Category "Blog"

ValeurHR is proud to have co-organized our Lunchtime Talk event with Co. Spaces yesterday at their High Street Co-working Office, to share with the entire Co. Spaces community and our audience on how technology can help SMEs streamline their business processes and achieve their business KPIs. The event was a success, thanks to our partner and our very participative audience!

Our event attracted an audience of diverse backgrounds, from entrepreneurs who have sold and exited their company to young founders who are just starting up. It was great to hear from them their thoughts and experiences on the various challenges and struggles relating to Human Resource (HR) and Business Process Management (BP).

During the event, our CEO, Mr. Jaiprakash Singh Hasrajani, shared his valuable experiences in the HR and BPM industry with our audience. Despite technological advancements and the growth of more and more HR tools, most SMEs today are still relying on outdated technologies such as Microsoft Excel to manage their HR operations. As a result, this often results in efficiencies and higher operating costs for companies.

Furthermore, having a HR or BPM software does not necessarily mean that it will help the organization to achieve their business goals and objectives. It requires alignment from the entire organization and working closely with vendors in customizing and unleashing the full potential of the software to meet the unique needs of the organization.

Mr. Jaiprakash elaborated on several case studies during his talk – one of which highlights how a client, a $3 billion-dollar international MNC, has benefited from the customizability of our BPM software, vExecution. It excels at meeting their daily business and reporting needs, despite also already using other top enterprise software.

He also highlighted the importance of having the right metrics and analytics in driving business decisions. Such business indicators coupled with data visualization techniques (such as Traffic Light Indicators) make it easy for top and lower management to easily track the performance of each business function. It also helps to ensure organizational alignment and focused efforts towards meeting the company’s goals. This is the reason why our BPM software, vExecution, is equipped with data analytics capabilities to bring greater value to our clients.

One of our attendees also shared and explained the importance of Net Promoter Score (NPS) which helps companies measure the loyalty of their firm’s relationships with its customers, and how it can be implemented within the organization.

The event was not just a talk, but a two-way dialogue between our speaker and our audience. It was an insightful and enjoyable lunchtime session, and we look forward to future event collaborations with Co. Spaces!

Six Common Mistakes Companies Make in Payroll Processing

Any business with employees must have a system to handle all the payroll activities, including paying employees, paying taxes and filing all the necessary government forms. During such activities, mistakes happen to the best. Every business owner have to deal with payroll as they grow their business.
Here are the seven common mistakes that have been seen the business owners make with payroll and see how you can avoid getting tripped up.

1. Miscalculating overtime pay of salaried employees – This is seen to be the most common problem and there must be guidelines to follow when determining overtime pay. In the recent years, litigation has been increasing that claims on employees who were treated as exempt that are not entitled to overtime were misclassified. On the other hand, the professional employees can make large sums of money while working some extra hours.

2. Paying the wrong amount for incorrectly calculated working hours – This could happen for many reasons. We have seen employers reporting incorrect working hours in figures entered into the payroll system. Therefore, it is advised to double check all the payroll information, as it can turn to be a serious issue during audit for the employers, where he/she had to pay a lot of back wage.

3. Processing payroll late – By day-to-day operations, an employee get so consumed that they may forget to process the payroll on time. It’s important to use the payroll processing service to stay on schedule and avoid any misapprehension.

4. Overtime calculation rules – Calculating overtime is a weekly affair, not according to the pay period, which is every two weeks or twice a month. Most of the times, employers calculate overtime for hours over 80 hours worked and not weekly. According to the laws in most countries , it is required to pay employees overtime for normally working over 45 hours every week. However, the varying statutes and exceptions in states on the overtime laws make the payroll process more prone to mistakes.

5. Overlooking administration of health insurance plan – Company employees who have the health insurance plan and other statutory deductions must allow their employees with a tax free payroll deduction as a part of the plan. Creation of the annual plan document and compliance with the notice requirements is included in the administration of the plan. If not do so, then the IRS cannot allow pretax deductions for all the employees during the audit.

