Many businesses, particularly small and medium-sized ones, purchase their first HRMS in order to become paperless in the HR department. HR technology is still built on the basis of electronic personnel records.
According to Sommer, the payroll module is one of the most important features. There isn’t one in many Virtual HR Solutions. Depending on the sort of integration with third-party payroll providers, the next question to ask is: It may be necessary to outsource some of an HRMS’s payroll function to pay workers in other countries, for example.
For freelancers and contractors, Sommer urged companies to ensure that their HR systems are able to handle contingent workers like freelancers and contractors, providing accurate headcounts without the need for additional software and providing them with the same security IDs and other tools that full-time employees receive.
According to Jones, ERP financial integration is critical. For example, it may help determine whether to recruit two part-time employees or one full-time employee for a certain position, or the most cost-effective method to use a worldwide workforce 24 hours a day, seven days a week.
1 – Helps in Administration:
Management of conventional benefits including health, dental, life and disability insurance; retirement plans; tuition reimbursement; and tax-advantaged flexible spending accounts is a key HR duty.
Cloud-based services have begun taking over certain tasks from on-premises systems. Online access to healthcare professionals, medical advice, and fitness groups is now available through new health insurance systems and wellness portals. Health and wellness platforms should be integrated with financials so that you can handle the tax and compliance consequences of health benefits more simply.
2 – Payroll Generator:
If you’re using an outside provider, make sure your payroll module has the following features:
An ERP system that is integrated with core financials to keep accounting records up to date with the most recent pay stubs, as well as support for every nation in which the firm conducts business via a number of payroll providers
3 – Onboarding Procedure:
The first day of an employee’s new job may have a significant impact on how long they remain with the company. When it comes to non-HR software integration, “the key question is: Will the software function with all of that?” According to what Sommer has to say.
An assortment of procedures must be coordinated by HR specialists in order to onboard an employee, from the issue of a badge and laptop to the ordering of uniforms and scheduling of orientation. An onboarding module that connects with the IT, time clock, and other systems required to set up a new employee is essential for coordinating these stages.
According to Ben Eubanks, chief research officer of Lighthouse Research & Advisory, offboarding is basically the mirror image of onboarding, with the procedures done in reverse order.
Gallup reports that only 12% of employees feel their company does a good job of onboarding new employees. But you don’t have to give up if you find the task challenging. With this onboarding checklist, we’ve streamlined your process for bringing new people on board.
4 – Compliance:
From fair labour practises to anti-discrimination legislation and workplace safety, HR departments are responsible for maintaining a firm in compliance. Having a wide range of tools to monitor and prepare documentation for local, state, and national governments is critical for HRMS software.