Integrated HR and payroll platforms have seen enormous improvements over the last few years. Contrary to popular opinion, more than fifty percent of small and medium-sized businesses have switched from handling HR processes manually to fully integrated HR management and payroll solutions. These organizations are not only utilizing these payroll solutions to automate HR and administrative tasks, they’re also benefiting from the competitive advantage that it offers. For instance, HR platforms provide an ecosystem that challenges their internal processes by focusing on employee experience with the goal of improving communication, motivation, and engagement.
Additionally, you may be missing a lot of opportunities if you’re manually handling your HR processes. Manual HR administration is labor-intensive, reduces productivity and affects the overall quality of work. The purpose of this article is to show you the opportunities you may be missing if you’ve been manually handling your HR processes. You will also discover how you can simplify your entire HR processes and improve your employee productivity. If you work with a global recruitment agency they can even help you obtain qualified employees and manage the full HR process.
It is needless to say that increased productivity boosts opportunities for growth. Employees represent key growth drivers within an organization so processes that boost employees’ productivity will also promote business growth. Manual HR handling also affects the quality of work and reports generated from manual reporting are not reliable. For instance, manual HR handling may not accurately automate the latest tax updates from the IRS. However, with payroll solutions, the workload for HR managers is reduced and decision making can be automated without any error. Hence, any important information such as tax, employee overtime, variable pays, and compliance issues that influence remuneration can be automated without errors and can be made transparent in a highly efficient and unified platform.
Manual HR-processes affect your work quality
Manual HR management is usually scattered, and non-transparent. HR payroll softwares enables your employees to have access to critical information such as details of every variable pay, overtime, and taxation and how these are affecting their compensation. Having access to this type of information boosts employee loyalty and trust. Additionally, this creates a culture of happier and more productive employees.
Cost-effective and more profits
Converging lines of evidence have discovered that organizations that utilize employee management solutions see cost savings by 22% per employee.
Also, HR platforms enable you to formalize employee engagement processes. The Aberdeen Group has correlated a relationship between employee engagement and revenue. It was discovered that companies with a formal employee engagement program enjoy up to 26% annual increase in revenue. A correlation was also made between formal employee engagement solutions and customer loyalty. According to the report by the Aberdeen Group, companies with an employee engagement program enjoy up to a 233% increase in customer loyalty. One of the core features of payroll platforms is to offer a seamless employee experience. There’s no way manual HR processes can deliver these organizational benefits in terms of revenue and higher customer loyalty.
Get Everything Organized In a Single Platform
A fully-integrated payroll solution gives you everything to run your business. You do not only get to process employee payrolls, but you also get to file taxes and also handle many robust compliance issues at a click. Additionally, you also get to automate tedious and unproductive tasks such as data recording, leave handling requests, and also manage wages for all employees without having to ask too many questions that could be misleading or even result in errors.
360-degree View of Organization
Payroll solutions give you a means to access comprehensive, historical, real-time business data in one click. Additionally, the visual data provided by payroll software for small business enables managers to make sound and evidence-based decisions. Hence, payroll platforms give you a comprehensive understanding of your business positioning in terms of threats, growth opportunities, threats, and resources you can deploy to boost profits.