6. Forgetting to keep the payroll and other vital records – Whether it is a big company or a small-sized business, audit is a word that’s dreaded by almost everyone. In this particular situation, your scrupulous business records are the only help to get you through it. These records especially include the payroll records for at least last three years. In some other cases or states, they may require businesses to keep these records for even longer than three years. It is advisable to check the regulations with your state labor office or to consult an experienced employment attorney. Typically, these documents include I-9s, W-4s; direct deposit authorizations, timesheets, and payroll files (tax forms, pay stubs, and more).

Impact of Big Data Technology on HR

Businesses are evolving and big data technology is everywhere these days. It is formally defined as the exceedingly large sets of data, which can be examined computationally for revealing the patterns and trends related to human behavior and interactions. Ranging from transportation to trend, every sized business to an enterprise, Big Data is an ultra-modern topic that every entrepreneur, investor and executive is paying attention to.

By this time of 2018, human resources industry has done a lot of soul searching about the ways various issues can be handled within companies. Moreover, this time has come with a great internal shift focusing on the technology: how to connect people, engage more people, replace them and even how we can use it to find people according to your requirements.

For years, technology has been acting as a tool to help with the day-to-day tasks, but the focus of Big Data technology came up as a way of life in the workplace. Especially, the human resources department has had experienced an immense swing. To be a more competitive differentiator moving forth, HR needs to move beyond simple human interactions and being empathetic.

“If companies are able to unlock the power of large-scale data, they will make 100 major decisions a year instead of 2-3. They will be able to predict the outcomes (and respective probabilities) of these decisions with much greater accuracy, and be able to take external and internal input in real-time. They will be able to optimally leverage each employee in terms of both output and satisfaction.”

                                                                                                  – Paul Appleby, EVP BMC Software  

Leveraging Big Data for Greater Business Improvements-  

With the growing workforce, HR will have to embrace new technologies to meet the expectations of employees and even the specifications of their business. Analysis of the workforce and talent analytics tools will help manage big data effectively, extracting value that will truly help and enable companies to leverage existing enterprise skills, best practices as well as processes for the management of this new digital environment.

According to the Harvard Business Review, 71% of CEOs surveyed believe that human capital resource is the most important contributing factor to sustainable economic value.

It’s the time for HR to enter into the game and easily process information through digital platforms and portals. Big Data in HR management has impacted the businesses in many aspects, including reduced paperwork, customer understanding, as well as easy communication. Below is how Big Data has changed the way HR professionals make decisions and process-

  • Big Data helps HR predicts HR turnover risks and address retention challenges.
  • Talent analytics help companies uncover the hidden gaps that business don’t know, when it comes to employee training and choosing between HR initiatives.
  • Alignment between business requirements and talent acquisition is significant, and this is where big data steps in.

 “There is a very narrow group of people who are making really powerful decisions using data.” A great count is still waiting to make it happen……..

Over the next 20 years, Big Data is going to reshape business to a great extent as the internet reformed business in the past 20 years. This broad definition of “Big Data Technology” has left many holes to fill, while everyone agrees that big data is a big deal. What the future will look like is still heavily debated, despite of its imminent impact.

Talking about Big Data technology being used for attracting and retaining a younger workforce, millennials want to be engaged, but it has to be done well and just a matter of time. Using this impeccable technology for performance management, making the hiring process easier and giving people access to their own personnel information will bring your businesses over the threshold. Moreover, HR looking forward to better insights, cloud computing and transparency can help separates the traditional workplace from the modern one.

 

 

In today’s competitive environment, human resource management has the dual responsibility of employee well-being, in terms of salary, compensations, and working hours coordinates, to name a few. Maintaining this balance is not everyone’s cup of tea and can also prove to be highly-stressful at times. Therefore, several improvements in the service can improve work-life imbalance and help in retaining job satisfaction.

The relevant answer to this problem is replacement of handling data manually with technologically-advanced tools – Employee Self-Service (ESS) Portals.

