As every growing small business has learned the hard way, complexity rises exponentially with increased human capital in your organization. Mathematicians have calculated it as the square of the number of people. So your 25th employee makes your organization 625 times more complex than when you started with one employee. However, we see it differently. Your 25th employee can bring a silver lining to your efficiency if you know where to look. With the right tools you can streamline your payroll and “hire-to-retire” processes with powerful HCM software that puts all of your human capital management needs on one screen.
Crippled by Inefficiencies?
Too many small businesses are hamstrung because they are:
- Manually entering onboarding and benefit enrollment information and having to make manual updates to the employee records.
- Using multiple systems to accomplish all human capital management needs.
- Printing and filing too many documents.
- Maintaining disparate systems not integrated with payroll and other HRM functions.
- Needing more hours in the day to focus on strategic HR objectives.
- Wanting the ability to manage payroll and HR related tasks all within one platform.
Streamline for Growth
Here are seven tips on how to pick an HCM platform that can help your business grow:
- To grow you need to take advantage of economies of scale. You will become more efficient by choosing a single vendor to create an end-to-end, single-source solution providing payroll, tax management, applicant tracking, onboarding, HR administration, employee and manager portals, leave management, analytics, training, ACA reporting, etc.
- HCM works best when you have a single sign-on platform for both managers and employees, providing them with access to all of their personnel and business information in one convenient place. This fosters improved employee engagement and empowerment.
- Configure dashboard views for different managers and give them easy access to HR features based on their security role. These dashboards need to provide a real-time view of where projects and tasks stand. Managers should also use these dashboards to receive and approve time-off requests.
- Employees should be able to access their pay history and manage their direct deposit accounts, view their benefits, and easily request time off.
- One stop document shop. Personnel and company-related documents can be scanned and uploaded into the HCM cloud to make it a one-stop resource center.
- Streamline the new hire onboarding process by sending automated notices to new hires.: have them complete all of their information including electronically signed consent, I-9 and W-4 forms, etc., online.
- Eliminate double entry and paper enrollment forms by allowing employees to enroll in benefits via an intuitive benefits enrollment engine.
The growth and financial success of your business is inherently tied to the capabilities of the payroll and human capital management systems needed to provide a more engaged and connected workforce.
Contact your Payday HCM professional (888-2PAYDAY) or email us at firstname.lastname@example.org to see how we can use our HCM software to give your growing business a BIG competitive advantage.