Amid a climate of increasing economic pressure companies have had to become more pragmatic in their approach to the management of year-end bonuses. HR specialists say that more awareness of the variables involved in this process would clear up much of the general misperception that exists.
Media reports about the issuing of bonuses to executives of top corporations, even within those businesses that have posted less than impressive results or are rumoured to be in financial difficulty, is an example of why this misunderstanding does exist.
Accsys, a national supplier of people management software and hardware solutions within the HR, payroll and time & attendance space and member of the BCX Group, has demonstrated its support of learner skills development and the benefits of exposure to entrepreneurship by hosting its annual Boys in Business Day.
Payroll administration is still considered one of the most important and strategic areas of business management today. In order to ensure full compliance with legislation and the highest level of accuracy, decision makers scout for the very best of the best in personnel – but increasing skills requirements and credible recruitment channels remain challenges claim HR experts.
In addition to compliance with legislation and the need for accuracy and consistency, payroll administrators have to pay particular attention to executive salary structures and the management thereof.