The F&B industry has many hourly employees, high turnover, and high frequency of pay. The remuneration items include statutory rights and interests such as holiday pay and sickness allowance, as well as employee benefits such as attendance bonus, transportation allowance, and overtime allowance. Payrun is cumbersome and time-consuming. error prone.
Payrun has always been a pain point faced by the F&B industry because it involves multiple variables and the salary composition is complex. When it is related to attendance and holidays such as attendance bonus and OT Pay, it is necessary to record and check clock-in/out, attendance data and holiday data on a daily basis. Making it even more difficult to do payrun accurately.
This article will discuss how to accurately and quickly manage payroll for the F&B industry, and see the efficient solution provided by Workstem’s one-stop human resources management system!
How is salary typically structured in F&B?
Salary usually consists of basic salary, attendance bonus, transportation allowance, holiday pay, overtime pay and other components. Basic salary is an employee’s fixed income, attendance bonus, transportation allowance, holiday pay, and overtime pay are variable income, and the calculation methods are complex and diverse. Restaurant industry salaryWhat are the pain points in computing?
- Various calculation methods and high complexity
Since employee types include full-time employees and hourly employees, the formulas, proportions, and gradient settings for calculating attendance bonuses, transportation allowances, holiday pay, and overtime pay will also be different.
- The data is complex and accuracy is difficult to guarantee
Attendance bonus, transportation allowances, holiday pay, and overtime pay involve a large amount of data, such as attendance data, holiday data, overtime hours, etc. These data are overwhelming, and their accuracy directly affects the calculation results of salary.
- Calculating manually or using traditional methods is inefficient
Payroll using traditional methods such as manual or Excel will undoubtedly require multiple calculations and checks. If the calculation is incorrect, the form will need to be modified repeatedly, which is time-consuming and labor-intensive. More seriously, it will affect the interests of employees and may lead to unnecessary labor disputes.
Have you also encountered the above problems? How can we manage payroll accurately, efficiently and quickly?
How to manage payroll in F&B?
Let’s take a look at the following F&B industry cases. Workstem will give you an in-depth understanding of payroll in the F&B industry.
This client is a coffee shop. For different departments and different positions, they receive different attendance bonuses, transportation allowances, holiday pay, and overtime pay.
- Customer’s core featured business – Attendance bonus
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Attendance bonus |
The attendance bonus may be deducted from the base of HKD 1,000. The deduction rules are:
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- Customer’s core specialty business –Transportation allowance
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Transportation allowance |
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- Customer’s core featured business – Overtime Pay/ OT Pay
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Overtime Pay/OT Pay |
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- Customer’s core featured business – Holidays and holiday pay
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Holidays and holiday pay |
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The customer needs to calculate the attendance bonus, transportation allowance, holiday pay, and overtime pay that employees working in different departments, different positions, and different stores should receive in the current month according to the above business logic.
If there is only this one position, HR may be able to control such a large-scale payroll calculation, but if there are multiple positions and multiple departments, and the payroll calculation standards are different, it will be a huge workload!
Referring to the above cases,In order to reduce payroll calculation errors and improve work efficiency, coffee shops can summarize some methods to be efficientProduce food. Here are some suggestions:
- To establish clear attendance bonus, transportation allowance, holiday pay, and overtime pay policies
Establishing clear policies can help employees understand attendance bonuses, transportation allowances, holiday pay, and overtime pay calculation methods and standards, and reduce misunderstandings and disputes. Attendance bonus, transportation allowance, holiday pay, and overtime pay policies should include calculation methods, proportions, settlement times, etc., such as the different attendance bonus, transportation allowance, holiday pay, and overtime pay calculation methods mentioned above.
- Have clear calculation formulas for attendance bonus, transportation allowance, holiday pay, and overtime pay
When it is related to attendance bonus and OT Pay, it is necessary to record and check clock-in/out, attendance data and holiday data on a daily basis. The specific circumstances and business requirements of the restaurant industry need to be taken into account when determining the calculation method. Companies should develop clear calculation formulas based on their own circumstances and communicate them to employees to ensure that employees understand their sources of income.
- To use professional tools
A sound data collection and management mechanism is a prerequisite for ensuring accurate payroll calculations. The use of automated tools can greatly improve the accuracy and efficiency of payroll calculations. For example, the Workstem human resources management system can automatically manage attendance and holidays, and instantly record lateness, early departure, absence and other abnormal attendance status.Mobile App application/approval, high efficiency, fast working hours statistics, automatically integrate all data to help the F&B industry automatically calculate attendance bonuses, transportation allowances, holiday pay, and overtime pay, reducing manual errors and saving time.
Great recommendation! Workstem improves payroll efficiency.
Workstem one-stop human resources management system Support automaticObtain the number of remaining annual leave days when an employee resigns, customize the calculation method of annual leave pay, ADW calculation, settlement time, etc., and use the powerful AI calculation engine to calculate according to the annual leave pay calculation formula, and automatically compare salary data , ensure that the calculation of annual leave pay complies with company policies and standards, and pays out efficiently.
In addition to calculating annual leave pay, Workstem HR system can also provides a full range of solutions to help the F&B industry business management of other HR processes, such as Rostering、Attendance、Leave, MPF and tax return management, etc., help the F&B industry can truly realize digital transformation and improve management efficiency and employee satisfaction.
Read More:
How to Efficiently Handle Payroll with Complex Long Service Payment in Retail?
How to Calculate Diverse Bonus Methods for Quick Payroll Processing?
