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HomeNewsRamco Systems in association with Ecosystm unveils study on 'Future of Employee...

Ramco Systems in association with Ecosystm unveils study on ‘Future of Employee Experience’

Uncovers new perspectives on delivering strong employee value propositions

Global enterprise software provider Ramco Systems together with Ecosystm, a Singapore headquartered digital research and advisory company, announced the release of a new eBook, “Can Employee Experience be Seamless in a Global Organisation?” Based on a ‘Future of Employee Experience’ study assessing 89 leading multinational organisations across the Asia Pacific, the eBook discusses its key findings, including insights and best practices on how organisations can support their payroll function to promote financial well-being.

The study found that leading organizations enhance their employee experience through a combination of introducing new HR policies and technology adoption. Promoting financial wellbeing of employees was also a key consideration for organizations. Highlights from the e-book include:

        A list of measures organizations can take to promote financial well-being in the workplace

        Insights on the biggest challenges faced by payroll teams

        The capabilities a payroll system must possess to enable payroll teams in delivering an enhanced employee                    experience

However, organisations must have a seamless and transparent payroll process in place to ensure the financial wellbeing of their employees. Payroll tasks can be automated through AI and chatbots, enabling payroll teams to become strategic partners for employee financial well-being. In addition, chatbots can provide instant and accurate information to employees about their payslip, empowering them and enhancing their financial literacy.

Survey results at a glance:

         81% respondents improved their employee experience through better employee compensation and benefits                 packages

         83% respondents achieved an enhanced level of employee experience through providing self-service/access to             employee apps

         59% respondents introducing financial wellness measures for their employees

Sash Mukherjee, VP Industry Insights, Ecosystm, said, “It is important to look at all functions that contribute to improving employee experience strategically whether it is Finance, HR, Compliance, or Payroll. Organisations must empower these departments with the right AI-driven technologies that can automate their operational tasks and utilise them for strategic decisions on employee attraction and retention. Global organisations should be backed by global systems.”

Rohit Mathur, Head Ramco Global Payroll & HR Solution, Ramco Systems, said, “Improving employee experience has become paramount in achieving business success. Organisations must take a multifaceted approach to enhancing their employee experience, which empowers employees professionally, emotionally and financially. Ramco’s focus on providing automation and transformation features like anomaly & reasoning engine, pro-active chatbots, self-explaining payslip, financial wellness services, and voice-based navigation powered by AI, ML & RPA is not only offering organizations a competitive edge but has also been helping them enhance employee well-being and overall experience.”