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A company without a dedicated team is not much of a company, and for Startups hiring the suitable employee is a tough nut to crack. The company, as well as the candidates, must learn about the needs and requirement of the company and proceed accordingly. For Startups the hiring process is even more challenging because they stand against the bigger accomplished business with their large army of recruiters. Yet, there are plenty of ways which would help the startups reel in the best talent for their organization. From sourcing candidates, screening them, interviewing them and finally shortlisting them is a huge task. Inboxes get spammed with resumes which should be filtered according to the needs of the company and the skills of the candidates. The hiring spree should be managed accordingly to lift up the best talent and develop a strong workforce for the startups

Rules to be incorporated for the long run

Let them know

A startup should never mask the needs of the company. They must be transparent about the company requirements and necessities. Huge chaos will be generated in the hiring process and after the candidates are hired. Overburdened with the new responsibilities or the changing environment the newly hired employees might not be able to give their best in the work zone. Moreover, if the needs are clearly stated, a candidate would judge for himself whether they have compatible skills or not. This would save the crucial time of company as well as the candidates.

A Positive Relationship

A positive relationship is something that must be incorporated into professional life. A startup which has a negative attitude brings a bad name to the organization. Although as a recruiter, one must not hire every job seeker, but they can develop goodwill and rapport with each one of them. If a candidate emerges out not to be a good fit for the organization, they must be encouraged to develop the requisite skills and requirements that would help them in future job opportunities.

Have a combination of all

A startup company can not comprise of candidates limited to a particular age group. It requires fresher talent that has raw talent and modern skills which can be further nurtured as the company grows and, it also requires an experienced slot of people with experienced skill sets and deep understanding of the industry.

Take some additional help

The startup hiring process is not a one man army game. Moreover, experiences speak for themselves and hiring the right talent for the startup is developed eventually with practice. An additional consult would never bring any loss to the company. A recruiter can always consult people or dear friends who have hired for the required roles to know the proper hiring steps which include,effective viewing the resumes and the questions that must be asked from a candidate. This would help in the final selection process and one may never know in this whole wide process of recruitment, some experienced or some fresher talent is hired that would take their company shares to the next level.

Companies all over the world are realizing that ‘old-school’ pen-and-paper or even spreadsheet-based HR systems for hiring, appraisals, payroll processing and even retrenchment no longer work. These systems are cumbersome, time-consuming and difficult to optimize.

But what if you work for a company that is determined to stick to such old-fashioned practices?

How can you convince management to adopt new-age Human Resource Management System (HRMS) systems?

By explaining the following 7 advantages – that’s how!

1. Retain high-performing employees to prevent costly ‘brain drain’

An HRMS system like Spine HR Suite can help improve employees’ performance and ensure alignment with the employer’s strategic objectives. It can also help HR design engagement and retention strategies to enhance employee motivation and morale. This prevents employee brain drain and reduces re-hiring and re-training costs.

2. Ease of access to save time, money and effort on payroll processing

HRMS can automate and simplify time-consuming tasks like the calculation of payroll and other financial records related to taxation, arrears, overtime, claims, incentives, etc. This not only saves cost and time, it can also help ensure legal compliance and tax efficiency, and enable organisations to focus on developing their most important asset – their employees.

3. Boost performance appraisal and align employee development with the organisation’s goals

With scalable HRMS solutions like Spine HR Suite, organisations can conduct intelligent appraisals that are comprehensive, up-to-date, data-backed and fair. Managers can identify hidden talents or aspirations and design plans to develop their employees’ potential. Ultimately, this boosts employees’ chances of professional success and helps employers improve their efficiency, productivity and output.

4. Keep employees motivated and engaged

HRMS can track attendance and provide ongoing reviews and ratings on employees’ progress plus comparisons on groups of employees. By automating performance tracking, you can ensure that appraisals are carried out in a fair and objective manner so you can design compensation plans to keep employees engaged and loyal.

5. Continuous improvement through employee feedback and surveys

With HRMS software, you can ask employees’ to provide feedback on the company’s policies, culture or management. This information can provide valuable insights for continuous improvement. And when employees are involved in such decision-making processes, they feel a sense of ownership that keeps them motivated and engaged.

