What Do Business Look For From A Professional Payroll Specialist?
Some of the most crucial elements that organizations consistently focus on, take the time to invest in, and improve are salary and bonus. In addition to a complete and optimal salary calculation system, enterprises also have strict requirements and selections for their payroll professionals’ team with many different factors and qualities.
1. What Do Business Look For From A Professional Payroll Professionals?
In payroll calculation, the accuracy and precision of each figure are always required. A professional payroll professional must exercise caution when managing their workload and be able to supervise and manage while comprehending the full payroll process.
Besides the requirements above, the following factors will contribute to help the salary professional stand out in the eyes of employers:
You'll also need to pass three foundational courses: Payroll Compliance Law, Payroll Fundamentals 1, and Payroll Fundamentals 2 - in addition to a bachelor's degree with a focus on accounting and payroll. Moreover, the American Institute of Certified Public Accountants (AICPA's) Accounting Introductory course, which has been given the go-ahead to practice professionally. These classes not only improve your employability but also give you the fundamental knowledge needed to pursue a career in payroll. Some occupations that come to mind are understanding the rules for calculating salaries, being familiar with various compensation and bonus structures, etc.
Experience in using payroll software
With several files and papers, including timesheet files, employee lists, working hours per month, bonus files, allowance files, and registration for overtime, etc. the payroll process is usually complicated. Payroll specialists therefore require the aid of payroll systems to support in process optimization and reduce the amount of manual error. Instead, rather than taking days to complete tasks, payroll professionals can expedite payroll with the aid of payroll software. Additionally, the adoption of suitable and high-quality payroll software ensures the storage and security of data and facilitates data evaluation and check.
Expertise in other software
In addition to supporting the payroll system, the payroll specialist must be competent at using office software programs like Word and Excel to help them capture data, complete necessary and vital documents, etc. While working with Excel, payroll specialists need to be familiar with both basic and complex functions and formulas to avoid data errors and save time for the process.
Knowledge of the law
The ranks and pay scales are consequently very diversified because the company's workforce will consist of many different employee groupings. Not to stop here, numerous businesses will employ expatriates to work in Vietnam. Therefore, a payroll professional must have an understanding of the law, tax, to handle the process according to the law as well as complete the procedures of payment, ensuring that employees at all levels can achieved their benefits.
Data analysis skills and meticulousness - detailed observation
Because the job always has to manipulate large data sources, and those numbers are legal, the payroll specialists must have acumen about calculations, need to be meticulous and accurate, to serve the management and implementation of the payroll process.
Good customer care skills
Professional payroll experts need to prioritize in replying to customers' problems and requirements, ensuring that payroll calculation and payment is completed on time and accurately. Not to stop here, the payroll professionals also need to observe and give advice to help businesses perfect the salary model and system of the business.
2. Talentnet's payroll service
As a company specializing in providing leading human resource solutions for businesses, Talentnet's payroll service is known as one of the main services with international standard methods, confidentiality, and security. With a large database of more than 400 clients who are multinational companies in many fields, Talentnet offers a total solution for payroll according to international standards, combined with extensive local legal knowledge and fully automatic payroll system. Furthermore, Talentnet's payroll professionals team possess extensive experience with skills and professionalism, ready to assist businesses in optimizing the payroll system and process.