Managing talent encompasses lots of activities. Organizations need to give a growth-oriented environment to the employees so that they can give their best and meet their professional objectives too. This process can be made more systematic and well-coordinated with the help of payroll software that can do functions like:
- Attendance management: Employees need to complete certain hours of the day to claim salary. Some organizations are flexible with in and out times. Others mark the day as half day if the employee is not reporting before a certain time. To accommodate workers stationed in remote locations or doing field job, GPS attendance system is used. Timesheet works for those who are working at hourly rate. All these attendance recording systems are available in payroll software.
- Performance or goal management: Goal or performance management includes goal assessment, assigning of goals to the employees, performance measurement, training need assessment, bonus and appraisal calculation on surpassing goals. All these activities can be documented in payroll calculation software. It brings transparency in the way of working of organization.
- Salary and bonus/incentives: From attendance and performance management records, one can get inputs for salary and bonus/incentives calculation. The ways to reward employees include hike in pay, announcement of bonus, incentives payment, paid travel, and so on. All necessary intimations can be accessed by employees through employee self service portal where salary, bonus, incentives, leaves, and etc. are uploaded on a timely manner in password-protected environment. Promotions to higher posts also form important part of talent management
Training and induction are the starting points of talent management process. Training can also be given in between jobs to make the employees comfortable with changing needs of new jobs assigned to them. With the help of employee management software, training schedule management becomes easier and faster.