Payroll News Archives - Page 19 of 19

7 Tech Trends in HR and Payroll that are set to continue…

June 29, 2017/in HR NEWS, Payroll News/by jga2023

New technologies continue to enrich the ease of providing HR and Payroll services to employees, and we predict the following trends will carry on in the months and years ahead.

1. Cloud-Based Payroll & Payroll Services
The Cloud is becoming increasingly integral to almost everyone in everyday life, and this is the same within the workplace. Businesses have become increasingly dependent on big data storage that remains accessible on the move. We have witnessed the cloud revolutionise the way information is stored and accessed within the workplace. Cloud-based apps are providing cost-efficient, real-time flexibility and convenience and with data analytics becoming an ever more important aspect of the modern payroll and HR professional, we can only see Cloud usage increasing. Data tracking analytics from tracking employee hours, managing payroll, monitoring absence, benchmarking data or even making amendments – whatever the requirement, cloud data can be accessed in real time anywhere and at any time. Cloud services provide ultimate convenience and efficiency savings for payroll and HR departments alike, and as such we anticipate this trend will continue as upgrades continue to make it even more efficient.

2. A Growing Focus on Data Security
As businesses usage of cloud-based payroll & HR services increases, one primary concern that often accompanies its usage is security. Confidential employee data information must be protected, and this has led the way for third-party service providers to offer new security systems which are being taken up by HR and payroll departments to ensure they are adequately protected. Fraud, identity theft and corporate hacking is on the increase so protecting employee HR and payroll data has never been more important. Added security provides more assurance that personal employee information stays protected. This investment in HR & Payroll data security is a trend that will continue as hackers become more sophisticated with the way they access and utilise stolen data.

3. Customisation of Payroll & HR Software and Partnering with Multiple Vendors.
Most companies employ a wide-range of employees, from part-time hourly, salaried, and freelance to expats, inpats and globally based staff. More and more businesses are now recruiting an increasingly global workforce. These differences all require a custom approach to ensure that systems can output accurate employee data and payment calculations. The payroll & HR legislation is often complex across different global locations, and no solution can cover all parameters and possibilities across all countries. Subsequently, we are seeing more and more Payroll & HR Systems being customised to cope with unique company employee requirements. More and more businesses are now partnering with multiple vendors in order to ensure that they can accurately deliver sophisticated services to these diverse workforces. The one-system-fits-all approach is outdated. Suppliers are responding by specialising in niches where they can guarantee excellent levels of service and businesses are responding by being more demanding of current providers. Partnering with multiple service providers and customising internal systems is a trend we believe will continue. Employee retention metrics have been linked heavily with a business’s ability to offer accurate, accessible and efficient HR and Payroll services to its employees. Unique, bespoke and customised systems and engaging with multiple partners makes this possible.

4. Focusing on the Team, Not the Individual.
HR departments are focusing more on collaboration and integration now than ever before. Employees are assessed, and recruitment decisions are made based on cultural and behavioural profiling as opposed to just skills based assessments. This is a trend we have seen increase because employers are competing to be the brand of choice in their specialist markets to attract and retain staff. Businesses are subsequently recruiting talent based on team fit and by assessing how an individual may impact on overall team performance rather than just on individual performance alone. Skills based assessments are on the decline, but behavioural assessments are on the rise. With company growth and profits intrinsically linked to team performance, we see this trend continuing.

5. Embracing Data-driven Decisions
Data-driven decision making is a strategic practice within organisations reaching new levels of analysis and deployment. By utilising data, employers can make employment decisions regarding where and how existing employees should be managed and assigned. Based on the interests, personalities and skills of the employee, data-driven decisions can be made on a massive scale that has been proven to improve employee productivity and retention levels. By assigning roles to employees based on interests and personality profiling allows businesses to utilise its workforce more efficiently.

6. Employees Evaluations to Optimise Productivity
Employee evaluations are moving away from score-based systems towards various feedback routes from multiple sources. These are designed to focus more on continual performance, providing employees with specific feedback to help facilitate improvement. Offering frequent feedback fosters an environment which has been proven to increase employee productivity. Higher productivity results in increased profits for businesses so this is one optimisation process we see continuing as competing companies strive to be the brand of choice in their chosen markets.

7. Payroll & HR Robotic Process Automation and Predictive Analytics
Robotic Process Automation (RPA) is being utilised by businesses in increasingly smarter ways thanks to the cost savings automating processes can deliver. Many payroll processes can now be automated and virtual assistants and artificial intelligence is being applied to numerous payroll processes. Software is also being developed in a constant stream by developers to help HR & Payroll professionals analyse data in cleverer ways. Businesses are still discovering how best to use these RPA and analytics tools now at their disposal, and this has resulted in a new breed of payroll and HR professional emerging whose sole purpose is to effectively extrapolate, analyse and recommend (based on results) changes that can impact the bottom line.

