Adapting to global changes that directly impact your business has become crucial, as they aren’t solely linked to the overall economy but also involve advancements in technology and shifts in people’s needs. This presents an opportunity to enhance your business, expand its reach, and boost profitability.
The adoption of hybrid work has become an inevitable aspect of our lives, leading to a significant shift of processes to online platforms. This includes tasks that previously required face-to-face interactions and paperwork, like accounting and payroll. Hence, businesses should design their core operations in a streamlined and user-friendly manner. This strategic approach is vital for driving business growth. But what other innovations could make your business thrive in this ever-changing landscape? Let’s take a look at what you can implement to take your business to another level.
Digitalise and automate core business operations
Many companies are currently shifting towards digitalisation in order to simplify and automate key processes within their organization. Since payroll, accounting, taxes and HR administration will always be inherent to businesses, their digitalisation can help set priorities and eliminate voluminous tasks from the daily agenda.
The automation of accounting processes facilitates the seamless management of documents and workflows, reducing paperwork and providing real-time insights into your company’s financial status. Moreover, it will enhance the productivity of your financial department by removing time- and resource-intensive tasks from daily work routines. Therefore, your accounting teams will be able to focus on higher-priority projects.
Automating payroll and HR administration will, on the other hand, keep your employees engaged and offer them increased autonomy. They will be able to independently handle various tasks such as accessing pay slips, communicating with payroll accountants, submitting data for annual tax clearances, requesting time off, managing business travel, or settling travel expenses. The benefits of automation are boundless, which is why you should move on with digitalising your business processes.
Minimise costs
It is no surprise that outsourcing your business operations is more cost-effective than managing everything in-house. As a strategic business approach, outsourcing not only lets you delegate specific tasks to external organizations, reducing the workload of the in-house team, but also allows your employees to allocate their capacity for more strategic matters. This leads to cost savings by utilizing their time more efficiently.
Although many companies can handle tasks internally, involving an external organization reduces the administrative burden, mitigates risks, and reduces expenses related to labour, technology, or licenses.
Prioritise employee well-being
The past years, when our physical and mental health had been challenged by unexpected global changes, have affected everyone. Difficulty to concentrate while getting used to working from home had an impact on our ability to perform work. Today, employers understand the importance of employee well-being, and its direct impact on the company’s performance.
Our long-term member Accace helps businesses measure company vitality and social environment thanks to an in-house developed tool, which provides a detailed analysis of what affects employee engagement, innovations, performance and sustainability. As a manager, you can find out your employees’ level of satisfaction at your company, as well as how they evaluate your leadership style. The results can later assist you with building a healthy company culture and employer branding strategy, which eventually increases the level of employee engagement and satisfaction.
Additionally, in today’s settings, finding the perfect talents for your company can be challenging due to shifts in the job market, with companies actively competing for specific skill sets. The best method to both attract and retain employees is by prioritising their well-being. This approach will also bring you numerous benefits, such as:
Manage employees more easily
Shifting to hybrid work model has unlocked a new challenge for companies – managing employees is nowhere near simple. This is where process automation proves to be beneficial as well.
Your business relies on your employees, and their engagement significantly impacts the company’s performance. Automating processes that directly involve employees empowers them to shape their own work environment rather than adapting to one someone else has created.
Simplify your employees’ work experiences with an efficient online time and attendance portal. This solution enables employees to independently manage their time and attendance through a user-friendly self-service interface. They can easily monitor worked hours, overtime, track taken and remaining vacation, request time off, sick leave, and promptly seek approval from their managers.
Upgrade your workplace
Effective employee management involves internal processes, but in the current landscape, it also extends to how comfortable your employees feel at the workplace. Fostering such an environment is not only about cultivating a positive company culture and a pleasant office atmosphere, but also about automating specific aspects, especially if your workspace is flexible or operates on a hybrid model. Our community member Accace has developed a simple solution that enables efficient management of shared desks and parking spaces. This reservation system lets employees to pre-book desks and parking spaces, reducing the administrative workload on your HR department by eliminating additional paperwork and communication. This approach will grant your teams the freedom and flexibility to handle these matters independently.