Employee Self-Service Portal – A secure platform that abridges the processes of Human Resources, helps in empowering employees’ and even the management to obtain realistic elucidations. Growing number of companies are adopting such applications for realizing great reductions in human resources paperwork as well as workload. Apart from this, it creates a positive work culture by enabling the HR staff to focus more on strategy and planning.

With Employee Self-Service Portal, the key individuals devote more of their energies to the core business responsibilities of specific companies. Moreover, employees’ get their own login access to the portal, so they can view as well as edit their personal information.

Read the following to learn more about the features and key  benefits of employee self-service portal

Proves to be a strategic approach to self-service

Employee self-service portals can save you a lot of time and reduce administrative tasks, while giving employees the opportunity to take control of their information. They can use this portal to record their work hours and even request time-off at times. This reduces their manual load of sending emails for leave requests and save their time to make them focus on other vital tasks of the company.

Eliminates Confusion and Leverages the Power of Mobility

Apart from the improvement in efficacy of administration tasks, the ESS systems enable employees to log on to the portal and view the needed information. This information can be regarding work schedules, certain additions in the benefits, any vacation requests, attendance records and even the leave balances. In addition to this, the employees’ can review several other documents related to certain safety procedures, salary related complaints and other policies of the company. This also saves their time and reduces the burdensome task of responding to countless emails.

Employee Record Keeping

Moreover, the ESS portal has also enabled updating employee information on a regular basis. These portals have complete employee data and employees can update it if not able to inform about any emergencies to the HR department.

Employees can edit personal details

In life, events can happen at any point of time. These many include relocation to new place, marriage, divorce and an employee can even get a new phone number or change his/her bank account. Therefore, it becomes stressful for making changes in your payroll system. But the employee self-service portal allows employees to update their withholding allowances. This is done by simply logging into the ESS system and making respective changes into the information. It is also useful because employees better know their personal information than the HR and line managers do.

Empowers Employees and Improves Workforce Satisfaction

Pertaining to the ESS portals, employees can easily view their schedule and coordinate with their co-workers. They can simply login to their portal and even view time cards, circulation of any shift-changes, and other vital employee highlights. Most importantly, it improves social interaction between the senior management and the subordinates. Not only this, this is highly-beneficial for realizing a great progression in the spirit of companionship within an organization.

Confidentiality And Security Of Data

Personal data of the employees’ in the ESS system is maintained at the highest level of security and its connectivity uses most advanced technology to secure information. Access to this portal is carefully monitored and is also limited to those employees who have the legitimate need to use that information. Employees are given access with passwords to this system and as a part of their work requirements, while adhering to the policies that ensures strict confidentiality of this data.

Reduction in carbon footprint during paper production

These days, it has become imperative for the corporations to take care of the environment towards the creation of a paperless work culture. By using software such as the ESS portal, companies can easily contribute to the change of going paperless, thereby creating green, clean and healthy surroundings.

Summary – More and more aspects of everyday life are turning to self-service and people have grown familiarized to doing tasks by themselves. Such HRMS employee self-service solutions are lending a helping hand in enhancing the transparency of employee information as well as enhancing data security. It’s likely that the employee-self-service applications will continue to grow in the future, seeing that this move has efficacy and financial advantages for businesses’.

The HRMS industry is evolving and undergoing a lot of innovation. The corporate structures of variably-sized businesses often include payroll and human resources divisions separately. However, these two disciplines are critically connected and companies are deciding to integrate these two functions. They find this move to be of a great advantage, saving money and increasing efficiency while eliminating the duplicity as well as decreasing the chances of errors.

Greater advancements in technology have increased the thrust for HR departments in various corporations. Therefore, the one best way to remove this lumber is by integrating their applications with payroll systems. An integrated HR management system has had a positive and affirmative influence on the way companies and their HR departments are now able to function by using the similar database.

Here are three top benefits of integrating payroll with HR administration-

Purges Double Data Entry

In an organization, a lot of spreadsheets are often involved when exchanging information between the HR department and the payroll. Basically, the data collected by both departments is much of the same workforce information, involving excessive and superfluous paperwork.