Predictive analytics, in particular, are being incorporated to examine new and creative trends to help maximise profits. Information gained during payroll analysis can spot things such a fraud, overtime, sick days, and trends in the hours worked. When utilised effectively, the results can allow for HR and Payroll managers to implement significant cost-saving initiatives or spot costly fraudulent activities. The possibilities for how predictive analytics can benefit companies are endless so we see this trending for some time as HR and Payroll departments become smarter with how they can be incorporated and developed to improve efficiency. An increase in the need to hire skilled HR or Payroll Analytic Specialists is likely to follow.

This is by no means an exhaustive list. The HR & Payroll tech landscape changes extremely quickly and it is clear that if these trends are set to stay then payroll & HR professionals need to prepare for a more accessible, cloud-based, robotic and data driven future

I would welcome your views on how you see the market, what you see changing and which trends you think are here to stay (for now)…

Thanks for reading.

Please share and comment – I will try to interact with as many as possible!
This article was written by Nick Day, Managing Director at JGA Recruitment – the leading Global Payroll and HR Recruitment Specialist Employment Agency.

If you are looking for expert talent in the fields of Payroll, HR or Reward, then please reach out for a 15 minute ignition call and I would be delighted to discuss how we can help.
Nick Day
Managing Director
JGA Payroll & HR Recruitment
Email: nick@jgarecruitment.com
Tel: 01727 800 377

Hidden ROI

May 31, 2017/in Payroll News/by jga2023

Hidden ROI: Hiring the right talent results in better retention

Return on investment is no always one-off concrete figure.

Much of the benefits can come over a longer period of time, the better the investment, the longer the compounding of the return will continue. When we are considering the recruitment of an individual into a business, this is certainly the case.

The impact that the right person can make is hard to measure, but you can be sure that the ripples will spread far beyond their immediate circle. They might leave after three years, but their decisions will live to take the company to the next level. Even so, it is true to say that it is best that fantastic performers stay for as long as possible.
There is an interesting conundrum here.

Not all fantastic performers are guaranteed to stay in a job for any decent length of time. Why? Because the job has to be an excellent fit for them. Otherwise, they will leave pretty swiftly for something more compelling. The key, therefore, is not blindly recruiting the best people in the market but ensuring that the best talent is matched up with the most suitable roles. It may be the case that the stand-out performer is not the stand-out candidate – if they are not happy with the challenge, they will not stick around long. If the second placed person is super keen for the role, they would probably be the better hire in the long run.

Eleven David Beckham’s in a football team would not win the Premier League.

Great teams are not collections of gold medal winners. They are a mix of gold, silver and bronze winners, but with one commonality. Eleven David Beckham’s in a football team would not win the Premier League. Instead, a successful team should include a mixture of skills and attributes that when brought and harnessed together, brings group success. A robust and prosperous workforce is one where everyone is willing to work their socks off to help their company be the best. An excellent example of this was evident last year when Leicester, against all the odds, won the Premier League. A team of few known stars before the season began, but a team where every single player worked tirelessly for each other to achieve a united goal and attain ultimate success. Talent without drive will walk out of the door.

The key for the most successful recruiters is therefore to understand the secret sauce of the hiring company. Why do their people love working there? What sort of individuals do well there? What kind of challenges will the role present (or not, as may be the case)? Only when a recruiter knows this, can they understand the type of person that they need.

Are we negotiating the wrong metrics?

Most recruitment processes measure ROI based on the costs associated with attracting and then offering an applicant a job. Businesses work hard to negotiate fees, and recruiters work hard to maintain fee levels. To me, this the wrong way to look at it. Retention should measure real ROI. It is no good hiring a superstar candidate cheaply if they leave six months later and you have to start the recruitment process again from square one. In this scenario, you pay two sets of fees, and it is likely you will be in the same place again six months down the line. By measuring retention, you can also measure value added by an employee over a length of time. This metric is significant because, in my opinion, businesses would be better off negotiating rebate periods or offering exclusivity instead. Employers rarely benefit from an excellent recruitment process when they offer a vacancy to multiple agents at low fees. The net return is likely to be lots of recruiters racing against each other to fill a position in a contest that rewards speed over quality and subsequently, poor quality hiring decisions to occur. Hidden ROI instead is found in the levels of retention, development and promotion of a successful hire where value is measured over a sustained period.

