The document discusses the benefits of HR compliance and outsourcing HR functions such as payroll management, recruitment, and leave management. It notes that HR compliance is necessary in today's competitive legal environment. It also highlights that outsourcing HR functions can provide benefits like reduced costs, increased efficiency, and the ability to focus on core business activities. The document provides information on various HR compliance services and outsourced solutions offered by Spectra, including statutory compliances, recruitment processes, and automated leave management.
Global Compliance Across the ADP PortfolioADP, LLC
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Business Process Outsourcing is becoming the latest trend in recent years. Know about the factors driving the need for outsourcing business solutions and common traps of outsourcing. Also know what to outsource or what type of business solutions are suitable for you to improve the overall productivity of your business process.
Complying with government regulations is a tough job, even for large organizations with the best resources. For midsized businesses with limited resources, facing compliance fueled by increasing layers of regulatory complexity can have a direct impact on profitability.
Thomson Reuters Legal Department In-Source & Efficiency ReportPaul Authachinda
These trends illustrate that departments have
several levers to pull to achieve efficiency
and will continue to redefine the ways legal
work is addressed by internal resources within
the legal department and with outside counsel
for the time to come.
Have you reached that threshold in small business ownership where you’re able to acknowledge that you’re not a superhero? That’s practically what you’d have to be to successfully grow your business and perfectly manage the day-to-day administrative duties at the same time. If you’re like other smart business owners, you’ve embraced your mere mortal status and elected to outsource human resources and the tedious tasks associated with it to a Professional Employer Organization (PEO).
Global Compliance Across the ADP PortfolioADP, LLC
To be able to provide compliant HCM services and solutions to our clients, ADP must have an effective compliance program built on sound foundations and standards. The quality of our internal compliance controls directly affects the value of the services we deliver for our clients, as well as the engagement of our own associates. Read on to learn more about how we manage compliance across the HCM products, services and solutions we deliver to our multinational clients.
A Guide to Business Process Outsourcing - CogneesolCogneesol
Business Process Outsourcing is becoming the latest trend in recent years. Know about the factors driving the need for outsourcing business solutions and common traps of outsourcing. Also know what to outsource or what type of business solutions are suitable for you to improve the overall productivity of your business process.
Complying with government regulations is a tough job, even for large organizations with the best resources. For midsized businesses with limited resources, facing compliance fueled by increasing layers of regulatory complexity can have a direct impact on profitability.
Thomson Reuters Legal Department In-Source & Efficiency ReportPaul Authachinda
These trends illustrate that departments have
several levers to pull to achieve efficiency
and will continue to redefine the ways legal
work is addressed by internal resources within
the legal department and with outside counsel
for the time to come.
Have you reached that threshold in small business ownership where you’re able to acknowledge that you’re not a superhero? That’s practically what you’d have to be to successfully grow your business and perfectly manage the day-to-day administrative duties at the same time. If you’re like other smart business owners, you’ve embraced your mere mortal status and elected to outsource human resources and the tedious tasks associated with it to a Professional Employer Organization (PEO).
The 2014/2015 Contingent Workforce Trends ReportDeanna Gillen
A survey of over 310 procurement professionals indicated that procurement functions are not adequately staffed to successfully execute their transformation goals and do not operate on a strategic level within their respective organizations. The report details the journey from tactical to strategic in procurement and the consequences for all those who are unable to deliver on their transformation goals.
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If you are an independent contractor working within the shared economy who wants to know more about tax benefits (specifically how to smartly write off business expenses) -- or if you are a founder who wants to know more about employees vs independent contractors this presentation is for you!
Dynamic Digital Assignments was a workshop recently given for TESL Toronto's T4T Conference on January 31, 2015.
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The 2014/2015 Contingent Workforce Trends ReportDeanna Gillen
A survey of over 310 procurement professionals indicated that procurement functions are not adequately staffed to successfully execute their transformation goals and do not operate on a strategic level within their respective organizations. The report details the journey from tactical to strategic in procurement and the consequences for all those who are unable to deliver on their transformation goals.
Contingent Workforce Management Benchmark ReportCXC Global A/NZ
The Contingent Workforce Management Benchmark Report was originally presented by Jenni Nelson, Principal Consultant at HCMS for the ATC's Flexible Workforce Conference in Sydney, Australia.
