Payroll is the ultimate relationship an employee shares with a company. It is an essential agreement between the individual and the organization he works for. A skilled employee values the contribution he gives to the company and expects precise remuneration in return.  An employee is eager to receive the paycheck at the end of the month. It is the product of the hard work they have put into finishing tasks assigned to them. The paycheck issued by the company allows an employee to survive financially in the world. A survey by Intuit suggests that a quarter of employees have experienced erroneous payrolls. Around 49% of employees look for another job after two late paychecks.  So, how does payroll affect employee satisfaction? The following points can illustrate that.

Payroll Errors

The payroll processing team may use manual techniques for calculations. Errors can occur while deducting taxes and exact leaves along with adding overtime and employee benefits. An inaccurate or late payroll frustrates the employee and they begin to question the administrative caliber of the company. A situation should never arise where the employee doubts the intentions of the employer. An erroneous payroll creates distrust and may even lead to the employee's resignation. 

Non-compliance with laws 

Many times, the employer is not aware of compliance-related payments. The employer needs to pay gratuities and provident funds to retiring people. If they fail to do so, the retiree can sue the company. The company can lose valuable employees if this case gets repeated.  Sometimes, industries fail to meet the labor standards of an unfamiliar region and have to pay hefty penalties. A bad reputation for the company is formed which leads to resignations. Even employing fresh candidates becomes quite difficult. According to Glassdoor, the cost of hiring a new employee to fill the vacant position is around $4000. 

Lack of Transparency

Imagine an employee who wants to know the particulars of their payroll and has doubts about the salary received. They will have to approach the accounting staff and request a thorough discussion of the deductions. The accounting person will explain to them the number of unpaid absences, taxes, insurance, etc. The overworked HR person may get irritated during such incidents. Such confrontations waste time and demotivate the employee to work for the company. The employee looks for a job that allows them to grow productively and produce better outputs. This is a tedious and time-consuming affair that can be avoided using automation.

How does an outsourced payroll service increase employee engagement?

After delegating responsibility to a team of experts, the company can be assured of the accuracy and punctuality in their payroll processing. The payroll service acquaints itself with the local laws and adheres to their compliance. Taxes are updated regularly and the company does not need to bother itself with the latest modifications.  The employee has access to a self-service portal where they can personally assess the numerical values in the payroll from the number of leaves, overtime, current tax variations, etc. They can easily apply for leave encashment through the portals. They can log in through these portals anywhere without having to personally consult someone. An error-free payroll with an automated attendance and leave management system enriches the employee experience. In this way, employees recognize that their employers have a disciplined approach towards their well-being and provide them with the best-in-class tools to clear their suspicions. 

Why Paysquare?

Paysquare's team of experts enhances your payroll processing by giving error-free results. We consider that employees' welfare equates to the company's welfare. An uncomplicated portal allows employees to form a mature relationship with the employer and we help in achieving it. We aim to ease employee life and satisfy their anticipations. 

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CA. Vipul Gandhi

Associate Director

Khandhar Mehta & Shah - Chartered Accountants

‘Paysquare’ a perfect match for us as a consultant to deliver the best to our client. It extends User friendly portal for Employees and seamless processing of Payroll including statutory compliance on time! We

Parameshwer Matla

Human Resources

Columbus India

‘Paysquare’ a perfect match for us as a consultant to deliver the best to our client. It extends User friendly portal for Employees and seamless processing of Payroll including statutory compliance on The most valuable service that we get from you is "peace of mind." I know that once I submit our payroll information, everything will happen on time, payroll, pay slips, statutory reports, full and final settlement, returns and I know that we are and will be always in compliance with statutory laws regarding payroll.

Ramakrishna Dabbara

Sr. Manager – Finance

Sumtotal Systems

We would like to take this opportunity to thank you for your continual support till date! Your support especially during this pandemic has been awesome! Be it the TAT (turnaround time) you people are processing our requests, being accommodative in accepting the II, III payroll revisions, working late/ weekends, delivering the reports in time and minimal to zero errors are some of the examples of your commitment towards work & deliverables.

Abhijeet Shete

SENIOR MANAGER- HUMAN RESOURCE

Altra Industrial Motion India

We would like to take this opportunity to thank you for your continual support till date! Your support especially during this pandemic has been awesome! Be it the TAT (turnaround time) you people are processing our requests, being accommodative in accepting the II, III payroll revisions, working late/ weekends, delivering the reports in time and minimal to zero errors are some of the examples of your commitment towards work & deliverables.

Sukesh Baban Dhage

Manager Accounts

Hi Tech BioSciences India Private Limited

On behalf of Hitech Bio Sciences India Pvt. Ltd., Hi Tech Bio Laboratories, Hi Tech Analytical Works & Hi Tech Biosynth Pvt. Ltd., we appreciate your dedication to provide Payroll services to our companies from the approximately last 4 years. We acknowledge the fact that due to COVID-19, situation has become really tough across the globe. We all are forced to stay at our homes and take extra care of ourselves along with family members. It is a privilege to acknowledge you and your consultancy’s efforts and recognize the valuable service that you have provided to us. 

It is always gratifying to work with such great people with extraordinary abilities to provide good and quality service. The kind of response from your side get is fabulous and most memorable with professional culture. Specifically we would like to mention that, your approach towards the client is fantastic, for e.g. response to email is very prompt, continuous touch with client, on time response to queries or questioners’, on time and accurate report sharing. Flexibility to client requirement, Client / customer centric approach etc. Timely payment of salary gives a lot of confidence to all employees and it is due to our partners like Paysquare that Hi tech has never defaulted on its commitment of timely payment of salaries.

Ratnakar Dhakad

Senior Operation Manager

Tecknack Technologies Private Limited

We are very impressed with Paysquare team due to their ability to process payroll very efficiently. We found the implementation team very knowledgeable, supportive and very systematic.

Paysquare is a very matured payroll processing solution and they have well paid down processes to manage first time as well as every month's processing.

Monica Shah

HR Business Partner India

Victaulic Piping Products India Private Limited

Honestly , It has been an amazing experience working with Payroll team as on date . Deepika and Uma has been a strong support to us. They have always been very helpful and co-operative. I congratulate them to run payroll with zero error every month. And I expect the same level of support in future. I am happy to be associated with Payroll team.

Seagate India

Manager

I have been a client of Paysquare for 7 years and their services are fantastic. Migration from the old consultant to Paysquare was seamless. Soon after the migration, Paysquare team was up the learning curve. They never missed the deadlines provided by us. The team is always reachable, and they keep us informed about changes in taxes or government policies which impact payroll. I have complete confidence and trust in their payroll solutions, and we will always recommend them. Any company looking to ease their payroll burden with friendly service and a flexible, secure system should partner with Paysquare.