On a simpler note, think about this. If a job isn’t expected to require a significant amount of creativity over the next two years, why would you recruit a super-strategic innovator? I know that this sounds like a stupid question, but you would be surprised by the number of superstars hired to do a role that could be performed perfectly well by their side-kicks.

As we approach full employment in the UK (whatever that means with the rise of the gig economy), it is worth remembering that in an increasingly candidate-led market, people will leave sooner rather than later if they don’t feel that a role is challenging them. You then have to start the recruitment process all over again and you will probably more often than not fall into the same traps over and over. It is a demotivating cycle of attrition.
• So, how do you measure Recruitment ROI?

The bottom line?

Happy, United and challenged talent = stable workforce and lots of hidden, long-term ROI

Please like, share and comment and I will do my best to respond!

This article was written by Nick Day, Managing Director of JGA Recruitment – the leading Payroll, HR & Reward Recruitment Specialists.

If you are looking for expert talent in the fields of Payroll, HR or Reward, then please reach out for a 15 client engagement ignition call and I would be delighted to discuss how we can help.
Nick Day
Managing Director
JGA Recruitment Group Ltd
Payroll, HR & Reward Specialist Recruiters
Email: nick@jgarecruitment.com
Tel: 01727 800 377

How does a business measure recruitment success?

May 31, 2017/in Payroll News/by jga2023

‘4 Recruitment Rights to Avoid a Left’ Strategy to achieving effective recruitment analytics.

Those not directly involved in the world of recruitment and talent acquisition will often view it as a being a bit like a giant supermarket of people and jobs. Go to the right department and grab the job, match it with a person from another aisle. The reality is quite different, and I would prefer to compare it to stockbroking. It is wildly diverse and quite often moves at the speed of light. Success or failure can take place in the blink of an eye.

So, given that fact, how do businesses or recruiters quantify their success? There are multiple metrics used to measure the success of a given recruitment process. However, only very rarely in the volatile and diverse environment of recruitment does a single metric tell the complete story.

Successful talent acquisition requires an analysis of a combination of parameters to ascertain if a hiring process was or is a success. Significantly, we need to agree that stating that a process was a success or a failure is simply too generic. Instead, we need to assess and measure its success actively.

Determining success can be achieved by using and analysing multiple talent acquisition metrics. There are five key metrics to consider which I call “4 Recruitment Rights to avoid a Left”:

• Right Person?
• Right Role?
• Right Time?
• Right Price?
• Left Tenure?

We very often focus our attention on what CAN be measured and fail to see that not everything SHOULD be measured. Additionally, we don’t always appreciate that the way we quantify or analyse those measurements can change, just as every aspect of recruitment is subject to rapid-fire changes.

Recruitment is a fluid and fast process and subsequently subject to changing very quickly. Multiple parameters should be reviewed, and ideally, if all metrics are working in harmony, they can tell us if we have done our job well. The six parameters I would recommend utilising to give you the most robust information (when viewed as a group) for you to assess whether your hiring processes are efficient and fruitful are these:

1. Retention Rates (how long the new hire stays with the company):
The retention metric analyses how many resignations and involuntary turnovers a business has had. How many people stayed with the company for less than three months? If you’re hiring people who leave the company within the first 90 days, it’s most likely that the company has not experienced a real return on investment (ROI). It is costly to recruit, engage, on-board and train new starters to do the job for which they were hired. Whether they resigned or involuntarily dismissed, the reality is that it was the wrong person for the job or you as the recruiter miss-sold the opportunity. The number of times this happens will dictate whether you are hiring the right people or not. They may also highlight potential areas for improvement within your recruitment process.

2. The overall time it takes to hire:
While this is a metric that is sometimes overused or used incorrectly, it is one that should be measured. A quick hire isn’t always the best hire, but conversely, the longer that you wait to on-board a candidate, the costlier the hire will be. If a candidate waits for a considerable time for an offer to come, quite often they will remove themselves from the running or be recruited by other companies, and you’ll be left with the least viable candidates. This can be costly in many ways since the most desirable candidates may be out of the running; it could cause you to lower your recruitment standards and hire someone less suitable and more than likely it will take your business longer to recruit – all of which are issues that will cost your company time and money.

3. The cost of hiring:
The actual cost of hiring has been traditionally quite difficult to pinpoint. Are you analysing costs regarding financials or time (or both)? Has the applicant added value to the business? The cost of hiring is, therefore, a metric that is only helpful or applicable when considered alongside other metrics such as retention rates and value and is not easy to determine when assessed singularly.

