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text 2019-12-04 21:17
Payroll Outsourcing Singapore

Due to increasing employment in Singapore, there are several employment acts that were introduced by the government to keep up with this boom and to protect workers from being violated in any way. As the Singapore employment act suggests that any company that fails to give their employees the precise salary within seven days after the end of the salary period will be penalized under the law. This has put extra pressure on companies to ensure that their employees are paid on time and without any error or mistake.

 
Most companies might believe that the payroll process is far easier to handle but only a few actually realize its complexity. The whole payroll process requires every little calculation. One mistake and you are back to where you started. The situation is far more complexed if you are still calculating it the traditional way. Running an in-house payroll process not only requires additional use of resources but also increases your operational cost and waste your employees working time. There is one way you can comply with the law while also save working time- that is through outsourcing. Outsourcing your payroll process will not only help you save time but also help you enjoy the benefits that come with making payment to your employees on time. Fortunately, there are many proven solutions and agencies in Singapore that are willing to cater to your payroll processing needs.
 
 
Payroll outsourcing is simply hiring a third-party company to oversee the administrative and compliance functions of paying your employees. It is important to know that payroll services do not offer an employment record or hiring of an employee. Similarly, other aspects of employment must be handled internally or by suitable agencies. The question of when to consider outsourcing your payroll depends on several factors. Both small and large-scale firms can immensely benefit from outsourcing their payroll processing.
 
 

Why outsource your payroll process?

Let’s just say payroll processing is far more complexed now then it was once before. Payroll no longer means paying your employees. It is a part of an administrative task and requires well-trained staff. Payroll processing can be costly and time-consuming when it comes to hiring well-trained staff and/ or concentrate your company’s resources on a task that can simply be outsourced. Outsourcing payroll processing will help your company use its resources efficiently elsewhere and reduce overall cost that was incurred otherwise.
 

Benefits of hiring a third-party payroll service in Singapore

 

As mentioned above, payroll processing is no easy task and is often far more complexed. Hiring a third-party payroll service in Singapore can be beneficial in more than just one way.
 

Use time for other core functions of a business

 

Payroll processing might not seem as important as marketing. It can be outsourced to save you some extra time that can be invested back into the business. How? Surprisingly, payroll can be time-consuming and result in less time for other core activities of a company. There is also a range of laws aimed at employees. Complying with them is a necessity now. Having your staff concentrate on minor details to comply with labor and employment laws in Singapore can be a tiring task. It would also mean that your staff will have to put in extra time and effort that could have been used on other necessary tasks. Hence, outsourcing payroll processing to a third party can help you and your staff concentrate on other core activities of a business.
 

Access to Technology

 

 

Investing in technology to bring a change every now and then can be expensive and costly. By outsourcing payroll processing you can now bring change only that you won’t be directly paying for it. The third-party will be responsible to keep up with the latest technology and hiring experts to operate it. Moreover, technology can be extremely useful especially when it comes to performing mundane tasks. Payroll processing can be boring. Outsourcing such tasks can be beneficial especially when it comes to motivating employees. It also means that you and your employees can have access to electronic as well as carbon-based hard copies of payslips whenever they want. Outsourcing payroll processing does not seem like a bad option now!
 
Click here: Payroll Outsourcing
 

Cut down on risks and costs

 

Having an outside party do your payroll can save on costs and minimize risks. In Singapore, most companies end up over-paying their employees by a margin of 4 percent. The reason is poor data keeping and inaccurate employee time records. By keeping timely and accurate records you can save a lot in terms of both the risk and cost. Companies that do in-house payrolls are most subjected to paying penalties due to errors and violations.
 

Access to a number of other services

 

Your in-house staff can only do so much. Outsourcing your payroll processing means you can have access to a number of diverse skills all under one roof. Apart from the usual bookkeeping and typical payroll processing, you get access to a number of value-adding services such as labor law compliance, accounting advanced payroll and other HR services. Moreover, these third-party organizations ensure that their records are in accordance with the industry-wide standard.
 
