Thriving businesses are combating another post-COVID-19 challenge, the Great Resignation, and searching for ways to better plan the re-opening of the workplaces. By leveraging the core capabilities of NAVDPayRoll, companies can ensure the retention of their hybrid workforce and improve business efficiency.
NAVDPayRoll is an inventively orchestrated cloud-based HRMS and Payroll solution that manages all such functions, including self-service center, reimbursement, leave, and even employee recognition. This extensive Payroll management solution can be procured by both the old and new customers of Dynamics NAV and Dynamics 365 Business Central handle their HR & Payroll simultaneously.
The Great Resignation and Your Business
This is a post-pandemic trend where employees are leaving their current companies in an unprecedented and disruptive way. For the most part, employees following this trend are massive in number, hence, impacting companies quite adversely.
The COVID-19 pandemic propelled the sharpest economic contraction so far where millions lost their jobs and many are still out of work. Yet companies are struggling to fill their open positions. Researchers believe that the following factors are leading to this wave of resignations:
- Employees may leave in search of a more flexible and autonomous setup as working remotely has helped them manage home and work simultaneously. Employers deciding to make a full return to the office are more likely to come across this scenario than those who wish to do it in parts.
- Accelerated retirement plan, women quitting job due to overburden of child care & family, and availability of more options to choose job types than ever before. More job options for employees.
- Unfulfilling jobs, cut on paychecks, and lack of retention strategy &employee benefits are leaving companies with no solution for retaining their talent. Higher standards for work. Moreover, this Great Resignation is likely to cost companies in more ways than one.
NAVDPayRoll Can Help You Mitigate Its Impact on Your Own Workforce through Meaningful Employee Recognition Efforts
Recognition refers to the direct demonstration that the employer cares about his workforce or talent in a holistic way. One can choose significant forms of recognition, including appreciation during a meeting, experiential rewards, monetary bonuses, gift vouchers, and holidays.
Here, NAVDPayRoll lets you recognize your employees in real-time on the basis of their
- Accomplishments and progress
- Work ethics
- Peer review
- Donation/Charity (If any)
- Time Management
You can make the most of this HRMS and PayRoll to recognize your employees virtually and let them feel more engaged with the organization.
- Celebrate their achievement in a group call or meeting
- Send them emails appreciating their efforts for the company
- Reward them with online gift vouchers or hampers
- Celebrate their work anniversaries
- Endorse a holiday or lunch
Interestingly, you can do all such through an interactive dashboard offered by NAVDPayRoll. This would help you save time and ensure that your employee welcomes the recognition as well.
For the most part, appreciated employees remain motivated to stay and produce their best work accordingly.
This payroll management system allows you to bring their success stories to life to your entire company by sharing photos through internal channels. You can avail of our integrations with Microsoft Teams to simplify this engagement for your business. This would help you demonstrates that your company values retaining great talent and reward its top performers.
NAVDPayRoll is the one-stop solution that lets you take a rest from payroll on your own. Like most payroll system software, it automatically updates when statutory requirements change and will alert employers when to file certain tax forms. Many companies outsource payroll administration by connecting to a certified Cloud Solution Provider, who can help ease the burden of PayRoll management.
Serving in cloud computing solutions for more than a decade and being an official Microsoft partner, we can help you effectively manage payroll, HR, and stay compliant. We have won many accolades for our exemplary services and assisted in maintaining business continuity across all our businesses even during the COVID-19 pandemic lockdown.
As we know that Dynamics NAV is now closed off to new businesses; SMBs looking to deploy Microsoft’s Cloud ERP solution can go for Dynamics 365 Business Central. Those who are already running on NAV will automatically be upgraded to Dynamics 365 Business Central. However, we exclusively present NAVDPayRoll to cater to all PayRoll and Human Resource requirements and steer distinguishing accomplishment across employee management.