On the other hand, data can be easily shared between the systems avoiding double data entry when the payroll system is connected to the HRM system. If the HR updates any information into the system, then automatic updating occurs in the payroll. Therefore, the information can also be seamlessly moved back and forth in the system without requiring the need for double entry of the data. In the long run, it eliminates the tons of work, saves many labor hours and reduces the tendency for errors.

Offers Detailed Reports with an Easier Access to Data

With the increase in day-to-day data in corporations, it has become really difficult to collect relevant data together for deriving specific conclusions when the HR system is not integrated with payroll. But, when payroll and the human resource information are available readily through a single interface, then complied reports can be featured as much more efficacious.

These combined reports provide complete information about the employees’, including their payroll data as well as the compensations packages and other benefits involved. Employees’ can easily access these reports with the help of HR payroll system integration and get suitable replies for their basic questions themselves. Certainly, this boosts employee satisfaction and also decreases the amount of time spent on resolving simple issues by the management and HR department. An integrated interface saves time of the HR staff and managers for accessing employee information on demand and also enables management to make well-informed decisions.

Promotes Workforce Empowerment

When payroll is integrated with HR management system having self-service features, employees’ of the respective company can easily view their payroll information when they require. It enables employees’ to check track record of their historical payroll data, saving precious time of HR professionals and helps in empowering the employees’.

Minimizes Risks, Increases Accuracy and Improves Security

While reducing the overall paperwork within the company, integration of HR payroll system will undergo automatic updating. It will automatically update, managing the records of attendance, overtime, and taxes. This is due to the reason that human resources and the payroll system share the same database consisting of employee information. This reduces the amount of work for employees to a great extent, as well as the margin of error that levies non-compliance.

An integrated HR payroll system platform can also increase the accuracy of your payroll and HR information across platforms. This prevents the pricey errors and saves enough time and money it would take to correct them. Not only this, it helps to improve data security as the payroll and HR systems contain highly-sensitive information about the company and their employees’. Consequently, by integrating these two systems into a secure HR platform, you can reduce the chance of contravening with your data.

Business process management (BPM) is a step by step method to making an organization’s work process more effective. Business Process Management (BPM) software has a variety of benefits for organizations that are seeking to organize their business and maximize workflow. In this article, we have put a list to help you in implementing BPM in your organization.

  1. Select your BPM platform carefully.
    There are a variety of BPM platforms available in the market today; some are designed to offer application development capabilities while others are designed for process tracking and visibility. So it’s advisable to select carefully the BPM platform to use, depending on the specific needs of your organization.
  2. Carry out a Preliminary Test Run
    Once a BPM platform is acquired, the temptation is to test it on your most cumbersome/complex process immediately. This approach could lead to several problems down the line. It’s always in your best interest and that of the organization that you implement initially on small processes like purchase orders before gradually moving to more complex process.
  1. Identify the person in Charge of the Process
    In order to avoid disputes that arise from the improper delegation, it is very important to identify the process owner. This is usually the business lead in charge of the process. This practice of identifying the process owner leads to accountability if any goes wrong, and also ensures the owner is responsible for the smooth running of the process.
  1. Set aims and objectives
    Before deciding on implementing BPM software, you must decide on why you need one. These reasons could vary from time management to cuts in spending. These reasons, in turn, serve as the goals you seek to accomplish with your BPM software. They serve as the benchmark for measuring the success or otherwise failure of such platforms.
  1. Draw out the workflow
    An essential aspect to consider before any BPM software implementation is the visual representation of the workflow. This should be done with members of your team. Usually, after brainstorming and sharing of ideas, the plans should be laid down on a sheet of paper in form of a diagram. This gives everyone an understanding of the process.
  1. Get Everyone Involved
    To ensure a complete and total participation on the new BPM platform, everyone on your team needs to be involved. The technical guys and the functional business guys to collaborate fully.
  1. Undergo a Pilot Test
    To fully grasp the effect of the BPM software on your business process without affecting an already existing and functional process, you need to run your new system on a pilot program. This gives you to the opportunity to test different variables with the BPM system and see its functionalities.
  1. Anticipate changes
    With the constant and rapid evolution continuously going on in the IT industry, it is a good practice to anticipate change, always acquire a BPM that readily adapt to changes.
  1. Training and Preparation
    The best way to achieve success in the implementation of your BPM software is to ensure those who would be in charge of the software actually know its functions and how to use the software. This can be achieved via proper training and preparing everyone involved in the workflow process.
  1. Evaluate and Make Adjustments
    It’s is the final phase of the BPM software implementation process, it involves evaluating the performance of the software against set goals and return on investments and make necessary adjustments to maximize productivity.