4. Hiring Manager Satisfaction:
Most hiring managers say that internal recruiters have a low to moderate understanding of the jobs for which they recruit. This is fair enough as typically they will be required to recruit for many different roles across multiple specialist areas and it is impossible to be an expert in every industry. Therefore, internal recruiters will often engage with specialist agencies such as ourselves (JGA Recruitment). If they don’t then hiring managers may report not always being happy with the calibre of candidates sent. Sending out surveys to the hiring managers and asking for their input on the job that you do is a great way to track how successful your candidates were. With new technologies, available that allow hiring managers to answer surveys quickly and easily electronically, they are now more likely to respond and give you the information that you need to learn from each hire.

5. Value the hire adds to the business (post-placement):
How well does the employee fit in and what value have they added to the company since joining? The hiring manager can tell you the answer to that and will do in your surveys. If the hire has added enormous value, saved time or costs, improved efficiency, or enhanced customer service then these are tangible and measurable benefits realised by the company and will help validate the hire for you and your client.

6. Increasing market share or reducing the strength of a competitor (by hiring their talent):
Did you hire away talent or a good employee from one of your competitors? If so this can dramatically increase the value of your company and your market share while lowering the strength and the value of the other. This is an excellent metric to use when determining if your hire was successful and added good value to the company or not.

There are many other metrics used to determine the value and the quality of a hire as well as those listed above. There is not, contrary to belief, one metric that will provide you with an ultimate overview of the value of a recruit. If there is one that speaks more loudly than the others, it is quite likely to be the longevity retention rate metric, which not only defines how satisfied the employee is but also how happy the hiring manager and other staff are with the recruit. That said, with so much changing so quickly in the employment scene, it truly takes multiple types of data and careful analysis to determine whether or not your hire is “valuable” and therefore “successful”. Use every metric you can find that is relevant to your particular hire to evaluate how well you’ve done your job and continue learning and growing to keep building on your methods.

If you have a niche payroll, HR, Reward or Marketing vacancy that requires assistance, why not consider engaging JGA Recruitment to help with your recruitment process. Contact us at info@jgarecruitment.com or call 01727 800 377 and speak to a specialist today.

• How have you historically measured recruitment success?
• Have you learned anything from this article – please share?
• Which matric do you think is most important when measuring recruitment success?

Please share and comment – I will try to interact with as many as possible!

This article was written by Nick Day, Managing Director at JGA Recruitment – the leading Payroll, HR & Reward Recruitment Specialists.

If you are looking for expert talent in the fields of Payroll, HR or Reward, then please reach out for a 15 minute ignition call and I would be delighted to discuss how we can help.
Nick Day
Managing Director
JGA Recruitment Group Ltd
Payroll, HR & Reward Specialist Recruiters
Email: nick@jgarecruitment.com
Tel: 01727 800 377

20 Essential Traits of a Successful Person

May 31, 2017/in Payroll News/by jga2023

Who do you think of when you think of a successful person? Start thinking about successful people and you’ll quickly find that these individuals act differently and think differently.

They have habits and behaviours that set them apart from less successful people. The good news is you can learn from the habits of others. Start adding these traits to your life and maybe success (as you define it) will become closer than you think…

1. They lead from the front (but delegate when possible).
Successful people lead from the front. They’re leaders. They don’t want someone else to lead the way. However, they also delegate as many things as possible and empower the teams around them. Instead of trying to figure out how to do everything, figure out how to get things done, delegating tasks whenever you can.

2. They don’t do it if they don’t enjoy it.
If you want to achieve success, stop doing things you don’t enjoy. It is a waste of time and will keep you from achieving your goals. Successfully people do the things they love! So, whatever it is you are passionate about, do more of it!

3. They climb mountains.
Okay, so maybe they don’t all climb mountains, but they do set goals for themselves and stick to them, Successful people set goals, and once set; nothing should stand in the way of achieving those goals. So be 100% committed to your goals and do not stop until they have been achieved. Then set new ones! Keep advancing the boundaries and be adventurous (see point 4).

4. They are adventurous, take risks and explore the unexplored.
The road to success is an adventurous one, and people who achieve success are willing to take risks. Be willing to explore uncharted territory that’s never been explored before. When was the last time you stepped out of your comfort zone? Try it; it may open-up new pathways you never previously knew were open to discovery.

5. They may mistakes then bounce back from them.
On the road to success, you’re going to make mistakes. However, successful people learn to learn from these mistakes and then bounce back. Mistakes are a learning opportunity. Don’t be afraid of making mistakes. Demonstrate ‘bounce back ability’. If you muck up, learn from it, move on, and do better next time.

6. They strive for brilliance.
Mediocrity isn’t enough if you want to be successful. The most successful people strive for brilliance. Good isn’t good enough – great is what you should strive for.