Most organizations would think it is smart not to outsource their payroll processing to third-parties because they are costly. Nonetheless, outsourcing can actually help you save on plenty of hidden costs.
 

Why Outsource payroll?

 

Singapore is now a hub for major industries and therefore, provides huge employment opportunities. It also means that industries are in severe competition with each other. They are striving every day toward achieving productivity and cost-efficiency. To focus more on other business functions or to simply increase efficiency, companies are willing to outsource their routine tasks. Payroll processing counts as one such task.
 
Why outsource payroll services in Singapore? Payroll service providers offer an attractive alternative to in-house payroll processing. A good payroll service company can provide simpler means of paying your employees, filing CPF and performing a bundle of other duties. They can help you in making fewer mistakes and errors while performing payroll and use technology for efficiency. This is one reason why organizations are becoming increasingly dependent on a payroll company to enhance their HR and payroll processes.
 
Being the owner of a small company means you are responsible for carrying out almost all of the functions of a business. Outsourcing a few tasks can prove to be beneficial especially as it will give you time to focus on performing other activities.
 
Source Url: https://hr-connectus.com/payroll-outsourcing-singapore/
 
Source: hr-connectus.com/payroll-outsourcing-singapore
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text 2019-12-04 21:15
Recruitment Services Singapore

If you are a job hunter then you might find recruitment agencies very useful. Instead of spending hours on the internet or going through the spam of job ads you can simply contact a recruitment agency that will find a suitable match for you. Employment agencies not only save time but the effort and are more result-driven. They make the whole process of getting a job easier. If you are not familiar with a recruitment service agency read the following section.

 
A recruitment agency is a firm hired by a company to help fill in a vacancy. Employers who want a more qualified or skilled candidate would preferably go for a recruitment agency over advertising the job itself. Going through a pool of resumes to fill in one vacancy can be a draining task. Shortlisting the candidates for interviews and scheduling those interviews is something most employers don’t find fun at all. That is where a recruitment agency comes into place. It provides services such as looking for candidates that are best suitable for a job opening and shortlisting them for an interview. They are also responsible for scheduling these interviews and providing other services.
 

How does a recruitment agency work?

Recruitment agencies act as an intermediary between a company and job seeker. An employer will give a list of vacancies to an employment agency. The employment agency will advertise this job opening on various job boards and their websites to attract a list of potential candidates and update their database with new talent. Once they have a flow of applicants, they will shortlist the ones for an interview with the employer. Recruiting the right candidate for a job opening can be a tiring task. A recruitment agency not only helps businesses save time but also money and effort. They will spend substantial time sifting through tons of resumes before they will find the right candidate for your company.
 
 

Services provided by a Recruitment agency Singapore

A good employment agency or an employment business (often referred to as recruitment agencies) can help businesses save on time and money significantly while also making sure that job seekers find their respective job as quickly as possible. However, a recruitment agency goes beyond the usual matchmaking. Many agencies focus on developing expertise in a specific area based on specific industries, sectors, geographical areas, and skills. This allows recruitment agencies to specialize and develop effective contacts within an industry. Both employers and job hunters can rely on the consultant they deal with to give them accurate information regarding salary package and using the right contacts in the sector. There are many benefits a recruitment agency can provide to its candidates; they can negotiate the salary package on your behalf and also save plenty of time and effort. Recruitment agencies have access to a selection of job vacancies apart from the ones they advertise. A candidate can find it useful to register for a recruitment agency and get access to these jobs and other additional benefits.

For Employers

One factor why most companies would use a recruitment agency is to save time and effort. A recruitment agency will make sure to shortlist candidates with the right skills and experience. They also have their own network which they have developed over several years that helps them connect to potential candidates. Employment agencies have developed relations with the candidates and will shortlist the ones that seem a good cultural fit for the organization.
 
