Digitize your collective agreements and avoid errors in the payslip16/11/2016
Studies from market research companies show that up to 50% of the Danes have found errors in their payslips.
Could this also be the case in the UK?
A number of unions in Denmark have recently launched campaigns encouraging their members to check their payslips every time as the errors in most cases mean that the employee receives too little in either salary, supplements, holiday or pension.
In Mark Information, we recognize this problem:
"Agreements are becoming more and more complicated," says Torkel Olrik, CEO of Mark Information. "As companies need to be more flexible to meet customer demands, supplements and other complexities are introduced which make the agreements more difficult to manage."
This trend is the result of efforts to create an ever more flexible labour market.
Correct salaries on time
Many companies still handle their payroll administration manually – and often with few employees – which increases the risk of (human) errors. In addition, payroll calculations often depend on only one person and are therefore vulnerable in connection with holidays, leave and illness.
By digitizing the company's agreements you can reduce the number of errors and delays considerably since the entire basis of calculation is automated. Not only will this minimise the administrative time and costs, it even provides the possibility to transfer the tasks associated with the payroll processing to the system vendor in connection with holiday and other absences. Correct salaries on time will also help to increase trust between your company and employees. So much that the desire for digitizing time & attendance occasionally comes from the employees themselves.
Several of our customer projects have shown that the time spent on payroll handling can be reduced by up to 50%. This frees up time to support other processes that create business value, such as follow-up on absence due to illness. The investment is usually recouped within a year, so actually, there is every reason to automate the process.