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HRMS

Purple Unicorn: What Makes Them A Rare Employee

The term ‘purple unicorn’ has been used for two things in the labor sector: the first relates to technology companies that have increased their value quickly, reaching billion-dollar levels.The second has been applied to a term that is highly attractive to companies: purple unicorn employees.In terms of attracting professional talent, Purple unicorns are not mythological beings with horns on their foreheads but rather something equally difficult to find.

Next, learn about the definition of a purple unicorn profile and the characteristics that define them.

What is Purple Unicorn?

Purple unicorn employees are those workers who possess a set of work qualities that are difficult to find in one person.

They have no limits, have a constant hunger for learning, and are not defined by their professional ‘title.’

In other words, purple unicorn employees are people who do not meet the requirements for a role but have the potential to fill the needs and challenges required.

Looking for an employee with the following skills? So you are not looking for just any talent but a ‘purple unicorn.’

Characteristics of a Purple Unicorn Candidate

A title does not define them

Purple unicorns are flexible and curious, with ideas and a desire to collaborate in different areas of the company.Although they know a specific area, they do not hesitate to learn and contribute in other areas and to the growth of the business.

They are kind and respectful

They are highly capable of relating to others, regardless of their position. And this allows them to create work teams in which respect and harmony are the common denominators.

They make things happen

They can create fun and productive work environments. But they are also objective enough to know that if one of their teammates does not produce the expected results, their participation in the team is meaningless and harms others. Purple unicorn employees make everything take the course that they must follow to achieve their goals.

 

Panoramic view with details

Purple unicorns’ strategic thinking allows them to see the big picture from the general to the particular to apply this knowledge to their work without missing any details. Their attention is so meticulous that it helps the organization anticipate problems.

They show real value

They have passion, perseverance, and determination to achieve the projected goals. In addition, to face the tests that arise in the dynamics of day-to-day, they have great strength, concentration, and calm that are decisive for success.

Purple Unicorns And Purple Squirrels

Apparently, purple unicorns do not have professional titles but have the potential to make reliable decisions that will lead to successful growth. A purple squirrel is the ideal candidate who meets every requirement and can perform the job without question. These people are hard to find, so carefully invest your resources in looking for them. Most purple squirrels and unicorns know their worth. If you’re considering hiring one, you’ll need to set aside plenty of time and spend a lot out of your company’s pocket.Unicorns and purple squirrels aren’t cheap, because they know how rare they are and often demand housing and travel expenses

Final Words

As you can see, purple unicorns and purple squirrel characteristics are difficult to find in a single person.So recruiters should pay close attention to the process if they face a unicorn employee. They bring many benefits to the company and finding one is like finding a needle in a haystack. Do not let them go!

Putting the right recruiting software can make a huge difference while searching for a purple unicorn or purple squirrel. One such software is NYGGS recruiting software. It uses artificial intelligence to identify and suggest well-suited candidates for you. This recruiting software will save you time, and it’s likely to be more accurate. It will make the hiring process more reliable to hunt purple unicorns and squirrels, helping to take your business forward.

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HRMS

Why is Project Management Software Essential for a Business?

After the pandemic hit, work from home (WFH), which was once considered a luxury, became a norm for everyone. Many organizations found it hard to adapt to these changes, resulting in low productivity and loss of business. But humanity, as we know, always prevails when facing adversity. With the assistance of technological innovations like project management software, companies restored the collaboration and communication that once went missing while working from the corners of our homes. A couple of years after the first lockdown, although the health conditions have improved, the work culture has stayed, with 82% of employees still preferring to work from home. Thankfully, project management software applications are here to ensure that all your company’s projects are delivered without any delay. In this blog, we will answer some questions regarding the functionalities and benefits of task management software for a business. Let’s begin our journey!​

Features of Project Management Software

As the name suggests, project management software helps you manage projects by providing the necessary frameworks and tools required to deliver a project on time. Here are some of the features that make this software apt for your organization:

1. Planning & Scheduling

Projects involving multiple branches, teams, and employees require a proper framework, or else they will result in chaos and missed deadlines. Task management software allows you to set up frameworks by assigning a task with deadlines to team members based on priority and roles. Additionally, the software notifies all the stakeholders of any updates and sends them timely reminders regarding deadlines, ensuring that your organization always delivers on time.