There is no dearth of articles and blogs that will tell you about why you should implement BPM in your organisation. One of the key benefits of implementing BPM is also to better understand the organisation since when you implement this, it lays bare all your current processes and opens them up for improvement. It is important to understand that unlike many other programs that you may implement in your organisation, implementation of BPM is an ongoing process and not a one-time activity. It is not that you can simply automate certain repetitive workflows and then leave it at that. So, that raises an interesting challenge, where do you draw the line and conclude that your BPM process is a success?

KPIs & Process Performance Metrics

What you cannot measure, you cannot improve. That’s been true centuries ago and it’s true even now. Measuring is an important aspect of accessing whether a particular activity is successful or not. The simple act of measuring is not enough, with the limited resources that every organisation has, it is important to understand, what to measure? Processes and activities, that will make a change on improving the business are important to measure. When such an activity like the implementation of BPM is taken up, there is a lurking danger of measuring metrics that are either feel-good or easy to measure. If the right metrics are not measured, you may end up tweaking the wrong processes and which can have a far-reaching impact, where you could amplify the damage a wrong process automation would do to your organization causing pain to multiple stakeholders and even carry it to their day-to-day operational tasks by complicating it.

Assuming that you have figured out your goals for automation clearly and are tracking the right metrics, a lot of BPM vendors provide multiple dashboards with colourful graphs and metrics to measure the KPI’s you want to track. You can customize these to the needs of your own organisation and metrics you want to measure. Examples of these include Time taken to complete certain processes ( eg. Has the time taken to respond to customer support issues improved ? ) . However, think about it, are these the real measure of the success of a BPM program? It may give you an operational level insight into how your processes are getting carried out and the data can tell you if there is a certain amount of improvement. However, this may not give you the complete picture. There is a big gap between just seeing some incremental improvement in these numbers and the real success you are trying to achieve through implementation of the BPM program.

The Measure of Success

In order to measure the real success of the BPM program, it is important to answer some fundamental questions that made us decide to go for a BPM program in the first place. Automation is an obvious and inevitable step and that is mainly done to free up resources from doing repetitive, manual jobs that are time & resource intensive. So what after that?

Besides the obvious benefits of automating the processes for improving the efficiencies in the repetitive tasks, it is important to see if the implementation of the BPM model has made any difference in the cultural working of the organisation. Has that helped the organisation become more employee-centric? Is the employee energy now better channelized into activities that are more productive? Has it helped the employees and the organisation become more customer focused?

It may not be the best thing to tie the success of a BPM program to a short term revenue goal only, even though the cost savings is one of the indicative measures of the success of the BPM program.

One of the key success metrics of a BPM program in today’s day and age is to make the organisation more agile and adaptable to change. There are numerous stories about how large companies can be disrupted by much smaller and new start-ups because of the former’s lack of ability to foresee and adapt to change. This change does not necessarily mean a new idea, it can also mean changing customer expectations. In this highly connected social world, where customers are usually well informed, customer expectations of service quality may be very different from what it was decades ago. Can your organisation quickly adapt to this kind of changes? With that idea in mind, your BPM goals should also be aligned the same way in order to achieve that. An organization can prosper only when it can achieve customer goodwill when there is promptness in service and value in delivery.

