Rural Funds Management
How EI Improved Efficiencies And Compliance For A Decentralised Funds Management Company By Managing Its Complex HR and Payroll Requirements
When one of the oldest agricultural funds management organisations in Australia needed a highly complex payroll moved to an outsourced provider while also looking to gain HR efficiencies, they contacted EI for help.
INDUSTRY
Funds Management
SOLUTION
Outsourced Payroll
Employment Hero
YEAR JOINED
2017
โThe system is more flexible and accurate than others on the market and our payroll partner is always responsive. Overall Employment Innovations offers a very efficient service for our businessโ
BACKGROUND
Rural Funds Management (RFM) is one of the oldest and most experienced agricultural funds management organisations in Australia. As a 22 year old decentralised organisation, RFM has over 160 staff throughout Australia employed under 5 different entities and under multiple Awards and employment types. Realising in 2017 that they required a best-practise HR software solution to compliantly manage employees lifecycle, Employment Hero and Outsourced Payroll was implemented, replacing the incumbent managed payroll solution due to both software solutions being able to seamlessly managing the HR and Payroll requirements of the organisation.
CHALLENGE
Due to their size and structure RFM has a highly complex payroll requirement which required multiple layers of validation and compliance checks before processing. While a new HR platform was key and the flexibility and accuracy of KeyPay was clear, a proven ability to onboard and process a large and complex payroll was required before RFM was prepared to engage EI for both managed services.
SOLUTION
Employment Hero was immediately integrated providing the HR platform that RFM required to compliantly onboard staff, manage contracts and policies along with employee conditions across the Australian team. The payroll team then worked with Kristina to build a flexible payroll processing model that provided more accuracy and deeper reporting than what was currently in place. A dedicated payroll partner was assigned to RFM and an option of parallel processing was offered for the initial pay run to provide assurance on processing accuracy.
RESULT
Kristina now has in place a flexible payroll process that works inline with her team as they manage the complexity of pay conditions across multiple employing entities. With HR software managing the onboarding and employee lifecycle, her team can operate more efficiently and with the confidence of HR compliance.
MAKING EMPLOYMENT EASIER BY COMBINING HR, LEGAL & PAYROLL SERVICES WITH TECHNOLOGY