There are a number of companies that are already using a payroll system in the Philippines but little do they know that as time goes by, the system becomes old and downgraded.
In fact, a recent study in America shows that around 29 percent of businesses use a payroll system that is about 10 years or even older.
This pertains to old payroll systems alone.
This does not even include yet platforms that are obsolete and outdated.
The use of spreadsheets and manual payroll processing is still not part of the mentioned stats.
This just goes to show that HR should outgrow this kind of payroll software in the Philippines to be able to be a competitive major player in the industry where it belongs.
Obviously, there are a lot of companies that need a payroll overhaul.
If you feel that your company is having difficulty coping with HR processes and that you are lagging behind, then it is time to adapt to a new system leveraging payroll software in the Philippines.
Bring your business to new heights and watch out for future trends of payroll system in the Philippines.
Because of the pandemic, there have been different ways in doing things.
It gave an unprecedented pressure on the part of business owners across all levels, industries and sectors.
Companies had to stall and had to contend with stay at home orders, furlough and not being able to do trading.
These realities have left companies no choice.
They had to adapt, and fundamentally change the way they operate – the new normal as they say.
While doing this, software providers have also looked into their own processes and realized that they could do better.
This is especially true for management of payroll.
If you happen to handle Human Resources and its ins and outs, then you need to arm yourself with all the preparedness for the next couple of years.
1. Agility and Fast-Paced
The HR system in the Philippines used to be backward.
To keep up with the evolving times, payroll system in the Philippines needs to be more fast-paced, accurate and agile.
Through utilization of automation and faster payments system, more and more will be able to speed up their HR and payroll processes.
2. Flexibility
Many have learned to be resilient and flexible.
Working in a company doesn’t have to be always confined in the four walls of the office.
Companies should be able to allow their employees to work flexibly, comfortably and safely.
Evidence shows flexibility at work leads to better employee retention and greater productivity.
If you allow staff members to freely choose their time and working patters, this empowers them and make them work smarter and better.
Flexibility gives u a competitive edge against your emerging competitors.
3. Growth in Technology
New technology and digital tools are coming your way.
Now more than ever, people have already gotten used to the world of Zoom, Google Meet and Google Docs.
And these are here to stay.
As more companies use these tools they realize that technology is no longer for the IT department alone.
It is now something designed to make everyone’s lives easier and then includes Payroll.
As more companies look to increase their efficiency with software, HR will need to adjust their processes and practices to make way for new software – a better HR system in the Philippines.
A payroll software in the Philippines that will provide them the freedom to work on value-add projects will have a real impact on their business.
4. Increased Globalization
Following on from growth in technology and flexibility, there is no doubt that companies will evaluate their role in bringing in more teams and employees from around the globe.
There will be many candidates who can render their service from across the country and around the globe and it is easier to interview them without thinking of the limitations.
Essentially the very best the world has to offer is at your fingertips, all you need to do is find them.
5. Provision of HR Analytics
Data and analytics are crucial to any business.
It provides insights and can help spot trends within the organization.
With data as a basis for business decisions, there is no way but up.
A dependable payroll system in the Philippines can make HR professionals more reliant on data that can eventually help grow the business.
6. Ascend to the Cloud
Cloud technology is the future.
According to this year’s Future Of Payroll Report by the Chartered Institute of Payroll Professionals, 38% of companies have been using the Cloud software as a means of processing their payroll.
Give Your Good Employees a Great Future Tool that will help your business.
EasyHR is a great tool your employees deserve.
Automate statutory payroll deductions like BIR, HDMF, SSS, and Philhealth.
Automate DTR computation of tardiness, absences, undertime, overtime, Holidays, and all leave types.
Automate manual and repetitive tasks like preparing reports for the BIR, HDMF, SSS, and PhilHealth.
EasyHR is agile, flexible, data-driven, highly techie, provides analytics and uses the cloud to bring in the best payroll system in the Philippines.
The future trend is here.
For a free demo, please check: https://human-incubator.com/easy-hr/
