare. It is practically thrown at them as a positive benefit. They’ll be able to come into work and drop their offspring into a purpose-built onsite nursery, not 100 metres from their desks. Who could refuse a job within a company that offers that? It provides them with reassurance that their new bosses will care and support them - and that nothing is too much trouble. Childcare provision ranks alongside pay and leave when it comes to choosing who to work for.

Now it’s time to do the same with eldercare.

Bring in the experts.

Business leaders don’t look after their employees’ children whilst they are at work. They call on the experience and expertise of fully qualified and regulated childminders to do the job for them. And there are similar schemes in place for eldercare.

It is possible to introduce eldercare as an employee benefit - giving workers access to helplines and specialists who can advise on and manage the needs of elderly relatives. These schemes are comprehensive and look after everything - from talking through the possibility of extra care at home, to discussing the stressful fact that parents can no longer cope independently and may need to move into residential care.

Eldercare services also provide access to qualified financial advisors, specialising in care fees planning and the financial affairs of older people as well as hands on support when dealing with property and personal possessions. And solicitors for the elderly stand by to ensure all legal safeguards are met.

Let’s start at the very beginning.

When the recruitment advert goes in. Highlight the fact that you offer eldercare as a specific business benefit. Make sure it’s right up there with the other sought-after extras. Your candidates need to understand how important it is to you that they feel fully supported and looked after.

You want the best talent and you want them to feel they can focus fully on the task at hand when they’re with you.

Employee engagement

Often, it’s colleagues who notice something isn’t quite right. More times than not, they’re aware of those around them who are in the midst of looking after ill or infirm relatives - even when those people are doing their best to hide it. So they are in a prime position to help. If they’re aware of the support available, they’ll act as the perfect advert.

Making sure everyone within your organisation - not just those you suspect need help - know about what’s on offer is crucial. Educate, not only your managers but your entire staff about how you have made the effort to source and implement eldercare as part of your HR offering.

Eventually, not too far in the distant future, we’ll treat eldercare as a run of the mill benefit. It won’t be unique or special - but it will be an incredibly valuable approach to sourcing and then retaining the very best available talent.

Career in Compensation & Benefits

ROLES..

Compensation and Benefits Analyst

Job Summary

Compensation and Benefits Analysts support the Compensation and Benefits Manager to ensure employee packages are in alignment with company policies and guidelines, are competitive, and are compliant with legal and fiscal regulations.

Successful Compensation and Benefits Analysts are strong guardians of company values and principles. They have strong interpersonal skills and are approachable, responsive, results oriented, proactive, and trustworthy.

Essential Responsibilities and Duties

• Ensure compensation and benefits standards comply with company policies and/or other regulations or legislation.
• Analyze, review, recommend, and obtain approval for changes to compensation and benefits at the country level.
• Assist in development of home country policies and procedures to support the compensation and benefits function.
• Participate in market and salary surveys.
• Monitor reviews of compensation and benefits packages to maintain market positioning.
• Answer employee queries on compensation and benefit matters.
• Coach and assist in development of new team members.
• Participate in due diligence during mergers and acquisitions.
• Coordinate communication of compensation and benefits information to employees and other HR groups.
• Assist in job evaluations and the annual merit process as required.
• Help prepare government filings, plan audits, or other tax-reporting requirements.
• Ensure compliance with Data Privacy and Protection Guidelines.