Article: Hybrid workplace - is the HR tech-ready?

A Brand Reachout InitiativePayroll & Benefits Administration

Hybrid workplace - is the HR tech-ready?

As growing companies embrace hybrid working models, how can they ensure they design the best employee experience by investing in the right HR Tech solutions?
Hybrid workplace - is the HR tech-ready?

Studies have shown that nearly 63% of Indian employers are fully prepared for hybrid work. With digital solutions at the forefront of building sustainable and scalable flexible working models, the challenge of digital adoption cannot be overlooked. 

For SMEs in particular who choose to branch out their operations by leveraging a distributed workforce, the dynamics of HR Tech take on a different set of priorities. It’s not simply about digital innovation and keeping pace with the latest trends and solutions but about designing efficient workflows. Doing so would ensure that your employees can now steer their attention towards more strategic tasks and functions that are fundamental to building a solid organisational base ready for growth. 

A fool-proof way of overcoming the digital adoption gap so that your growing company can reap the benefits of HR Tech faster is by investing in a user-friendly interface.

One of the first questions that entrepreneurs can ask then is: Is the software I’m implementing easy to pick up and adopt by employees in minutes? This is the critical step to making sure that your SME’s hybrid model of work is HR Tech ready, and then comes the following features that must be part of your checklist to accelerate digital adoption:

Efficient HR management dashboard

For companies with a growing employee base, digital adoption all across the spectrum is essential. This has two components: quick and easy set-up and enabling employee self-service. With RazorpayX Payroll, the first is already taken care of because of its interface. In less than 10 minutes, companies can not only set up the payroll platform but also invite their employees onto it and kickstart the transition to automated HR functions. 

Regarding employee self-service, their software model ensures autonomous attendance and leave management and easy access to payslips and tax declarations through its self-service portal. It is also integrated with Slack for even more effortless and efficient access and communications. 

Automated payroll and compliance management

Along with attendance management, designing the right employee experience in your hybrid work models also involves efficient compensation and benefits management.

This inevitably includes compliance calculations which get very time-consuming and may lead to errors. As said by Sandeep Kelvadi, Co-founder & Marketing Strategist at Pixelmattic using RazorpayX payroll has eliminated the need to invest time in TDS and Professional Taxes, given that the system calculates and files it on its own. Another benefit is how the software gives insights into the payroll process by preparing several reports detailing various things such as Salary Register, Master CTC, Variance Report and more which takes note of payroll, compliance and employee count trends. 

Digital integration into well-being design and strategy

HR Tech solutions have to enable efficient workflows and seamless operation of HR functions, but additionally, they also need to empower the softer but essential aspects of work culture. One of these that RazorpayX Payroll prioritises and makes part and parcel of their interface is group health insurance, a necessary component of wellness policies. Not only are insurance premiums made available to SMEs at the lowest rates possible, but they can also offer 24/7 support and easy, immediate access to legitimate claims raised by their employees. Moreover, it is available for teams as small as 2!

When affordable insurance plans with comprehensive coverage are part of the HR Tech platforms implemented and backed by a 24x7 helpdesk, three integral elements of designing an optimal and engaging employee experience are targeted: autonomy, productivity and well-being. This is because well-being influences productivity at every stage of the talent life cycle. Moreover, autonomy is a sign of accessibility to the employee policies and benefits.  

While product and sales growth is urgent for fast-growing companies, leading this business transformation demands robust employee engagement and participation.

This creates a new urgency as SMEs scale up and implements a hybrid working model. And one of the best answers to this conundrum is accelerating ease of adoption. 

One of RazorpayX Payroll’s customers, Jaisal Mariwala, Founder & CEO, Mintd, said in a recent post that their payroll software interface is so intuitive that even a seven-year-old could run payroll for a business every month in just minutes. This is a unique analogy, but at the end of the day, it is this attribute that will help SMEs build a competitive advantage in the market.

With RazorpayX Payroll, whose software is designed for startups to support them as they scale and become more complex, leading business growth and innovation becomes the primary agenda. Especially since workflows and compensation get more automated and employees can now divert their efforts to strategic tasks. As Aravind S., Founder, QED Corporation (CA Partner), said, “RazorpayX Payroll, like AWS, should be one of the primary product a startup founder should subscribe to for managing the startup's payroll and its related compliances.” With this primary yet critical investment, SMEs are ready to thrive in the hybrid world of people and work.

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Topics: Payroll & Benefits Administration, #HRTech, #HybridWorkplace

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