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 having to clock in and clock out of work are fast becoming extinct. However, a lot of workforces still have to manually enter their hours. 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 are not going to have accurate data available to you in real-time with regard to your payroll costs in a given period. While you can do estimates, this does not really 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 falsely attribute hours.
The time tracking software can be used on both desktop and mobile devices usually. This means that when someone is working, the time will be tracked in real-time. Therefore, you will always know exactly how many hours a given worker has put in and what your current overall payroll costs for that period will be. You also want to have systems that will allow your workers to easily log their time off. This means keeping track of their annual leave, sick leave, and parental leave. HR teams will be able to quickly approve or deny time-off requests as needed and workers can quickly see their exact entitlements.
One of the most difficult aspects of running a business is finding the right talent. 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 of the different programs that 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 cut down on the time that it normally takes for a new worker to get up to speed by deploying helpful HR software.
Another major headache for business owners is making sure that payroll is completed on time and in an accurate fashion. The last thing you want is to be dealing with a disgruntled base of employees who didn’t receive what they should have or getting 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 own deposit information and tax forms to make sure 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 are dealing with workers in numerous states, as each region will have its own 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.
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 securely store up-to-date information about your employees. 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.
5. Employee Self-Service
It is important that HR software allows your employees to access their accounts. This means that 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 that 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 also undergo training completely through the online environment. This gives plenty of control to workers when it comes to managing their employees.
There is no doubting 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 be of big benefit to 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 quickly find one that completely fits your specific needs.