How Your PEO Can Help You Cut Costs on HRIS Solutions
When you need to strengthen your workforce management approach, an HRIS system is often the next logical step to take. Moving from spreadsheets and manual calculations to a comprehensive online solution that integrates and tracks all your data in one place can address many of the challenges of running your business. But many small businesses don’t have the resources to purchase and implement an HRIS outright. That’s where a PEO can help.
What Your PEO’s HRIS Can Do For You
Most PEOs include HRIS in their package services, meaning that you get all the benefits of a comprehensive HRIS without the cost of purchase and implementation. The PEO will also cover associated costs such as licensing, maintenance, upgrades, and tech support. This means that small companies with a limited budget can access the same top-level HRIS that larger companies use without breaking the bank. The benefits you receive include:
- Integrated data—Payroll, employee records, benefits management, and time records all integrate seamlessly without the need for manually entering data in multiple places.
- Employee access—Self-service portals give employees the ability to update personal information, request time off, complete and sign off on required training, and access insurance and benefits information online.
- Data analytics—With data compiled and integrated across modules, it becomes much easier to monitor particular metrics in order to plan future hiring initiatives, assess employee engagement, and manage performance.
- ACA Compliance—The HRIS makes it easy to calculate FTEs and generate necessary reports for ACA filing.
- Security—Encryption and password protection keep your data safe from security breaches wherever threats may present themselves.
- Automation—Routine business processes such as approvals, performance reviews, appraisals, and document management can be automated with email reminders, triggers, and alerts to keep your business running smoothly.
Working with a PEO’s HRIS removes much of the administrative busywork from your desk and streamlines the daily HR processes of your organization.
When It’s Time for a Deeper HRIS Solution
Because PEOs generally use HRIS systems that can apply to a broad range of clients, their customization options can be limited. When your business grows to the point where you need deeper integration and automation or more flexibility, the HRIS your PEO is using may no longer serve your needs. When that happens, it’s time to consider purchasing an HRIS solution that can be customized to your business.
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About the Author: Susan McClure is our new resident content marketer at PEOcompare.com. She writes about HR outsourcing, HRIS and general employment issues. When she isn’t writing, you might find her browsing shelves at the library, exploring a local hiking trail, or digging in the garden with her family and fur kids.