6. Know your employees better and improve transparency in the firm

An HRMS with comprehensive employee-related information can help increase transparency and openness within the firm, which can improve employees’ workplace experiences and thus reduce turnover. When firms have up-to-date information about their employees, they can understand them better and thus design policies and programmes to improve motivation and loyalty.

7. Secure critical data

An HRMS is a reliable way to protect critical data about the firm and its employees. With an on premise HRMS, data is stored behind the firm’s firewall which provides an assurance of data security and control. A cloud-based HRMS provides secure data storage, data accuracy, intuitive interface and ease of maintenance and availability.

To know more about Spine HR Suite, contact us today!

A Human Resource Management System (HRMS) system is a powerful tool to automate manual or repetitive HR tasks. It gives HR professionals the freedom to carry out strategic, employee-oriented tasks that improve productivity, engagement and efficiency.

But did you know that an HRMS can also help you manage performance appraisals and payment of arrears?!

As a company grows, tracking employees’ performance and conducting performance evaluations often becomes onerous and time-consuming. ‘Old-school’ appraisal systems where employees’ performance was tracked through email, face-to-face discussions or even cumbersome spreadsheets are long gone. Now, with cutting-edge HRMS solutions like Spine HR Suite, organisations can conduct intelligent appraisals that are comprehensive, up-to-date, data-backed and most importantly, fair.

1. Provide regular, updated feedback for ongoing development and performance improvement

With an HRMS, you don’t have to wait till the end of the year to provide 360-degree feedback. You can do this on a regular basis in order to:

• Assess their skill sets and harness them for the company’s benefit
• Provide feedback, identify gaps and devise a plan for addressing them
• Recognize training needs for ongoing improvement
• Acknowledge accomplishments and provide rewards for motivation

2. Set and track improvement or development goals

The goal-setting and tracking feature in an HRMS can empower managers to develop their employees’ potential. It can also help them collaborate with employees to identify hidden talents or aspirations and create a plan to meet them. Ultimately, this helps employees progress towards professional success and employers to improve their efficiency, productivity and output.

3. Manage compensation and promotions to keep employees motivated and engaged

Through ongoing reviews and ratings on employees’ progress, managers get solid information to compensate them in an objective and fair manner. An HRMS tool automates the process of tracking individual employees and comparing groups of employees, so those who outperform others can be adequately compensated and even promoted. Knowing that appraisals are carried out in a fair and objective manner can keep employees engaged and loyal to the company.

4. Improve company policies through employee feedback and surveys

An HRMS tool can be used to ask employees to provide feedback about the company’s policies, culture or management. Through this information, companies can gain valuable and implementable insights. And by involving employees in the firm-wide ‘improvement’ and decision-making process, they can promote a sense of ownership and engagement that keeps employees motivated for the long term.

5. Simplified payroll and arrears processing

An HRMS like Spine HR Suite can manage time sheets in order to capture and monitor productive time devoted to each project. Based on this (and more) information, it can even automate tax calculation and calculation of arrears, overtime, claims, bonus, incentives, etc. By automating these time-consuming tasks, an HRMS makes it possible for an organisation to focus on developing their most important asset – employees.

To know more about how Spine HR Suite can help you easily manage your performance appraisals and arrears processes, contact us.

The payroll process acquires a great sense of importance for business, especially from small to midsize range, during any period whereupon the fiscal period of a company is coming to an end. Such tasks as movement of employees inside or outside of the organization, deadlines for projects and final sales push are all compounded by an innate need to ensure that financial requirements to be finalized. Human Resource Management System, in all its encompassing state, is mainly responsible for making sure that all of these concerns have been quite satisfied. Easy payroll facilitation require, however, some proper financial planning to ensure that all employees receive their allotted finances in a timely manner. However, there are some tips, which should be followed to ensure that employees continue to receive paychecks without not having any noticeable burden upon the company’s own assets.

A proper plan additional payroll allotments

It is very important for any financial year to end on a positive note for any company, and this include all aspects of the company’s most direct concerns. Some of these may include effective bonuses, incentives, and other financial allotments, which are quite apart from the job based salaries promised. Under such a scenario, it is very important that all accounting concerns are satisfied well ahead of time. Doing so will allow the HRMS to properly satisfy all possible financial concerns well before the time promised.

