As an HR manager in Nigeria, one of your most important tasks is ensuring that your employees receive their paychecks on time and accurately. You don’t want to incur the disdain & distrust of your employees. However, as much as efficiency is expected of you as an HR manager, payroll processing in Nigeria can be a very daunting task; owing to the country’s working environment, and can even be more overwhelming if you’re dealing with a large number of employees.
According to Professor Olukunle Iyanda – President and Chairman of Council, Nigerian Institute of Management (Chartered), “human resource management is the most daunting of all management’s responsibilities.”
Rightly so, because you have countless lives strapped to yours, knowing full well that the slightest mistake on your path may lead to your organization’s reputational loss, while ultimately destabilizing your workflow.
That’s just a huge part of the few negatives though, nothing to scare you. With the right tools and processes, you can streamline your payroll processing and make it efficient, accurate, and even enjoyable (well, maybe not enjoyable, but at least less stressful).
To further simplify your fears, this article will outline 7 pertinent human resource tips to enhance and boost your productivity.
7 HR Guide To Efficient Payroll Processing In Nigeria
Guide 1: Organization
Organizing yourself is the first step to effective payroll processing. This requires making sure you have all the significant information about your employees, such as their personal info, employment agreements, and tax information.
Additionally, be sure that you comprehend all of the payroll procedures that apply to your organization, including the pay schedules, overtime regulations, and benefit deductions.
Guide 2: Choose The Appropriate Payroll Software in Nigeria
Investing in a reliable payroll software will save a tonne of time and hassle. There are is myriad of Payroll Software in Nigeria, ranging from straightforward and inexpensive selections to more durable and expensive ones. The secret is to select a software that is both cost- and need-effective for your business. Earnipay’s payroll solution is the best option that ticks these boxes.
With Earnipay, you can automate procedures like tax computations, deductions, and payroll reporting. By doing so, you will cut down on the possibility of errors and expedite manual calculations.
Guide 3: Automate Your Operations
When it comes to efficient payroll processing, automation should be your go-to. Search & implement diverse ways to automate as many tasks as you can, including payroll reporting, benefit deductions, and tax calculations. This will save you a lot of time and lower the possibility of errors to the nearest minimum.
Automated tax filing is one capability that not all payroll software in Nigeria offer. However, Earnipay offers this and more to HR Managers and Businesses.
Guide 4: Always Stay Abreast Of Tax Laws
This cannot be overemphasized. It’s critical to keep up with the most recent rules because tax laws & regulations are continuously changing. By doing this, you’ll outrightly cancel out expensive errors and make sure that your payroll processing is in tandem with the law. Many payroll software in Nigeria offer tax compliance features that can help you stay on top of the latest regulations.
Guide 5: Inspect and validate
Verify all the information before submitting your paycheck in its entirety. Double-check to make sure that all deductions and benefits are applied appropriately and that all computations are accurate.
Guide 6: Pay Your Workers Promptly
Paying your employees promptly is the last stage of effective payroll processing. Ensure that your payment schedule is consistent and that members of your staff know the due dates for their paychecks. Don’t ever take this with levity hands.
Paying your workers on time should be non-negotiable, as it’s crucial for their financial well-being and fosters loyalty and trust among your employees.
Before your team starts to grow, payroll processing may seem to be the simplest office task. However, when you have a sizable workforce, handling payroll procedures tends to become challenging.
Delays, mistakes, and inaccuracies could result from this, which would be detrimental to your business’s reputation and growth. To steer clear of these unwanted extras, utilize earnipay.com for your payroll processes and financing.