Reference no: EM132887413
In Compensation Area, there are many issues that face by a staff as follows.
1. Processing incorrect information, one of the most common issue that can result in paying an employee the wrong amount.
2. Late payments, employees need to be paid on time, when payroll process is late it will be frustrating and can result to dampen morale and productivity.
3. Misclassifying employees, one of the hardest issue which misclassified employees leads to denied of company benefits, such as overtime pay, vacation pay or pension.
4. Regulatory Changes, the risk of this issue is not only noncompliance with the regulatory tax agency but also in underpaying or overpaying the employees.
5. Tracking overtime, another common issue which not accurately reporting or calculating overtime.
6. Bank Holidays, forgetting the bank holidays it causes delays in paying employees.
Make some recommendations on the above 6 issues and make suggestions on how to fix it
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