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The continued growth of web-based and web-enabled HR software and systems, which includes:
Non-web HR software trends - continued growth of:
HR software market trends - continued growth of:
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Wednesday, March 7, 2012
Friday, December 2, 2011
Peformance Appraisal
Performance appraisals are widely used in the society. The history of performance appraisal can be dated back to the 20th century and then to the second world war when the merit rating was used for the first time. An employer evaluating their employees is a very old concept. Performance appraisals are an indispensable part of performance measurement.
Performance appraisal is necessary to measure the performance of the employees and the organization to check the progress towards the desired goals and aims.
The latest mantra being followed by organizations across the world being – "get paid according to what you contribute" – the focus of the organizations is turning to performance management and specifically to individual performance. Performance appraisal helps to rate the performance of the employees and evaluate their contribution towards the organizational goals. If the process of performance appraisals is formal and properly structured, it helps the employees to clearly understand their roles and responsibilities and give direction to the individual’s performance. It helps to align the individual performances with the organizational goals and also review their performance.
Performance appraisal takes into account the past performance of the employees and focuses on the improvement of the future performance of the employees. Here at ValueHR, we attempt to provide an insight into the concept of performance appraisal, the methods and approaches of performance appraisal, sample performance appraisal forms and the appraisal softwares available etc. An attempt has been made to study the current global trends in performance appraisal.
The performance appraisal process has become the heart of the human resource management system in the organisations. Performance appraisal defines and measures the performance of the employees and the organisation as a whole. It is a tool for accessing the performance of the organisation.
The important issues and points concerning performance appraisal in the present world are:
The focus of the performance appraisals is turning towards career development relying on the dialogues and discussions with the superiors.
- Performance measuring, rating and review systems have become more detailed, structured and person specific than before.
- Performance related pay is being incorporated in the strategies used by the organisations.
- Trend towards a 360-degree feedback system
- The problems in the implementation of the performance appraisal processes are being anticipated and efforts are being made to overcome them.
- In India, the performance appraisal processes are faced with a lot of obstacles, the most prominent being the lack of quantifiable indicators of the performance.
GLOBAL TRENDS
The emergence of following concepts and the following trends related to Performance appraisal can be seen in the global scenario:
360 Degree Appraisal
360 degree feedback, also known as 'multi-rater feedback', is the most comprehensive appraisal where the feedback about the employees’ performance comes from all the sources that come in contact with the employee on his job. Organisations are increasingly using feedback from various sources such as peer input, customer feedback, and input from superiors. Different forms with different formats are being used to obtain the information regarding the employee performance.
Team Performance Appraisal
According to a wall street journal headline, "Teams have become commonplace in U.S. Companies". Most of the performance appraisal techniques are formulated with individuals in mind i.e. to measure and rate the performance of the individual employee. Therefore, with the number of teams increasing in the organisations, it becomes difficult to measure and appraise the performance of the team. The question is how to separate the performance of the team from the performance of the employees. A solution to this problem that is being adopted by the companies is to measure both the individual and the team performance. Sometimes, team based objectives are also included in the individual performance plans.
Rank and Yank Strategy
Also known as the "Up or out policy", the rank and yank strategy refers to the performance appraisal model in which best-to-worst ranking methods are used to identify and separate the poor performers from the good performers. Then the action plans and the improvement opportunities of the poor performers are discussed and they are given to improve their performance in a given time period, after which the appropriate HR decisions are taken. Some of the organisations following this strategy are Ford, Microsoft and Sun Microsystems.
Payroll Processing
Payroll Processing
As a business with employees, you have certain important responsibilities. Having an understanding of these responsibilities will help you in making certain that you comply with the law. All employers must:
• Withhold appropriate taxes from employees. These taxes include the federal, state, and local taxes the employees must pay, and the employee's portion of Social Security and Medicare taxes. You withhold the income taxes as the employee has designated.
• Set aside funds for these payroll taxes, including both employer and employee portions of Social Security / Medicare, and employer liabilities for unemployment compensation and worker's compensation.
• Remit (pay) both the employee taxes and employer taxes to appropriate agencies. For example, you will pay both the federal income tax withholding and Social Security/Medicare amounts to the IRS.
• Report tax liabilities to appropriate agencies and to employees, as specified by law.
