5 ways managed payroll helps a business strategy

Counting money and doing payroll

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.

Payroll evolves, and so do a payroll specialist’s duties

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:

1. Tapping into the power of data provides insights into your workforce and operations

This data is, indeed, crucial for the proper and timely administration of payroll, but it could also be so much more.

 

  • Apart from wage calculation, how useful is the information gathered throughout this process? One way of maximising this precious asset would be to analyse this data to gauge operations, detect trends and identify patterns and behaviours among employees.
  • In what scenarios are overtime and increased turnover rates linked, and conversely, in what areas do overtime affect productivity, quality, or even talent retention?

 

Learning how to read such data could give you a fresh perspective of the actual efficiency of internal policy making.

2. Appreciating the financial importance of payroll guides strategic decision-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:

  • Firstly, by using payroll data to analyse labour costs v/s active contributions per country of operation in the case of organisations operating in various countries.
  • Secondly, by analysing established office functions and their remuneration schemes, while weighing their contribution: is the function still convenient for a part-time employee who receives overtime pay, or does the workload simply make it more cost-efficient to consider hiring full-time employees?

Such questions guide smarter allocation of resources.

3. Maintaining employee experience is of the utmost importance to retain and attract talent

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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4. Optimising your internal resources and processes

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.

5. Reviewing data to ensure compliance

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.

Streamlined processes across every country of operation in Africa

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!

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GRANT GERAGHTY - Africa HR Team

GRANT GERAGHTY

HEAD OF CLIENT RELATIONSHIP

Grant Geraghty is the longest-serving member of the Africa HR team. This resident subject matter expert and client champion is responsible for gaining a deep understanding of our clients’ unique HR needs in Africa and providing tailored solutions that align with their business objectives. Grant collaborates closely with our clients to ensure that their requirements are properly implemented, providing ongoing support and guidance throughout the process.

Grant brings a wealth of experience to his role, having served as Africa HR’s longest-serving employee. He holds a Bachelor of Commerce degree, with a major in Economics and Business Finance, from the University of Natal in South Africa. Additionally, he has completed a certification program in Payroll and Tax Administration from the University of Cape Town, further enhancing his expertise in HR operations and compliance.

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KEVINA TAKOORDYAL Africa HR Team

KEVINA TAKOORDYAL

HEAD OF OPERATIONS

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.

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Viloshna is an experienced finance professional with 18 years of expertise in strategic financial planning, financial analysis, cash flow management, systems and controls implementation, financial reporting, and continuous process improvements. She currently serves as Head of Finance & Business Support, where she has successfully automated and leveraged the financial reporting system capabilities to ensure efficient company operations.

Viloshna’s background includes senior roles in a multinational pharmaceutical company and a large listed Mauritian conglomerate. Her meticulous attention to detail and strategic thinking have streamlined financial processes, making her a valuable addition to any finance team. Viloshna is a qualified finance professional with an FCCA qualification and an MBA, bringing valuable expertise to any organization.

In her current role, Viloshna leads the company’s Treasury and Payments function, including the fulfillment of the company’s cross-border payments into Africa. With her strong educational background and extensive experience, Viloshna consistently demonstrates her ability to optimize financial operations, minimize risks, and improve profitability. Her expertise in financial reporting and process improvements make her a valuable asset to any organization.

MARK DU PREEZ​

MARK DU PREEZ

Head of Legal & Compliance

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 Daruty - Africa HR Team

ALEX DARUTY

Head of Commercial

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.

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