The Pitfalls of Linking Pay With Performance and How To Overcome ThemCBIZ, Inc.
Linking pay with performance can be beneficial for your company, but it could also have dire implications if done improperly. Read on as Ed Rataj explains what could go wrong, and how to overcome the pitfalls of linking pay with performance.
If you are an independent contractor working within the shared economy who wants to know more about tax benefits (specifically how to smartly write off business expenses) -- or if you are a founder who wants to know more about employees vs independent contractors this presentation is for you!
Dynamic Digital Assignments was a workshop recently given for TESL Toronto's T4T Conference on January 31, 2015.
The goal was to offer advice on how to implement the use digital projects and assignments into an ESL lesson (and to use as many Star Wars references as possible).
Analyses and monitoring of 132 k v grid using etap softwareArslan Sajjad
This research paper has been written by Rana A. Jabbar Khan, Muhammad Junaid and Muhammad Mansoor Asgher who belong to Rachna College of Engineering and Technology, Gujranwala, Pakistan.
Navigating Payroll Statutory Compliance involves understanding and adhering to the legal requirements and regulations governing payroll processes within an organization. This includes ensuring accurate calculations of wages, deductions, and taxes, as well as compliance with laws related to minimum wage, overtime, and benefits. Navigating through these complexities requires thorough knowledge of local, state, and federal laws, as well as staying updated on changes in regulations. Effective navigation of payroll statutory compliance helps organizations avoid penalties, maintain legal compliance, and build trust with employees. It involves implementing strategies such as automation, regular audits, and partnering with expert service providers like Maatrom HR Solution to ensure seamless compliance and operational efficiency.
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Retained Search/Executive Search – Direct Hire/Full-time Placement
Contingency Search – Direct Hire/Full-time Placement
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Innovative Employee Solutions
9665 Granite Ridge Drive, #420
San Diego, CA 92123
(858) 715-5100
http://www.innovativeemployeesolutions.com/
Innovative Employee Solutions specializes in payrolling and outsourced HR administrative services as the employer of record for various industries including technology, engineering, medical, insurance, clerical, research companies and many more.
Discover the financial advantages of utilizing professional payroll management services for your business. Beyond simply issuing paychecks, proficient payroll management encompasses crucial functions that directly impact your company's financial well-being. By outsourcing payroll responsibilities to experienced experts, businesses can reduce overhead costs associated with maintaining an in-house payroll department while ensuring compliance with tax regulations and minimizing the risk of costly errors and penalties. Additionally, streamlined processes and advanced software solutions enhance accuracy and efficiency, saving time and reducing administrative burdens. Outsourcing payroll functions also provides valuable insights into cost-saving opportunities and financial optimization strategies, ultimately contributing to greater profitability and success.
Discover the advantages of payroll outsourcing services and know the top reasons why companies choose payroll outsourcing services. Read the full blog to learn more!
The outsourcing has now been substantiated as
an immeasurably valuable strategy today.
Companies avail benefits like cost savings and
operational excellence in their business activity. It
involves entrusting a certain fraction of jobs to a
specialized service provider. Later, outsourcing
builds up a corporate relationship between the
client and the service provider.
1. Strong HR programs and effective HR practices and policies can accelerate
company development, competitiveness, and profitability. HR compliance is
a necessity for any business in today's competitive and legal environment.
ItappearsthatHR manager’s concernsaboutHR compliancearenotunfounded.
Half or more of responding HR managers expect the compliance landscape to
become even more challenging over the next one to three years. Fewer than 10
percent of HR managers surveyed believe that the overall compliance burden will
decrease. Given their compliance concerns — both today and looking forward —
it’s not surprising that the vast majority of respondents seeks professional advice to
address compliance issue and would even consider outsourcing their HR function
entirely.