• Provide other reports to federal, state, and local agencies as required. For example, you must report the employee status of all new employees.
Payroll Structure
There are few fundamental that you have to keep in mind:-
Basic should not be less than 35%
HRA:- generally half of Basic
Conveyance :- Any amount but up to 800p m is tax free
Medical now is it allowance or reimbursement?
Allowance is taxable and reimbursement up to 1250pm tax free
Deductions:-
PF:- Pf is 12% of Basic .(employee construction)
there is also employers contribution of the same amount:-12%.some company’s include this in the CTC and some just include employee contribution. So you need to check what is the amount offered to the employee at the time of joining.
PF is deducted only if Basic is less than equal to 6500p.m
ESI:-If the total gross salary of an employee is less than and equal to 1000 per month then ESI is deducted @ 1.75@ of gross salary(employee share) and 4.75%(employer share, again you need to check whether it is included in the CTC or not)
Taxes:- as per the law
Click here for detail
As a business with employees, you have certain important responsibilities. Having an understanding of these responsibilities will help you in making certain that you comply with the law. All employers must:
• Set aside funds for these payroll taxes, including both employer and employee portions of Social Security / Medicare, and employer liabilities for unemployment compensation and worker's compensation.
• Remit (pay) both the employee taxes and employer taxes to appropriate agencies. For example, you will pay both the federal income tax withholding and Social Security/Medicare amounts to the IRS.
• Report tax liabilities to appropriate agencies and to employees, as specified by law.
• Provide other reports to federal, state, and local agencies as required. For example, you must report the employee status of all new employees.
Payroll Structure
There are few fundamental that you have to keep in mind:-
Basic should not be less than 35%
HRA:- generally half of Basic
Conveyance :- Any amount but up to 800p m is tax free
Medical now is it allowance or reimbursement?
Allowance is taxable and reimbursement up to 1250pm tax free
Deductions:-
PF:- Pf is 12% of Basic .(employee construction)
there is also employers contribution of the same amount:-12%.some company’s include this in the CTC and some just include employee contribution. So you need to check what is the amount offered to the employee at the time of joining.
PF is deducted only if Basic is less than equal to 6500p.m
ESI:-If the total gross salary of an employee is less than and equal to 1000 per month then ESI is deducted @ 1.75@ of gross salary(employee share) and 4.75%(employer share, again you need to check whether it is included in the CTC or not)
Taxes:- as per the law
Click here for detail
Web Based Payroll System
Value Pay comes in different models catering to all levels of companies and their needs. Suitable for companies from 5 employees to 5000 employees.
These can be multi company, Departmental and location payroll. The payroll processing services help increase the profitability of business manifold. Value Pay acts as ideal payroll calculation software for organizations that wish to expand the business, but are incapable as they lack the extra resources or time. The numerous features of Value Pay make it a perfect and most sought after payroll software solutions for efficient and smooth working to personnel and finance departments
Value Pay is a compact Package, designed to provide a sophisticated, state of the art web technology, aimed at bringing about total quality in Employee Payroll management. The system focuses on excellent coordination between Administration and Employees. In the present day market, where employee is the king, this system corroborates the motto, of being "Employee Centric".Value Pay provides, online integrated information of employees to the administration, enabling transactions with corporate employees through seamless connectivity with robust security and privacy features. The technology, solutions and features are aimed at providing unlimited "scalability". Value Pay provides end-to-end employee service operations and high level of efficiency in recording and information dissemination thus reducing errors.
Salient features of Our Software are given below:
• Employee Details.
• Salary details.
• Payroll processing.
• Employee's OT details.
• Employee's Earnings & Deductions.
• Employee's Insurance.
• Employee's daily attendance.
• Employee bulk attendance.
• Employee Self Services
• Loan Management
• Advance Management
• Arrear
• Reimbursement
• Festival
• Leave Management
• PF, EPS & ESI Management
• Location, Branch, Department, Grade Details
• Full & Final Settlement
• Email Notification
• Import and Export Excel Files.
• Database Backup
• Change employee status & department.
• Edit routines.
• Comprehensive reports.
• Multiple companies
• Multiple users with connectivity from anywhere in the world.
• Masters.
• Security administration.
