The EmployWise™ Compensation and Benefits module enables you to generate accurate input data for your financial payroll software or third-party payroll processing vendor by collating data from the leave and attendance inputs, recruitment and separation processes.The EmployWise™ Compensation & Benefits module lets you define and maintain accurate employee benefit entitlements with workflows for online employee self service benefit and reimbursement claims like medical reimbursements, LTA claims, conveyance, and other benefits.
Employee compensation and benefits are a key HR responsibility and the number one contributor to employee engagement. While the actual payroll processing is often outsourced to a third party payroll processing vendor or processed by company finance using a payroll software, it is still HR’s responsibility to provide accurate and timely data before payroll can be processed. In addition employee benefits must be tracked, communicated and processed as and when employees make claims against their benefit entitlements. Generating payroll processing data is a painstaking exercise that must happen every month requiring several iterations and check to make sure no mistakes happen. While critical, this repetitive task is time-consuming and tedious.
Benefits to the Organization
Get at-a-glance reports and identify cost centers
Set policies easily and update them without hassle
Control manpower cost budget
Benefits to HR
Eliminate employee dissatisfaction on account of delayed payouts
Improve analytic s and take informed decisions
Enhance transparency
Free up the HR department from administrative work to have time for strategic HR development
Benefits to the Employees
Online claim submission and payment process without any need to chase claims
