Formerly looked upon as being a mundane, albeit important task, the function of payroll within a business is still mostly undervalued. Payroll, however, involves major financial and reputational stakes, whilst providing opportunities such as data analytics and resource optimization, smart payroll management may just hold the keys to improve your business strategy. But before diving into the 5 ways it will help, it is important to know what prompted this surge of potential.
Technology enabled the transformation of payroll. Far from its beginnings, limited to physical pay checks and manually-filled payslips, Cloud-based systems equip payroll specialists with a wealth of resources and data. In today’s globalized work environment, these digital tools are the key to unlock new advantages, whether with regards to compliance or analytics. However, in order to seize these major opportunities, the once-practical duty of payroll specialists is veering towards a more analytical and operational one – especially when it comes to organizations with expansion plans.
Viewing data in such a light will help your business evolve, because:
This data is, indeed, crucial for the proper and timely administration of payroll, but it could also be so much more.
Learning how to read such data could give you a fresh perspective of the actual efficiency of internal policy making.
From geographic to functional data, payroll holds tremendous insights into your business to guide you towards informed decisions. Figures may speak louder than words: they will help you make well-advised plans, as data analysis will help you forecast and, in turn, regulate labour costs. This opportunity alone plays a major part in any organisation’s financial strategy.
Analysing such expenses from an HR perspective might be a game changer at different levels:
Such questions guide smarter allocation of resources.
It is no mystery that, in today’s competitive workforce, a poorly managed payroll comes at the great cost of talent loss. Maintaining a positive employee experience is therefore one of the main goals of payroll specialists. This is often achieved thanks to a number of measures that include the use of employee self-service portals to facilitate data collection and enhance its accuracy. Such innovative tools are based on Cloud technology, which gives employees instant and easy access to data. They can, for instance, know how many leaves they have left and manage the application process from start to approval. Adopting these solutions also brand your company as a forward-thinking employer of choice that cares about employee experience.
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Smart payroll solutions also come into play to automate mundane, yet labour-intensive administrative tasks. Free of such time and energy-consuming tasks, your staff will be able to shift from simply performing routine functions to dedicating themselves to improve processes and find innovative ideas. It also generally allows your HR teams to focus on talent, and devise the best internal policies, work packages, and other tactical management decisions.
Setting up adequate audit and reporting mechanisms will certainly help by ensuring the financial compliance of your business with local regulations. However, payroll data can take you a step further down the road to legal compliance and best employment practices, if you know where to look. Indeed, payroll data can also unveil pay gaps within your organization that would come at the cost of employee experience, while saving you the burden of being exposed to potential discrimination lawsuits.
Choosing a dedicated payroll specialist to assist you in your expansion plans ensures smart payroll planning, as well as a streamlined process across every single country of operation. As a service provider in over 44 countries on the continent, Africa HR works with experts to guide you through local compliance requirements, and gives you access to digital tools specifically designed for managed payroll in the African continent. Contact us to learn more about how we can help!
Kevina Takoordyal has a BA Hons Business Management from the University of Glamorgan, UK, with MBA in leadership and Innovation, MBA General, PMP Certified, and Agile Scrum Master. She currently works as the Head of Operations at Africa HR Solutions Ltd with more than 20 years of proven leadership capabilities in Operations, Business Development, People Management, Process Optimization, and Project Management in the Financial Services, BPO, Banking Industry, and Heath Care Industry. In Senior leadership roles with an international footprint across Europe working and extensive Pan- African experience from a compliance, finance, and operations angle, Kevina comes across with a panoply of cross-functional skills. Kevina also serves on a few Boards, Non-Independent Executive at MioD and for NGOs on a voluntary basis, a coach and mentor to aspiring female leaders across Africa and Mauritius.
Kevina is a firm believer in Servant Leadership with a strong focus and commitment to uplifting others, with the ability to deliver through a highly engaged – diverse team, and works towards consistently synergistic value creation. While being a focused and adaptive thinker and Kevina is actively participating in panel discussions on Innovation, CX, Digital transformation.
Kevina serves as Project Assessor for the National Youth upskilling program. She has been recognized as Global Talent in a few companies, Ceridian, and International SOS Ltd whereby she has been awarded a few scholarships and had the opportunity to be mentored by Senior Vice President in the US. Award Winner in various fields and at a national level and recognized including Super Achiever Leader Award in Africa in 2016, Awarded Africa Women Leader 2018.
A qualified lawyer who joined Africa HR Solutions in July 2020, Mark Du Preez has experience working in private practice for a reputable law firm in South Africa. He also played commercially focused roles at a leading private bank, wealth management company, and outsourcing firm in South Africa and Mauritius.
Mark has played a pivotal role in Africa HR Solution’s risk mitigation strategy, which positively impacted P&L performance over the years.
He currently leads the Partnerships function of the company including relationships and oversight with in-country partners (ICPs) across Africa.
Alex has more than 15 years of experience in the global, strategic development of both enterprise and consumer brands in categories including technology, transport, enterprise software, entertainment, and travel.
With experience in roles on both agency and corporate side, he has worked across international brands and has led the development and execution of multi-discipline campaigns across EMEA, NORAM and Asia Pacific.
His focus is on driving meaningful business impact through brand differentiation and building high-functioning, digitally oriented, and analytically driven capabilities. He is motivated by working with, and developing dynamic people, teams, and organizations.
He leads, manages, develops and mentors the Key Account Management department, including line management responsibility for the team of Key Account Managers and Key Account Administrator who represent the Company as the primary communication link between all relevant stakeholders, including clients, third party in-country partners and internal functions.
Originally from Mauritius, he holds bachelor’s degrees in International Business, Finance and Management from the University of Nevada, Reno.