HR management solution: The role of Payroll and Compensation
HR management web solution is something every organization can use and take advantage of but rarely take the step towards adapting. Any HR department has many different tasks and you need to allocate different resources, time, and managed employees to each service according to your needs. In big corporates, often the need for this is dire comparatively to smaller organizations which can be handled with one HR head due to it’s smaller team and simpler tasks, rewards, and compensation management system. HARMONY is SOFCOM’s leading HR management solution that is known for its global work as a top HR management web software.
It has multiple different main modules to deal with the different needs of any organization, particularly about HR-related functions. Talent management makes a big part of Harmony, and why it is such a credited HR management software for many organizations. But today’s main highlight is Payroll and Compensation, how Harmony’s own multiple modules within this subcategory of HR management helps the organization. Let’s look at the multiple topics and parts Harmony looks after under it’s Payroll and Compensation function:
Payroll
Provident fund
Gratuity
Pension
Loans/Advances
Final Settlement
Expense management
Fund accounting
Payroll / Provision JV
Overtime
Bonus
Employee old-age Benefit (EOBI) and Employee Social Security (ESSI)
Workers’ profit participation fund calculation
Payroll budgeting / Planning
All of these above functions are very efficient and in a structured form looked after under Harmony’s payroll and compensation category. The HR management system Harmony has clearly made it useful to have a software that can help an organization improve its HR function and take the entire load off of the human resource team to do each employee’s separate compensation plan manually. If you are looking for any HR management web system to look after the payroll function within your organization. Harmony is the perfect option to go for.
