HR Transaction Services by Mynd

Manage your HR Services with "Mynd"

Employee Lifecycle Management

Mynd has been implementing HR shared services that standardize and centralize the employee life cycle processes like Onboarding, Employee Transfer, Confirmation, Separation Management and HR Helpdesk. Mynd also manages end to end travel and expense claim processing thus ensuring that we are there to support each HR related transaction requirements.

Onboarding Management

The first days and weeks on the job for new employees are critical to their ability to fit in and become as productive as possible, as soon as possible. Onboarding Management ensures that Mynd takes care of all pre and post joining activities of new employees. and deliver the best first few days experience to the new employees joining your organisation. The services include document management, Induction management, employee profile creation on client system or Mynd systems, and coordination for all administration activities such as asset allocation etc.

Employee Database Management

As part of Human Resource outsourcing offering, Mynd also provides the centralized employee database management. A team of professionals trained on different HR systems help in keeping all your employee records up to date. All our Human Resource Outsourcing offerings are supported by weekly and monthly HR Dashboard and analytics which provide meaningful insights to the clients for taking informed decisions.

Employee Movements

Mynd can also manage Employee Transfers and Promotions within any client organisation. This shall include monitoring such transfers, updating the relevant data in the system and keeping a track of the compensation details. Mynd shall also provide an online platform for tracking these movements where required

Separation management

Separation or exit management in itself is a combination of complex sub processes, like No dues clearance, full and final settlement etc. Our team helps you manage all these processes in a timely and hassle-free manner, removing the pain of handling multiple transactions.

HR Helpdesk

Mynd offers a robust HR Helpdesk to manage your employee query providing multiple ways to interact with the employees – web, email and phone, our team of HR process experts provide the best possible solution to all employee queries. A toll free number can also be provided for the client HR helpdesk

http://www.myndsolution.com/

Discover Mynd's Human Resource Outsourcing Services..

Mynd's HRO Services Horizon

The most promising challenge in front of any organization today is to reduce its human resource costs and optimize utilization of its existing resources, in order to maximize outputs and profits. This makes bespoke HR service delivery as the most important success factor for any organization. 

It takes significant amount of time and resources to execute human resource operations in-house. This may hamper concentration on other core business activities that are more important, be it bringing business into the organization, delivering products, goods or services or driving effective customer/client communication.

If you are considering opting for Human Resource Outsourcing to decrease your costs and enhance your efficiency, trust Mynd Solutions. As your company evolves and changes with times, maintaining an effective human resources department that scales in relation to the size of your employee base can become a challenge. Outsource some or all of your Human Resource operation’srequirements to Mynd and spend more time and resources focusing on other important business processes.

Our qualified & experienced professionals, each of whom are dedicated to providing personal, responsive service to both the employer and employees help clients improve efficiencies and save HR costs.

In fact, by leveraging Mynd Solutions expertise and relying on our range of HR outsourcing solutions, many clients discover that they can save 30 percent or more over the cost of maintaining a full staff of people in an in-house human resources department!

Changes in KARNATAKA Shops and Commercial Establishment Compliances

                               INDIA STATUTORY COMPLIANCE NEWS

Karnataka Minimum Wages and revised VDA details for Shops and Commercial Establishment effective from 1st April 2015 to 31st March 2016.

Compliance Adminstration Services

Statutory compliance administration is very crucial today, because the tax and finance world is changing at a rapid pace. Government is continually changing the laws and creating new rules very frequently. Hence, staying updated on constantly changing tax laws and regulations, meeting strict government deadlines, and avoiding costly fines and penalties can be an administrative burden for a company of any size. 

Statutory Compliance Management by Mynd Solutions

Mynd has a strong partner network to ensure that global statutory compliance services are provided in line with the local rules and regulations. We specialize in statutory compliance management and help our clients in complying with the local laws and procedures and maintain regular compliance to prevent any non-compliance issues thereby streamlining business processes that adds up tangible and intangible financial benefits for our clients. Mynd provided a single point of contact for India compliances and also for global compliances.

To ensure that the local requirements are fully compliant, Mynd provides the following:

Mynd Prepares and submits monthly/quarterly/yearly payroll related documents to various government authorities under the required name as per local laws. Wherever applicable, Mynd handles monthly / quarterly / yearly tax computations and prepares relevant statutory reports. Wherever it's applicable, an ESS (Employee Self Service) panel is provided for employee’s tax declaration purpose. Mynd Prepares and communicates year end submission guidelines document after confirmation with Client.

