Top 5 HR Probelm SMEs Will Face - AYP GroupHuman Resources (HR) are important to all businesses, regardless of their size. However, these can often be overlooked in Small-to-Medium Enterprises (SMEs). As many of them lack the capacity to hire a full HR team, the HR tasks are often managed by a single employee or by an executive. Managing these HR practices in-house can give rise to a host of issues and challenges.
In this article, we will be discussing some of these common challenges, and how a Human Resources Management System (HRMS) could greatly benefit an SME.
1. Time Tracking
Different countries will have different regulations regarding work hours, paid leave, vacations and overtime for employees. Fair time tracking and payment are necessities in terms of employee welfare and satisfaction.
Furthermore, disobeying these regulations can leave your business liable to legal action. This will not only cause a massive crater in your business’s finances; it will be incredibly detrimental to your business’s reputation and image as well.
Time tracking manually is often time-consuming and prone to human error, so having a solid online tracking platform in place will help ensure that your employees are being paid, and are working fair hours.
JuzTalent’s eTime function is designed to keep you compliant with all regulations, no matter which country you are operating from. The eTime function allows for fuss-free workforce management, and provides you with accurate, real-time attendance and time reports.
Not only does this ensure that you can keep track of working hours easily, it also allows for easy scheduling of work hours. This saves time, energy and in the long-run, even money for SMEs and their employees alike.
“Money makes the world go round” is a common saying, and this is the same for your business as well. Efficient, accurate payroll management can quite literally make or break your business.
For many SMEs, managing and processing payroll and taxes can be a time-consuming and challenging task to deal with. While it is a hassle, proper bookkeeping and tax filing play an integral role in the survival and success of your business.
The penalties incurred from non-compliance can also add up to be a huge financial burden to SMEs. Financial repercussions aside, inaccurate and late payroll will affect the satisfaction and productivity of employees, which will in turn impact the retention rate of your business.
Thankfully, JuzTalent’s ePayroll platform will help you combat this. Not only does it process accurate payroll in just the press of a few buttons, it ensures that you stay compliant to all tax legislations and regulations in whichever country the SME is operating in. This will save SMEs a boatload of time, money and trouble.
Navigating Economic Uncertainty: HR Strategies for Business Resilience Tap in to explores the pivotal role of Human Resources (HR) in shaping business resilience during economic uncertainty
Navigating Economic Uncertainty: HR Strategies for Business Resilience
Tap in to explores the pivotal role of Human Resources (HR) in shaping business resilience during economic uncertainty
3. Performance and Personal Development
For many SMEs, managing performance and development are significant challenges faced. Performance appraisals are often poorly structured, done haphazardly or not documented at all. While performance management is often overlooked in SMEs, it is a powerful tool to affirm, encourage and motivate employees.
Overall, this will enable employees to have a clearer direction towards their personal development, and also in helping your business achieve its goals. Performance management ensures that employees have a clear sense of the role they have to play in the SME’s overall success.
JuzTalent’s eProfile page allows for employees to create their own profiles and input their data. This includes organisation data and access to workforce analytics.
Accompanied with other functions such as eTime, JuzTalent is a functional and useful tool that can be used to better manage and get directions on performance management and development.
It’s no secret that HR tasks can be a major challenge for many SMEs. However, with the right planning and systems put into place, this doesn’t have to be so. JuzTalent provides you with a fuss-free, comprehensive platform to manage all your HR needs.
In turn, you can focus on scaling up and growing your business, completely worry-free. We know that HR can be a complex issue, and have designed a webinar just for this. Our HR Clinic Webinar is designed to tackle all of HR’s pain-points, including payroll, taxes and general human resources.
Happening on 16 December, it is our final webinar of the year, and limited to 100 registrants.