Axiomatic Newsletter July 2024 by Axiomatic_Payroll

July 2024

New Report Fields –Bank Account owner & Payment Method

This enhancement is the result of requests we received through the Ideas Portal. Based on these requests, we’ve enhanced our standard reports by incorporating the following additional report fields:

1. Bank Account Owner

2. Payment Method

Users can now report on these fields using any report that has the “additional report fields” section.

Tax Profile – Employee leave transactions notification

We’ve further enhanced the Tax Profile screen to alert users with an on-screen pop-up when terminating an employee with pending or approved leave transactions with dates that fall on or after the selected termination date. Below is an example of the on-screen pop-up:

This enhancement aims to reduce processing errors by assisting users in identifying outstanding leave balances and ensuring employees receive fair compensation for their remaining leave entitlements upon termination.

Important to note:

 The notification only applies to terminations captured on the Tax Profile screen and not on Bulk Actions.

 The notification applies to all leave types.

Legislation updates for July 2024

Kenya Social Health Insurance delayed to October 2024

Kenya Tax reliefs on AHL and post retirement medical insurance set to be available in P10 returns

• Affordable Housing relief of 15% of the Housing levy employee deduction up to 9000 pm.

• PRMF relief of 15% of employee contribution up to 5000 pm.

Kenya Finance Bill 2024 Withdrawn

Zimbabwe NSSA Ceiling Increased for June to August

Increased from USD 369 to USD 700

Namibia still awaiting a gazette

News articles indicate this might only happen in October

EARNED WAGE ACCESS

(EWA)

EWA is a technology that integrates with the payroll system enabling employees to access a portion of their already earned salary at any point during the pay cycle.

Growing popularity in the US, UK, Singapore, and Indonesia.

What’s in it for the employer?

NO Cost NO MORE Advances

Adds to EVP at NO COST

Assists staff retention

of surveyed workers would be willing to work longer for an employer offering EWA.

of surveyed workers are more willing to switch to employers already offering EWA.

Employer retains control & sets

• % of salary that can be accessed during the month.

• Amount of the minimum and maximum loan application

• Number of loan applications permissible during the month

• The period that the “window” for loans is open.

Spending Data

SA companies already introduced

PnA, Sasol, Amrod, Bidvest, Smollan, Truworths Group, Sage, Switch Telecom, City Lodge, Sea Harvest, Total Energy, Macsteel, Continental Tires, Spar, Steers…

How does EWA work?

• The employee applies to Tyme Bank via an app, to open a bank account.

• Apply for the loan on the app.

• An API checks the payroll data.

• The loan is credited to the employee’s Tyme Bank account.

• The loan is deducted on payday.

• No cost to the employer but the employer can set parameters:

o Minimum R2k and maximum R5k per application.

o Total amount to be accessed during the monthno more than x% of salary earned to date.

• Charge = R30 per application.

• Employee does not have to change their salary bank account to Tyme Bank.

Our transport system is cashbased and this constitutes employees borrowing taxi fare to get to work.

Transporta tion

Hello to Say

Axio Package Calculators

NO access to an actual payroll platform, NO internet, NO security permissions are needed. Much more

Ensures ease of use across all industries, 44 African Countries, and their currencies. An Excel-based tool that: 2 Easily generate customized dummy payslips to supplement offer letters for new employees. Simplify the Hiring Process: 1

Onboarding new employees, offer letters, gross-ups, and net pay calculations can be frustrating.

This is why we design customized dummy payslip generators that are completely tailored for all your Remuneration calculation conditions.

As an Excel tool, it is created specifically with all your possible input criteria:

• Aesthetics

• Calculations

• Forecast Increases TIRED OF GENERIC, INFLEXIBLE DUMMY PAYSLIP GENERATORS?

• HR & Org data

• Gross-ups

• Conditions

• Remuneration structures

Payroll Integration using API’s

In the past, payroll was seen as stagnant, relying on outdated methods and manual processes. However, recent technological advancements have transformed payroll into a strategic asset, offering valuable data insights.

Axiomatic specializes in integrating payroll systems with APIs, leveraging middleware to ensure seamless data exchange.

This integration enhances efficiency, improves the Employee Value Proposition, and maintains data accuracy and security.

For tailored, efficient, and secure

Payroll Integration

Solutions

With a custom user interface and strong audit controls, Axiomatic ensures a balance between tradition and efficiency.

Full system specification available on request.

This powerful payroll functionality combined with pivotal middleware enables companies of all sizes to overcome data silos by creating powerful Applications, Data, and API integration on-premise and in the Cloud, from a single interface.

Axiomatic recognizes that a significant amount of our new business is referred to us by our current clients.

We appreciate these “word of mouth” referrals and want to recognize and reward clients making referrals by introducing our new referral program

STEP 1

Identify a company looking for a professional and expert payroll provider.

STEP 2

Simply, send an email to your Axiomatic contact, detailing the name of the company, the contact person, and the contact.

No. of employees referred

to 1,000

to 2,500

2,501 and above

Important information

STEP 3

Axiomatic will make contact. If the prospect signs with Axiomatic, you will receive a Takealot voucher for the amount detailed below

1. It would be helpful if the contact person is aware that Axiomatic will be contacting them. This increases your chances of receiving the referral reward.