Mynd’s retirement benefits platform provides a one stop solution to our clients, whether they are with the Government run RPFC or they have their own trust. The entire process runs on a PF platform which brings transparency and accountability to the entire process. Mynd helps companies address the need to mitigate pension expense volatility and enhance investment performance by utilizing sophisticated asset allocation, hedging, risk management strategies and every other compliance management aspects. We utilize a strategic approach to help clients manage all aspects of their employee’s retrials benefits.

The spectrum of Compliance Management Services we offer includes:

• Provision of tangible and in-tangible benefits by setting up an in-house Fund to Client’s organization and its employees
• Drafting of trust deed and rules including all legal activities in this regard
• Handling complex activities related to obtaining approvals from Income Tax Department, Provident Fund Office and any other department
• Day to day administration services for Fund including accounting, legal and transaction
• Processing Services with latest automation techniques
• Transparent and IT enabled Help Desk Services for Members

HR Process Outsourcing and Your Organization..

Business Process Outsourcing

HR Outsourcing

HR is a strategic business function in most organizations and hence outsourcing the processes related to it is a task that requires ample thought and decision. There are several concerns that most HR decision-makers normally have with regards to confidentiality of employee information, loss of control over their internal resources and knowledge also the quality of work delivered remains a major concern.

Several organizations in the employee range of 1,000-5000 are outsourcing their Human Resource processes as a cost-control strategy. HR is primarily a non-profitable cost centre in the organization, and hence qualifies itself as the best area to be outsourced to a third party. More and more companies are now subcontracting the backend HR functions including compensation and benefits administration, recruitments, expense management, payroll and statutory compliances.

As per market statistics, HR is one of the most aggressively growing segments in the Business Process Outsourcing (BPO) market. The primary driving factors behind the increasing adoption of HRO (for not just the redundant backend tasks but even for performance management, talent management, training etc.)-

Efficiency Enhancement: Efficiency is undoubtedly a primary driver in the outsourcing business. Mostly, efficiency depends upon the outsourcing service provider’s capability to enable technology additions to the usual HR platforms and processes.

Cost Benefits: Majority of the outsourcing decisions are intended at direct cost benefits to the company. However, one needs to know that solely basing an outsourcing decision on price benefits does not guarantee success.

SMBs and Outsourcing...

There is a general perception among small & medium business owners that third-party outsourcing of business functions such as HR is essential for only large corporate. However, time and again it has been proven that streamlining business operations and cost-control strategies in the form of outsourcing is restricted not just to the large companies but also the SME’s.

Comprehensive Solutions for Every Client 

HR Process Management

 The evolution of outsourcing in destinations such as India, Vietnam and Philippines etc. and the development of high-quality service providers like Mynd Solutions have however driven a change. This change in the thought processes of Small/Medium business owners are driving more outsourcing operations and is primarily attributable to the below reasons:

    Local Payroll-related ccompliance and taxation: Small businesses normally find challenges in this area of business, owing to its strong financial and legal implications. Employee benefits compliance and taxation related laws are the specific areas that require immediate attention and any laxness on the part of the company can lead to major financial losses as well as harm the public reputation of the company. HR outsourcing can be very beneficial in this regard and help to avoid this tricky situation.

    High-end technology access at a relatively affordable price: Small and medium enterprises and/or newly formed companies normally have limited resources for spending on technology and infrastructure etc. In case the backend services are outsourced, the need for companies to own sophisticated and latest technology tools/ skilled manpower are actually eliminated. Hence, the Capex and Opex are decreased for the company.

    A comprehensive solution: SMBs can avail the benefits of a comprehensive HR solution by sub-contracting their entire HR function to a trusted third party vendor. Payroll, Statutory Compliance, Employee Lifecycle management can all be handled under the same service umbrella by the service provider.

HRO Driving Enhanced Business Outcomes…

                     HRO Driving Enhanced Business Outcomes…

With growing intricacies in HR management and shift in management trends, companies are now looking at outsourcing majority of the business function in HR. Contemporary backend processes in HR outsourcing including benefits and compensation administration are now leading the way for much larger assignments wherein the entire HR function may be outsourced to a third party.

Most HR leaders and the senior management teams of organizations have adopted the concept of HR outsourcing. Moreover, every size and kind of company have accepted and realized the credibility and requirement of Human Resources Outsourcing. This service, which was earlier used primarily by large corporate is now of equal significance for small and midsize companies as well.

HR Outsourcing Services

It is an evident fact that HR Outsourcing has gained its share of loyalists not being merely restricted to adopters from large enterprises.

