Now, more than ever, the health and wellbeing of your workforce is considered one of the most crucial elements towards a successful company and let’s not forget, it’s also morally imperative. After all, happy employees are going to, in turn, be more efficient and productive, so it begs the question:,why aren’t more businesses finding new, innovative ways to enhance their health and wellbeing strategy? According to Mates In Mind, sickness absence costs companies £8.4 billion every year, but presenteeism is a more costly issue, accounting for 1.5 times the cost of absenteeism. In other words, if your only focus is…
One of the biggest challenges that continue to haunt many organisations, is the prospect of finding a suitable employee with a driven attitude for success and energy that provides value to the business’ culture. With this in mind, it will come as no surprise to learn that 46% of all new hires are deemed failures by the time they reach their 18-month milestone. Is this starting to ring any bells? But even this statistic fails to put into words the impact a poor hire can have on an organisation. The Recruitment & Employment Confederation (REC) outlined that more than a…
While processing payroll can be one of the biggest sources of frustration, it is unequivocally one of the most important parts of your business. Your employees are your most valuable asset, and as such, they deserve to be paid correctly and on time. While payroll is often the biggest expense for a company, it can get even pricier when mistakes are made. Making mistakes when running payroll can be costly not only to your employees, but to your business too – both financially and reputationally. Such mistakes might include overpaying or underpaying tax, paying employees late or incorrectly, making incorrect…
In a world where numbers and metrics determine success, it’s essential to develop and track key performance indicators (KPIs) to show that business objectives are being achieved efficiently. Organisations use high-level KPIs to focus on the overall performance of the business. Meanwhile, low-level KPIs are prominently used to target processes in different departments such as finance, payroll and HR. Whether you’re a standalone employee or part of a larger payroll team, these payroll performance metrics will provide you with the knowledge to track the success of key business objectives, ensure payroll resources are distributed correctly and help support your employees….
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