Ive been doing vast research for the last six months for starting a new venture
. The decision to start my own venture was consciously taken after discussing the concept with close and near ones. For it I had to make sure that I have a good financial backing if at all my venture fails to generate me any profits.
After carefully assessing the situation I decided to go ahead with the decision of starting my venture. The area which I choose to enter was to bid work from across the borders and complete it by outsourcing to individuals. The only concern was to bid good amount of work so that we could stack up some profits. I started the venture alone, slowly and steadily increased the workflow as well as the staff. Nine months down the line I had 20 employees working under me. The business grew and so did the demand for commitment and for commitment I had to put pressure on my employees. The pressure could be handled if I they are paid well and on time. The problem with me was I couldnt give their salary on time. It was not coz of lack of cash but due to getting occupied with other works.
Again after three months I got a new project which required around 30 to 40 more staff. I planned to promote some of the old employees and hire new employees at executive levels. It was at that time when I came to know that many of my old employees were unhappy about the delay in salary payment. They requested me to commit that salary would be credited on a specific date. I told them that it wasnt because of lack of funds just coz had to attend some other business matters. Also calculating every person attendance manually was a hectic task and was not feasible to keep updated every day.
They told me to find some solution to this issue and if I had some solution only then they will be continuing their commitment towards work. After some discussion with the employees I decided to invest in some automated software which would handle such work for me. After researching a bit I got Payroll Management Software developed by Panoramic Universal Limited (PUL). This software had all the features that are required for calculating employees salary. After the implementation of this software I could see that all employees were happy and were sure of getting their salaries on time without any issue.
After this implementation I asked my old colleagues to look in to the new project and hand over the other to their juniors. They were happy to get promoted and have started giving their 100% in work. Even the new project was wired down well by them. Thanks to Panoramic Universal Limited software Payroll Management system I made sure that every employee gets their salaries on time without any issues.
Now, Im managing many projects and by Gods grace everything seems to be going just fine.