Unlock The Advanced Features: How HR Systems Go Beyond Payroll Calculations

payroll management

Companies that have implemented automated HR systems are able to offer advanced payroll management to their entire workforce. The HR department in a firm, however, is responsible for more than just calculating compensation and benefits. It also plays a strong hand in maximizing a company’s employee productivity and increasing its overall efficiency. Employers shouldn’t just focus on the micro activity of generating accurate payslips but focus on the other positives that HR systems provide on a macro level, such as increased employee morale, productive analytical reports and reduced compliance risk.

Accurate Automation

One of the biggest disadvantages of manual calculation and administration of payroll is the high probability of human errors involved. Automated payroll software immediately decreases the risk of processing inaccurate employee records by not only generating customized payslips but directly debiting them into the right employee’s bank account. By keeping a close tab on hours worked, holiday periods and benefit eligibility, both employers and employees avoid penalties and setbacks.

High Employee Morale

The majority of employees think that a cloud HR software is implemented for the sole benefit of HR executives and managers; however, this is not the case at all. Most of these systems are equipped with an employee self-service portal in which employees are able to perform some functions directly on the system, including viewing their payslips, updating their personal information and submitting leave requests. By reducing the time of having to wait on critical employment details such as paycheck amount and benefits information, employees make it possible to be less dependent on the HR department and gain a sense of empowerment at the same time. This in itself boosts employee morale leading to low employee turnover rates in the long run.

Detailed Reports

Generating quality reports within a short period of time becomes a difficult process for managers, mainly due to the inefficiency of being able to collect an immense amount of data. A simple web-based solution, however, usually comes with built-in reporting and analytics tools that are able to analyze data, thereby simplifying the steps of identifying trends and enabling action. Further, a centralized dashboard offers comprehensive employee records, allows a smoother course of information flow and enables better decision-making all-around.

Careful Compliance

An automated HR system also ensures that all employees fill out the required forms within the specified due dates and that these records are saved in the appropriate space so everything can be easily accessed with the click of a button before the next audit. Push notifications can be set to alert both employees and managers in the case of an expiring document or license.  With increased employee participation in terms of regularly updating personal information and ensuring accurate time and attendance input, accountability is able to reach an all-time high.

Integrated HR software, complete with time and attendance systems, provides a range of benefits to both the employer and its workforce beyond just sending out accurate payroll calculations. Employees can take advantage of the self-service portal to input accurate and updated information around the clock, keeping within and even ahead of compliance regulations and requirements. Managers and executives can use the different tools in the module to assess the data and project strategic insights that help guide the organization towards success and longevity.