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HR Audit

Identify Improvement Areas & Set Standards for Industries

The goal of HR audits is the independent and objective evaluation of the efficiency and quality of a company´s HR management, including its compliance with the legal requirements of employment. Farsight IT Solutions, leading hr audit service provider in India offers HR Auditing Services to customers who require a partner service provider’s un-biased observations of the HR processes.

Objective of HR Audits:-

  • Is organization gaining the most benefit from its HR activities?
  • Are those activities aligned with organizational strategy and objectives (HR compliance)?
  • How effective, efficient and economical are those activities?
  • Are organization’s hr policies, processes & practices compliant with statutory laws?

The standard service in Farsight audit of human resources management system:-

  • Verification of Master Data with Personal File or any other excel sheet.
  • Verification of Joining date / Confirmation date.
  • Verification of salary data with accounts with respect to net amounts paid, IT, statutory laws (CTC / salary based reimbursements).
  • Sample checking of verifying proof of investments
  • Verifying leave records with Leave Register / Access machine reports. Reporting structures / authorizing manager
  • Check transfers with respect to historical HR data entered, dates etc
  • Check resigned employees and the Full & Final procedure processes, computations (e.g. If Leave encashment has been given as per policy, Gratuity or other retrial benefits given as per law / policy etc.)
  • Verify Organizational Structure and make changes accordingly
  • Verify Employee Manual and suggest alterations
  • Verify Job profiles and suggest alterations
  • Proper audit of all statutory regulations – PF / ESIC / PT / Labour Laws/ Income Tax / e-TDS, Etc.
  • Performance Appraisal methods and suggestions

Benefits of Farsight HR Audit Services:-

  • SWOT (Strength, Weakness, Opportunities, Threats) analysis of HRM including a proposal for improvement measures
  • Feedback on quality of implemented HR processes as compared with industry best practices
  • Reduction of cost associated with risk of non-compliance with legal regulations
  • Verification of compliance with human resources management procedures
  • Evaluation of effectiveness of change management tools
  • Verification of tax optimization for payments provided to employees in terms of income tax and social security and health insurance contributions
  • HR metrics (Key performance indicators) for benchmarking current quality and efficiency of HR processes as compared with industry best practices

Farsight adopts continual improvement approach in human resource audit services:-

Systematic process of identifying gaps in functional or organizational performance through identification of base lines and industry benchmarks with respect to various HR process.

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