Human Resource Management Software
Valuepay is our own developed Human Resource Management System for employees, management and the Company. Based on specific needs of the company's employees and the management, the HRMS system is customized by Activa Softech Ltd.HRMS to access from web in a secured way within Intranet. We are truly satisfied with HRMS performance and its significant contribution towards organization expansion. HR department jointly with the Software division. Its developed using ASP.Net 3.5 and SQL Server 2005 as a database. Usage of advanced technology and sophisticated IT tools facilitate
Software Modules :
• Organisation Management
Organisation structure such as company, location, department, designations, employee group and Organisation change such as resignation, termination, transfer, promotion, Full and Final etc.
• Security Management
Roles management, users management, menu authentication and authorization
• Time Management
Attendance Machine Integration, manual attendance facilities, overtime application and approval, shifts management on duty application and approval
• Leave Management
Leave types, leave application and approval, manual approval, yearly and monthly processing of leave, leave rules
• Employee Information Management
employee master, academic information, organisation information, past experiences, employee leave information, JD's, Training information, pay structure information(on demand), passport details(on demand), nominee details(on demand), Complete Bank Details, Details to Configure Organogram
• Payroll Management
Pay elements configuration upto N number of elements, single pay structure assignment to multiple persons, formula based pay structure designing(dependent and independent element wise), Bonus, Gratuity, Super annuation, pay structure revision depending on Performance management system, pay arrears, loans and advances, reimbursement elements, full and final settlement, pay adjustment, employee message, all the statutory reports, Reports according to factory laws, GLWF, ESIC, Provident Fund Configuration, Taxes configuration, TDS--Form 16, overtime payment, leave encashment, pay run and authorisation. Change pay process, pay check list, post earning.
• Recruitment or Staffing
Candidate information form at entry level, advanced level, whole recruitment cycle--MPR (Man Power Request) Or Staff Requisition, Man Power planning according to estimated budget, Man approval at different levels, recruitment expenses, consultant interface(on demand), integration with corporate website, interview scheduling and mail management, interview evaluation at different levels, Exit interview and management (on demand)
• Organogram Generation
At different levels such as company wise, location wise, designation wise, employee wise, vacancy wise at any level(on demand).
• Insurance Management
Insurance policy management, Insurance claims details, insurance nominee details, insurance premium details.
• Man Power Development Or Training
Training programs, Training Application and approval, Training evaluation, Training budget, Training Attendance, Training Expenses.(on demand)
• Performance Management
Performance parameters according to Designations, defining planning periods, defining KRA's employee wise, immediate senior wise, HOD wise and HR wise,Revisions of KRA's, Performance Review done at different levels, Performance Management linked with training and Pay Structure Revision.(on demand) Monthly Activities, Daily Activities(on demand), Monthly, quarterly, four monthly, half yearly and yearly performance defining and reviews can be done, KRA's can also be defined of more than 1 years.(on demand)
• Organisation Climate Survey
Basically a survey form done on various issues of organisation values, issues, cultures, quality of work, work environment, business goals, timings, various type of graphical reports can be generated, also various type of MIS reports (on demand)
• Employee Help Desk/Suggestions
Escalation matrix according to employee suggestions, various type of MIS reports.
• Telephone Directory
Telephone directory according to company, location, department, designation, employee, extention numbers of employees, Reception wise telephone information at the tips of finger.
• Mail integration
Mails for relevant business flows, intra and inter company mails, record track of all the mails(on demand)
• Message Centre
Message centre used within the company for company employees, messages can be sent to whole company, department,
• Document Management System
Single document repository for all the documents
• Current Events and Photographs
You can put all the current event and photographs on the main page (on demand)
• ESS
In Employee Self Service you can put all the services which the employee can make us of
• MSS
In managerial Self Service you can see the details from manager's perspective
• Opinion Polls and Management
You can generate different types of opinion polls(on demand)
• Well defined and Best Business Practices
20 years of HR experience and 12 years of IT experience
• Audit Trail Reports
Complete audit trail of each and every record (on demand)
• Powerful Third Party integration
We can integrate with SAP as well as all other different type of ERP applications (on demand)
• Data Transfer facility*
Data Migration, Data Cleansing facilities given free if whole HRMS is taken
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