The implementation of proper payroll management software

Software has been a blessing for all industries, and perfect for such a complex and exhausting task as disseminating all payroll concerns while keeping the entire status of any form of brick-and-mortar system completely updated. Any effective payroll software would not only ensure that proper maintenance of paycheck concerns are satisfied, but would also keep check with regards to various forms of tax returns and other financial returns that the company might be obligated to satisfy. A great example would be the Spine Payroll software, which effectively ensures that all the payroll concerns mentioned above are met with application of high performing computing technology.

An encompassing assurance of keeping all information detailed but easy to access

For any organization, maintaining the relevant information with respect to every employee is complex and filled with hard work simply because there is so much to do. Moreover, these information pool has a continued to be constantly updated, and yet to be tracked in terms of past status. This points to the extremely essential need to connect Human Resource Information System (HRIS) with the HRMS. A software like Spine HR Suite can ensure that such a state of affairs are effectively managed with no overhead costs being sustained by the organization at large.

Keep the documents ready for additional reviews

Despite the large scale, and often confusing heaps of data that year-end payroll obligations bring forth. It is important to, at least, perform a single all-encompassing review of all the activities that the company has engaged in a comparatively shorter amount of time. Spine Technologies can aid in ensuring that such activities are as foolproof as humanly possible.

These tips would quite effectively help in assuring that all of company’s obligations and promises to every stakeholder has been met with, and the fiscal year could reflect upon the profit and loss figure could be properly and correctly estimated. This would all lead to a new start of planning with new plans and theories, but amongst all of them payroll process should not be discounted for.

Employee retention and turnover are two sides of the same coin. In every company, HR policies and processes cover both joining employees and leaving employees. On boarding and training are critical elements for the former, while exit interviews are essential for the latter.

For employers, exit interviews matter because they provide valuable information in terms of (employees’) perceptions, morale, troublesome trends and problem areas (e.g. bullying or sexual harassment).

For employees, an exit interview can be a tempting opportunity for no-holds-barred venting about their horrible experience ‘slogging’ for the ‘company from hell’. Often, expressing such frustration or anger is likely to be taken as sour grapes or bitterness rather than as constructive feedback.

To avoid leaving a poor impression of you after you leave, resist the temptation to offload, and limit your exit interview discussion to the below elements:

1. Full and Final Settlement

Payroll processing for employees who have resigned and are now serving their notice period typically takes longer than it does for regular employees. An exit interview is a good time to ask for details about your full and final (FnF) settlement – amount, release date, tax payable, etc. Also ask about its break-up – salary, reimbursements, arrears, applicable bonus, etc.

It is also a good idea to ask about the correct contact person in HR or Payroll who can answer any questions you may have about your FnF.

2. Letters of recommendation/reference

Ideally, recommendation letters should already be written before the exit interview so the employee doesn’t have to worry about the impact on their evaluation. However, the manner of your departure can have negative consequences for you in this area so be careful about what you say in the interview. Ask when the letters will be available.

3. Experience certificate

In some companies, outgoing employees can download their experience certificate from the self-service module of the company’s HRMS system. If your company does not use a system, ask your exit interviewer when you can expect to receive it and from whom.

4. Letter of resignation acceptance

Your exit interview may be a formal step to indicate the company’s acceptance of your resignation. It may be preceded by an email from your direct supervisor and HR representative acknowledging your resignation. Some companies also provide letters or send notifications to indicate resignation acceptance. An exit interview is a good time to discuss this document and its contents.

5. Leave balance

Discuss your leave balance and ask if you can either convert your remaining leaves into a monetary payout or if you can utilize them to shorten your notice period.

6. Other documents

Ask about any other documents that you are entitled to, including letters, certificates, pay slips, etc.

To ensure that you don’t burn any bridges, here are some useful ‘exit interview tips’:

• Remain cordial and respectful, even if you are angry/frustrated/disappointed
• Stick to the facts, not opinions
• Include positive feedback

Avoid giving negative feedback but if you have to, keep it general and never, ever make personal attack

Thinking of implementing a Human Resource Management System (HRMS) in your organisation?