Benefits of HR Compliance
?Adhere to requirements of Legislation, Regulations, Standards, Regimes
and Guidelines affecting all sectors on an ever-increasing basis
?Can confidently tender for large scale contracts when they have correct HR
policies andproceduresinoperation
?Being risk savvy and not vulnerable to HR claims due to employees'
knowledge and implementationoftheirrights
?Can minimise legal claims in courts, tribunals, etc when correct policies,
proceduresandbestpracticesareinplace,andmonitored
?HR compliance=regulatorycomplianceandriskmanagement
Spectra provides a wide range of services such as
Registration, Maintenance of Statutory Records
and Consultation to many corporate clients. We
provide labor law consultation, end-to-end
services and logistics support to carry out and
implement Labor Law related work. We have a
team of highly competent professionals and
qualified associates having rich and varied
experienceinthesefields
HR Compliance
·
·
· The Minimum Wages Act, 1948
· The Contract Labor (Regulation and
Abolition) Act, 1970
· The Payment of Bonus Act, 1965
· The Maternity Benefits Act, 1961
· The Payment of Wages Act, 1936
· The Equal Remuneration Act, 1976
· The Profession Tax Act
· The Labor Welfare Act
· The Shop Act
· Trade Licences
The Employees Provident Fund Act, 1952·
The Employees State Insurance Act, 1948
OUTSOURCE SOLUTIONS PVT. LTD.
SPECTRA
The Advantages of Outsourcing HR Functions
Risk Management Cost Savings Efficiency Employee Development
e cover the following statutory
compliances under various laws:
W
2. Managing tax and statutory compliance in today's highly complex economic and
regulatory environment is not an effortless task. Accelerated globalization, new
developments in tax laws, changes in accounting standards and increased
demands from tax authorities for greater transparency are all augmenting the
burdenon taxandfinancedepartments.
Given these challenges it's not surprising that tax and finance departments often
spend a disproportionate amount of time on compliance activities, rather than
focusing on higher value activities such as strategic tax planning, risk
management and closer integration with the rest of the business. Spectra asserts
efficientandcosteffectiveways tomeetour clientcomplianceobligations.
We start by understanding your objectives, your systems, your culture and your
tax risks – because we believe it's the only way to evaluate the best approach to tax
complianceforyour business.
Working on site with you, we will support you in setting your compliance goals
and tax risk management strategy. We will always talk you through your tax
returns so that you can feel totally comfortable that any position taken is
consistentwithyour widertaxstrategyobjectives.
Enterprises should have compliance management processes in place to ensure
that various requirements are met and the impact of noncompliance is within a
tolerablerisklevel.Thecompliancemanagementprocess involvesthefollowing:
· Identification of requirements
· Interpretation of requirements and impact analysis
· Scope determination
· Data collection and identification of compliance issue(s)
· Risk analysis
· Implementation of appropriate action(s) for compliance issue(s)
· Reporting and monitoring
· Continuous improvement
Indirect Tax Compliance under
Service Tax, CST & VAT and Excise
Laws.
Indirect Tax Consultancy, Procedural
registration/approval from Govt.
Department.
Direct Tax Consultancy, registration
and assessments with Income tax
authorities, TDS administration and
other compliances.
Incorporation of companies and
setting up liaison offices of foreign
companies.
Secretarial Compliance and Statutory
Records Maintenance under
Companies Act
Company law consultancy including
liaison with ROC, CLB and Central
Govt.
Compliance
Management
Outsourcing Compliance Management
Spectra provides you with one shop solutions to
manage compliance and run uninterrupted
hassle free operations by management under :-
?Indirect Tax (VAT, Central Excise &
Service Tax)
?Direct Tax Laws
?Corporate Laws
?FEMA etc.
OUTSOURCE SOLUTIONS PVT. LTD.
SPECTRA
3. Staffing & Recruitment
The war for talent has become the war for skills. Many companies are struggling
to find and retain good, skilled workers, while having little or no recruiting
resourcesasaresultofcutbacksinstaffandhumanresources.
We have a specialized team of expert professionals who develop a
comprehensive understanding of the client's business needs to deliver
unparalleledqualityresourcesandservices.
Recruitment Process Outsourcing (RPO) solution can help balance and
re-align human resources staff, by strategically outsourcing one or more
partsoftherecruitingprocess.
· Sourcing – From managing internet/website resume intake and career
portal management to traditional sourcing methods and networking, we
canensureaqualityslateofcandidatesforallofyour openpositions.
· Recruiting – Screening, assessments and testing to assure proper fit,
along with comprehensive interviewing techniques results in highly
qualified candidates. A professional approach and thorough
communication improves employment branding and future employee
satisfaction.
