Processing payroll internally is a headache for many organizations. But it doesn’t have to be! Business owners can outsource the process to experienced payroll providers or HR firms and reclaim their internal resources for other critical tasks.
Considering making the shift for your organization? Here’s what you need to know about outsourcing payroll with HRIS tech and how you can benefit by implementing software to automate your payroll and HR needs.
Outsourced Payroll Solutions
Most third-party payroll support options manage all the basics, like running payroll, filing taxes, and keeping meticulous records. But, in some cases, they can also provide workforce management software, validate your employees’ time, and improve your overall employee experience. Here’s a list of additional tools businesses can access when outsourcing to a payroll provider.
Workforce Management Software
The workforce is becoming more diverse beyond different schedules, shifts, and exemptions. As a result, tracking attendance and workforce planning are critical to your success. Workforce Management software allows employers to get data insights on time and attendance to run their business more efficiently. You can create schedules, track time and labor, and manage PTO requests in one place.
In addition, streamlined communication automatically notifies employees of missed punches to reduce payroll errors. Employees can also view PTO balances and request time off, which managers can approve or deny from any device.These tools can help eliminate unplanned labor costs, minimize compliance risks, and deliver a more modern and connected experience for managers and employees.
Talent Management Software
Talent management systems help companies get top candidates in the door and on the path to success. New hire onboarding best practices; fair pay; diversity, equity, and inclusion; employee development; work evaluation; and empowering performance management are just the beginning of driving job satisfaction and improving employee retention.
Recruiting and Onboarding
By modernizing the experience with HRIS tech, you can conveniently reach candidates wherever they are – even communicating with them via text message and video recruiting platforms – and instantly track conversations right within the same platform. As a result, businesses can save time during the recruitment process and attract younger generations.
Then, you can utilize HRIS to help new hires feel connected from the start with innovative onboarding process steps. This can include digital data collection, welcome notes from leaders, new hire orientations, company culture information, and team pictures and bios.
Performance Management & Reviews
Employee performance is at the heart of talent management, and manual tracking of performance reviews in disconnected systems can result in errors and data loss. HRIS Performance Management tools enable transparent, two-way communication with performance reviews, allowing you and your teams to have ongoing conversations that fuel their development and level up their careers.
Compensation Management
Many factors go into job satisfaction, including a fair compensation plan. Compensation Management tools reward your employees while keeping your organization’s bottom line top-of-mind. Allocate budgets that align with business goals and work with supervisors to make decisions together on pay. These tools give you the compensation analysis and insights you need to pay your employees fairly and accurately.
Learning Management System (LMS) & Employee Training
Employees seeking development want access to workforce development tools that grow their careers and fit their different learning styles. With Learning Management Systems (LMS), managers can easily assign courses tailored to training on new skills, policies, products, and more. Subject matter experts can even create trainings and share their knowledge.
These systems are for more than just employees looking to grow. They’re perfect for new hire training too! Companies can upload their training material to the LMS. Assigned videos allow employees to find and track progress and completion seamlessly, automating the complete training process.
Human Resources Software
As the role of HR continues to expand, HR teams need to bridge the gaps across their organizations to fuel collaboration and help employees connect with their work and each other. HRIS systems help you automate manual tasks and minimize compliance risk so you can focus on the areas of your business you’re passionate about.
Workflows and Documents
Workflows improve efficiency and data accuracy. Coupled with centralized document management, managers no longer need to shuffle paperwork and chase approvals. Instead, you and your team can focus on the strategic initiatives that drive communication, collaboration, and connection — and ultimately impact your organization’s bottom line.
HR Consulting and Compliance
HR is an ever-changing landscape of compliance requirements, social issues, and HR policies, and the risk is too high to take chances. Unfortunately, one poor decision or missed deadline could negatively affect your business.
HR consulting minimizes compliance risk and leverages industry best practices. HRIS systems can even support the everyday items that need to be done – like policy and handbook reviews and other critical HR support services. From employment verification and healthcare to Equal Employment Opportunity (EEO) and compensation, complying with employment law can be a time-consuming and costly challenge. Use HR Compliance solutions to stay on track and view your essential employee compliance items all in one place.
Employee Self-service
With employee self-service, employees get secure, 24/7 access to all their needs through a convenient HR portal, empowering them with the information they need at their fingertips. Supervisors benefit, too, with the ability to approve schedule changes or time-off requests, review paychecks, and stay in touch with their team. As a result, you can stay connected anywhere, anytime.
Employee Experience Platform
These tools allow employers to deliver the experiences employees and managers want—not just when they need to find their W-2. As a result, engaged employees increase the adoption of self-service processes and automation.
Build a Community
Think of this as an online social collaboration hub that connects employees, leadership, and their work. Using an HRIS platform allows you to reach all employees – even those remote, on-the-go, or who don’t have corporate emails, such as freelancers or contractors. Features include and go beyond standard self-service functionality such as chat, file sharing, post-scheduling, and peer recognition.
Employee Peer Recognition
In today’s workplace, employees of every generation want more than a traditional employee recognition program. They’re looking for acknowledgement from the peers they work with every day. Give employees the power to celebrate each other anytime, from anywhere, through HR tech. Increase team engagement, give employees the positive peer feedback they seek, and promote positive peer-to-peer interactions. You can also encourage employees to post their accomplishments on their profiles and share them with coworkers!
Video Platform
From video chat to video documentation, our work has shifted toward more efficient and more-effective workplace experiences to keep us connected. HR tech is also evolving with the times. Now you can use your HRIS system to share integrated videos within onboarding, training, and through email and messages.
Employee Survey Tools
Employees want to have their voices heard. A thriving culture is built on engagement, which means being open to all types of feedback from both inside and outside your organization. HR surveys open the door for ongoing and transparent conversations. Surveys through your HRIS system can help you gather valuable feedback from all your employees, including contractors or freelancers. This allows supervisors to understand existing issues better, anticipate potential problems, and measure the effects of change.
Ready to Outsource Your Payroll?
If you have any questions about HRIS software, don’t hesitate to ask! Here at Merritt Business Solutions, we’re always open to a dialogue about how to support all of your HR needs.
Still managing payroll internally? This is your sign to consider making the switch! Then, whenever you’re ready to start the outsourcing process, we have a complete guide to walk you through your next steps. Download it here!