Great decision!

By automating a number of repetitive or manual HR operations, an HRMS empowers an organisation to improve its strategic outcomes and long-term business performance.

But what kind of HRMS should you deploy?

Here is a point-by-point comparison of HRMS on Premise Vs HRMS Cloud to help you decide what works better for your organisation.

1. Ease of access and speed of installation

If you have all the necessary hardware and a skilled IT team, then in-house installation of on-premise HRMS may work for you. But if you lack the budget or skills for installation, then go for cloud HRMS. Furthermore, the lack of any on-premise hardware or software makes cloud HRMS installation faster and easier. However, this last advantage may depend on your Internet connectivity. If you don’t have a good Internet connection (required for Cloud HRMS to work effectively), then choose on-premise HRMS.

2. Ease of use and maintenance

Cloud HRMS systems can be more intuitive and user-friendly. This reduces personnel training times. It also makes integration within existing systems easier and therefore less ‘intrusive’ to adopt.

An on-premise HRMS requires manual upgrades and maintenance by in-house IT personnel which may affect your firm’s overall productivity. In contrast, a cloud HRMS provider will take care of all necessary updates and maintenance, taking the burden off you.

3. Data security

An on-premise HRMS provides some data security reassurance and an appearance of control because you have full ownership of data that is secured behind your own firewall. So, if you’re confident about your in-house security and data backup systems, implement on-premise HRMS. But if you feel you cannot manage all your sensitive data, then you may be better off storing and securing it with cloud-based HRMS.

4. Cost differences – short-term vs long-term

With cloud HRMS, the regular subscription or ‘pay as you go’ model is an important benefit. With on-premise HRMS, you have to bear upfront hardware and software installation costs, plus significant costs for preparations, configuration and implementation. Thus, entry cost is often lower for cloud-based HRMS.

At the same time, subscription fees for cloud HRMS can add up and significantly increase its total ownership cost over time compared to HRMS on-premise costs.

5. Business size, flexibility and capitalization of investment

An on-premise HRMS is more suitable for firms with 100+ employees and offers greater flexibility and ease of integration, customization and personalization. Its investment can be capitalized and its value depreciated, which is very difficult to do with a cloud-based HRMS.

There is no right or wrong choice between Cloud HRMS and On-premise HRMS. Both systems carry advantages and drawbacks. Therefore the HRMS solution you select and deploy should primarily depend on your available resources, IT strategy, budget and business need.

Spine HR Suite is an integrated, comprehensive HRMS that simplifies many HR tasks to help firms reduce their operational costs, improve their productivity and enhance decision-making. For more information on how this popular HR solution can benefit your organisation, contact us.

Organisations worldwide are adopting Human Resource Management Systems (HRMS) like Spine HR Suite to automate many activities related to human resources, accounting and payroll. Within HRMS, the Employee Self-Service Module (eSSM) allows employees to carry out many HR-related tasks easily. Thus, an eSSM can save companies many labor hours and improve efficiency and productivity. And because an eSSM empowers employees to manage themselves; it can also increase their engagement and accountability.

An eSSM can help employers with income tax projections – a ‘forward-looking’ process that enables them to determine how much money to set aside for future tax obligations. Such projections can help them avoid getting caught off-guard by an unexpectedly high tax bill. They can also avoid penalties for underpayment of taxes.

TDS in India

In India, Tax Deducted at Source (TDS) is levied on salary income. Salaried employees are usually asked to provide their investment documents at the start of every financial year. Based on this statement, the employer estimates the employee’s taxable income and deducts monthly TDS from his salary.

On a quarterly basis, Indian firms have to submit Form 24Q to the Income Tax department with details of salaries and TDS. Such form submissions are mandatory.

eSSM can help with TDS projections – here’s how!

Here are 5 advantages an eSSM offers to help companies estimate income tax liabilities and prepare accurate financial statements and tax returns.

1. Easy access to employees’ IT declarations

Through eSSM, employees can declare their estimated annual income tax. With this information, employers can estimate their employees’ tax liability and calculate their taxable income. They can then release salaries that are both accurate and fair.

