Your most precious company asset is your people, more often than not they determine your company’s success and should always be your primary focus. Whilst companies rely on experts like Simpay to run payroll smoothly and pay employees on time when you take care of your employees and their wages, they will help you gain a competitive advantage and drive your business forward.
Managing Successful People
Business culture.
Today, business is a cutthroat and competitive environment, especially when it comes to talented people. The days of joining a business and staying for years are long gone, which creates a challenge for growing a company. You don’t want to put resources into training employees just for them to leave for another company or, worse, a rival.
A good company culture that puts its people first can help keep your staff loyal to your business and fend off any competitors poaching your talent.
Encourage innovation.
Encouraging a culture of innovation allows your employees to not only think differently but also gives them a platform to be heard.
Creating an ‘ideas board,’ whether physical or digital is one approach to promote this. This will allow your team to develop and contribute while also ensuring an open work environment. It takes time to promote creativity, so prepare for incremental change if you want the culture to become permanent.
Reward and celebrate success.
Create an incentive program to encourage creativity and “going the extra mile” thinking.
This can encourage innovative thinking on a daily basis, and you’ll be able to steer these fresh ideas to the advantage of the company — it’s great to incentivize the areas you want to modify or enhance.
More freedom, more communication.
Growing your company will add additional systems, procedures, and rules that you need to follow might cause your team to lose sight of your company’s culture.
Maintaining a company’s culture as it grows is tough even under the best of circumstances, and there is no easy fix.
Creating a work environment where your employees feel comfortable to speak with their colleagues at all levels of management encourages innovative thinking, motivates younger members of the team, and keeps senior members informed about all areas of your business.
Be the culture that you wish to see.
As the business owner, accept personal responsibility for your company’s culture. Through your own actions make it clear how you want everyone to act and behave. Make yourself the ‘business culture mascot’ within your company.
Using incentives to achieve success.
When you run a business you may face a tricky dilemma: you are near enough to the daily operations to understand what needs to improve, yet are too busy to make the important adjustments.
One plan is to provide incentives to your employees, when they show initiative and correct or improve areas in the business which benefit performance, cut costs or boost your profits.
This does not always have to be cash, other options are giving public employee recognition, additional time off, and flexi-time.
Managing a winning business Payroll
The power of a reliable payroll system is sometimes unappreciated when giving credit to a business’s progress, yet it supports all that happens on a daily basis in your company.
It is much more than complicated tax laws and figures on spreadsheets
Happy employees make a healthy business. Paying your staff on time and accurately leads to happy employees and a happier business.
Payday must be on time, every time, and understanding the pitfalls is key to building a winning business.
Accuracy and compliance.
Every successful payroll meets two objectives: accuracy and compliance. The information must be correct in order for your people to be paid correctly, and tax obligations must be met as well.
Payroll accuracy is also a moral issue. Your team works tirelessly to ensure that your business runs and is successful. As your most valuable asset, it is important to reward them and show that they are a valuable part of the business; paying your workforce exactly what they are owed is critical to accomplishing this.
More so, getting this right will increase employee engagement and bring major business benefits, such as; increase profits and productivity, reduce staff turnover, and improve work satisfaction.
Keep up to date on legislative developments
Using the most up-to-date payroll software can take the guesswork out of payroll management and guarantee that your payday procedures run smoothly. Payroll software is always current to comply with the most recent laws and regulations.
The winning formula
Payroll management is easy with a trusted payroll software partner.
Payday is a big day for any business, you need to pay your employees accurately and on time, and growing legal requirements means small and medium-sized enterprises need a simple solution that they can rely on to ensure compliance.
Simpay assists businesses in triumphing against payday thanks to our incredible support team and market-leading payroll management tools.
We’d love to partner with you in running a successful payroll operation for your company, by providing you with the right tools, information, and support you need to help you keep scaling your business. All while making sure your people are happy in the process.
Contact us today at info@simpay.net or at 866-253-2227.