· Hiring – Management of the final screening and interviewing process,
pre-hire assessments and offer coordination to assure a smooth,
compliantandhigh-touchhiringprocess.
· On-Boarding – From paperwork management and required pre-hire if
and equipment logistics, we can ensure employees have a positive,
consistent experience as they start to work for your organization. Clear
communication and efficient processes result in immediately
productive,engagedemployees.
RPO solution can have several key benefits,
including:
· Scalable and Responsive Recruiting
Engine
· Decreased Burden on HR Staff
· Improved Candidate Quality
· Improved Employment Brand and
Retention
· Satisfied Hiring Managers
· Better Change Management at All
Levels
· Reduced Cycle Time and Hiring Costs
· Scalable Hiring Costs – From Fixed to
Variable
· Improved Compliance, Tracking and
Reporting
Our solutions are tailored for each client using
our focused expertise in a variety of industry
segments:
?Automotive
?Information Technology
?Manufacturing & Energy
?Drugs & Pharmaceuticals
?Healthcare & Lifesciences
?Telecom
?Electrical & Electronics
?Engineering
?Textiles, Paper & Leather
lient service is not a department, it
is our job!
C
OUTSOURCE SOLUTIONS PVT. LTD.
SPECTRA
4. Manpower Recruitment / Direct / Head Hunt Services:
Conducting preliminary interviews
Short listing the candidates as per client requirements
Making arrangements for face-to-face meeting with the clients
Helping them assess and evaluate the right candidates for the job
Manpower Outsourcing / Contractual Manpower Services:
Spectra provides experienced and qualified professionals specifically in Accounting and Finance domain for
temporary/shorttermdurationbasedon theclientrequirementsandfurtheraddingvaluetotheorganization
?No permanent liability of resource cost
?No statutory obligations such as PF, ESI P TAX, Bonus, Maternity benefits etc.
?Save time spent on internal recruitment and the replacement cost
?Availability of qualified professionals on short notice
Resume
Screening
Primary
HR
Interview
Technical
Interview
Final
HR
Interview
Offer /
Appointment
Rejected List,
Thank you email
APPLICATIONS
Hold List
(If Position Unavailable)
1 2 3 4 5
Staffing & Recruitment OUTSOURCE SOLUTIONS PVT. LTD.
SPECTRA
5. Payroll Management
When a small business entrepreneur begins to wear too many hats at the same time,
it'stimetoconsidertheadvantagesofusing payrolloutsourcingcompanies.
Payroll processing is one of the most important challenges for any organization,
and one that no business owner can afford to go wrong on. Payroll outsourcing
confersnumerousadvantagestoanorganization.
CostSavingsAdvantages
When you outsource payroll services, you get to reap many cost saving benefits.
These cost savings come from having less investment in human capital and
business payroll software and computer/printer, and reduction in IT costs. Your
timeisvaluable.Don't wasteitinareaswhereanexpertcanbehired.
Less Capital Investment
Payroll services outsourcing usually costs less as compared to managing it
internally.
Easeand Flexibility
When you have a rapidly growing business, outsourcing payroll aids and
eliminates losses. Outsourcing payroll services will provide you the ease and
flexibility of operation and concentrating on your core business instead of having
toworry aboutyoursmallbusiness payrollservices.
The Payroll Process
he brief scope of activities involves initial
setup of the master details of all employees
Tand the configuration of the
company reimbursement policies and
documentation of the same for
referenceandfutureupdates.
The monthly activities would involve
coordinating with the client time office
department for attendance registers and
update of the same into our system for
generation of various reports including
Payslip, salary sheets, deductions
statements IncomeTax&Professional
Taxetc.
Other deductions statements and reports
like projection sheet for employees,
quarterly/half yearly reports to be
printed.
Annual Reports like Income tax
statements to be printed and submitted to
theclient.
Ability to Track Cost
If you have been outsourcing payroll services, you
already know precisely how much payroll
processing costs you. This ability to track your
costsallowsyoutomanageyour business better.
?Salary Structuring & Suggestions
?Salary Processing, Tax Calculations & Tax
Advice
?Bank Upload through transit Account
?Monthly/Quarterly/Annual Statutory
Compliance
?Customize reporting as per requirements
?Query Solving and Centralized Help Desk for
Employees
Outsourcing Benefits
Professional
Risk
management Cost
Reduction
EfficencyCare
Business
OUTSOURCE SOLUTIONS PVT. LTD.
