2interact

  1. Timesheets & Payroll

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    Overview Timesheets are used to record and report time worked by employees. The purpose from recording and reporting time is to pay the employee for time worked including regular hours and overtime hours for hourly employee and to track attendance. Additionally, it is used for client billing and project management and labor distribution for labor costing. The timesheet applies primarily to hourly employees as hourly employees are paid by the hour and expected to be paid for overtime work. On the other hand, salaried employees, in most cases, do not submit timesheets as they are not paid for overtime. However, in some instances, salaried employees submit timesheets for client billing and attendance tracking and labor distribution and costing. Additionally timesheets may be used to record specific allowances such as travel allowance, food allowance, and leave time, both paid and unpaid time-off. The timesheets captures critical time data which is processed...
  2. No Science in your Salary?

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    In a recent Wall Street Journal article titled “Why There Is No Science In Your Salary.”, Lauren Weber writes: “Only 38% of employers have a formal compensation structure or philosophy guiding their pay decisions, according to PayScale Inc., which examined data from some 7,600 firms, mainly from the U.S., Canada and United Kingdom. The issue is especially acute in salaried roles, say compensation experts, because managers have more leeway to put a figure on an employee’s skill, experience and performance than they do with hourly positions. Yet as the labor market improves, and as fair-pay laws in California and elsewhere put a spotlight on corporate pay practices, firms are starting to rethink the way they set salaries. Among employers with no formal strategy in place, PayScale found that 34% are developing one.” Pay equity has always been an important element in employee satisfaction, isn’t it surprising then that so few...
  3. Interact Payroll System Framework

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      In the article, The Payroll Miracle, I have provided the definition of Payroll processes, and provided the calculation method of the employee Net Salary as well as the variables and functions used in calculating the net salary and the payroll data types, and sources. In this article, I shall describe Interact Payroll System Framework as it relates to the Payroll Definition described in the previous article. It is important to understand that each payroll system has its own framework and not all payroll frameworks are created equal. Some payroll frameworks are rigid and limited, while others are flexible and agile as they provide more flexibility accommodating multiple types of payroll setups to support specific payroll requirements of the organization, industry, business type, and country. Interact Payroll System Framework is highly flexible, it is policy driven, where all payroll rules and associated calculation methods are defined as policies during the payroll...
  4. The Payroll Miracle

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      The other day, I read an article that states that a new HR Company has developed a Payroll System in 60 days that runs the payroll by itself without any user intervention and it does it by using HR data with the click of a button.  Well, well, I said to myself, this is really genius and magic. If someone can do that, that is not only disruptive, but revolutionary – that is like saying that I have developed a magic stick that you can put in the ocean and it will turn ocean salt water to drinking water in a second. Wow that is incredible and miraculous. Since I have spent most of my adult life dealing with payroll and the intricacies of payroll in many countries, I said to myself I should write this blog to explain the payroll, its meaning, and its complexities, and why it cannot...
  5. Human Resources Management Business Process Map

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      For a Human Resources (HR) Department to play a strategic role within the organization, it needs to be proactive with its business processes/functions and how these impact the performance of the organization as a whole and how it adds an extensive value to the success, effectiveness, and efficiency of the organization. In this paper we shall present the HR business processes, whether such processes or functions are fully under the responsibility of HR or HR is partially involved in these processes. So, we can demonstrate the extent of the impact of HR on the Organization operational and financial performance. It is critical to understand that for HR to play its role within the organization, it needs to go beyond personnel record management, and start to view itself as a strategic partner within the organization. In order to achieve the goal, HR needs to understand its business process/functional scope and...
  6. Interact HRMS – Implementation Methodology

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      Interact Implementation Methodology is guided by the “Less is More” philosophy and the ease of use guiding principle. The methodology consists of five components/stages as shown in figure-1. Figure-1 – Interact Implementation Methodology Framework Planning The planning component is used to plan the project and consists: – Project Kickoff Meeting – Project Stakeholders and Responsibilities – Preliminary Project Plan – Prerequisites – Change Control – Risks and Mitigation The planning stage of the implementation is very critical, as it defines the project team, stakeholders, expectations, risks, responsibilities of the parties, and the plan of the implementation including the activities, timetable, and resources. Note that in the absence of a plan you’ll never be able to complete the project as the plan is a guide that will show all parties what are the activities that need to be conducted and when, as well as who is responsible for each activity....
  7. Interact HRMS Implementation – Framework and Setup Stages

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      Before you commence Interact HRMS implementation and setup, you need to understand the Implementation Framework and Stages of Interact HRMS as this understanding is very critical to conducting a successful and timely implementation. This section describes the Implementation Framework and Stages of Interact HRMS. Implementation Framework Interact HRMS Implementation Framework is defined by the components that need to be defined in order to implement Interact HRMS. These components are defined as follows and as shown in figure-1: Figure-1: Interact Implementation Framework Foundation These are the business entities of the company/organization within which Interact HRMS will be implemented and to which the company HR and Compensation and Payroll policies will be applied. These business entities or foundation elements consist of the following: – Enterprise – Employers – Organization Units – Employee Groups – Job Classification – Cost Centers – GL Accounts – Chart of Account Structure – Fiscal Year and Periods...
  8. Interact HRMS has more than one type of Payroll

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    Ease of Use is a key concern for us at 2Interact and we make sure that while we offer very sophisticated functionality that is global and therefore highly configurable and generic, we also keep a laser focus on simplicity and ease of use.   Many software providers take the easy road by creating unlimited screens and forms for every feature under the sun and thereby drown their users in complexity.  It’s much harder to design an enterprise Payroll that not only has depth and breadth in its functionality, but is also simple to use.  In other words… you shouldn’t need a PhD to run a Payroll in a good enterprise system. That brings us to the different pay cycles and different types of payroll.  Interact HRMS supports any Pay Cycle / Pay Period you can dream of (Weekly, Biweekly, Semi Monthly, Monthly, Quarterly or custom-periods), these Pay Cycles/Periods can of course all be managed...
  9. Guiding Principles of Interact HRMS

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    Interact HRMS – Guiding Principles   Simplicity.  Interact HRMS solutions are designed to be simple in everything they do.  Whether your needs are sophisticated or very basic, there is always a beautiful and simple way to deliver on them, and that is what we strive for. Ease-of-Use.  Simplicity leads to Ease-of-Use.  The biggest challenge in the industry is that enterprise applications become so complex that users require constant training just to be able to perform regular tasks.  Our mission at 2Interact is to make sure that users of any level can quickly learn their specific tasks and perform them on their own.  Due to the powerful self-service capabilities, all transactions can be performed by those users who are closest to the particular data (i.e. employees can fill in their benefit enrollment forms, leave requests, training requests, address change, etc.) instead of having this done by HR users. No dual entry. ...
  10. What makes Interact HRMS unique in the world of HRIS solutions?

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    Interact HRMS is a unique solution in the global market of HRIS applications for a number of important reasons:   70 modules all in one.  Interact HRMS consists of 70+ modules in HR, Payroll, Time, Benefits, Talent and Risk management.  It’s not a collection of loose modules, nor a combination of different systems cobbled together from different vendors.  No, Interact HRMS is a complete solution that caters to all needs from “hire to retire” through a single portal. Original Developer. In the HRIS world, you’ll find that many software providers did not develop themselves the software they are selling you and sometimes don’t even own the rights to it (they acquired software companies or they have an OEM licensing agreement with another software provider).  This is not the case with Interact HRMS.  All the software offered by 2Interact is originally developed and owned by 2Interact, which means support will be guaranteed and...

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