2. Axiomatic will follow up on every lead you provide.

3. Once the new company has signed our Proposal, we will notify you that your reward voucher is due.

4. Once the new company’s payroll goes live, you will receive your voucher within 30 days.

Emerging Markets Payroll (EMP) is a payroll alliance of three specialist Regional Payroll Providers that collectively offer comprehensive payroll support for 80 countries in emerging markets across Africa, Asia Pacific, and Latin America.

Our alliance partners are:

Links International – the company was established in 1999 and provides services across the Asia Pacific region in 20 countries.

At EMP, our team of 320+ is committed to streamlining and simplifying your payroll processes in emerging markets using secure cloud-based technology. Further, EMP’s ability to integrate with leading HCMs including Workday, SuccessFactors, and Oracle HCM will ensure a seamless journey for your business.

Payroll Worldwide – the company was established in 2007 and provides coverage in Latin America in 14 countries. Looking for a payroll provider who

Passionate delivery of services to meet every client need

Making a Difference Growing Your Business With Modern Ideas

Axiomatic Consultants –An independent company with a clear focus

that specializes in furnishing a diverse range of services relating to:

African Payroll Employee Benefits Strategic Remuneration Consulting Strategy Consulting

– ensuring that the advice is integrated and cohesive within the overall business of the client. Special expertise has been developed relating to international factors affecting companies that operate on a global scale.

The company's strategic objective is to provide a world-class, value-added service where every effort is made to customize solutions to address specific needs while simultaneously ensuring that such solutions are compatible with and complement the client’s goals, strategy, and business objectives. Every effort is made to ensure that our offering is progressive, innovative, and designed to give the client a competitive advantage in their respective industry.

Consistent with our approach to solving our client’s problems, AxioPay (Pty) Limited, was formed to ameliorate the myriad difficulties experienced when running a payroll in multiple African countries.

Impactful benefits from health cover, savings, life cover, disability cover, dreaded disease cover, spouse cover, funeral insurance that promote employee engagement through communication and financial wellness.

At Axiomatic Reward, we assist organizations to develop or improve, enhance, and drive their Reward Strategy by providing the right tools to ensure a coherent, consistent, and competitive Reward Structure.

ESS NOW ON WHATS APP

Hi, I’m Pacey, your employee self-service bot.

I can help you with payroll + HR requests

• Historical payslips: PDF / text format

• Apply for leave

• Approve inbox items

1 Easy & Secure Registration

• View current leave balance

• View personal information

1. Register using employee's national identification (ID) number. 2. Pacey will check that their mobile number and identification number matches their profile on PaySpace to verify them.

2 Interactive Messages

Pacey uses interactive messages which gives users a simpler and more consistent way to select the options available to them.

achieve significantly higher response rates compared to text-based lists

Pricing & Edition requirements

• Companies using Pacey must be on the Premier / Master Edition as this is a self-service feature.

• The license fee will be charged per active employee, which will provide each employee with a predefined number of conversations per calendar month.

• The pricing structure allows customers to choose from 5, 10, 20, or 30 conversations per employee, per calendar month.

Pacey will be licensed as an additional service as explained below. How can I help you today?

• Employees will be limited to the number of conversations the company chooses. Every time an employee starts a new conversation with Pacey, they will be notified of how many conversations they have remaining for the calendar month.

• The Pacey contact number will be shared with customers upon purchasing this module including a QR code that makes it easy for an employee to scan and save the contact.

What’s going to happen to my family’s medical benefits?

As you are no doubt aware, President Cyril Ramaphosa signed the National Health Insurance (NHI) Bill into law on Wednesday 15 May 2024. The NHI Bill is now an Act. Universal health care for all South Africans is an ideal solution and one we can all aspire to. However, concerns have been expressed with elements of the NHI in its current format and one can expect it to be challenged in various courts.

What This Means for Employees

Employees are understandably anxious about how this will affect their future healthcare. Our goal is to provide clear and factual information amidst the ongoing debate.

1. Effective Date and Regulations: Although the Act has been passed, its effective date is not yet determined. The provisions of the Act will need to be enabled through detailed regulations. Discussions and calculations regarding the cost of implementation will continue over the next few months and possibly years. Given South Africa's economic challenges, including low growth, high inflation, high unemployment, and a narrow tax base, funding the NHI will be a significant hurdle.

2. Impact on Medical Aid Cover: Importantly, employees' medical aid cover and benefits will not change for a considerable amount of time. According to Adrian Gore, Chief Executive of Discovery, “We believe it will take a long time — a decade at least — to achieve ‘full implementation’, given the scale and complexity of reforms needed.” The minimum level of benefits covered by the NHI will be determined in the future, at which point we can assess what additional benefits medical aids can offer. Why do we say this? According to Section 33 of the Act, once NHI is fully implemented, medical schemes will only cover services not included in the NHI.

3. Implementation Timeline: Minister of Health Joe Phaahla stated that the institution overseeing the NHI will be established between now and 2026. The provincial rollout is expected to occur between 2026 and 2028. We have highlighted above that full implementation will take a significant amount of time because of the complexities of such an enormous initiative and the significant number of legal challenges that will occur. Until such time, employee’s medical aid benefits and access to private health care will remain unchanged.

Food for Fought

To administer the NHI fund effectively for 60 million beneficiaries, it is estimated that approximately 85,000 employees will be needed. This substantial workforce is crucial to ensure efficient operation and management, comparable to the current standards of private-sector medical aid administrators.