Workforce Management

Payroll Management

Nabila Habib

While payroll is the list of employees and their compensation, it is hardly ever this simple a list. Payroll is a major expense for a company. Falling under the purview of the Human Resource Department or the Accounting section, the process of payroll includes a set of components that can be outsourced to companies specializing in the service or can be handled by cloud-based software. Handling payroll is a necessary, resource-consuming business that is often outsourced due to the advantages of such a setting.

The payroll process includes tracking hours worked by employees and calculating their payments. Then the payments are distributed to the employees via a check or direct deposits. While this is the simplified version of the process, before the payment distribution a lot more can happen. Aspects associated with payroll are medical insurance, social security, record-keeping, and accounting.

Small enterprises easily manage their own payroll system. However, the complexity of the accounting section increases with the growth of the company. Taking care of payroll for a large company with hundreds of employees can become a chore too big for a few personnel to manage. This is when help is needed to tackle this aspect. The help can come in the form of an outsourced company specializing in handling payroll for other firms or using a tech-based solution.

Specialized companies handle the payroll and take over the tasks of paycheque calculation, tax compliance, insurance, and employee benefits. Outsourcing this responsibility to them streamlines the internal workings of the main firm and a large number of employees can easily be paid in time. Depending upon the requirements, payroll companies often have a flexible menu of services. They can be asked to produce reports that ease the accounting process and ensure the firm is working within the legal and tax requirements.

Firms handling payroll for large companies make use of Fintech to make things easier for them. They use software and cloud-based technology to integrate different responsibilities for a cohesive streamlined output.

IT Recruitment, Training & HR Payroll Services in India

Nabila Habib

Indian IT Scene

The remote workspace is mushrooming in size and India is one of the forerunners in offering remote workers to organizations spread over all corners of the globe. With over four billion-strong workforces, India rules a big chunk of the remote workforce.

Indian IT workforce is actively growing and increasingly becoming recruitment of choice by companies big and small. Indian technical talent is currently among the top three most in-demand skill areas. For a growing number of firms based outside India, the Indian technology workforce is a go-to talent pool where they look to hire their tech team to scale and grow their firms.

A firm like Sevendyne – with strong connections in the Indian workforce ecosystem – makes this prospect easy and transparent with its recruitment and Human Resource Management services.

Scaling business in a new country can be a time-consuming responsibility and this is where firms like Sevendyne play a crucial part. Managing a new tech team in a new locale has its unique demands and problems that can be arduous for a foreign company. A local firm that offers to take away such non-core activities from the recruiter can leave them to concentrate on the company’s core responsibilities and perform better.

This kind of outsourced responsibility has a number of advantages.

Remote Hiring

An Indian recruitment and staffing service firm can study the needs of its clients abroad and select the most competent and specialized talents from its vast network inland. Services with complete transparency and step-by-step appraisal let the client choose their pick from their bases. When the tech team is selected, a streamlined onboarding process reduces time, leaving the clients free to begin their business process in a relatively shorter duration.

HRM

Managing employees working in a foreign place can be full of hassles where red tapes and differences in international laws come into practice. It takes care of all procedural processes like talent management, payroll processing, performance evaluation, compensation analysis, performance appraisals, time tracking, leave management, and compliance with the laws and regulations of the employee’s local statutory authorities, including taxes.

For foreign companies pursuing the prospects of expanding their business in India, the HRM menu of Sevendyne also contains cost-effective services for insurance, benefits, and risk management.

Corporate Technical Training

Corporate training are a way to assure the employees are acquiring skills required in moving forward in their careers and in the growth of the company. Sevendyne offers technical training that is customizable according to the need of the time and requirements of the client.

In the modern digital world, Indian technical talents are becoming more proficient than before and the world is already taking notice of the Indian technical talent pool. With world-class technical education available here, the availability of eligible talents here is a veritable well of opportunity for foreign firms looking to expand their horizons and mark their address pin on the Indian subcontinent.

Running It Right: Mind of the Entrepreneur

Running a business requires the balance of two factors: a business acumen and the right mental state. While the first applies to external situations, the latter happens inside the head of the entrepreneur, and affects the employees. When the inside cogs are running smoothly, the outside machinery falls into place.

It is not easy keeping the right mental attitude when a hundred different things clamour for attention. Amidst it all, one can get frayed at the edges while dealing with employees. But three basic ideas help one bind it all together in a neat packet of success.

The feeling of freedom is a basic need of humans, so it is imperative to give your people the freedom to get creative, to come up with their own ideas, and run with them. If someone comes to you with an idea for a business, why not ask that person to launch a start-up? Doing this will open new markets for your business and, more often than not, succeed. Your company should act as a springboard for ambitious employees, not a set of shackles.

This is important in business: Don’t wait until an employee comes to you and says he’s ready to leave before you start thinking about what his goals are and what keeps him happy — this should be part of your hiring decision. Before you make a prospect a job offer, be sure to consider how his plans for his career fit with your company’s. If there’s a real mismatch, it’s unlikely you’ll be able to work together long.

If you have a staff member who is really flourishing, he may well get to the stage where he is keen to become his own boss, and when this happens, you can’t blame anyone. As any entrepreneur will tell you, there’s nothing quite like running your own business. This is an opportunity for your company, not a setback. Bringing somebody new into the fold means that you will get a fresh perspective on your business and you’ll have the chance to add to your team’s skills and talents.

