Setting up payroll: How to get it right first time
Setting up payroll in any company, particularly if you run a small business, is an important task to get right. Read this for tips on how to set up payroll.
Part of effective leadership is planning for the time you won’t be in charge. Having a business succession planning process in place ensures that your junior star employees are ready to take charge when current leaders leave or retire. By fostering professional growth by providing training and development opportunities to cultivate leaders, you are ensuring the continued growth and development of your company for the next generation.
Implementing effective leadership development relies on accurate data. You need to know which employees are exceeding expectations, help them set goals to enhance their leadership skills and track their progress, and of course forecast future company growth. With our state-of-the-art cloud-based HR software, you can make all this a reality.
A potential future leader is often mistakenly identified as someone who has risen through the ranks quickly or someone who is consistently a high performer. While these are important factors, it is more important a talent and succession planning process identifies the employees who have the ability to drive not only themselves, but the whole team to perform better.
Our HR software can then be used to take the guesswork out of your succession strategy. It provides a single source of reliable information, so you can instantly assess potential leaders based on their past performance and progress. After you’ve identified employees with leadership potential, it is important to inform them of this and start actively developing the necessary skills in them. With our HR software, you can assist employees to set leadership development goals based on actionable insights and then monitor, measure, and record their growth. These detailed records are instantly downloadable as reports or dashboards to ensure everyone is always on the same page.
We’ve specifically designed all Sage products to support your company’s future growth. After all, you need to be able to see the whole picture to safeguard your company’s continued success. Our software allows you to combine data about employees’ achievements with other business information, so you can make informed decisions and streamline your succession planning process.
Regular appraisals help you to identify and develop tomorrow’s business leaders. Studies have proven annual appraisals to be ineffective at promoting leadership development. Instead, employees achieve greater results when provided with early and frequent feedback. Developing strong communication between employees and managers allows you to effectively groom future leaders.
Natural leaders tend to have a restless energy they’re keen to put to good use, even if it’s outside of their role. Appraisals provide insight into who is taking on additional responsibility and going above and beyond. With frequent reviews and effective performance management, you’ll always know who your high achievers are. This allows you to develop them into effective business leaders.
Setting up payroll in any company, particularly if you run a small business, is an important task to get right. Read this for tips on how to set up payroll.
Find out about Tax-Free Childcare and how it differs from its predecessor, the Childcare Voucher scheme, and discover what it means for your payroll.
Understanding holiday entitlement is as important as co-ordinating your staff's work schedules. Read this for tips on holiday pay and managing processes.
Payroll year end is approaching but there’s no need to panic. If you’ve not put plans in place for it, there’s still time to get your payroll team ready.