Union KBC AMC was launched as a joint venture between Union Bank of India and KBC Asset Management NV in 2010.
Even at the start-up phase, Union KBC AMC had a clear goal of ensuring that the statutory adherences and for its employees should be a seamless affair happening regularly with minimal hiccups.The goal of HR department was to focus on putting the team together and be able to contribute to the success of this new venture through constant innovation in human resource processes while maintaining the and statutory adherences as required under the applicable state and central legislations.
Anil Chandran, Head HR and the company’s senior executive team member decided to outsource the paperwork and free themselves from getting bogged down by the innumerable rules and compliances that every state in India has to follow.
In hindsight, it was one of the best business decisions that Union KBC did as a start-up to go with ADP to manage their, statutory and compliances
As a start-up, you know the road ahead would be bumpy and hence you wish to partner with a customer centric vendor - who is aligned to client’s interests and provides reliable expertise. In ADP, Union KBC found itself a partner who could adapt to the various factors governing employee and statutory legislations. Right from the accurate timely payment to an ever changing employee count, to the expanding requirements of Union KBC.
“We found the best partner in ADP and the experts at ADP just proved once again why they are the leaders in the global Payroll market. I never had to expand my team to meet the increasing requirements as we moved from one branch to more than 20 branches in India. So, if I look at the total cost of ownership- it has actually been on the positive side over the last five years”
Union KBC has come to depend on ADP to process monthly, administer the various employee and manage all the complex requirements that a company experiences when it has its workforce spread across 20 different states that follow different compliance and rules for. This was practically viable because of the depth of knowledge and advice on the various domains that was delivered to them by ADP’s dedicated experts and the account management team.
Ever since Union KBC began its relationship with ADP, Anil found the comfort and the much needed time he, as an HR representative wanted to focus on relevant contributions in growing their business through people. While they did outsource the and compliance function to ADP, Anil remains in control and carries out the final data check.
"We are growing fast and as we have different state legislations, we do look forward to valuable advise to ensure that the relevant legislations are adhered to. But, with ADP handling most of my backend HR operations, I can focus on our core work. Over the last five years, with their technology interface, employees have found value in these services especially the Year end activities.”