Visionary Entrepreneurs Build Inspired Team

The secret behind every successful enterprise is a visionary leader. But a leader alone cannot run it. So, he brings together a host of inspired talents and helps bring out the best in them. Steve Jobs not only turned Apple into a great product, but also developed great teams to nurture his vision.

A team is to the company what a family is to the society. Taking care of the unit takes care of the whole. These five basic tenets go a long way in making sure the organization is healthy inside out.

Respect

A great team is built when people respect each other – from the top management board to the new joiners. There every member of the company feels valued. Humility in the top brass and recognition even at the lowest employee rung is the key to checking that respect is in healthy abundance. Achieving things with respect gives outstanding and long-lasting results. A respectful attitude stands out in the present cut-throat corporate world. This is an assured and noble method of leaving a lasting impression on co-workers and the business world as well.

Support at all Times

The best leaders act, not react. It can be difficult not to feel betrayed when a team member decides to jump ship, but the team leader’s reaction to such news is more important for the team than the problem of replacing the lost talent. The best thing for the leader is to wish the departing member a warm-hearted “good luck.” There are many paths a career might take, and someday — who knows? — your paths may converge again and you both may even decide to go into business together. The idea of “Employee first, Customer second” has much wisdom behind it and a value that is embedded in the best employers. Making a good team requires many other factors too, like paying good salaries, a good working atmosphere, and approachable, friendly management.

Equality and Patience

A team can include highly talented as well as mediocre performers. Despite the difference, it is necessary to manage all of them at the same level. This requires patience and proper planning. We cannot build anything in a single day, but with patience, we can plan our goals and implement our team to do the same.

Unified Vision

When all members of the team are striving for one goal, it is bound to pick up pace in the achievements galore. Every employee needs to be shown a clear picture of his role in the organization, and how he helps achieve the central goal. Nurture each team member with love and patience and you can see how far they will bring your projects to success.

Persistence

The best leaders first nurture a great team before leading a successful firm. It is a continuous task and not a one-time effort. Like a relationship, leading a winning team is a continuous effort. The kegs run smoothly when they are regularly oiled and cleaned. Every big achievement has persistent effort behind it – being a good boss is no different.

Sociability Across Virtual Space is Leading to Psychological Concerns

Nabila Habib

The increasing virtual presence of the modern man has led to its increasing effect on his mind. Despite being a budding reality, the actual social life of man is being quickly replaced by his sociability in virtual space, with alarming consequences on his psyche.

Online sociability is today a frequent experience for millions of people, and it will in the years to come be so for many more people across the world.
Turkle Clementson

Sociability is the quality of being sociable and enjoying the company of other humans. Sociability is a valuable soft skill, cited as one of the major skills required for a long, happy, and successful life in the popular general parameters. Since virtual interactions have similar effects on a person’s mind and body as physical ones, so the same parameters can be used for gauging the psychological effects of virtual interactions on a person. In his article Virtual Reality in Psychology, Nigel Foreman wrote, “…that movements in virtual space, and accompanying perceptual changes, are treated by the brain in much the same way as those in equivalent real space.” In his paper, The Psychology of Online Sociability: Theory and Examples, Turkle Clementson puts forward a solid connection between the virtual world to a person’s psychological health. He writes, “Online sociability is today a frequent experience for millions of people, and it will in the years to come be so for many more people across the world.”

There is a statistically significant positive correlation between depressive symptoms and time spent on SNS
Igor Panic

It was discovered that increasing virtual interaction and sociability has led to growing cases of depression, lower self-esteem and internet addiction with withdrawal symptoms similar to those experienced with substance abuse. Igor Panic writes in his article that the time spent by the younger generation online has grown exponentially in the last decade, encroaching upon the amount of actual social interactions with family members and friends, and also adversely affecting its quality and intensity. His research found “a statistically significant positive correlation between depressive symptoms and time spent on SNS” (Social Network Systems like Facebook, Twitter etc).

Prolonged online communication leads to a weakened self-image.

The second conclusion was that online communication also led to a short-term or long-term reduction in self-esteem among users. The Objective self-awareness theory proposes that when a stimulus makes the self the object of consciousness, it leads to a weakened self-image. Social interactions on the internet are largely centered around narcissistic representations of the self. In social media, a person repeatedly comes across his own profile, which has the same adverse effect on his self-image as that of looking at himself in the mirror or hearing his own voice.

Lastly, the study observed that the obsessive and preoccupied state of the network user was very similar to that of a substance abuser. A similar behavioural pattern included neglect of other aspects of their social life, like family and offline friends in the physical world. When a chronic user’s connection to his virtual world was cut, he reacted and experienced partially the same symptoms as that seen during drug/alcohol/nicotine abstinence syndrome.

While more research is needed to conclude the cause and effect, it has been confirmed that increased virtual sociability leads to major psychological disturbances in the user, basically in the form of depression, lower self-esteem, and addiction. Being harmful in excess, the encroachment of the virtual world on the user’s physical and real interactions with his family and offline society in itself has adverse effects on his psychological health.