HR And Payroll: Achieving Accountability, Transparency In RetailSource: Kronos Incorporated
The recent slump in the economy, along with the rise in unemployment rates, has created a continuous stream of external pressures to which the retail industry must be ready to respond in order to remain competitive.
The way consumers make their purchases is now more fragmented as more retailers provide options to buy online, in the store, or over the phone through catalog purchases. With more choices than ever, and fewer reasons to remain loyal to one brand, retailers are feeling the pressure to make their brands stand out and get noticed by consumers.
Additionally, organizations face many internal pressures that compound the challenge to achieve efficiencies, control costs, and be compliant while driving sales. Current HR and payroll processes and systems in use tend to fail to meet the needs of the organization for one of three reasons: Inefficient manual processes, poor information, or expensive, unsuitable tools.
This paper will closely examine the external and internal challenges facing the retail industry and show us exactly how serious this issue has become, and how a unified HR and payroll system can help solve the current challenges.