Benefits of Using HR Software to Support Your Business

An easy-to-use HR technology platform can play a critical role in easing your daily workload. As businesses grow and evolve, many may purchase various software and technology solutions to simplify HR functions. Unfortunately, they can easily wind up with an unwieldy array of technology vendors and software with overlapping functions. This complicates and compromises interoperability, not just among HR solutions, but also with other point solutions that intersect with your people.

A full-service HR platform solves these problems by putting your people and business data in an easy-to-access and easy-to-visualize place. Most professional employer organizations (PEOs) offer such a platform, but there are significant differences among them.

HR software optimizes human resource tasks, goals and overall organization of ongoing workflows through digital solutions. When used strategically combined with a full-service HR solution, it can help improve efficiency within the workplace and allow for a better allocation of time and resources toward more meaningful personal interactions to drive your business forward. HR software can include online self-service tools, reporting and analytics, benefits enrollment, document management, expense management software, applicant tracking, professional growth tools and more. These features allow businesses to manage their HR in real-time with a comprehensive platform that helps support business growth. For more information, consider some of the biggest benefits of using HR software.

Benefits of Using HR Software for SMBs

HR software can be used by everyone within a company, from the top-down to the bottom-up. HR software serves a number of purposes, making it easier for businesses to focus on their primary goals. It’s integrated into the employee experience and provides individuals with a convenient way to access benefits, request time off and more. With streamlined administrative tools and employee self-service options, the benefits of using HR software as a small to medium size business (SMB) are vast. Some of which include the following:

1. Increase efficiency and productivity

One of the most time-consuming aspects of any business is administration. Although essential, monotonous tasks can take away from actionable items that further your goals. As your company grows, so does the amount of information that needs to be sorted, processed and analyzed.

• Online self-service: Some HR solutions integrate self-service tools to help you and your employees manage documents, benefits enrollment and other administrative tasks. This results in a streamlined process of data input and tracking. It helps keep employee information stored and easily accessible in an organized manner. Self-service knowledge articles for managers and employees can also help answer questions and provide clarification without taking time away from your internal HR team.
• Online payroll processing: Simplify payroll administration with direct deposit, electronic paystubs and electronic Form W-2 preparation and delivery. Automate expense management easily and conveniently. HR software that’s integrated with leading accounting solutions such as NetSuite®, Intacct®, Xero™ and QuickBooks™ Online allow for maximized efficiency. Employees can also review pay details or certain income tax-related documents.
• Software integration: HR software with an Integration Center makes it easy for you to sync data between the business applications you use on a daily basis. This helps your team make more informed decisions, which can increase productivity across the workforce. In addition to accounting apps like NetSuite®, Intacct®, Xero™ and QuickBooks™ Online, HR software should be compatible with other popular business solutions, including Microsoft®, Google™, Greenhouse, Lattice and more. HR solutions with integration capabilities help you keep your data up to date across applications.
• Mobile access: High-quality HR solutions should also come with a mobile app to access real-time information at your fingertips. This can further increase overall efficiency and productivity, whether you’re at home or the office. Mobile apps give you freedom and flexibility to manage certain HR needs like requesting time off or accessing your benefits information from the palm of your hands.

2. Boost employee experience

Another way HR software benefits your business is by improving the overall employee experience. Giving employees easy access to onboarding materials, performance metrics and useful applications may help increase their overall experience, thus boosting satisfaction and productivity.

• Mobile onboarding: New employees can easily complete core onboarding tasks from wherever they use their mobile device. They can fill out time-sensitive forms and set up their preferred methods of payment immediately, right from their cellphones. This helps simplify the administrative tasks surrounding onboarding and create a positive first experience with your company.
• Performance management: HR software can help maximize your employees’ potential and support professional growth. With real-time feedback, you’ll be able to facilitate more frequent and informed conversations between managers and employees, set realistic goals and expectations and allow employees to monitor their performance.
• Simplified personal finance: Thanks to integrated accounting apps, employees will also be able to import their Form W-2 or Form W-4 directly into TurboTax® and manage their accounting in a simple, efficient manner. This can help reduce stress and improve employee experience.
• Easy benefits enrollment and renewal: HR software may provide employees detailed information about the available benefit plans, comparisons between providers and a dynamic cost calculator. However, when combined with a full-service HR solution, benefits enrollment application features allow for a simplified process with easy-to-use navigation and human capital expertise to facilitate a smooth experience.

