It’s no secret that technology is transforming the way we work, and HR is no exception. In fact, cloud software, data analytics tools, and AI are quickly becoming essential tools for any HR team out there, big or small. In a recent survey by ISG, nearly 50% of businesses surveyed reported using cloud software for HR, noting significant cost savings and business value after adoption (ISG). It’s clearer than ever now that by automating manual administrative tasks with technology, HR teams can focus on the bigger picture. Are you looking to get more strategic and simplify? Discover the various ways HR software can help you.
Small Businesses Can Save Time with HR Software and New Technologies
Paycor research has found that HR teams spend 70% of their time on inefficient admin tasks. It takes a lot of time to create schedules, track employee hours and calculate payroll with a spreadsheet. And that’s before you get to other HR responsibilities, like compensation strategy, succession planning and overseeing certifications. HR software automates many of these tasks and reduces manual errors to help mitigate risk and that’s just the starting point. With new technologies like AI for talent sourcing, recruiters spent 50% less time on talent sourcing to find more qualified candidates. What could you do with more hours in the day? Consider how much of an impact you could make on more strategic initiatives, like employee engagement and development, which would ultimately help drive business success.
Paycor’s HR software can help small businesses save time by streamlining administrative tasks, automating workflows, providing insights through analytics, and offering an all-in-one solution that eliminates the need for multiple systems.
People Analytics Can Help Redefine HR Tasks for Small Business
When HR leaders no longer need to spend every day lost in paperwork, they can focus their attention on the business’s bottom line and getting the most from the workforce. This means diving into people analytics, planning long-term strategy and making proactive changes, rather than reacting to the latest crisis. Because HR software for small businesses often includes HR analytics as a part of the package, leaders can use the results of HR metrics to gain a better understanding of their workforce and make strategic, data-driven decisions. Analytics can give you insight to resignation trends, time-to-hire bottlenecks, turnover, headcount, gender pay equity and more.
Paycor Analytics can help HR teams quickly identify workforce trends and take proactive measures to address them, reducing the need for reactive problem-solving that can be time-consuming and resource-intensive.
Businesses Save Money with HR Software
There are quite a few ways HR software for small businesses can save an organization money. For starters, outsourced payroll can be nearly 30% less expensive than in-house (PwC) – not to mention the reduction in risk of fines for being out of compliance. And, when all of the employee information is in one database, it’s much easier to catch efficiencies. For example, when you hire and retain new employees from certain groups, you can get tax credits of up to $9,600 per hire. Additionally, when we talk about the opportunity to save money, it’s important to understand the difference between software and cloud software. Rather than purchasing software outright, cloud software operates on a subscription basis. This reduces costs for individual companies, who also no longer need to worry about installing, maintaining and upgrading software—this now happens automatically.
Paycor’s all-in-one HR solution eliminates the need for small businesses to have multiple software systems, which can be costly to manage and maintain. By providing a single platform for all HR functions, Paycor can help small businesses save money on software licensing fees, maintenance costs, and IT resources.
Teams Can Operate from Anywhere with Cloud-Based HR Software
Cloud software is especially useful for small businesses. Operating technology outright means taking ownership of hardware and support costs. Bigger companies can afford to have their own, experienced IT support teams who are used to taking care of all in-house technical issues. Smaller businesses can’t. The good news is that with cloud software, they don’t need to. Additionally, now that remote work is far more common, frontline managers need a reliable way to connect with employees and a cloud-based solution also opens the potential for employees to complete work actions from anywhere. Cloud HR software is accessible wherever you are, so whatever needs done—whether it’s fixing schedules, communicating with job applicants or verifying your payroll data—it can be done on-the-go.
With Paycor Mobile, employees can complete everyday self-service tasks using a mobile device including clocking in and out, reviewing schedules, managing benefits, and recognizing peers all from their device..
HR Software Grows with You
Most companies are working toward a clear goal: growth. But are they ready for the changes that’ll be required when it happens? If your HR team (and software) isn’t scalable and flexible, you’ll be caught short when your company expands. With cloud software, you’re prepared for whatever happens. Unlike your team, software has limitless capacity: an increased workload won’t slow it down. As your company expands and decides on new strategic goals, you’ll be able to access new product features and specialized bundles that better meet your new reality. Additionally, by analyzing information from all clients, cloud HR software allows for industry benchmarking and comparative analysis, so businesses don’t get left behind by their competitors when it comes to recruitment, retention and compensation.
Paycor software also offers new product features and specialized bundles that better meet a small business’ evolving needs.
HR Software Provides Seamless Integrations with Other Vendors
Cloud HR software covers a lot of bases, and its possibilities are expanding all the time. If there’s something that your software doesn’t have, though, it doesn’t have to be a problem. HR software can easily integrate with partners who lead the field in other industries. For an HR team, this can be helpful for attaining services like specialized pay solutions, background screening or expense management. For the end-user, you’ll experience these add-ons as if they were part of the same software solution.
Paycor research found that one in four businesses need more access to integrations. We offer an extensive network of partners, making it easy for our customers to connect their people and business data.
HR Software Helps You Stay Up to Date on Compliance and Keeps Employee Information Safe
In the past, when a business purchased software, updates were infrequent if not non-existent. Cloud software can be upgraded literally every day, so you’re always using the latest version. In the world of HR, where you’re dealing with ever-evolving labor legislation, this can be the difference between a job well done or major compliance headaches.
Your employees’ data is only as safe as the system it’s stored on. This is a big responsibility for businesses of all sizes, with severe consequences for those who fail. The easiest way to ensure information security is to leave it to the experts. Cloud HR software can offer threat detection, data encryption and risk assessment, giving you confidence that all personal information is kept safe, confidential and secure.
Paycor ensures data security by offering threat detection, data encryption, and risk assessment. Paycor uses advanced security measures to protect against potential security breaches, unauthorized access, and data theft. All data transmissions are encrypted, and Paycor undergoes regular security audits and assessments to identify and address potential vulnerabilities.
Moreover, Paycor’s software is designed to comply with various HR-related regulations and standards, including the Affordable Care Act, the Family and Medical Leave Act, and the Fair Labor Standards Act, among others. Paycor monitors regulatory changes and updates its software accordingly, ensuring that businesses remain compliant with the latest HR regulations and standards.
Discover How Paycor Can Help You Make a Difference
Paycor’s all-in-one solution helps your organization improve efficiency, reduce compliance concerns, and regain the time you need to focus on what matters most—your people.