• ·         Better and proactive solutions and resolutions
• ·         Relativelylesser hurdles of administrative tasks
• ·         Strategic counselling and advise to senior leadership
• ·         Improved workforce management

Managing Your Company Payroll_Outsource

Confidentiality of Payroll Data and Process

Inter-organizational confidentiality is maintained well if a third party takes care of the processing of payroll. Using an external agency eradicates the business risks of leaking of confidential salary data through internal employees processing payroll.

 Devote Management Time to Productive Activities

Manual payroll processing is a tedious and unfruitful process. Outsourcing your businesses’ payroll operations enables business leaders and management to focus their attention to beneficial activities like revenue creation & growth along with strategic planning, instead of unproductive administrative tasks like pay calculation or accounting.

 Control Expenditure

The direct expenses incurred towards the process of payroll management are capable of being substantially decreased by taking the support of a payroll vendor.

 Avoiding errors and Tax penalties

Opting for outsourcing services enables preventing errors as well as incorrect or late payments and filings. Majority of the vendors comply by specific KPI’s and thereby are bounded by penalties, hence the entire responsibility for accurate payroll calculation and timely deposition of statutory payments rests with the service provider.

 Ease of Processing

Processing payroll manually is an arduous and wasteful task, which takes up a considerable time both for HR team and the approving management, especially in the case of small and medium enterprises wherein the primary focus should be revenue enhancement rather than backend jobs.

Stay updated with Technology and Statutory Changes

A persistent question that companies processing payroll in-house is often face is that are their systems updated in line with the latest tax changes and if they have a latest version of payroll software. Payroll outsourcing allows companies to breathe a sigh of relief and eases troubles associated with updation. This saves both time and effort for business owners.

Mynd "Global" Platform !

Integrate and Streamline your International Business Operations through Mynd Global Platform...

Mynd offers HRO and F&A services globally, thereby giving clients the advantage of having One Contract for their MULTI-COUNTRY OPERATIONS with One Service Provider. This would further help them achieve the following:

• ¨ Standardization of Processes across All Countries
• ¨ Improve Process Visibility
• ¨ Enhanced Business Agility

 MYND  specialises in providing integrated global outsourcing services with One Contact, One system, One contract worldwide via an internet based ‘Software as a Service’ application to international corporations.

At present, Mynd has service capabilities across the GLOBE. Mynd offers 24*7*365 services in local language through its service centers. Our superior efficiency and performance have helped us position ourselves as strong competitors to international service companies.

 All Mynd applications run on the SaaS platform and help induce standardization and efficiency in processes. The applications are scalable with an automated workflow that is easy to customize and implement. Hence, making these applications highly efficient for any customer situated anywhere across the globe.

 Mynd’s One GLOBAL Contract replaces all your existing contracts, across the world and also offers a single point of contact for customer service.

Mynd is SSAE-16 / ISAE 3402, Type II certified.

ISO 27001: 2005 certified from BSI

Leverage the “Mynd Advantage”:

• Ø GLOBAL Experience and Local Expertise offering LOCAL Best Practices and Proven Implementation Methodology
• Ø Multi-lingual, Multi-currency and Multi Time Zone
• Ø Audit & Control, Access & Capability
• ØReal-timeReporting Options:Standard reports, Query tools, Data Cubes, and Business Analytics

The Varied Needs of Modern Business ....

In today’s economy, it does make sense to have an effective and efficient finance organization. Therefore to achieve high performance in challenging global market, companies are looking for finance and accounts outsourcing to drive their business. On a global scale there should be a deep understanding on how to leverage technology and commitment to drive operational excellence.

There are outsourcing companies with internal teams which focus on core business issues. They work on standardizing the financing and accounting process which transform the finance costs and lower the costs. Most organizations across the world are keen on improving the financial transparency and managing the costs on core business areas.

Since India has a rich pool of talent and substantial cost advantage, it remains one of the most preferred outsourcing destinations. In today’s fast evolving business process, the organizations are increasing to speed up their operations and free up their resources for core business activities. Therefore they need to outsource their non core functions for fixed assets management.

Nowadays the definition of BPO is changing as it is changing their scope as companies are also going for human resource outsourcing. This has accelerated over the years and will continue to do so. Therefore companies entrust all their outsourcing solutions to a single firm so that they concentrate on their core business issues. The work of Human Resource is to develop, retain and train the best people. They are also responsible for compensation, benefits, employee and labor relations, data collection, business partners and other legal issues.

Speaking about employee expense reimbursement, it is the act of compensating someone for the expenses made. Usually a person is reimbursed for out-of-pocket expenses when the expenses are made through an employment while carrying out the duties for third party. Some common examples are firms when they compensate for individuals that buy supplies for the company or compensate the employee that go for out-of-town assignments.