Paying your staff correctly and on time is one of the most important day-to-day functions of your business. But you also have to handle lots of highly sensitive data when you run payroll, and protecting that data is critical.
If you have staff you will inevitably have periods of employee absence whether that’s due to sickness, injury, planned periods away from work or other reasons such as bereavement leave. Absence is a significant cost to business but according to research, two thirds of organisations don’t monitor it. However, monitoring absence can give you a broader view of the health of your business and support employees by offering clear guidance on absence and your company’s sickness policy.
If you’re growing your business from the ground up, it’s inevitable that you’ll eventually take on extra pairs of hands when things get busy. And if you hire new people you’ll need to pay them - this is where payroll comes in.
It’s a question that arises often, especially towards the end of the year when you may have a number of employees with holiday still owed to them. Understandably, you might not want them to take time off and leave you short-staffed. But that doesn’t necessarily mean you’re able to pay them instead for any holiday they haven’t taken.
It’s tough when you lose trust in any relationship - because it can seriously damage that relationship - sometimes irreparably. It’s especially tough with a valued employee because not only does it summon up feelings of failure and disappointment, it can have a material impact on your business.