{"id":8382,"date":"2020-07-01T21:06:59","date_gmt":"2020-07-01T13:06:59","guid":{"rendered":"https:\/\/igcse.infinity.edu.my\/2023\/07\/02\/key-considerations-about-payroll-management-during-a-time-of-crisis\/"},"modified":"2023-07-13T16:01:40","modified_gmt":"2023-07-13T08:01:40","slug":"key-considerations-about-payroll-management-during-a-time-of-crisis","status":"publish","type":"post","link":"https:\/\/igcse.infinity.edu.my\/?p=8382","title":{"rendered":"Key Considerations About Payroll Management During a Time of Crisis"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"8382\" class=\"elementor elementor-8382\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-40d1ec45 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"40d1ec45\" data-element_type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[{&quot;jet_parallax_layout_image&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;_id&quot;:&quot;f143338&quot;,&quot;jet_parallax_layout_speed&quot;:{&quot;unit&quot;:&quot;%&quot;,&quot;size&quot;:&quot;50&quot;,&quot;sizes&quot;:[]},&quot;jet_parallax_layout_bg_x&quot;:&quot;50&quot;,&quot;jet_parallax_layout_bg_y&quot;:&quot;50&quot;,&quot;jet_parallax_layout_image_tablet&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_mobile&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_type&quot;:&quot;scroll&quot;,&quot;jet_parallax_layout_direction&quot;:null,&quot;jet_parallax_layout_fx_direction&quot;:null,&quot;jet_parallax_layout_z_index&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size&quot;:&quot;auto&quot;,&quot;jet_parallax_layout_bg_size_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_animation_prop&quot;:&quot;transform&quot;,&quot;jet_parallax_layout_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;]}]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-72fca834\" data-id=\"72fca834\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-37e0117c elementor-widget elementor-widget-text-editor\" data-id=\"37e0117c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.12.2 - 23-04-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p id=\"viewer-aigso\" class=\"XzvDs _208Ie _247b9 _2QAo- _25MYV eaHbJ _247b9 public-DraftStyleDefault-block-depth0 public-DraftStyleDefault-text-ltr\"><span class=\"vkIF2 public-DraftStyleDefault-ltr\">When it comes to the subject of payroll, often what comes to mind is the tedious process of ensuring monthly payroll processes are completed seamlessly and on time, preferably without errors. After all, any mistakes can result in serious implications. It includes penalties that are imposed on the employer for wrong tax calculation, employees not made known of new or existing amendments to the legislation and more. These penalties apply despite the changes in working arrangements or business processes brought about due to the covid-19 pandemic. Payroll processes must continue as usual! Hence, if the subject of payroll processes has been a concern of late, here are some key considerations when deciding how to move forward: <\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b7bc854 elementor-widget elementor-widget-heading\" data-id=\"b7bc854\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.12.2 - 23-04-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">Legislations change. Income Tax laws change. Company policies change. Employees change. <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-47f60f1c elementor-widget elementor-widget-text-editor\" data-id=\"47f60f1c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Change is inevitable. Even more so during the past few months since the pandemic has affected both individuals and businesses. Income tax laws and legislations are frequently amended, and those in charge of your company\u2019s payroll, whether in-house or outsourced must remain proactive and aware of any of these changes. Hence be sure to hire someone experienced and knowledgeable in matters relating to statutory compliance. Otherwise, leverage on the expertise and knowledge of an outsourcing team so that you can focus on other matters of great importance, such as ensuring a productive workforce during these challenging times or growing your business.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-56e56fff elementor-widget elementor-widget-heading\" data-id=\"56e56fff\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Keeping Your Company\u2019s Data Safe and Secure.<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3e6a2e0a elementor-widget elementor-widget-text-editor\" data-id=\"3e6a2e0a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p id=\"viewer-clncp\" class=\"XzvDs _208Ie _247b9 _2QAo- _25MYV eaHbJ _247b9 public-DraftStyleDefault-block-depth0 public-DraftStyleDefault-text-ltr\"><span class=\"vkIF2 public-DraftStyleDefault-ltr\">Another buzzword with the rise of digitisation is security. Data security to be more specific! This includes employee\u2019s private information such as their address, contact details, bank account information and salary. Common steps taken to ensure such sensitive information is not comprised include, <\/span><\/p><ul class=\"public-DraftStyleDefault-ul\"><li id=\"viewer-4umom\" class=\"_247b9 _1cCz9 _1BJwx public-DraftStyleDefault-unorderedListItem\n   public-DraftStyleDefault-depth0\n   public-DraftStyleDefault-list-ltr public-DraftStyleDefault-reset _2QAo- _25MYV eaHbJ _247b9\"><p class=\"_208Ie _2QAo- _25MYV eaHbJ _247b9\">Physical copies of documents being kept in a locked room.