What is benchmarking and what does it tell you about the way you perform? Do you know how cost effective your payroll and/or HR teams are? How much does it cost your organisation to produce a payslip per month per employee? How much does it cost you to recruit a new employee? How cost effective is your contract production process?
These are some of the questions that a manager should be asking on a regular basis, and some of the questions that Eira Consulting can help you answer.
There are various benchmarking clubs that many organisations belong to, especially within the public sector, that tell a manager how efficient their team is, comparing like for like departments to see how their performance rates with other similar operations. But if your organisation doesn’t pay in to such a club, how can you, as a manager, ensure that you are delivering the most cost effective service to your organisation?
KPI’s (Key Performance Indicators) will allow you to have a clear understanding of how much it actually costs to fulfil your payroll and/or HR operational tasks, including looking at both direct and indirect staffing costs, system and IT costs as well as costs associated with maintenance of software etc for each of your separate payrolls whether it be weekly, fortnightly, monthly or annually.
Eira Consulting can work with you to identify and analyse all the costs associated with running your department, producing statistics for each of your payrolls to enable you to understand which payrolls are the most efficient, whether due to incoming data problems or internal processes. With real live data, we can compare results and identify how efficiencies can be made, bringing best practice across the teams.