We’re back with a major product update, one that’s going to raise the bar and sure to be loved by all. Over the recent past, we’ve been tirelessly working to bring you our best addition yet. Responding to customer feedback, I’m happy to announce the latest version 5.3.0 that will be automatically updated (IT Savings) for all our customers on 16 June, 2016.Here’s a quick summary on what you can look forward to:
For the employee
- Create, calculate and select IT declaration plans from a single place
- The software projects your potential savings, compared to your actual savings and encourages you to save more by editing your plan to the optimal condition
- Compare multiple plans (what-if analysis) and select the one that best suits you
- Once selected, you can declare it with just a click
- Available on the greytHR mobile app for added convenience
For the admin
- Automatically lock the IT declarations for the employees every month
- Review pending declarations in one screen and take appropriate action
- Attendance policy - create customized policies with varying rules that automatically come into force
- Late in/ Early out - define what counts as late/ early as well as a grace period. If the times are exceeded, you can configure the appropriate action and get notified for late in/ early out days
- Shortfall - ability to detect shortfalls in work hours for an employee and take action accordingly
- Attendance Scheme - assign particular schemes to defined groups of employees. Under a scheme, you have the ability to configure; Shift Rotation Policy, Weekend Policy, Actual Hour Computation and Attendance Policy
- Period Finalization - employee attendance can be finalized based on the deductions relevant to them
- Attendance Info - employee can view information from a color coded calendar related to deductions, warnings, regularization, rules and action
So how do you stand to benefit?
It’s a universal truth that everyone, irrespective of pay grade, wants to minimize their taxes. Unfortunately though, most people aren’t fully aware of the scope that’s available to them. Due to this, they end up paying a lot more than they need to, completely oblivious to the larger tax saving potential.
Not too long ago, the mere utterance of the word ‘taxes’ infamously brought a sense of dread to the hard-working employee. Partly due to the idea of giving away your money but also the thought of tediously calculating, declaring and everything in between.
Now, added to an already state-of-the-art software, is a feature that’s sure to bring a smile to every employee - IT Savings. This potent feature combines the accuracy of an IT calculator with the convenience of online declaration. It’s smart enough to take into account your actual salary and come up with optimum plans that would best suit you. You then have the option to do a comparative analysis of your shortlisted plans, tweak them and finally select the one that works best for you based on your potential vs. actual savings.
The cherry on top is that all this is available on the mobile app as well. The employee can access all his/ her tax data and declare it, anywhere and at anytime. To sum up, what we have is a software that doesn’t just do its job but encourages you to save as much money as you can in the easiest way possible.
Another hot topic that’s of equal importance to both the employee and the employer. Both sides keep a strict vigil to make sure that the count is perfect in order to avoid losing out monetarily.
“So how is this module different from the often-used swiping/ signing in?”, you might ask. Well, in a word, everything. The ability to define a set of rules that make up an attendance policy and have that policy enforced automatically, is something that will prove to be invaluable.
It starts with the bigger picture of a ‘scheme’. These schemes can be configured with a policy that contains a set of rules which you can choose to enforce. Various criteria can be set based on company policy and assigned to all or a select group of employees. This eradicates the manual effort of keeping tabs and calculating shortfalls for the entire company. In turn, the payroll that gets processed is highly accurate, taking into consideration potential LOP days and other such rules that might affect it.
For an employee, comes utmost clarity. Potential confusion regarding attendance (and payroll) has been eliminated with a comprehensive color-coded calendar view. This lets the employee view the entire month and get clarity on the applicable rule and resulting action for a particular day, if any.
For the admin, seamless definitions of the shift rotation policy can be created and implemented for selected or all the employees. This ensures a far smoother workflow and a ready-reckoner to check on the status.
One of the main concerns with many companies is the inability to track employee movements. It’s a mammoth task for the HR or the manager to personally keep tabs. Inspired by this very real problem is the function to set and track ‘late in/ early out’ times. To begin with, you can define these times and include a grace period if required. Henceforth, employee swipes are recorded and automatically cross-checked with the prevailing rules for any breach. You can also set up various alerts via SMS/ mobile notifications/ email to sound off if an employee is consecutively late/ leaves early. On top of that, the admin can get alerts on shortfalls in work hours for any employee that is calculated based on swipes and rule criteria.
If you're looking for a detailed 'how to' guide on these new features, head over to the detailed guide.