Payroll risk management strategies for Malaysian businesses
Managing payroll effectively is a cornerstone of any organisation’s success. In Malaysia, businesses face unique challenges when it comes to payroll risk management, including compliance with local labour laws and navigating the complexities of multinational operations. Efficient payroll management is not just about ensuring that employees are paid on time; it’s about safeguarding the business […]
Payroll reconciliation in Malaysia
What’s payroll reconciliation? Simply put, it’s the process of matching and verifying payroll records against financial transactions or accounts to ensure accuracy and compliance. This is a crucial step that confirms that all payments have been correctly calculated, withheld, and disbursed according to the payroll records. And what does effective payroll reconciliation do? It helps […]
Payroll outsourcing in Malaysia
In the competitive landscape of Malaysian business, payroll outsourcing is a critical strategy for enhancing operational efficiency and compliance. This approach involves delegating payroll management tasks to specialised service providers, so that companies can focus on the most important aspect of operations: core business objectives. For many Malaysian businesses, outsourcing payroll is a must, considering […]
Ensuring compliant payroll in Malaysia: Laws and best practices
Understanding payroll compliance in Malaysia is the foundation upon which businesses maintain credibility and regulatory adherence. So, what exactly is payroll compliance? Payroll compliance is adherence to the laws and regulations governing payroll systems, ensuring that employees are paid correctly, taxes are calculated appropriately, and all statutory deductions are made. Impediments to payroll compliance can […]
Minimum wage regulations in Malaysia
Malaysia’s minimum wage framework plays a crucial role in safeguarding employees’ rights and ensuring fair compensation across various sectors. This legislation lays down the groundwork for equitable earnings while mitigating underpayment risks and promoting an upward mobility culture within the workforce. Recognising the dynamic economic landscape, Malaysia periodically revises its minimum wage rates to reflect […]
Understanding maternity leave in Malaysia
Maternity leave in Malaysia is a crucial aspect of employment rights, offering a necessary support system for expectant mothers and ensuring their well-being during and post-pregnancy. Understanding maternity leave entitlements not only helps employees prepare for the leave of absence, but also empowers employers to uphold best practices in compliance and employee care. Recognised as […]
A guide to Malaysia’s labour laws
Compliance with labour laws in Malaysia is not just a legal obligation but a strategic advantage. Understanding the breadth of these regulations ensures that businesses operate smoothly, avoiding penalties and fostering a fair and productive workplace environment. These laws form the backbone of employment practices, dictating how employees should be treated and what employers can […]
Employee retention strategies: How to keep your top talent
Employee retention is a critical component of a business strategy – no company wants to lose its best people! Retaining top talent ensures that a company maintains a competitive edge by leveraging the skills and experience of seasoned employees. While high turnover rates can be detrimental, disrupting team dynamics and causing knowledge loss, ultimately affecting […]
Digital economy can drive GDP growth: Harsha Purasinghe
Digitalisation has been used as a metric to measure Sri Lanka’s futuristic development. In fact, Sri Lanka’s Government has made digitalisation a national priority, with plans for Sri Lanka to undergo a comprehensive digital transformation within the next three years. With a National Digital Strategy in place for 2030 to improve the country’s economic competitiveness, […]
‘Meet the Tech Titans’ features MiHCM CEO Harsha Purasinghe
The pandemic disrupted traditional ways of working but also fast-tracked digital transformation worldwide. MiHCM CEO Harsha Purasinghe shares insights into how MiHCM navigated this shift and helped businesses embrace the future of work, in this exclusive conversation with Shaq on the ‘Meet the Tech Titans’ podcast series by PodHUB Sri Lanka featuring influential voices in […]