2. Team Collaboration

Big projects require constant communication between various teams, each working on a different aspect of the project to fulfill dependencies and deliver seamlessly. It’s necessary to provide them with a quick and easy communication channel. Project management software enhances collaboration through dashboards where teams can upload and share files and send instant messages through the in-app chat. Team dashboards also provide visual insights, including project progress and KPIs, allowing stakeholders to overview the project and make changes in case of delays.

3. Project Budgeting & Billing

It is simple, excel spreadsheets are not enough to track and manage all the expenses involved in a big project. Project management tools allow you to pre-define budgets and set milestones for individual projects. If you are doing projects for multiple clients, this tool will enable you to bill them at hourly rates by tracking time spent on their projects. This feature automates the process of invoicing and saves multiple hours spent on monotonous processes. Additionally, project management software generates budget reports that can be utilized to reallocate budgets and cut losses.

4. Asset Management

Every project involves multiple assets in different industries, for example, a construction project requires tools and vehicles, and an IT project involves laptops and cell phones. These assets are expensive and require constant monitoring and maintenance to ensure smooth performance. Project management tools help you assess the requirement of assets for a particular project and check their availability in your inventory. This software also schedules maintenance and sets guidelines for people using these assets. Project management software enables you to manage company resources for different projects, ensuring that everyone has the tools to perform their roles.

Benefits of Best Project Management Software

By now you probably have an idea of how project management software benefits organizations. The right software can smoothen every aspect of a business, its importance can never be overemphasized. Let’s look at some of the benefits of the best project management tool:

Saves Time & Money

Project management tools inculcate frameworks that ensure the timely delivery of projects within budget by mapping out the entire journey of the project. These frameworks enable companies to allocate resources and check progress, helping you overcome any delays and budgetary issues.

Improves Business Decisions

Project management tools provide you with a deeper understanding of projects, enabling task prioritizing, resource allocation, and data-backed decisions. Best project management software helps you foresee issues, prevent bottlenecks, and take preemptive actions, ensuring you don’t lose track and make better business decisions. It uses information from previous projects to identify where team performance is adequate and where it can be improved.

Enhances Projects

Task management tools enhance projects by aligning tasks and responsibilities and automating time-consuming activities. This software ensures everyone is on the same page through in-app dashboards and chats, saving time by reducing rework and limiting risks by allocating responsibility. The time saved can be used to innovate and ideate, adding more value to the business.

Summing it Up

The work culture has drastically changed post-pandemic. Companies need to prepare for these changes by adjusting their organizational framework. Project management software enables companies to make these changes and refine processes at the same time. These tools save time, money, and effort, allowing you to improve the efficiency and quality of your projects. Are you facing issues while managing your projects? Are you looking for the best project management software in the market? Our end-to-end project management tool ensures that all your project needs get fulfilled at reasonable costs. Connect with one of our specialists to learn more about the benefits of our project management software for your organization. Fill our form for an obligation-free consultation or email us at sales@nyggs.com.
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HRMS

Payroll Software: A Comprehensive Guide

If you are running a business with multiple employees, you must have heard the word ‘payroll’ thrown around a lot. And why not? After all, payroll is an essential process for any business as it entails compensating employees, one of the most essential resources,  timely for all their hard work. Even though the process sounds unchallenging, it is nothing but that. Payroll is very complicated as it involves multiple calculations, including Tax deducted at Source (TDS), Employee Welfare Fund (EWF), basic salary, HRA, and other allowances. Many companies fail to complete this task on time without any miscalculations. Thankfully, payroll management software is here to save the day. Through this article, we will learn everything there is about payroll software so that you can understand its utility for your business. By leveraging this guide you can make an informed decision when buying a payroll application for your organization. Let’s begin!

