HRnetSource | The Value of HRnetSource

The Value of HRnetSource

What Value Does an HRIS Bring to a Business Enterprise?

Labor cost is one of the highest expense items in a business operation. It is incumbent upon professional management to automate where possible, and to use an HRIS. Why?

Data for senior management for better decision-making regarding employees, workforce, costs
Perform "What If” modeling- forecasting ability
Better employee communications, better productivity
Streamline HR transactional tasks and free-up time for more important employee issues
Faster access to meaningful information that was not available in the past
Competitive advantage in being able to hire the best, and retain the best employees

Specific Ways in which HRSource Saves Time and Money:

Regulatory Compliance -- avoid penalties

Enables users to quickly complete and submit necessary government forms and avoid costly penalties. Auto Alert feature ensures advance notification and action for timely action

Salary and Performance Review Planning – pay your employees properly and keep them happy

The powerful salary review system enables managers to analyze pay equity, conduct real-time "whatif" evaluations and ensure that they are spending within budget. Foster loyalty by recognizing and rewarding the best performers.

Benefits Administration – control costs with accurate data and improve employee satisfaction

Cost of healthcare continues to rise. Track benefits enrollment information. The Benefit Billing report allows reconciliation with monthly benefits bills that are received from insurance providers. Ensure that the organization is not overpaying for benefits. The Benefit Statement report (total compensation) displays all employee benefits including the cost of the benefits. Employees realize and appreciate the full value of the benefits that they are receiving.

Applicant Tracking – an efficient process helps you hire the best, while minimizing cost

Recruiting is one of the more expensive HR functions. HRSource provides cost per hire data allowing users to better manage the costs. Features include automatic applicant response letters and offer letters, tracking of how long requisitions have been open, and providing the status of applicants.

Employee Management and Communication

HRSource standard reports show valuable management information such as turnover and headcount by department, hiring and termination numbers and trends. With the proper data, management can do interventions (e.g. for example, more training) to help reduce turnover.

HRSource can also help quickly answer employee questions such as, “in which benefit plan/s am I enrolled?” and “how much vacation or sick time do I have left?”. HRSource allows the user to quickly complete employment verification letters.