3. Designed to save resources and money

While having an internal HR team is important, automating tasks can increase the time and resources available for your team to pursue big-picture strategies and organizational efficiency. This is especially true in regard to electronic Form W-2 or Form W-4 preparations. HR software may be a cost-effective option for SMBs.

4. Enjoy fewer errors

Using a comprehensive HR tech platform means less manual entry and input which is designed to result in fewer human errors. This is particularly true when it comes to processing payroll and withholding income taxes. Using integrated technology can also help your employees check their work or review submissions to reduce typos or double entries.

5. Simplify HR document workflows

Using a comprehensive HR software solution often means that your employee data is stored in one place. TriNet helps you transform your approach to document management with an intuitive self-service platform that helps streamline common business tasks. Access certain employee HR documents conveniently from the TriNet platform—all with flexible document storage so you can comply with industry-specific standards.

Since this information is kept in one place, it can help you improve overall regulatory compliance. You have the option to run several types of reports to analyze pay gaps, health and safety training or other compliance-related sectors.

6. Stronger data security

The HR data held by SMBs is vital to their ability to grow and succeed. Managing this type of data through a sophisticated HR platform allows SMBs to address a critical concern that is often vexing: cybersecurity. A top-end HR platform can help protect your data and minimize the risk of malicious attacks through firewalls, encryption and other cybersecurity solutions. Additionally, using an HR platform can also alleviate some concerns around business continuity and disaster recovery, as the HR platform will likely have systems in place to back up the data that is stored on it.

Regardless of whether an SMB utilizes an HR platform or not, there is no replacement for vigilance with respect to its own cybersecurity. As such, businesses should run regular scans for viruses or unwanted computer activity. Business owners should also train employees to reduce the risk of human error, as one of the leading causes of successful attacks is the lack of security awareness by employees.

TriNet is dedicated to security functions with a core mission of enabling enterprise and client business success through a risk-based program designed to keep our most critical assets safe, resilient and secure. Our goal is to become an industry leader in security with programs that are key assets in business enablement, competitive differentiation, innovation and growth.

7. Reporting and analytics

Employee engagement is a key factor in the overall success of an organization. Businesses with an engaged workforce tend to have happier employees, which may, in turn, boost overall productivity and retention rates. TriNet’s Workforce Analytics allows SMBs to make smarter decisions that can improve employee engagement and see what’s needed to drive your company forward.

• Dashboards and visualizations: HR software gives managers the ability to turn data into actionable insights. This helps business owners monitor performance and create personalized dashboards using pre-built key-performance indicators like turnover, tenure, headcount, hires, terminations and more. Data can also be transformed into graphs, charts, metrics and scorecards for ultimate visualization.
• Compensation Benchmark report: Workforce Analytics also allows you to generate Compensation Benchmark Reports. This provides you with critical visibility regarding compensation decisions. It also enables custom analytics for smarter job matches and more accurate salary pricing.
• Custom reporting: HR software with Workforce Analytics allows you to create custom reports to gain important insights into your HR, payroll and benefits spending. Some options include standard reports about KPIs, turnover and earnings, flex reports, payroll registers, multi-company reports and more. These can be automized to help you save valuable time.

TriNet offers expertise on the issues that affect your people. In tandem with our full-service HR services, TriNet offers a comprehensive, reliable HR platform with self-service and mobile tools so you can manage your human resources needs. Our HR platform helps support your business growth. You can easily access payroll, view TriNet-sponsored benefits, visualize your HR data, connect with external applications and so much more. Since everything is integrated in one platform, you’ll spend less time on HR and gain insight to make decisions in every aspect of your business. The TriNet Integration Center allows you to further customize your experience by connecting popular business apps and unifying your data so you can drive productivity. Learn how TriNet’s comprehensive HR solutions can help your business.