Introduction You might be aware of cyber crimes and how different types of malicious software can place some or all of your company’s precious pieces of information at stake. A dramatic increase in the cyberattacks targeting the payroll departments and payroll services of companies have been witnessed since 2017. A forewarning by the FBI’s Internet…
Introduction The COVID-19 chapter has indeed transformed the way India works. The Work-from-home practice which was enforced on Indian Inc. in compliance with the safety measures issued by the government during the lockdown phase has turned out to reap unknown benefits for many companies, which is why a lot of them have decided to add…
INTRODUCTION A few years earlier from today, the matter of ghost employees costing the exchequer some megabucks of Rs. 1.5 crores during 2016-17, horrified the entire Department of Indian Railways, which then comprised a workforce of 13 lakh people, taking a heavy toll on the railway board. This led to the initiation of the validation…
INTRODUCTION So, when you are starting small, managing your money efficiently is what keeps running at the back of your mind, and rightly so. However, no matter how small or big as a business you are, size is not a deciding factor when it comes to compensating your employees. Keeping your workforce revitalized throughout their…
INTRODUCTION In today’s highly competitive world, where every company, big or small is vying for a place in the world of trade, subtle economic alchemy can help you achieve your goal. The abrupt entry of COVID in our lives have triggered the need to remodel the outworn payroll system operations of our businesses with services…
India has been one of the fastest-growing economies of the world, ranking 5th with a nominal GDP of $2.94 trillion, as per IMF’s World Economic Outlook Database, October 2019. The service sector contributes more than 60% to its economy, following this is the manufacturing sector, reckoning to gain a larger driving force with PM’s envisioning…
COVID-19 has indeed left the entire economy paralysed and in these tough times, when companies are facing a cash crunch, cost-cutting has become inevitable. Talking about the last few months, organisation’s are really down on their luck, running low on cash and being hit hard on the revenues. So in such adversity, management could think…
Payroll management is one of the most complex functions in an organization. It is also just as significant as sales or customer service. Be it your reward policy, compensation system, or retention strategy, your payroll department is responsible for ensuring that these frameworks are in line with laws. There are tons of tax rules, codes,…
2020 has been a grotesque year in the history of mankind posing a huge challenge to everyone including the corporate fraternity. In alliance with the new normal, working from home for the safety of employees began materialising, a lot of standard practices following a conventional approach got disrupted and has been flagged up as a…
The shockwaves sent off by the COVID-19 havoc have been very intense and in these heavy seas of economic turmoil, many businesses seemed to capsize terribly. The long-held myths of successful business continuity with the traditional approach began to evaporate in the wake of the pandemic. As a result, companies have started mobilising to a…