How HR Tech space is evolving rapidly and building a payroll hyperloop model
HR Tech has come a long way and is always on the lookout for technological advancements that help reduce manual interventions and data duplication, increasing efficiency and accuracy. To speak specifically about payroll as an industry, the use of technology has truly revolutionized the payroll function, which was previously viewed as a transactional and repetitive process. While cloud-based technology has already taken over and provided easy access, advancements such as AI, machine learning, and robotics are paving the way for next-generation payroll technology and fundamentally changing how the payroll industry operates.
With the extensive use of technology that is unifying and simplifying the complexities involved in managing global payroll operations, Neeyamo’s Global Payroll ‘hyperloop’ is making ‘payroll on-a-click-of-a-button’ a reality. Neeyamo’s in-house payroll technology is designed in a way that it is not only automating the global payroll process but is also eliminating inefficiencies throughout the value chain. The global payroll system, along with the allied payroll system, is the sole reason why Neeyamo is able to provide global payroll services in over 150 countries. – Rangarajan Seshadri, CEO, Neeyamo
“Since 2020,owing to the pandemic, the world has seen a major transition in work culture, employee and employer mindsets and reliance on technology. It has given rise to newer and unprecedented challenges as we have been dealing with situations with no prior context and solutions in history. The People function itself has evolved and adapted to come much more closer to business and is now also an independent decision maker towards the strategy and direction of a company. Companies and employees have had to re-invent their work culture in various ways. Finding the right harmony in terms of Culture and skill sets is evolving as we continue to adapt to the new normal. Acknowledging and addressing digital burnout, dealing with distributed teams, scaling and codifying Culture, People intelligence (data and sentiment) based decision making, effective and efficient communication mechanisms, new engagement methods and all round well-being are on top of our priority list as a People team. There is a balance that needs to be struck in the Hybrid model of working in an in-office plus remote way. The InMobi Group has gained a greater understanding of the synergy of online and offline practices to strike a good balance for Hybrid work, and the importance of effective communication, as well as safety in the workplace. We firmly believe that understanding self and others, and thereby having meaningful communication and collaboration are extremely important for facilitating smooth, Hybrid work.
The pandemic has also brought to light the importance of overall well-being, especially mental and emotional, in addition to physical well-being. As an example, cognizant of the new models of working and the exhaustion due to that, we have introduced additional days of well-being leaves which the employees can avail at any time during the year. These can be used as a pit-stop, for rejuvenation, self-care and/or recouping days. In addition, we have ‘No-Meeting Fridays’, yoga and exercise sessions, and individual therapy sessions for employees to help address and find probable solutions to their challenges that may need deeper intervention.
In the times of the Great Resignation and the shift in power to the employee, the People function does need to look deeper into how to address this. One of our values is enjoying freedom with responsibility and another one is taking ownership and being proud. These are the ones that are at the root of employees being able to operate with a level of control over their energy, time, and future. With this freedom, all our employees are empowered to dictate outcomes that drive the organisation in a certain way. With this control, they give their best. Combine that with non-linear growth and aspirations and also recognition of their efforts. All of this will drive employees to give their best. This is the reason why the resignation trends are not concerning for us. The post-pandemic world has brought this shift of power and control to the employees, to the forefront. At the InMobi Group, our endeavors toward building and sustaining this Culture have been in existence for a while. Our Leaders are made and selected keeping in mind that they naturally understand the importance of this situation and use the opportunity given to them as leaders, to ensure that they embrace this philosophy. Employees see the efforts and conversations as meaningful and two-way and therefore they get deeply embedded. This is what leaders need to enable in a very honest way. Providing flexibility, building trust, exploring multiple opportunities of growth, aligning on the north, actively listening, giving control to employees, and overall building a strong and healthy Culture is what leaders need to focus on. – Sahil Mathur, CHRO InMobi Group