Payroll Data Is The New Intelligent Data! Find out how!

Business decision-makers continuously strive to figure out ways to stay updated with current trends, their internal processes, expenses, etc. In that case, intelligent analytics and data can help them make well-informed decisions. Many believe employee performance and related details would be all they need to evaluate and improve business processes. But, there is a big block missing and that is the PAYROLL DATA.

Most decision makers don’t consider using payroll data as an information determiner, but that’s where they are making a big mistake. There are number of ways where this data can help you improve process and outcomes.

Time-tracking Helps Determine Workforce Adequacy

If your employees are increasingly doing overtime, then this will enable you to determine if they are over-burdened or are less productive! When regular overtime hours are shown, this means that you have a workforce shortage and that’s why the employees are over-occupied with their work. If the situation goes unnoticed, then this might result in more frustrated employees with increased attrition rate.

Moreover, reviewing past data will also help you judge the situation closely that whether the shortage is seasonal or you have an inefficient or slow hiring process. As a result, you can employ change measures for improving the situation.

Performance Data Coupled With Payroll Data

Compensation is not the only employee performance driver. But, pay and performance go hand in hand. If the employees are paid well, this will definitely get reflected in their performance. Also during the hike cycle, employee performance must be analyzed properly so that well-informed pay raise decisions are made. If you have a centralized data with all the necessary information, then you can better plan your pay raise strategies and bonuses.

In addition, you can also evaluate the impact of these appraisals and bonuses on Employee Performances.

Better Budget Planning

Usually HR budgets are decided taking into consideration the financial reports of the previous year and the results. But if you do not take into account the payroll data, especially if the appraisals occurred during that period, then you will probably end up making wrong estimations and goals. You can use the previous year’s payroll data to evaluate how much money was paid to employees as salary out of the total budget allotted for employee management. This will help you make more realistic budget plans.

Therefore, your payroll data has multi-fold benefits and it can help you take a complete overview about how your organization works. Having a well-integrated HR and Payroll Management System can make your task of using this information much easier. With all data at one place you can not only make wiser decisions but can save time commendably.

Redefining The Traditional Team Model

(By : Prateek Sharma)

From our childhood days, we have been taught to adapt synergism at all stages; sometimes with mutual agreement and sometimes forced, but we all have that spirit running in our veins. 

Being a part of team boosts an individual’s potential to foster a meaningful and fulfilling way of working together. Engaged with a group of people having a common goal, on a worthwhile activity, can prove to be one of the most enjoyable and rewarding aspects of work. 

But what if the team model we knew from all these years is broken? 

By employing clever behavioral economics and considerable motivation factors, a team successfully works together and every member contributes his/her part to the fullest. But it’s not compulsory that each of the member shares great camaraderie with everyone or, say, “were friends”.

For instance, take the technology industry for consideration, where team structure has been given an entire new meaning with the introduction of agile methodology, regular scrum meetings and iterative development. This, along with social media communities, groups, lists and circles, minimized the need for fixed working routines, forced organizational charts and pre-defined seating plans, for the teams to perform better. 

As a consequence, the team rules have been rewritten and member roles are seeing major shift from a fixed to fluid deployment. 

Now is the era of teams who assemble for a fixed purpose, work according to common vision, analyze, plan, build, test, fix, release and then disassemble and perform the same cycle somewhere else and with someone else. 

Withal, being friends with team members could be difficult in this kind of working environment as people are rapidly moved to various teams as per requirements. However, it is quite possible that if any individual don’t feel comfortable in other teams then his/her performance might degrade considerably.

Thus, the need of the hour is that employees sideline their emotions at workplace to successfully adapt to the current culture. However, the sense of teamwork should definitely exist but it must not be confined to just one team. “Comradeship isn’t de rigueur in team for assured success; the team’s success depends on how its members perform together and arrive at their destined goal.”

Prateek Sharma is the Product Owner @TeamWise ( All in one HRMS Solution ), where he is responsible for technically administering and handling all products and features. With over 6 years of experience in software industry, Sharma is a master in applying product development technologies and devising innovative business strategies.

Make Them Organizational Pillars, Not Just Your Employees..!!

The war for talent is always on! No matter what industry it is...Even if it is the most sluggishly growing sector or the one experiencing modest growth, competition for acquiring talent persists everywhere!

Majority of companies have big concerns regarding who will be their future leaders!!. According to a recent survey, only 15% companies in Asia believe that they have such talented employees within the organization that can be said to be satisfactorily qualified to be the successors of top positions.

All the C-suites are busy devising new strategies on creating succession plans for filling their key positions. But, the most common strategy is to hold programs that focus on “high potential” employees, who the company believes will be the future successors.

For an effective talent management, you need to use strong talent development programs. These entail:

Strategic Talent Development Programs: These programs should be well-aligned with your corporate strategy instead of using a cookie-cutter approach.

Selecting Candidates With A Long-Term Strategy: Assess each and every candidate through a combination of angles and aspects, so that you don’t end up hiring short-term employees that waste your time, energy and resources on training them.

Rotate Talent: It might happen that you hire someone for one profile but he seems to be more than perfect for the other. Rotate such candidates to achieve new heights and business growth.

Honest Communication: This is very important to transform your current employees into future leaders and pillars of the organization. Keep clear communications with your employees allowing them to know what’s exactly going on!

You must ensure that your organization is religiously following these practices through an efficient Talent Management System as that of TeamWise, that makes sure you get your business successors right here!

Is Your Organization Facing Leave Sickness??

Unscheduled employee absences and leaves paralyze the organizational workflow and disrupts the whole work environment. Thus, to reduce the impact of these unplanned absences, organizations must have well-written and specified policies that restrict employees from de-railing the healthy and dynamic working environment.

Bridging the Gap Between Human “Capital” Management and Human “Resource” Management..!!

Do you find any difference in referring ‘Human Resource Management’ as ‘Human Capital Management’?

Well! The common answer will be NO, but, there is a HUGE difference in both. While Human Resource Management is just related to acquiring and managing workforce, Human Capital Management works on a different approach. In HCM, employees are considered as the most important asset in an organization and their value is measured and enhanced through different strategies. 

The basic HR principles and legal tits n bits remain same while the execution of strategies changes in a way to give more benefit to employees. TeamWise, emphasizes on the same concept that bridges the gap between ‘not-so-emotional’ HRM and a strategic HCM to build and manage talent! 

TeamWise is specifically and cautiously designed keeping in view the interests of employees. The quintessential HR functionalities are incorporated along with different elements that clearly reflect changing dynamics of today’s workforce and their needs apart from basic corporate necessities.

These elements are basic, yet very critical for engaging your workforce and to enhance the level of commitment and dedication towards the organization. The only focus is to change the very notion of treating employees as just resources…and not as “Human Resources”!!

Take care of your most valuable asset… “Human Capital”!!!