7. They show compassion, nurture positive relationships and understand the importance of teamwork.
It is rare that one achieves success alone. Successful people cultivate positive relationships. Show compassion for others as you will find more positive opportunities occur to those individuals who nurture healthy relationships. Successful people also harness the power of effective teamwork to help them to achieve their success. As the saying goes “teamwork makes dreams work”

8. They stay healthy.
Staying healthy is crucial to achieving success. Most successful people exercise either the mind or the body (or both) regularly. Keeping the body and mind healthy is essential. Staying active improves physical health and your mental state, helping you on the road to success.

9. They are positive and enthusiastic (energy is everything).
Enthusiasm and positive thinking are huge difference-makers that sustain you on your road towards success. Being positive and enthusiastic is a choice. Even if you don’t feel like it, remember energy is everything. Aim to be the most positive person you know and the most energetic in the room.

10. They are persistent and never give up.
You need dogged determination to succeed. You’ve got to finish what you start. You need to be persistent. Remember, life will reward persistence. It doesn’t matter if you’re “qualified” or if someone else tells you something is not possible. Don’t let anyone else steal your dreams away. Be dogged, be persistent and then show those that doubted you later what you can achieve.

11. They take responsibility for failure.
When they fail, successful people assume the responsibility. They realise they’re masters of their own destiny. They don’t complain about the failures that kept them from achieving success. They don’t make excuses for failure. Neither should you. Success comes from first, being honest with yourself and then being honest with others. Take responsibility for the good and the bad and never stop learning (see point 12!).

12. They constantly strive to learn.
Learning never ends, and successful people realise that. Even if they’re not going back for formal education, they’re always learning new things. Learning from other people, reading, and heading to conferences etc. Striving to develop in all areas of your life and broadening your knowledge will keep the entrepreneurial spirit and energy burning.

13. They believe in themselves and their vision.
You’ve got to believe in yourself, even if others doubt you. Those who achieve success believe in themselves and the vision they have for the future. You’ve got to believe first before you can get others to believe. If you don’t believe you can achieve your dreams, you never will!

14. They don’t listen to negativity.
You’re going to come across negativity on your journey. There will be plenty of naysayers along the way. But successful people don’t listen to the negativity around them. To be negative is the easy option. It takes courage and conviction to be positive. However, it takes courage, conviction and positivity to be successful!

15. They are the most enthusiastic person they know.
The enthusiasm of successful people often makes the difference. Spend some time with people who have achieved great success. You’ll quickly find that they are some the most enthusiastic people you’ll ever meet. Harness this enthusiasm yourself, and you’ll be on the adventurous road to a prosperous future.

16. They say “yes” more.
Be willing to say “yes” to opportunities more often than others helps successful people get ahead. Sometimes embracing the unknown and just taking a leap can open doors and bring significant opportunities into your life. The next time you want to say “no” try saying “yes” instead and see where it leads…

17. They are giving and charitable to others.
Do you want to receive? If so, you’ve got to be giving and generous to other people. Some of the best relationships that can help you reach the success you crave could come from an unlikely source. By giving to others, you not only give something back to the community, but it improves wellbeing, promotes positivity and provides hope.

18. They act! They took their first step to success yesterday!
Sometimes the biggest step is the first step, and successful people are people of action. They take their first step immediately. They don’t wait around. Every step you take is going to get you closer to your goal of success. So, whatever success looks like to you, take that first step towards it today.

19. They work harder than those around them.
Most people never enjoy the success they want because they’re not willing to work hard enough for it. Successful people work harder than anyone else around them, which is why they enjoy results. Are you working harder than those around you? You know internally if you are working as hard as you can or if you are idling by. Be honest with yourself, then up your game!

20. They take the time to rest and recharge.
Yes, to achieve success, successful people work incredibly hard. However, push yourself too hard, and you’ll break. Successful people realise that they also need time to rest and recharge so they can push it to the limit again. Take the time to relax, and you’ll be more effective when you get back to working on your dreams. Spend quality time with your family or those that you love, after all, who is all this success you want to achieve ultimately for?

Please like, share and comment and I will do my best to respond!
This article was written by Nick Day, Managing Director of JGA Recruitment – the leading Payroll, HR & Reward Recruitment Specialists.

If you are looking for expert talent in the fields of Payroll, HR or Reward, then please reach out for a 15 client engagement call and I would be delighted to discuss how we can help.
Nick Day
Managing Director
JGA Recruitment Group Ltd
Payroll, HR & Reward Specialist Recruiters
Email: nick@jgarecruitment.com
Tel: 01727 800 377