Maintaining good talents is key to a successful SME as they bring innovation, dedication, and drive for results with open communication, fresh perspective, and focused efforts. Motivated and dedicated employees lead to greater employee engagement which in turn can provide for greater revenue and profitability opportunities. But with so many companies vying for top talents, how can you ensure that your A-players choose to stay on your team? The answer lies in creating a work environment that fosters stability and innovation to create a sense of loyalty and satisfaction. When employees feel valued and appreciated, they are more likely to go the extra mile, contributing to a thriving and productive business.
A company with a solid brand reputation and shared values will be chosen by top-tier employees. On top of the usual offer for good remunerations and benefits, a company with shared sustainable and ethical values is also a top factor in retaining employees. A reputable, stable and innovative company reputation can entice and retain good employees. This can be done by getting one’s house in order – with streamlined and optimised business operations.
Streamlining business operations can optimise non-core business tasks and allows employees to work on other crucial tasks. A study McKinsey concluded that 74% of SMEs spend their time on non-core business activities. However, leveraging existing 3rd party apps for the automatic reconciliation of bookkeeping with your bank accounts eliminates the manual process, minimises human errors and ensures data accuracy. Maybank offers these solutions by partnering with Autocount, Bukku, and SQL to streamline invoicing and bookkeeping.
Streamlining the payroll process can be daunting for SMEs. The complexities of managing and tracking employee hours including overtime payments, meeting tax and other regulations and compliance obligations can be overwhelming. However, streamlining the payroll process is highly crucial to business and to retain employees. Optimising payroll processes for SMEs can save time and reduce errors by producing accurate and efficient payroll. Maybank Work+ offers payroll solutions – salary crediting and bulk payments through Maybank2E and Maybank2uBiz to help assist the customers to provide seamless and fuss-free digital solutions for its employees to maximise their business gains.
Maybank Work+ goes beyond than just simplifying and streamlining the SMEs’ payroll tasks. Maybank Work+ also offers preferential rates Maybank’s slew of offerings to its employees, including loans, credit cards and wealth management solutions. Maybank supports SMEs by extending assistance by supporting the employees’ financial health and aspirations, fostering loyalty and appreciation to the employers.
Maybank Work+ streamlines HR processes and empowers SME employees financially with less paperwork and automated processes, which leads to greater sustainability for the company; with happier and motivated staff that can translate to lower turnover. With Maybank Work+, SMEs can focus on what truly matters - growing the business and revenue opportunities.
Maybank Work+ is immediately available to SMEs with existing Maybank2uBiz Bulk Payment or M2E Payroll features performing to at least 20 employees or more with Maybank accounts or perform monthly salary crediting to Maybank accounts of RM20,000 or more.
To get on board to streamline your payroll operations, please go to: https://www.maybank2u.com.my/maybank2u/malaysia/en/business/sme/promotions/payroll.page to create a stable, reputable and secure workforce for your SMEs to retain highly engaged, productive, and innovative team members.