What is Payroll Software?

Payroll software is a Software as a Service (SaaS) that allows HRs and other stakeholders to automate payroll and streamline employee payments. Payroll software ensures that companies stay compliant with all the financial regulations while delivering accurate and speedy results, enabling the stakeholders to concentrate on other aspects of business that add more value

What does Payroll Software do?

It performs three primary functions. They are:

1. Payroll Automation

Payroll automation minimizes human input, enabling organizations to improve transparency and uniformity. All the calculations are performed using data collected by integrating with other HR processes like attendance and recruitment, ensuring there are no mistakes. Automating payroll improves the efficiency and productivity of an organization, enabling the HR department to release payments on time and concentrate on other activities that increase business value.

2. Tax and Compliance Management

Taxes, in general, are a bane to any individual, but the ever-changing corporate tax structure is even worse. On top of that, if you add the different taxable amounts in separate regions where your employees might be working, then it becomes a mammoth task for any accounts department. To stay compliant and stay up with payments, you need to employ more than a few accountants to fend off dire consequences like fines and audits. A payroll solution not only auto-updates the latest changes in tax regulations, but it can also calculate the tax contributions of thousands of employees instantly with minimal human involvement. Consequently, ensuring that your company stays efficient and secure without multiple accountants on your payroll.

3. Report Generation

For any business, it is essential to come up with ways to make its processes better. Payroll software provides easy-to-understand and in-depth insights that can be leveraged by companies to learn how their payroll expense is spread out. These timely generated reports can be utilized by companies to cut unwanted expenses and prepare for the future.

Benefits of Payroll Software

Here are some of the benefits of a payroll solution:

Quick and Easy Access

As payroll software solutions are cloud-based, they can be accessed from any location at any given time through any internet device. Additionally, the software doesn’t require any installation or configuration, enabling HRs to use it in a couple of hours, saving time and effort while reducing software deployment errors.

Security

Companies can provide user-specific access using payroll software solutions, allowing employees to access data according to their roles. Payroll software also utilizes other methods like TLS (Transport layer security), which establishes encrypted links between all the networks, eliminating data theft.

Easy Upgrades

Before cloud-based software, individuals could only purchase software and use it on-premise. To upgrade the software application, HR managers had to buy a newer version and install them again. The modern payroll management software can be updated as soon as the new version is released, reducing the effort and costs involved substantially.

Scalable & Adaptable

Modern payroll management solutions are more scalable and offer integrations with other cloud-based applications. Moreover, they are extremely adaptable to any changes. This feature allows organizations to change locations and adapt to mergers without thinking about regulatory changes.

Considerations to Make While Choosing Best Payroll Software for Your Business

Ease of Use

What is the point of getting software if you don’t know how it works? Before buying payroll software, make the stakeholders find it easy to operate so they don’t have to consult IT and HR multiple times.

Instant Support

Many payroll software providers forget about their clients after selling their products. Any amount of software downtime can be harmful to your bottom line. While choosing a vendor, make sure they offer instant support and troubleshoot any issues that you might face.

Vendor’s Portfolio

Before purchasing the solution, ensure that the vendor has previously served companies of your industry and size. An inexperienced vendor might not have the guile to fulfill your needs, resulting in a negative experience.

Integrability

The payroll software you choose should be able to integrate with other business and HR functions of your organization, including accounts and attendance. This ability is essential as it streamlines business processes, allowing companies to have oversight over everything.

Configurable

Last but not the least, make sure that you get a solution that allows you to personalize fields and other facets of the system according to your needs without the involvement of a software expert.