One popular school of thought says that the employee is internal customers. If they are happy, they will work better and keep external customers also happy. Hence for a successful implementation of the BPM program, it should have the complete buy-in of your internal customers. It is hence essential that the program makes life easier & things simpler for the stakeholders of the processes you have chosen to automate & improve. Building a more employee-efficient & a customer-centric company through proper structuring and managing of business processes is the real success in executing a BPM program

About the author
Jaiprakash Singh Hasrajani ( Co-founder & CEO, ValeurHR )
Jaiprakash is an multiple Award Winning Entrepreneur with business ventures and serious interest in HR Consulting, Software Product Development, Education Management, Skill Development and Capacity Building.Jaiprakash speaks at various forums, Business Schools, around India in the areas of HR, Education and Skill Development viz. at ISB, IIT Kharagpur Entrepreneurship Drives, Google G-Day Conference, SCMHRD Summit, Vibrant Gujarat National Education Summit, at Institute For Competitiveness (part of Harvard Business School)

Jaiprakash can be reached at jai@valeurhr.com
LinkedIn : https://www.linkedin.com/in/jaiprakashsinghhasrajani/

Let’s face it; lot of small businesses adopt conventional methods in managing the processes involved in accomplishing business tasks and projects. Documentation and taking time to outline these processes in advance is something new to most of us. But, if you want your business to progress and make huge profit in the today’s business environment, we need to carefully establish clear processes in doing business and also optimize these processes for enhanced business performance. This brings Business Process Management (BPM) into play.

What is Business Process Management?

According to bpm.com, “Business Process Management (BPM) is a discipline which involves any combination of modeling, automation, execution, control, measurement and optimization of business activity flows, in support of enterprise goals, spanning systems, employees, customers and partners within and beyond the enterprise boundaries”.

In simple terms, BPM involves analyzing the current processes involved in running your business, and streamlining these procedures for optimal performance output.

For instance, automation and reduction in paperwork can streamline the process involved in preparing invoices and contracts; this in turn brings efficiency to the system and reduces overhead costs.

The advantages of BPM are enormous when properly utilized. These include enhanced productivity, reduced overhead costs, and minimized errors. For you to derive maximum benefits from BPM, it needs to be completely understood by all parties involved.

IMPROVING ROI AND BUSINESS VALUE

According to statistics from AIIM research, companies that implemented BPM in managing their business experienced a 40 percent increase in ROI within a year. In addition to this, these businesses also experienced better routing to and between persons (62 percent), lesser review and approval cycles (33 percent), and also increased routing and organizational efficiency between processes (42 percent).

BRINGING BPM TO YOUR SMALL BUSINESS

Most companies are accepting the trend now and realizing BPM is very important in improving efficiencies, reducing waste and boosting profits. Implementing BPM software can be overwhelming; notwithstanding, here are few tips on how to get started:

  1. Go with what you have. Whether you have a few processes written out, or you have the ideas in your head, put them into writing and get started. With time you would notice a pattern emerge as well as the grey spots.
  2. Don’t think automation is the solution to all problems. Automation only helps when you already have an effective process in place. Automation doesn’t make a bad process good. It just makes a good one better.
  3. Fish out waste. Always strive to find the cause of problems as a way to eliminate inefficiency in your business.
  4. Evaluate what you have. Keep records of your current BPM capabilities and highlight missing requirements. This way you concentrate on providing what is missing.
  5. Start with business needs. Identify the business requirements. This should serve as the base on which the functional requirements of the business are built on.
  6. Be Mobile. Explore modern trends and ensure your business has the capability to be mobile and can co exist with mobile technologies.
  7. Build in real-time optimization. Ensure your processes are constantly undergoing evaluation and optimization, BPM isn’t a one off implementation. It’s a continuous process.

In summary, BPM improves performance within an organization. It encourages flexibility, adaptation and versatility. So no matter the size of your business, it is very important you consider implementing BPM.

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