When it comes to hiring candidates for permanent positions, recruitment agencies can be quite useful. They not only have access to a wider pool of potential candidates but will also ensure to shortlist the one with the right skills and experience. A recruitment agency will normally only charge a fee if the vacancy is filled; meaning it is a low-risk solution. Using an employment agency to fill temporary positions can be equally effective as they have a supply of experienced and referenced staff with the right skills. In conclusion, hiring a recruitment agency to find the best staff for your company seems like an appropriate choice especially if you are on a time constraint. Similarly, job seekers who would want to work in an environment tailored to their individual needs will find employment agencies helpful.

For Job Seekers

There are many jobs that are not advertised. Companies find it more appropriate to place these jobs directly with the recruitment agencies as they are trusted for their relevant experience in the field and their understanding of the employment market. These recruitment agencies have widespread experience and connections that enable them to select a candidate best suitable for a job opening. Recruitment agencies can be useful in editing resumes and preparing an application for an interview. An agency with good connections can provide effective insights regarding an interview. They can also help in finding out what went wrong in case an applicant was not selected.
It is therefore advised that job hunters make sure to highlight their skills once they have registered themselves in an employment agency. Some agencies specialize in temporary placements while others in permanent placements. Applicants should ensure which one to go for based on their personal preference and job requirement. Recruitment agencies do not charge job seekers a fee. So, if an agency is asking for a fee its best to get yourself registered to another agency.
There are many recruitment agencies in Singapore. Following are the most common names;
  • Talent
  • IRS recruitment
  • 3C Synergy (popular for jobs in construction, oil, and gas)
  • Aegis (jobs across industries)
  • American Association Career Resource Center (specializes in helping expats find jobs)
  • Career Hub Consultants (for jobs in Finance, tech, science, hospitality and other)
  • Spencer Stuart (jobs across industries)
The services that these recruitment agencies provide can defer greatly. Some may be industry specific while others are employee specific. Some of these agencies may provide training services too. The talent agency, for example, provides not only a list of potential candidates but assist in common HR functions such as labor laws. IRS recruitment specializes in temporary placements. If you are not looking for a permanent job, the IRS will be the right choice. Other more common services include
  • contract hire
  • workforce solutions
  • executive search (headhunt)
  • advertisement, design, and placement
  • shortlisting candidates and organizing an interview
  • assist in negotiations and advise unsuccessful applicants of the outcome
  • temporary staffing, labor laws, and other HR functions.

Are recruitment agencies for you?

Many companies might find it more useful to make a direct hire. One reason why this might be a reason is that they simply don’t trust recruitment agencies or get around the idea of a middle-man. Sometimes, an employee may find it more comfortable dealing with the employer directly. Establishing a relationship between an employer and an agency can be difficult especially if the staff turnover rate is high. Whether you would want to go for an employment agency or simply for direct hiring is a personal preference. Most companies would avoid using one if their previous experience was not good. When you would want to make an instant hire then using an employment agency makes sense. In other instances, maybe not so much. One obvious fact is that if employment agencies were not as useful, we wouldn’t have so many in Singapore.
 
Source Url: https://hr-connectus.com/recruitment-services-singapore/
 
Source: hr-connectus.com/recruitment-services-singapore
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review 2019-11-26 07:55
Get Benefits of Hiring Accountants for Small Business | RACMACS

Are you looking for a tax accountant in Hertfordshire for your business tax return needs? RACMACS is here to help you to implement strategies that deliver tax savings to your business. We offer a variety of tax services including VAT Computation and filling, Inheritance tax planning and Corporation Tax computation and filling.

 

Source: www.racmacs.com
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text 2019-11-26 07:47
File Your Tax Returns with Tax Accountant in Hertfordshire | RACMACS

Are you looking for a tax accountant in Hertfordshire for your business tax return needs? RACMACS is here to help you to implement strategies that deliver tax savings to your business. We offer a variety of tax services including VAT Computation and filling, Inheritance tax planning and Corporation Tax computation and filling.

 

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