To Conclude

Payroll software allows you to become more dynamic as an organization. It fulfills the need of the current market, where a plethora of workers, including part-time, freelancers, and wage workers, have joined the regular employees. Additionally, the ability to roll out instant updates makes your organization adaptive to any future trends. If you are searching for the best payroll software, look no further. NYGGS offers an innovative payroll solution that can take care of all your needs, that too, at a reasonable cost. Connect with one of our specialists to learn more about the benefits of payroll software for your organization. Fill out our form or Call us at 91+ 9518098281.
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HRMS

5 Ways an HRMS Can Improve Hiring in 2022

The importance of the HR department has skyrocketed in the last decade. According to research, the HR industry will become increasingly pivotal in the upcoming years and continue to grow at a compound annual growth rate (CAGR) of 12.2% from 2021-2028. HR managers today play a crucial role in the success or failure of a company as they control the quality of incoming employees.
Hiring competent employees who can deliver high-quality work has become the need of the hour, whereas hiring the wrong employee can hinder the business, resulting in the loss of revenue, clients and time. In this modern work environment where only the best will suffice, a company needs all the help they need to make an informed decision. A Human Resource Management System (HRMS) incorporates all the next-gen technologies to automate the hiring process and enables you to hire the best-in-class employees, ensuring that your company thrives. Today, we will look at 5 ways how an HRMS can improve the hiring process. Let’s begin!

 

1. Shortens Time-to-hire

Shortening the time to hire helps your company steal a march in the market and hire the best employees while saving money. The more time it takes for a company to hire a candidate, the higher it costs an organization. Having the right HRMS can reduce the hiring time by a significant amount. The best HRM software offers automation and helps you automate tasks like job postings, updating applicants, notifying the HR department, and filtering resumes. Consequently, speeding up the hiring process.

2. Reduces Paperwork

There was a time when HR cabinets were full of paperwork and files. Although the amount of paperwork found in an HR office has significantly reduced, they still have a way to go before they can become paperless. Making your department completely paperless using HRM software makes the hiring process seamless as all the information can be accessed using the cloud from anywhere at any time. Additionally, all your data stays secure, unlike paper documents that get lost forever.

3. Makes Data-backed Decisions

An HR software sifts through the resumes using specific keywords, analyzes them and aligns them with your organization’s wants and needs. This organized and ranked data allows HR managers to compare resumes and push the most suitable ones to the next round. This feature helps you save the resources and time required to review applications. Moreover, the lack of human involvement reduces the chances of errors and ensures that candidates don’t get lost during the hiring process.

4. Attracts The Best Candidates

The best candidates opt for companies that provide them with the most user-friendly and modern hiring systems. As the applicant has limited or no information regarding the usage of the HR software, encountering a cumbersome interface can drive the best talent away. Furthermore, the prospect of using an HRM software that makes it easier for employees to mark attendance, leaves, and remuneration instantly using a mobile-first app is another factor that entices good candidates to apply for jobs in your organization.

5. Eliminates Third-party Recruiters

Although good third-party recruiters can streamline recruitment by understanding the goals of your company, they charge exuberant sums of money to do so. HRM software eliminates the need for such recruiters by building a robust candidate pool using data analytics and other tools. The best HR software applications also allow integration with job boards and assist hiring teams to write detailed job descriptions to attract top-notch talent. As a consequence, bringing down the hiring budget drastically.

 

Final Word

An effective HRMS will ultimately lead to improved efficiency and workforce for the business. Automating monotonous manual hiring will allow your HR to work more efficiently and focus on other urgent tasks. Additionally, HRMS reduces the time and money spent during the entire HR cycle, empowering a company to achieve its growth objectives. Getting the best-in-class HRMS has never been easier. NYGGS, the first hire-to-retire HR software can streamline your entire hiring process, ensuring that you only hire the best talent. Connect with one of our specialists to learn more about the benefits of HRMS for your organization. You can fill out our contact form or email us at sales@nyggs.com.