We’ve been talking a lot about implementing a human resource management system recently; how to evaluate systems, choose a vendor, increase user adoption, etc., and one of the final points of discussion is the benefit of using a request for proposal (RFP) as a part of your final system selection process.
This can be a time consuming document to pull together, but it can also be incredibly helpful as you compare and contrast system functionality as well as vendor capabilities. An RFP can be as short or as long as you’d like, but the more detailed you get the more confident you will be in your final selection. Here are the most common elements of a basic HR software RFP and a template to help you create one faster.
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.
Traditionally human resources has been a relatively low priority for companies, despite the fact that it nourishes the company’s biggest asset, its workforce. As both business and technology has evolved, automating and streamlining the HR process has become increasingly important to organizations of all shapes and sizes; because of this shift, the adoption of human capital management software (HCM software) is on the rise. Here’s what you need to know: