We’ve touched on this before that a successful company is one with happy employees. I cannot stress the importance of this enough and therefore, the fuel for this blog. Conventional wisdom (Google) states that the tried and tested ways of keeping your employees happy are through means like rewards and recognition, non-monetary incentives, etc. Now while all these methods are valid in their own right, they fail to address the most elemental of human desires according to Maslow’s hierarchy, ‘security’. Bear with me for moment.
After our basic physiological need of survival is met, all of us as a species are automatically tuned towards attaining security. This security comes in many facets; personal, financial, etc. I’m going to be addressing the financial aspect so you can get an insight into the mind of your employees and what makes them tick. Human Resources (HR) as a field is about effectively managing the human assets in a company. Unfortunately though, most HR departments simply don’t have time to focus on their core role due to stacks of paperwork consuming all their time. So where does that leave the employees? Fearful and unmotivated. So you might contend this by saying that your company provides a lot of benefits to compensate. Rightly so, these benefits while crucial, are not addressing the basic need.
Would you believe me if I told you that the answer lies in the most unassuming of places - a HR & Payroll software? That’s right, a well thought of software inadvertently does more than it promised. It gives your employees transparency. This in turn satiates the need for financial security by empowering them to take the reins over their personal finances. You’ll have to admit that you would feel safer when you know exactly what’s going on with your hard earned money. While every tax paying worker is on a perpetual quest to bring that number down, very few of them do it efficiently. This results in dissatisfaction creeping in. A feeling you can easily avoid.
Employee Self Service (ESS) is a tool with many uses. As the name suggests, it enables the employee to get the utmost clarity in matters pertaining to them. Simple day-to-day tasks like attendance marking, leave requests, etc. are automated. No longer will they have to wait endlessly to view their IT Statements or PF balances. All it takes is a click of a button. Now for the big one, taxes. greytHR has a tool that could be worth its weight in gold. The IT Savings (declaration) tool that’s built in to the software is cleverly designed to work seamlessly with individual salary structures. What it boils down to is that each and every employee has easy and instant access to maximize their savings. The software does the calculations and comes up with an amount that you could potentially save and guides you through the process for optimal savings. Once all the declarations have been made, simply click ‘submit’ and you ’re done. To take it one step further, all this is available on a dedicated mobile application for on-the-go access to all the information that’s need.
Using the ESS feature of a HR & Payroll software gives the HR department the much needed help they deserve by automating most of the clerical tasks. They’re then free to channel their efforts to ensuring the employees are happily productive. For the employees, their inherent need for security is satisfied with complete transparency so they can be rest assured that their financial stability is in their hands.