HR Compliance Problems? Here’s One Solution
Jan 31, 2022
Maintaining compliance is one of the main responsibilities of the human resources department. Meticulous records need to be kept where compliance is concerned. In some cases, employees need to update certifications or receive training to maintain compliance. You also need to be certain that you are complying with all of the local, state, and federal regulations that apply to your business. The days of a person being in charge of this are over. The role of HR has shifted but if your HR team is spending too much time in the weeds of compliance, how will they help grow your organization? Did you know they should be able to? That’s where utilizing HR software for compliance comes in handy.
Technology has made it a bit easier to streamline employee records and take care of other human resources tasks. There are human capital management systems you can utilize within your organization to keep the records straight. Here is how using employee database management software can make a huge difference for your company.
What is a Human Capital Management System (HCM)?
Human capital management (HCM) can refer to both a business strategy and a set of applications created to help you manage your workforce. In this instance, HCM will refer to a set of applications that helps you manage your staff from the time you hire them until they leave your organization.
At HireLevel, we call this Recruitment to Retirement because that’s how seamless the lifecycle should be.
While many people use the terms human resources and HCM interchangeably, they are quite different. Human resources typically focus on core employee management activities. Human capital management takes it a step further by focusing on getting the most engagement and performance out of each employee.
Are you ready to transform your HR?
Rather than considering your workforce as an expense, human capital management software, like HireLevel’s, helps you increase productivity and employee engagement by treating your staff as a business asset. We believe in upgrading your process management while staying true to the human touch. The two together will put a torch to the Great Resignation.
Through strategic management and investment with an HCM system, you can maximize the value of your employees. Best of all, your data, performance metrics, training materials, and everything else can be accessed in the same place. This frees up the time of your HR team to be spending more time with people and less time buried in paperwork.
HR without smart technology is the ultimate “My dog ate my homework” scenario. It’s time to equip our teams so they can stop chasing and move to transforming businesses and changing lives!
How Can Employee Engagement Software Benefit HR?
There are a plethora of benefits to implementing employee database management software in your company. For your HR department, it will help increase efficiency and provide more accurate records. HCM technology can help mitigate compliance risks and increase productivity because there are fewer manual errors.
From a record-keeping standpoint, HCMs are a life-saver. For example, when a new employee is hired, an HCM platform manages all of the new-hire paperwork and ensures you have met compliance regulations at a local, state, and federal level. It then feeds into your payroll system to ensure payroll and tax deductions match these considerations, per employee. The technology also provides both you and the employee with a record of HR interactions (PTO requests, training, etc.).
All in all, HCM software makes managing and engaging with your employees easier. Below are a few more of the specific benefits HR departments can expect to see after they implement an employee management and engagement system.
Limits Compliance Risks
Using an HCM system will provide you with centralized employee management, which can help limit compliance risks. Effectively managing compliance can be a challenge for any business.
When you adopt an HCM system, it ensures all of the policies and regulations that have been put in place are being followed at all times. When there is something that warrants action, the HR compliance software sends a notification out.
Promotes Accuracy
Do you know how many hours and dollars are wasted each year on human error?
When you aren’t manually submitting information there is less room for error. You can truly optimize all of your human resources processes using a human capital management system. Talent and workforce management often takes a lot of manpower. Paperwork mistakes or filing errors are common. However, using a human capital management system eliminates much of that risk.
In addition, you can get hundreds of pre-made and customizable reports. So, OSHA forms, EEOC reports, and other required reports can be easily filed. You can also create custom templates to help your staff complete common forms. All of this helps decrease human error and increase accuracy across your organization.
Encourages Employee Self-Service
Human capital management software will also encourage employees to take care of common HR tasks themselves. About 50% of HR’s time is consumed with manually addressing employee requests. Many of these requests are administrative tasks they have to perform daily. Having an employee self-service option can save your HR team a lot of time and make it easier for staff members to submit requests. This includes requesting pay stubs, paid time off, adjusting tax withholdings, and benefits plans. The system frees up time for your HR department while simultaneously providing a consistent experience for each of your staff members.
Monitors Employee Activity
HCMs make reporting more simple and can help monitor employee activity. You might even think of it as employee record-keeping software. HCM software can help you manage each of your staff members from the day they are hired until they leave your company. Using the analytics and data collected from monitoring employee activity, the software can predict employee performance and also things like “will they quit?”
Learn More About HR Compliance Software by Contacting HireLevel Today!
The #1 reason businesses do not have HR Software is because they think it’s not the budget. The #2 is that they think their team won’t be able to use it. The trick is starting only with what you need and building around your needs as you grow. At HireLevel, that’s our goal. We tailor our HCM solutions to be exactly what you need right now and agile enough to grow with you. Not sure where to start? We have an in-house consulting team that will meet you where you are at, start with compliance issues, and move toward engagement best practices.
We can help you with everything employee management and engagement from Recruitment to Retirement.
Let us help your business grow from the inside out by transforming your HR. Our HR software will help you manage your employees, improve engagement, and motivate your team to achieve the company’s goals. Learn more about our human capital management services and how we can assist your organization.
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