<\/p><\/li><li id=\"viewer-d47am\" class=\"_247b9 _1cCz9 _1BJwx public-DraftStyleDefault-unorderedListItem\n   public-DraftStyleDefault-depth0\n   public-DraftStyleDefault-list-ltr _2QAo- _25MYV eaHbJ _247b9\"><p class=\"_208Ie _2QAo- _25MYV eaHbJ _247b9\">Excel sheets or any files stored in the computer is accessible only with a password.<\/p><\/li><li id=\"viewer-csms4\" class=\"_247b9 _1cCz9 _1BJwx public-DraftStyleDefault-unorderedListItem\n   public-DraftStyleDefault-depth0\n   public-DraftStyleDefault-list-ltr _2QAo- _25MYV eaHbJ _247b9\"><p class=\"_208Ie _2QAo- _25MYV eaHbJ _247b9\">Deterring the use of a shared computer or laptop.<\/p><\/li><li id=\"viewer-d44lr\" class=\"_247b9 _1cCz9 _1BJwx public-DraftStyleDefault-unorderedListItem\n   public-DraftStyleDefault-depth0\n   public-DraftStyleDefault-list-ltr _2QAo- _25MYV eaHbJ _247b9\"><p class=\"_208Ie _2QAo- _25MYV eaHbJ _247b9\">Sensitive information is shared only within the senior management circle and relevant departments.<\/p><\/li><\/ul><p>\u00a0<\/p><p id=\"viewer-3aan2\" class=\"XzvDs _208Ie _247b9 _2QAo- _25MYV eaHbJ _247b9 public-DraftStyleDefault-block-depth0 public-DraftStyleDefault-text-ltr\"><span class=\"vkIF2 public-DraftStyleDefault-ltr\">If your payroll or HR department is outsourced, be sure to ask them what are the additional steps taken to ensure that your company\u2019s data remains protected. Some questions you may want to address may include,<\/span><\/p><ul class=\"public-DraftStyleDefault-ul\"><li id=\"viewer-1oa3j\" class=\"_247b9 _1cCz9 _1BJwx public-DraftStyleDefault-unorderedListItem\n   public-DraftStyleDefault-depth0\n   public-DraftStyleDefault-list-ltr public-DraftStyleDefault-reset _2QAo- _25MYV eaHbJ _247b9\"><p class=\"_208Ie _2QAo- _25MYV eaHbJ _247b9\">How are the data stored, and is there a back-up plan?<\/p><\/li><li id=\"viewer-7i7fm\" class=\"_247b9 _1cCz9 _1BJwx public-DraftStyleDefault-unorderedListItem\n   public-DraftStyleDefault-depth0\n   public-DraftStyleDefault-list-ltr _2QAo- _25MYV eaHbJ _247b9\"><p class=\"_208Ie _2QAo- _25MYV eaHbJ _247b9\">What kind of cyber-security measures are in place to ensure this information stays where it needs to be?<\/p><\/li><li id=\"viewer-a7q1d\" class=\"_247b9 _1cCz9 _1BJwx public-DraftStyleDefault-unorderedListItem\n   public-DraftStyleDefault-depth0\n   public-DraftStyleDefault-list-ltr _2QAo- _25MYV eaHbJ _247b9\"><p class=\"_208Ie _2QAo- _25MYV eaHbJ _247b9\">What are the security features put in place for the payroll management software?<\/p><\/li><li id=\"viewer-7j2o5\" class=\"_247b9 _1cCz9 _1BJwx public-DraftStyleDefault-unorderedListItem\n   public-DraftStyleDefault-depth0\n   public-DraftStyleDefault-list-ltr _2QAo- _25MYV eaHbJ _247b9\"><p class=\"_208Ie _2QAo- _25MYV eaHbJ _247b9\">Are outsourced company employees permitted to move around freely, which means company data can be exposed easily?<\/p><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2df9646e elementor-widget elementor-widget-heading\" data-id=\"2df9646e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Should Payroll Be Part of Your Company\u2019s Crisis Management Measures?<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1a3faf3c elementor-widget elementor-widget-text-editor\" data-id=\"1a3faf3c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p id=\"viewer-edenr\" class=\"XzvDs _208Ie _247b9 _2QAo- _25MYV eaHbJ _247b9 public-DraftStyleDefault-block-depth0 public-DraftStyleDefault-text-ltr\"><span class=\"vkIF2 public-DraftStyleDefault-ltr\">A survey conducted by the Institute Corporate Directors Malaysia (ICDM) has shown that 70% of Malaysian companies have a Business Continuity Plan (BCP) to get them through a crisis. However, of that number, only 17% have found their BCP to be \u2018very effective,\u2019 while another 70% have acknowledged that further improvements are required. The pandemic has presented an opportunity for businesses\u2014 big and small to improve their existing BCP or for those without one; we\u2019re sure they are now fully aware of the importance of having one. <\/span><\/p><p id=\"viewer-2522g\" class=\"XzvDs _208Ie _247b9 _2QAo- _25MYV eaHbJ _247b9 public-DraftStyleDefault-block-depth0 public-DraftStyleDefault-text-ltr\"><span class=\"vkIF2 public-DraftStyleDefault-ltr\">Payroll processing may not typically be top-of-mind when developing your BCP. But, consider this\u2014 during a time of crisis, employees will be first and foremost hardest hit when bills cannot be paid, or they are unable to feed their family, which may eventually lead to an unproductive and demotivated workforce. Hence, ensuring sufficient measures have been put in place for a seamless disbursement of salaries to employees should be a top priority. The good news is that, if this remains a challenge, outsourcing your payroll to a reliable outsourcing firm will help ensure your payroll remains undisrupted during a time of crisis. Be sure to ask this important question when you\u2019re looking for a payroll outsourcing partner\u2014 What are the measures put in place to ensure the right legislative requirements are practised while ensuring my employee receives their monthly salary accordingly during a time of crisis?