As a business owner in Singapore, you may spend a significant amount of time each month on tasks like hiring, payroll, and employee performance tracking.
You’ll feel endlessly tired (we know we definitely are). Sick of doing the same paperwork over and over—writing down employee info, making schedules, and figuring out payroll. Each time, mistakes may sneak in, and it’s a headache.
Common HR & Payroll Problems in SMEs and F&B
There are some common challenges that small business owners face when faced with HR & payroll activities. Looking at companies that employ shift work staff, let’s break these challenges down.
Challenges faced in HR management
- Training Needs. Lots of job applicants lack skills, meaning HR has to spend time training them, but it’s hard to retain staff
- Trouble Hiring Employees. Sometimes it’s tough to hire because other businesses nearby offer better pay, so HR has to think of other ways to attract people.
- Daily time and attendance tracking. With staff distributed across locations, keeping track of when each staff arrives at work, takes their breaks and clocks out can become more challenging as the company grows.
- Administering staff benefits. Workers might miss out on benefits due to changing schedules, so HR needs to keep track to make sure everyone gets what they need.
- Keeping Staff Happy. It’s tricky for HR to keep employees positively engaged, especially when frontline staff have to deal with unhappy customers. Maintaining morale is hard.
Challenges faced in payroll activity
- Payroll calculation errors. When payroll is done by hand, mistakes can happen. Adding up hours and tracking leaves manually often leads to wrong totals.
- Compliance challenges. Staying compliant with regulations is tough. Laws change, and many find it hard to keep up. Making mistakes in compliance can lead to serious issues.
- Team coordination. Smooth payroll processing requires good teamwork between departments. Without it, the process becomes slow and confusing.
- Employee satisfaction. Even small errors in paychecks can upset employees and make them lose trust in the company.
- Data security. Each employee has unique information like account numbers, attendance, and deductions. It’s vital to keep this data secure for accurate payroll processing.
Juggling essential HR and payroll tasks alongside broader strategic planning can be challenging for F&B business owners, especially with multiple responsibilities demanding attention simultaneously. That’s where HRMS and payroll software can help!
In a nutshell, software that combines both HRMS and payroll can address the problems above and offer several benefits to SMEs in Singapore:
- Time and cost savings: By digitizing and automating tasks such as time attendance and payroll calculations, this frees up resources for other business needs.
- Accuracy and statutory compliance: By using precise, real-time data and staying updated with regulations, HRMS with native payroll features reduce errors and ensures adherence to payroll laws. This ensures there’s no revenue loss due to time theft or calculation errors while ensuring staff are paid fairly and in a compliant manner.
- Employee satisfaction: With timely and accurate calculations and payroll, employee contentment is enhanced
- Scalability: Adaptable to business growth, allowing seamless addition of employees without concerns about errors or compliance.
Reasons Why PayrollAny is the Right HR & Payroll System for Your SMEs in Singapore
It is worth individually evaluating the services PayrollAny offers to find the best deal for your needs. Hence, here are the specific reasons why you can consider PayrollAny as your go-to software for HR & payroll.
- Timesheet formulas that automatically calculate payroll
Consolidated timesheets from all your shift workers, feeding into powerful formulas that automatically churn out accurate payroll. No more errors, no more late nights.
- Close the loop from scheduling, to timesheets, to payroll and payslips
Say goodbye to silos and manual data pulling! PayrollAny is built directly on top of scheduling and timesheet systems. Effortlessly pull data from across your business, with shifts scheduled, timesheets tabulated and pay slips calculated in a seamless symphony.
- Simple user experience, only four steps to get your payslips.
You will no longer have problems converting timesheets into payslips because PayrollAny only requires four easy steps to convert timesheet calculations into payslip details. Check out the guide in this article.
- Flexibility in accounting for salary payment components.
Forget the nightmare of one-size-fits-all payroll. PayrollAny’s custom formula handles your unique pay structure with ease, be it overtime multipliers, attendance bonuses, meal allowances, or other special pay items.
- Instant multi-entity payroll with bank file exports
Run instant payroll across all your entities simultaneously. One click is all it takes to handle paydays for everyone from HQ to your all branches. Export bank files to complete payment runs with your corporate bank accounts.
- Support for compliance, tax and fund accounting
PayrollAny has automated calculation features for various payroll deductions based on Singapore government laws. Currently, PayrollAny can accurately calculate CPF, SDL and SHG for each employee for each company payroll cycle.
- Full support from customer service team
Did we mention that PayrollAny is a Singapore-based payroll system? Being a local product, PayrollAny understands the payroll challenges, from behavioral to technical issues, that Singaporean companies face. And our customer service team can more quickly understand the source of the problems encountered to be resolved immediately so as not to affect your business operations.
Check this page to learn more about PayrollAny
To Come To The Point
Now that you have read all those reasons, it is time to look for alignment of needs with PayrollAny services to get effective software and HR for small businesses in Singapore. You don’t have to tackle finding the best HR and payroll systems in Singapore on your own. It’s easy and stress-free with some assistance from us. Schedule a demo with us and we’ll help you find a solution that best fit your specific needs.
