When you only have a handful of employees, you have to be strategic about every process you develop. The policies and procedures you choose today will determine your company’s future growth. While many small businesses operate on a shoestring budget, there is a cost-effective way you can achieve the same compliance, payroll, and HR approach as big corporations for a minimal cost. Through the best technology, you can scale your business and grow effortlessly.
How You Can Catalyze Business Growth Through the Best Technology Tools
Recently, Mission to Grow hosted a panel discussion about “HR Roadmap for Growth Series: Getting Hiring & Payroll Right for 1-15 Employees.” In it, Jessica Small, Asure’s vice president of payroll operations, discussed how important it is for small businesses to adopt technology-based solutions. “My biggest piece of feedback to small business owners is to really focus hard on the data integrity of what you’re using to process payroll taxes. Invest in technology early on,” says Small. “Helping to stay compliant in streamlined processes and creating an audit trail–those are all things that make technology a really big piece of success.”
With the following techniques, you can make your small business more efficient. Because many of these techniques rely primarily on software programs and online platforms, they can help you save on labor costs while easily standardizing your business practices.
Adopt Applicant Tracking Systems (ATS)
When ATSs first came out, they were designed to help employers weed through dozens or hundreds of applicants. Today, employers’ biggest struggle is finding and hiring skilled workers. While the need for ATSs may have changed, it is still an incredibly effective tool for recruiting applicants.
By using an ATS, you can speed up your hiring process and improve the candidate’s experience. The filtering aspects of an ATS allow you to reduce your labor costs.
An ATS is also an incredibly effective way to compile all of your applications in one spot. Instead of having to go to different portals to pull applicant information and attempt to compare applicants, all of the applications are sorted and filtered for you.
As a small business, you need to invest in an ATS. It will allow you to streamline your hiring process and reduce the time it takes to hire, so you can scale your talent pipeline effortlessly.
Revolutionize Job Listings with AI for Hiring
With tools like Asure Recruiting powered by HireClick, you can simplify your hiring process through AI-generated job listings. This AI tool is specially designed for job listings, so it can ensure your end result is fully compliant and tailored to your company. Because this AI platform can create a job ad with a minimal amount of input, it can greatly speed up your listing process.
Once the listing has been created, it can be posted to hundreds of job boards across the country with the push of a button. Afterward, you can easily use integrated ATS features to track applications and set automatic interview appointments.
Use Payroll Software to Simplify Your Business Practices
When it comes to work, “people do leave because people can’t get payroll right. If you think about it, it’s one of the things that we expect,” says Small. “We’re walking in the door, giving our all every day. The prize at the end is that compensation and the value that you feel in the work that you’ve contributed to.”
Rather than risk workers leaving because of an unpaid check, you can use payroll software to simplify your payroll process. The software includes a self-service portal, so workers can update their own information. This saves your company on administrative costs and prevents data entry errors.
More importantly, payroll software can help you calculate tax withholdings and wage garnishments. It includes important compliance updates, so you have an easier time following local, state, and federal regulations.
Automate Income and Employment Verification
Instead of spending your time verifying employment and income, you can let a platform handle it. This type of secure automation allows you to quickly onboard new hires and easily verify an applicant’s work history. Because you can gain immediate access to more information, these automated processes help with risk mitigation.
Digitally Store Your Records
Many state and federal regulations require you to store records. Even when it isn’t legally required, it is a good idea to protect your business by storing payroll files, termination documents, and HR records. Thanks to the right technology, you can enjoy having a more convenient data storage method.
Access Online Compliance Libraries to Fulfill Your Legal Obligations
By partnering with a professional HR and payroll provider, you can access an online HR compliance library with all of the latest information about HR and payroll compliance. Whether you have a question about paid leave in California or the Pregnant Workers Fairness Act (PWFA), you can access a digital library of information with the latest regulatory changes and recommendations.
The Advantages of Incorporating Business Technology Early On
The right type of business technology can help your company grow. Rather than set up an entire payroll or HR department, you can use these software programs to achieve the same results. With the best software and business technology, you can instantly scale your business as you grow.
Avoid Payroll Errors
One of the most important benefits of payroll software is that it helps you avoid human errors. You don’t have to count on a worker to do the calculations by hand. Because your payroll is run automatically, you also don’t have to worry about someone forgetting to do it each month.
Improve Worker Retention
When your business is well run, you can enjoy better worker retention. Late paychecks, illegal HR practices, and inconsistent benefits can drive employees to look elsewhere for a job. By using software to level up your business practices, you can effectively lower your turnover rates.
Reach Out to Better Applicants
With an ATS and hiring software, you can easily list your job posting on hundreds of websites with the click of a button. After the job has been listed, hiring software, such as HireClick, can filter out the best applicants. Besides sorting and prioritizing applicants, this platform can make it easier to manage the interview process and send out bulk emails to all of your applicants as they reach different stages in the hiring process.
Save Money on Labor Costs
Years ago, the creation of digital spreadsheets completely revolutionized accounting and removed the need for many finance professionals. Before this invention, accountants had to painstakingly erase and recalculate everything in the spreadsheet each time they wanted to see how a different decision impacted the firm’s finances.
As technology develops, it reduces the amount businesses have to spend on labor costs. Today’s payroll, HR, and hiring technology allows you to supplement your workforce with high-tech tools that are engrained with the latest compliance information.
Set Your Small Business Up for Long-Term Success
The people, procedures, and policies you put in place today will determine your company’s growth for years to come. By setting up the right business technology, you can maximize each labor dollar and achieve better results.
Learn more about the best business software by reaching out to our team of small business payroll and HR experts today.