<\/span><\/p><p id=\"viewer-77aak\" class=\"XzvDs _208Ie _247b9 _2QAo- _25MYV eaHbJ _247b9 public-DraftStyleDefault-block-depth0 public-DraftStyleDefault-text-ltr\"><span class=\"vkIF2 public-DraftStyleDefault-ltr\">Experienced payroll outsourcing firms would have had sufficient measures put in place to ensure your company\u2019s payroll processes continue as per usual. <\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-147261f2 elementor-widget elementor-widget-heading\" data-id=\"147261f2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Cost-saving Measures<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-758c84e1 elementor-widget elementor-widget-text-editor\" data-id=\"758c84e1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>With the economic effects of the Covid-19 pandemic hitting hard on businesses in almost every industry, many are taking cost-cutting measures to help sustain their businesses during these trying times. As vital as it is, payroll management should be able to safe your company a dime or two (in some cases, even more!)<\/p><p>Most importantly, identify your company\u2019s needs, requirements and preference. Then explore the different options available. Some may be happy with digitising their payroll processes with the use of a payroll and HR management software while some can benefit more from the knowledge and expertise of a payroll outsourcing team.<\/p><h1 style=\"color: #000; font-family: Gascogne; font-size: 40px;\">Outsource Your Payroll as Part of BCP<\/h1><p><span style=\"font-weight: 400;\">Businesses in Malaysia are spoilt for choice today with the various payroll services that are made available to them. Payroll management; a lengthy, tedious, but vital business process can be easily made seamless today. By deciding which option would work best for your company, business owners and HR or the senior management team can focus on growing the business and keeping employees safe and healthy during these uncertain times.<\/span><\/p><p><span style=\"font-weight: 400;\">Consider outsourcing as part of your crisis management measure. This allows your core team to focus on continuing your business according to your BCP and secure the legitimacy of your business in times of crises. <\/span><a href=\"https:\/\/igcse.infinity.edu.my\/payroll-outsourcing\"><b>CXL Payroll &amp; HR Outsourcing service<\/b><\/a><span style=\"font-weight: 400;\"> guarantees compliance, reliability and security of your company profile. Talk to us to find out more.\u00a0 <\/span><\/p><p>\u00a0<\/p><p><a href=\"https:\/\/igcse.infinity.edu.my\/payroll-outsourcing\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-3752 size-large\" src=\"https:\/\/igcse.infinity.edu.my\/wp-content\/uploads\/2021\/11\/Blog-CTA-Image-Button-1-02-1024x385.jpg\" alt=\"\" width=\"1024\" height=\"385\" \/><\/a><\/p><div data-hook=\"rcv-block38\">\u00a0<\/div><p>References:<\/p><p><a href=\"https:\/\/pulse.icdm.com.my\/article\/malaysian-boards-and-directors-preparedness-for-covid-19\/\" target=\"_blank\" rel=\"noopener\"><u>ICDM Pulse: Malaysian boards are equipped to respond to the negative impact of the COVID-19 pandemic, but cite the need to adapt to the evolving situation. <\/u><\/a><\/p><div data-hook=\"rcv-block43\">\u00a0<\/div><div>\u00a0<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Nam sed est et nunc ullamcorper commodo vitae in risus. Suspendisse ac est eget mi fringilla accumsan.<\/p>\n","protected":false},"author":1,"featured_media":8385,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jet_sm_ready_style":"","_jet_sm_style":"","_jet_sm_controls_values":"","_jet_sm_fonts_collection":"","_jet_sm_fonts_links":"","_joinchat":[],"footnotes":""},"categories":[22],"tags":[],"class_list":["post-8382","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-payroll-and-hr-outsourcing"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.13 (Yoast SEO v20.13) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Key Considerations About Payroll Management During a Time of Crisis - IGCSE Tutions Offered by Infinity Training Center<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Key Considerations About Payroll Management During a Time of Crisis\" \/>\n<meta property=\"og:description\" content=\"Nam sed est et nunc ullamcorper commodo vitae in risus. 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