Want happy employees? Your people are your biggest and most important asset when running a business. People are more invested in their employer when they feel appreciated, valued and properly compensated for their work.
It’s up to you to create a culture that encourages your employees to thrive. Setting up the structure for a happy workforce requires a lot of moving parts, such as getting payroll right on time and error-free, staying on top of compliance, and setting up a benefits package, to name a few.
It’s a big responsibility with very little room for mistakes. But don’t despair. To help you with this, here are some tips to help you overcome payroll challenges, keep people management running smoothly and maintain a happy workforce.
1. Recruit, retain and reward employees with a benefits scheme
Look at your employee benefits scheme as a tool to keep your employees energised and performing at a high level. Your scheme should provide benefits that appeal to your workforce’s interests.
For parents with young families, Tax-Free Childcare is likely to be popular. Older workers may be more focused on healthcare and pensions.
You can easily ask your employees which benefits they prefer and aim to offer as much as your budget allows. Picking a scheme that offers some flexibility is a good idea.
Research the top-rated suppliers that offer those benefits to build a shortlist and narrow down your choices where those criteria intersect.
2. Use software to stay on top of payroll and HR
Software these days is so easy to download and install. There are built-in wizards to guide you step-by-step through your set up, and useful tutorials on YouTube for most problems as well as good training programmes with the providers.
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Cloud payroll software and cloud HR software make it easier to zip through tasks such as processing leavers or new employees, tracking holiday, sick pay, maternity pay, bonuses and so on to ensure your staff are paid correctly and on time.
Payroll software can also handle auto-enrolment pension requirements.
