SG Payroll and HR Glossary

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Partner integrations Partner integrations are when a third-party product seamlessly integrates with a company’s own, using APIs.

Payroll Payroll is a list of a company’s employees and how much they are paid.

Payroll cycle A payroll cycle describes the length of time between payrolls. An employer who processes payroll every month will count each month as a new payroll cycle.

Payroll data Payroll data is information about each staff member working in the business, including payroll, leave and absence, time and attendance. This data can be very useful to spot workforce trends, for example, in productivity and engagement – helping to inform future business strategy.

Payroll engine A payroll engine is the system required to execute and process payroll.

Payroll outsourcing Payroll outsourcing is when a company hires third-party providers to take on all or part of their payroll responsibilities. This decision makes business sense, saving time and money and streamlining productivity. A reputable outsourced payroll provider will use cloud-based software to automate previously manual tasks.

Payroll outsourcing services Payroll outsourcing services are the services provided to a company by third-party experts. These services include running an accurate, compliant payroll, calculating deductions and expenses, and filing any taxes.

Payroll outsourcing solutions Payroll outsourcing solutions are solutions provided by outsourced payroll providers. These include ensuring that a company’s payroll is run smoothly, efficiently and accurately. Plus, with automatic updates on cloud-based outsourced payroll solutions, it becomes easier for a company to meet its compliance obligations.

Payroll processing Payroll processing is running an accurate payroll. In other words, paying employees according to their level, wages, and deductions. Payroll must be processed in time with the company’s pay schedule, while also keeping up to date with all relevant compliance regulations.

Payroll services Payroll services are those services delivered by a third-party payroll provider. They include processing payroll calculations, tax statements and year-end statements. A payroll service provider can help a business meet their filing requirements, while using cloud-based software to automate and streamline operations.

Payroll software Payroll software helps businesses to organise and automate staff payments. The software, often cloud-based, tracks all payments while keeping accurate payment records. It can also be used by business leaders to monitor workforce behaviour such as time and attendance, productivity and engagement, providing insightful data to help underpin decisions.

Payroll solutions Payroll solutions are often delivered via software which automates, manages and organises previously manual payroll and HR activities. These could include paying staff wages, calculating the correct deductions and paying taxes on time. The software can also integrate with other HR systems, such as monitoring time and attendance.

Payroll year end Payroll year end is the process of submitting your IR8A report to IRAS for the previous tax year, which ends on 31 December. As part of reporting the final numbers, the employer should prepare and submit the employees income earned for the previous year to IRAS electronically by 1st of March The employee/individual will be required to submit his/her own personal income tax filing by 15th/18th April.

Pay slip A document provided to employees to ensure they receive the correct pay and entitlements and help employers to keep accurate and complete records.

PDPA

The Personal Data Protection Act (PDPA) provides a baseline standard of protection for personal data in Singapore. It complements sector-specific legislative and regulatory frameworks such as the Banking Act and Insurance Act.

It comprises various requirements governing the collection, use, disclosure and care of personal data in Singapore.

Pension A pension scheme is a long-term saving plan for retirement that employees pay into while working. Pension schemes often have favourable tax treatment compared to other forms of saving. With a workplace pension, a percentage of your monthly pay is put towards the pension scheme and your employer must by law add money for you.

People management People management describes the business function of looking after a company’s workers. A people management system contains one system of record with all workforce information – including details such as salary, skills, contracts, leave and absence – securely housed there.

Performance appraisal Performance appraisals are reviews held by a manager one-to-one with an employee. They help employers to recognise and reward workers fairly, allowing workers to understand what they contribute to their organisation and where they can improve.

Performance objectives Employee performance objectives are goals and targets agreed between employee and employer. They’re designed to be ‘SMART’ – specific, measurable, achievable, relevant and time-bound. Once agreed, they can be used to prioritise work, assess progress and ensure staff are performing as expected.

Professional services Professional service providers have specialised knowledge in areas such as marketing, accounting or law. They will provide that support to a wide range of businesses.