Post by account_disabled on Mar 7, 2024 1:28:11 GMT -5
Managing a company's payroll can highlight interesting facts: monthly, the employee receives approximately 60% of the total cost he represents for his company, the other 40% is related to social charges and mandatory benefits that he must receive, according to a study by Fundação Getúlio Vargas (FGV) , not to mention possible additional ones. Furthermore, keeping an employee in your company for longer can reduce your costs by up to 7%, according to the same study. Because they do not fully understand all the variables involved in payroll management , many entrepreneurs end up resorting to loans to cover very predictable costs, such as the 13th salary or expenses with employee turnover. To help you with this mission of managing your company, we have put together 7 tips that can increase your profitability by reducing problems arising from your payroll obligations. Check out! 1. Have a contingency reserve A contingency reserve is used to cover possible losses from unforeseen events, such as natural disasters or strikes. It is widely used in limited capital companies.
Prevent part of the capital invested by partners from being consumed by this type of event. Adopting a contingency reserve in your company can also help in unforeseen situations, such as a labor lawsuit, or giving you the freedom to fire employees who are performing well below expectations. All this without compromising the working capital or assets of your business. 2. Establish a bank account to manage payroll Having a dedicated bank account for paying payroll brings two direct benefits: in case of inspection or need to prove a payment, you will not need to search through different accounts to find out which one British Student Phone Number List transferred to the employee's salary account; you will have a very realistic view of what are the expenses involved in remunerating your employees, what are the provisions for vacation and 13th salary payments and what are the taxes paid to the government. 3. Provision for vacations and 13th There is a difference between making a provision and a contingency reserve. In the case of provisioning, you know what the expense will be, when it will occur and under what conditions and this gives you the power of forecasting and planning.
The reserve is maintained exclusively for emergency and unplanned situations, that is, it may or may not be used over the course of a year. In the case of the 13th salary and vacations, the best thing to do is consider them as costs or expenses that occur monthly or define a provisioning percentage according to the seasonality of your segment. In either case, the important thing is to never resort to bank loans to cover this amount, which can be predicted and saved during the course of your company's annual activities. 4. Set salary ranges Some companies use a job and salary structure to define salary ranges that provide a common calculation basis for several employees and help control changes and updates to the total payroll value. This method of organization helps to update payroll expenses, after all, throughout the year there is a period of disputes, promotions, new hires and layoffs in your company. 5. Use technology, but be a little conservative with your payroll files Using a business management system to automate payroll administration, charges, control your employees' working hours and automatically issue pay slips has become a very common practice.
Prevent part of the capital invested by partners from being consumed by this type of event. Adopting a contingency reserve in your company can also help in unforeseen situations, such as a labor lawsuit, or giving you the freedom to fire employees who are performing well below expectations. All this without compromising the working capital or assets of your business. 2. Establish a bank account to manage payroll Having a dedicated bank account for paying payroll brings two direct benefits: in case of inspection or need to prove a payment, you will not need to search through different accounts to find out which one British Student Phone Number List transferred to the employee's salary account; you will have a very realistic view of what are the expenses involved in remunerating your employees, what are the provisions for vacation and 13th salary payments and what are the taxes paid to the government. 3. Provision for vacations and 13th There is a difference between making a provision and a contingency reserve. In the case of provisioning, you know what the expense will be, when it will occur and under what conditions and this gives you the power of forecasting and planning.
The reserve is maintained exclusively for emergency and unplanned situations, that is, it may or may not be used over the course of a year. In the case of the 13th salary and vacations, the best thing to do is consider them as costs or expenses that occur monthly or define a provisioning percentage according to the seasonality of your segment. In either case, the important thing is to never resort to bank loans to cover this amount, which can be predicted and saved during the course of your company's annual activities. 4. Set salary ranges Some companies use a job and salary structure to define salary ranges that provide a common calculation basis for several employees and help control changes and updates to the total payroll value. This method of organization helps to update payroll expenses, after all, throughout the year there is a period of disputes, promotions, new hires and layoffs in your company. 5. Use technology, but be a little conservative with your payroll files Using a business management system to automate payroll administration, charges, control your employees' working hours and automatically issue pay slips has become a very common practice.