5 Features Essential to HR Software
There are a lot of different great features that are associated with using HR software. Each of them will allow you to become more efficient in a certain part of your business. You will also come across a lot of secondary features that are nice to have, but you won’t use them as much as the core ones. By now, most business owners and PR professionals will be aware of just how much time and money proper HR software can save a business. This article looks at 5 features that are absolutely essential to your HR software.
1. Time Tracking
The days of clocking in and out of work are fast becoming extinct. However, a lot of workforces still have to enter their hours manually. This can become especially tricky if you are dealing with variable hours, such as when you are dealing with contractors or people who work on a per-hour basis.
These older types of approaches mean that you will not have accurate data available to you in real time regarding your payroll costs in a given period. While you can estimate, this does not give you an accurate overall picture. The use of time tracking software can save you a lot of hassle in this regard. Your workers will no longer forget to enter their hours in time or be able to attribute hours falsely.
The time tracking software can usually be used on desktop and mobile devices. This means that the time will be tracked when someone is working in real time. Therefore, you will always know exactly how many hours a given worker has put in and your current overall payroll costs for that period. You also want systems that allow your workers to log their time off easily. This means keeping track of their annual, sick, and parental leave. HR teams will be able to approve or deny time-off requests as needed quickly and workers can quickly see their exact entitlements.
Best Human Resources Software
Advanced analytics to track KPIs & impact
Automates onboarding, payroll & reporting 
Real-time employee tracking
Business operations one stop-shop 
24/7 support from HR experts
Seamless benefits & integrations 2. Onboarding
Finding the right talent is one of the most difficult aspects of running a business. The process of getting the right person for the job can be tough. Once you have made a hire, there is then the onboarding process that has to be considered. In the past, this could be a very lengthy process. You would have to provide separate access to all the different programs your business uses. There would be different types of training necessary and contracts to be signed.
HR software clears up a lot of this process. New hires can now electronically sign documents, complete training online, and receive all of their access through a single password. You can reduce the time it normally takes for a new worker to get up to speed by deploying helpful HR software.
3. Payroll
Another major headache for business owners is ensuring that payroll is completed on time and accurately. The last thing you want is to be dealing with a disgruntled base of employees who didn’t receive what they should have or get their funds on time. If you are doing a lot of the payroll work manually, this can lead to human error and often have knock-on consequences.
Utilizing payroll software can save you a lot of hassle in this regard. The process can be integrated with time tracking tools to make sure that people are getting paid exactly what they are due. You can also have workers update their deposit information and tax forms to ensure that all info is up to date without needing to use any sort of middleman.
Most leading forms of HR software also make sure that you are tax compliant with your payroll. This is especially useful if you deal with workers in numerous states, as each region will have its specific tax requirements. The software will be able to keep track of these different jurisdictions and apply the correct rates at all times. This takes a lot of stress off your hands as you do not have to be constantly watching out for changes in different regions.
4. Reports
Data is extremely important when it comes to developing accurate reports that can be used to improve the operations of a business. Most HR software allows you to store up-to-date information about your employees securely. This can be easily accessed and turned into meaningful reports. You will normally be able to customize the information that you are seeing, making it specific to your individual needs.
You can spot trends that you might have otherwise missed. This can help to make your operations more efficient, cut costs, and to drive profitability across the board. You can spot potential bottlenecks sometimes before they start to cause problems. Extensive reporting allows you to really stay on top of everything when it comes to your HR needs.
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5. Employee Self-Service
It is important that HR software allows your employees to access their accounts. This means they can manage their time off, see how many manual days they have, and update key information. They will also be able to access relevant documents they might need for certain activities, such as proof of employment and tax forms.
They can access their pay stubs and check the status of their next pay packet. Benefits management can also be maintained through self-service and workers can undergo training completely through the online environment. This gives plenty of control to workers when it comes to managing their employees.
Conclusion
There is no doubt that HR software has changed the way that people do business. It has tidied up a lot of the cumbersome processes that HR professionals had to deal with over the years. Some of the key features of HR software have had a particularly large impact and can benefit your business if you are not already using them. There are many great providers of HR software on the market today. Reading expert reviews can be a great way to find one that fits your specific needs quickly.