2. Investment proof documents for accurate projections

Like income tax declarations, employees can also declare their investments at the beginning of the year. Towards the end of the year, they can compare their declaration with ‘actual’ and submit relevant investment documents. Both actions help companies with accurate income tax projections. After employees make these adjustments, applicable TDS can be recalculated and applied.

3. Processing of reimbursement claims

An eSSM’s Reimbursement feature enables employees to upload claims. Once these claims are processed; depending on the reimbursement type, employees’ TDS liability or exemption is calculated. Thus this information can also help with income tax projections.

4. one-stop access to payroll data

If the organisation’s HRMS eSSM and payroll systems are seamlessly integrated, payroll departments can see comprehensive and up-to-date payroll data/history in one single, easy-to-use interface for hassle-free TDS projections and calculations.

5. Better projections through data accuracy

An eSSM puts the onus of data accuracy into the hands of the person who knows their information best – the employee himself. Also, because every employee has a unique login profile with stringent password policies, an eSSM offers enhanced data protection and security which can improve projections.

Spine HR Suite offers all these advantages in a digital interactive interface that minimizes paperwork and empowers employees. To know more about Spine HR Suite or to enquire about a demo, contact us.Share

Ask any small business owner about their most pressing challenges and they will definitely say ‘soaring costs’, ‘cash flow problems’ and ‘high overheads’. When spoken in the same breath as ‘low profits’, these challenges can seem very dire indeed.

Therefore it goes without saying that if you own an SME (Small or Medium Enterprise), saving money will be one of your primary concerns. A great way to do this is through software. Software is intended to make complicated things simple and bring the impossible into the realm of possibility. So why not use it to save some much-needed moolah?

Here are 5 ways that are efficient, practical and feasible!

1. Track your revenues and expenses

When you track money, you save money. Moreover, a penny saved is a penny earned!

Use online accounting software to track your revenues and expenses, and to get accurate insights into your firm’s profit margins. An understanding of your current profitability will enable you to understand what your future profitability could be and take action to make that situation a reality. And naturally when your profits are higher, your costs will be lower vis-à-vis your revenues.

2. Ditch expensive legacy systems

One of the biggest money-guzzling legacy systems still used in many firms is the good old landline telephone. Does your business need a landline? If not, why not try VoIP or virtual phone lines instead? More efficient, reliable and definitely cheaper!

3. Embrace open-source or beta software

Are you buying unnecessary software licenses and paying upgrade fees to keep them current? You may be wasting money! Cut costs by only purchasing and installing the software that you really need. Even better, use open-source software! There are plenty of cheap (or free) alternatives to branded software that have great interfaces and most of the functionalities you need. Plus, they won’t burn a hole in your pocket! You can also explore the ‘beta’ route – but only if you have the appetite to tolerate ‘work in progress’ bugs.

4. Use distributed technology/software

You can get a lot done from remote locations with messenger clients, video chats, project management software and cloud solutions. This can save you overhead costs and also give you more options to hire more workers (e.g. freelancers). Ultimately this can help you save on both human and capital expenses.

5. Use software for payroll, HR management and asset management

Payroll or HRMS software like Spine HR Suite provide automation and ease of access while reducing admin costs, simplifying HR tasks, ensuring legal compliance and tax efficiency, and reducing the burden of hiring, on-boarding and managing staff. Asset Management System (AMS) like Spine Assets can help you manage your assets at low cost while getting the maximum possible returns out of them. Many of these solutions can be customized so you may be able to save even more by paying only for what you need. Great value for money!

To know more about Spine Assets and Spine HR Suite, contact us today!

A strong base is the basic requirement of every startup to become one of the emerging business across the nation. A strong base consists of many essential factors and employee engagement is one of them. In other words, Employee engagement in a startup plan is even more vital than an Investment itself. The Employees of a company shapes the future of their organization and Undoubtedly, Employee engagement and retention in a startup company are going to produce profitable results which is sure to take the Company to the next level of Success. Every morning if an Employee gets up and feels like coming to work, it is because of the Emotional and psychological connect they have with their work which decides how much effort they put in their job. However, there is no hard and fast core rule which would suggest ways as of how to Maximize Employee Engagement in a company but an understanding of employees mindset and their expectations from Company is sure to keep employees stuck to their working chairs.

