Revealing the Post Pandemic Payroll Management System
The COVID-19 outburst has infected more than 38,426,539 people across the world until these words are put in place. With global markets whirling and citizens contoured in their homes, corporate imperatives continuity is being put to the biggest of the tests.
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Talking about Gross Domestic Product (GDP) which increased by 2.9 % in 2019, independent research suggests that it would decrease by 0.5 % till the end of 2020. Let’s get a closer look at the below stats for better understanding
Now, with such an enormous pressure at the helm, businesses are adapting novel systems and frameworks to embrace changing legislation and workforce planning to its best. While the work-from-home economy upsurging on one, companies are revamping their human resource management and payroll system on the other to get back on track.
Thanks to over-the-top technology advancements which are helping ventures explore the best post-COVID-19 payroll practices. These practices are the need of the hour and will indeed boost the livelihoods of the workforce alongside building safer ecosystems across the planet.
What’s the Take of Governments?
The 2020 pandemic has put Labour Law and Taxes on a constant move like never before. Acknowledging the big picture of retrenchments and decreased employment rates, Governments are leveraging robust measures to outline three significant fiscal intimidations.
Government bodies are stringently responding to human resource management system through tax liberations and emergency remunerations. These bodies are integrating such imperatives into the payroll system and increasing employment hours strategically. Moving forward with a pragmatic approach, organizations are altering their resources and recompense frameworks to abide by the statutory vicissitudes of the world.
Recognize to Digitize
The call for digitizing payroll and human resource management was never heard that critically as in times of this global pandemic. Today, SaaS-based digital platforms are offering an array of advantages to the businesses. On the other hand, the origin of cloud computing has unlocked countless opportunities for an organization to resonate active response to the crisis and stay in the pink of health.
The tech-enabled shift to cloud computing is a way towards resilient payroll management system. It is truly proving the aftermath of the COVID-19 explosion. Bringing the potential to automate payments to the table, these technologies help companies to disperse and dematerialize payroll movements thereby offering suitable employee experience.
360 o Payroll Experience
The upkeep of this information will definitely reinforce the precise decision-making irrespective of the physical absenteeism of the staff. Also, ventures that deploy official payroll software have the benefit of maintaining outflows in real-time when it comes to contemporary working environments.
Refurbishing their legacy working patterns of payroll with this pandemic is the new normal. It has the power to curate long-lasting impact across various industry sectors. Adapting and re-strategizing are of utmost importance to keep systems buoyant and reach the set milestone at this time of crisis.
The Big Picture
Scientists proclaim that biometric attendance is one of the prominent sources of spreading viruses and bacteria across the office premises. When it comes to coronavirus, this proclamation is for real leading to calling off the biometrics system. Yes, it would roll out big time setback to the biometric attendance sector as a whole.
But, unfortunately, this time of predicament and chaos is the reason for organizations to plan, execute, orchestrate, and successfully run alternatives to these attendance systems. It’s obvious to say bye to biometric attendance and hi to ‘Contactless Attendance System’ post-Covid-19 and welcome wellbeing.
As per the ABI research, the use of Contactless attendance systems will increase by 20% by the fourth quarter of this year. Also, organizations are steering towards Facial biometric attendance which can be easily distorted and hacked thereby misleading the respective board.
Here’s some insight to get up and close
|RFID Scanner||Radio Frequency Identification (RFID)||Thornton||Hard|
|Location-based Tracking||Global Positioning System (GPS)||Passable||Easy|
|Face Recognition||Computer Vision||Satisfactory||Easy|
Let’s tap into an example showcasing proxy attendance. Sameer has not made it to the office and shared his snap with Manish. Absence of Sameer makes no difference as Manish displays
his photograph to the Facial biometric system claiming Sameer’s presence. This information is shocking but true as Facial biometric systems are awfully hackable.
As per human identity is concerned, password protection proves more effective than a computer-enabled facial recognition or a finger biometric. Moreover, a leaked password has a privilege of resetting unlike face or finger biometrics. The United Kingdom has witnessed one million facial and finger biometric data breaches, says profound research.
Urban Security at the Helm
Be it HR body or any employment panel, it would never cherish a payroll system spreading viruses or promoting data breach. Time has come when next-gen Contactless Access Cards will prove their mettle in being an outstanding workforce solution. A solution which is unwavering, safer, non-biometric, and inducing digital transformation to its best.
Another alternative to biometrics is the Phone Tap – a framework designed to mark the attendance by tapping the phone on the admittance controller device. It’s a gateway towards secured office premises defining the true essence of a standalone infection-free payroll system. Just tapping the phone from a distance of 3.5 cm is enough to mark a safe attendance.
So, its time to explore a safe, secured, and corona-free urban corporate lifestyle with new hope and extra efficiency.