SPECTRA
6. E-Leave Management
E-Leave Management
eave has a significant financial impact on a company's bottom line. Research has shown that employers spend an
averageof14.6%ofpayrollonLeave-relatedbenefits.Butstillleavemanagementis atimeconsuming,tediousprocess.
In every organization, leave is administered by the Human Resource Department to ensure that the leave programs are
efficientlymanagedandaccuratelytracked.LeaveManagementprocess includes:
· Definingtheleavetypes
· Assigning entitlements
· Calculatingcarryoverleaves
· Employeesapplyingforleaves
· Managersapprovingorrejectingtheleaverequests
· Importingtheleavedataintoforpayrollforcalculationsandotherentitlements
L
FeaturesofE-Leave
· EasyAdministration
· Mini-HR Management Module (Capture Employee's Personal and
BasicEmploymentInformation)
· Email notifications. Every action (create, update, approval and
rejection of leaves) is communicated through email. This is the
whole point of carrying out e-leave's mission to save the trees,
savetheearth.
· Customizableleavetype/entitlement
· Customizableleaveapprover
· Customizablecalendarofholidays
1
2
3
4
5
6
Approved leave
automatically integrates
into ePayroll
Managers have an audit
trial of leave applied &
employees and managers
can project future leave
balances Managers can view leave
balance prior to approving
leave
Ensures that leave
applications will be
dealt with in a timely
manner. even when
you are out of the
office
Eliminates paper
farms. fixing and lost
forms
Leave
pectra Leave Management methodology primarily focuses
on defining the approvals hierarchy to save time and
Sreduce paper work by online approvals thus allowing the
employees to know the status of their leaves and approvals at any
given point in time. We automate HR Leave process by
configuring the HR policy in system to ensure that all the leaves
applied/approved/ rejected are accurately recorded and properly
accountedfor.
OUTSOURCE SOLUTIONS PVT. LTD.
SPECTRA
7. More time for your Core Business
By outsourcing your Accounting needs you'll be able to focus more of your efforts on your core business. We want to
help you build your business, rather than spending your time building an accounting department.
Cost savings
There are significant cost savings in outsourcing your bookkeeping and payroll needs. You won't be paying for benefits
such as sick and vacation time, as well as health insurance and retirement. Most clients save 30-60% over their present
costs. Our mission is to minimize your accounting costs while maximizing your bottom line results.
Access to accounting experts
You're an expert at running your business; we are experts at accounting and bookkeeping. We have proven experience
establishing and maintaining the accounting function for small and medium sized business.
Timely and accurate reports
Without accurate accounting records, it can be difficult to make business decisions with any degree of confidence. We
take pride in delivering the information you need in a timely manner, allowing you to make informed decisions based on
accurate information and expert analysis.
Satisfaction Guaranteed
We help you succeed by providing expert, timely and dependable accounting services and financial insight. Outsourcing
your accounting needs to our firm allows you to achieve cost savings through reduced your need for internal
bookkeeping staff, helps you to make informed business decisions and gives you time to focus on your core business
Benefits of Accounting outsourcing
Accounting
Outsourcing OUTSOURCE SOLUTIONS PVT. LTD.
SPECTRA
8. Accounting Outsourcing
Outsourcing your non-core business functions to third party experts
can be an effective strategy to preserve limited capital and scarce
management time. Factors driving the decision to outsource
include:
Reducing overhead and personnel costs
Controlling capital expenditures
Engaging experts with specialized skills
pectra has a strong team of
accounting professionals with core
Scompetencies in setting up of
centralized accounting processes & its
management thereof. We develop tailor
made accounting processes, systems and
controls based on the Client requirements.
Our business exists to create a satisfied
customer.
?Setting up of Accounting
SystemandManagement.
?Bills payable, processing &
disbursement.
?R e i m b u r s e m e n t s E x p e n s e ,
processingdisbursement..
?A R R e c o n c i l i a t i o n a n d
CollectionfromClients.
Accounting
Outsourcing OUTSOURCE SOLUTIONS PVT. LTD.
SPECTRA