28 HRMS Software Features to Reduce HR Management Inefficiencies and Expense

It’s true that the workforce is any company’s most valuable asset, but it’s an asset that costs the company money too when it comes to not only salary, but overall employee and benefits management. In fact, the average cost of HR services is about $1900 per employee each year!  Let’s put that into perspective- if you have 100 employees, you’re averaging $190,000 each year in HR services alone. But you can’t just get rid of employee benefits and cut down salaries if you want to recruit and maintain top talent on your team, so what can you do to reduce the inefficiencies and expense of HR management?

The key to success is balancing and containing these costs to keep overhead low, yet business growth and employee retention high.  Your Human Resources Department can help you do this, but they need, as we all do, more time. A human resource management system (also know as HRMS software),  can give them just that.

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Give Your HR Team the Time They Need with Human Capital Management Software

human capital management softwareYour HR department handles a myriad of tasks and is responsible for tracking any and all information, documents, and regulations pertaining to your employees; including hiring and firing, payroll, training, employee benefit management, reporting, and much more. The amount of paperwork HR Departments need to manage all of that is astounding! For example, a company who has 200 employees that offers 4 versions of 10 different benefit plans, the HR department must generate, distribute, track, and follow up on 8,000 documents- that’s before anyone even enrolls!  The number only gets larger from there.
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Building A Case for Human Resource Software

Human Resource SoftwareYour work force is your most important asset, after all your employees are the ones coming up with ideas, putting plans into motion, and helping your company make money; but they are costing you money at the same time. In fact, the average cost of HR services is about $1900 per employee each year. Let’s put that into perspective- if you have 100 employees, you are averaging $190,000 each year in HR services. But you can’t just get rid of employee benefits and cut down salaries if you want to recruit and keep top talent on your team, so what can you do?

They key to success is balancing and containing these costs to keep overhead low, yet business growth and employee retention high.  Your Human Resources Department can help you do this, but they need what we all need- more time. That’s where human resource software comes in.

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