How cloud-native solutions help HR and payroll work together
Payroll and HR have historically been seen as separate entities – but this is no longer an accurate stance.
The old notion that payroll is finance and HR is people is an oversimplification, as payroll directly impacts the happiness and satisfaction scores of your employees.
It encompasses critical functions like remuneration, benefits, leave allocation, salary budgeting, and even employee loans.
All of these are critical contributors to the happiness of your workforce – making it critical that you bridge the gap between your payroll and HR teams.
Complexity creates problems
While there are still certain simple and straightforward tasks – like generating payslips – many others are complex and have significant overlap with your HR team.
For example: If your business operates in multiple regions, it is important that payroll and HR are on the same page to ensure that factors like varied payroll cycles and regulatory landscapes are accounted for appropriately.
Thankfully, there is a solution – cloud-native payroll technology.
Cloud-native payroll technology is the fundamental facilitator for collaboration and cooperation between your payroll and HR teams.
These tools – like PaySpace for payroll – ensure these teams don’t need to operate on different timelines.
Instead, PaySpace begins performing important payroll tasks at the beginning of the month, and tracks necessary information – like bonuses, leave, and deductions – in real-time as the month continues.
HR teams therefore have access to real-time data and information without needing to fight with the payroll team to generate this information.
Furthermore, cloud-native payroll systems like PaySpace integrate directly into your other HR tools – like HCM systems and time-tracking solutions.
These API integrations ensure your payroll and HR data is always up to date, and everyone who needs access to important information has it in real time.
Embrace cloud-native payroll
When your payroll is designed to be cloud-native and real-time, it becomes a critical part of your HR team’s decision-making process.
This expands the opportunities for both your payroll and HR departments to do their jobs effectively – resulting in happier employees and a more productive workforce.
Click here to learn more about the power of cloud-native payroll solutions like PaySpace.
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