Add a pinch of Employee Engagement to prepare a successful startup

Nobody likes being a robot and therefore it is very important to love the work which anyone does on a regular basis. A good work environment is one of the key factors that serve as catalyst form employee engagement. According to research, if an employee loves their work environment they feel more enthusiastic about coming to their work every day.

Employee feedback is yet another method for Employee Engagement. If an Employee feels that they can voice out their opinion they would surely devise ideas that are profitable for the company. Moreover, the regular feedback programmes will help a startup identify the problems that exist in its organization and the ideas that are not working. These feedback programmes would even find a quicker way to fix it with proper Employee Engagement.

Appreciation feels like stepping stones to confidence, and nothing can produce results better than a confident Employee. If Employees of a startup organisation feels that their work is appreciated and praised they will try to perform well and give their best shot every time. If possible,the managers can try mentioning the key points as to what they are proud of and in which work of an employee is appreciated. According to a survey, over 50 per cent of Employees told that they would stay at their company for a long time if their work is appreciated. The appreciation can come in the form of rewards and recognition or a small percentage of bonus or just a token of message stating the praise.

A mentorship programme would make an Employee feel that the Company cares for their professional development. The mentorship programme can be used to brush up the existing skills of the Employees. This would help Employees mold themselves according to the growing demand of the industry.

Any successful startup company requires talents which are hired and retained and the above factors are sure to increase Employee engagement in a startup organization which would help the Startup reach zenith of success.

As the name implies, a Human Resource Management System (HRMS) is a tool that helps firms manage, simplify and automate their HR Operations. It gives HR professionals the freedom (and time) to focus on strategic tasks that can improve the firm’s productivity, engagement and efficiency.

But did you know that an HRMS offers many benefits at the organisational level as well? Here are 5!

1. Prevent employee ‘brain drain’ and keep (re)hiring costs down

An HRMS can help balance the employer-employee relationship to improve employees’ performance and ensures alignment with the employer’s strategic objectives. An HRMS system like Spine HR Suite can play a vital role in building this alignment. It can also help HR teams design employee engagement and retention strategies to enhance employee motivation and morale. This prevents employee brain drain so firms don’t need to hire replacements. This then minimizes org-wide hiring, training and on-boarding costs.

2. Employee Information Management helps a company know its employee ‘partners’ better

Today’s employees want to be seen as ‘customers’ or ‘partners’ rather than ‘workers’. An HRMS that is easy to use and provides ease of access, not only by managers and HR staff but by employees themselves (especially if this ‘employee self-service’ is tied into ‘mobility’), can help increase transparency and openness within the firm. This can improve employees’ workplace experiences and thus lower attrition rates. In addition, firms that have up-to-date information about their employees will be able to understand them better (for e.g. through 360-degree appraisals reporting or surveys) and design policies and programmes to keep them engaged and motivated.

3. Save time and money on payroll processing

An HRMS like Spine HR Suite can simplify the calculation of payroll and other financial records like tax deductions, arrears, overtime, claims, incentives, etc. By automating these time-consuming tasks, an HRMS helps organisations focus on developing their most important asset – their employees.

4. Data and information security

An HRMS is a reliable way to secure and protect your critical data. If you implement an on-premise HRMS (i.e. through in-house installation), your data is stored behind your own firewall which provides an assurance of data security and control. With a cloud-based HRMS, you also get secure data storage, albeit from the cloud.

5. Learning and development for employees that can propel a firm into the future

Businesses and organisations can benefit from using HRMS with an integrated Learning Management System (LMS). An HRMS with LMS integration can be used to design employee training/learning modules, track their development and identify their future learning needs. These features may be combined with employee performance goals and incorporated into their assessment system. This can help foster a culture of continuous learning and ensure that the organisation does not suffer the effects of under-prepared or under-trained employees.

The right HRMS can make a huge difference to a company’s prospects for future growth and success.

Choose an HRMS that works as hard as you do. For inquiries about a demo on Spine HR Suite or to be a channel partner, contact us today!