Accounting and ERP systems will help you manage your physical assets while managing your finances. But what about your human assets or employees? Human resource information systems (HRIS) not only include payroll, they also include functionality to manage an employee from hire to retire. Actually, even before hiring them, you need to track who has applied for positions, create an application repository and gather statistical data for EEOC.
Having a solution that helps you manage your human resources functions can not only help you save money, but help you retain and get the most out of your human resources.
Human resource management system (HRMS), human resource information system (HRIS), or simply HR software are really all synonyms. Each term refers to software providing you the ability to manage your organization’s human capital.
Whether you have three employees or thousands of employees, you can benefit from a human resource software solution. HRIS systems are utilized in companies in every industry.
Here is a sampling of functionality available in a typical enterprise HR software system:
Recruiting. Track your recruiting and hiring processes. Track where you are advertising the employment ads, applications received from each ad, hiring events, etc.
Applications. Track the applications received and organize applications to understand which are the best fit and which are not going to be pursued. Gather necessary EEOC reporting information.
Onboarding. Create an offer letter to present to the applicant. Gather and organize necessary certifications. Track results of drug tests, schedule and track trainings (internal and external). Gather and required tax information.
Active Employee. Tracking of employee records including performance reviews, time and attendance, vacation/sick/personal time, benefits (health, dental, 401k, etc), and scheduling.
Retirement, Resignation, Termination. Track employees, post-employment, including payments to employees for financial plans (401k, stock plan, etc), insurance (COBRA if applicable), and any other documents that may be related.
Time and Attendance. Often times a time and attendance system is integrated with the human resources system. This allows your employees to enter their own start/end times but flows to management for approvals. The resulting data then flows to the payroll staff for processing of payroll. Don’t do the payroll in house? Then the hours are collected allowing you to transmit those hours to the payroll processing company. Additionally, you can track the out office hours within the software.
Employee Self Service. The human resource department always seems to be busy. Whether you have a dedicated department or you are the owner of the business trying to manage HR as well, you know firsthand that tools that can help you are greatly appreciated. An employee self service center allows employees to check their attendance record, see vacation time available and used, and record time off.
There are frequently a few key integration points between payroll and HR software. Deductions need to be calculated, funds withheld for retirement contributions, and pay stubs created and shared with employees. Payroll software packages not only allow you to process payroll. They also manage the information necessary to report back to the IRS and state taxing authorities.
Human resource information systems are designed to streamline your HR processes, consolidate files, and help your company become more efficient. This allows your staff to focus on developing employees, rather than focusing on shuffling paperwork.
If you are at the point where you are ready to find which HR software options are right for you, we can help. Through a brief phone call, our software specialists will look to better understand your business and software needs to help you locate a handful of solutions that can address the issues you are currently experiencing. Get started today!