Obstacles Faced by the Asian Retail Sector
FREMONT, CA: Payroll processes and HR administration can be predominantly problematic for the retail industry, which is why most of them seek to source a proficient services company that specialises in these areas. Once the conclusion to work with a managed services provider is taken, finding the correct partner or implementing a successful project is sometimes hard. These challenges reverberate across the whole retail sector in Asia.
Retail Industry and Payroll Challenges:
Payroll and HR administration need to be key areas of focus for all retail business participants, and there are significant challenges that can have a substantial impact on businesses. The retail sector faces very lofty levels of staff turnover, damaging the HR team’s capacity to maintain adequate recruitment and training programmes.
A considerable proportion of staff operates on flexible working hours as seasonal spikes in the number of customers demands greater staffing. These concerns make the compilation of precise attendance data more intricate and put additional stress on regular staff and training programmes.
Moreover, staff commission arrangements are often exceedingly complex and subject to modifications, resulting in further complications in payroll data gathering and computation. Simply organising payroll processes can devour an excessive amount of HR time, leaving little for onboarding, recruitment and staff training. Enterprises are faced with either hiring a squad of HR professionals or looking for a reliable and effectively managed services partner.
Ways of Having a Successful Partnership:
Countless aspects add to the failure or success of a sourced project. From the outset, the retailer needs to have executive level finance to support the project, precise planning leading to a distinct set of objectives, and dedicated in-house resources to understand the business requirements. If the project is viewed as just an outsourcing problem, then it is unlikely to achieve the premeditated goals. The best method to achieve success is to build a true partnership together with the managed services provider that will not only distribute the project but will also stand the extended test of time.