Once your business hits 15 employees or more, the amount of data you generate becomes harder to manage. Over time, your company will gradually develop additional payroll and HR data that needs to be stored, accessed, and updated. By investing in a human resource information system (HRIS), you can effectively store and manage data from a single location. Thanks to the HRIS’s centralized data system and automated workflows, your organization can become more efficient and productive.

What Is an HRIS?

With a human resource information system, you can securely store organizational and employee data. This allows you to automate routine HR tasks, improve your compliance, and enjoy an easier onboarding experience. With this stored information, you can manage performance reviews, payroll, training records, and benefits.

How Can an HRIS Help With Your Company’s Growth? 

An HRIS allows you to ensure all of your processes and procedures are carried out consistently. In a recent Mission to Grow panel discussion on “HR Roadmap for Growth Series: What are HR Priorities for 16-49 Employees,” Chris Cooley, principal at MyHRScreens, said, “It goes back to process. We’ve talked about processes a lot–from background systems and HRIS systems, where you can onboard the same way every time. You can have your background checks that are built within that system–that way it’s happening every time.

“We’ve got some rather large clients that don’t use HRIS systems for some reason. They have 3,000 clients. So what happens? Things get missed. I-9s aren’t done. E-verify is not done. Background checks aren’t going.”

With an HRIS, you can ensure consistent processes with every employee. Then, you can use the HRIS to keep a careful record of all of your payroll and HR information, so you can prove your ongoing compliance.

Better Compliance

By investing in an HRIS, you can improve your company’s legal compliance. A good HRIS provider stays up to date on the latest compliance changes, so you’re prepared for major regulatory developments.

Lower Labor Costs

The right technology reduces the amount you have to spend on labor costs at your company. Thanks to advanced analytics, artificial intelligence, and automation, these tools can lower the time spent on payroll, timekeeping, and other administrative work.

Easier Administration 

Each time information is transferred and copied by an employee, there’s always a risk of manual errors. With an HRIS, all of the information is contained in a single repository. When your HR department has to pull payroll data, the information can immediately be pulled from the HRIS.

HRISs are also incredibly helpful for HR departments. Often, HR professionals have to field requests for address changes, pay stubs, and other information. Many HRIS tools have self-service features, so employees can look up all of this information on their own and don’t have to reach out to the HR department for extra help.

Simpler Scalability 

A key advantage of using an HRIS is scalability. With an HRIS, you don’t have to invest in new technology or larger filing cabinets because all of your information is stored in the HRIS. As your company expands, it simply has a larger digital footprint.

More Organized Record Keeping

An HRIS really excels at improving record keeping. Normally, this data collection begins during the onboarding process when employees turn in their payroll details, I-9 forms, and other information. Afterward, this data can easily be accessed, updated, and reviewed as needed.

This type of record keeping is especially important for your company’s legal compliance. Many HR and payroll forms, such as I-9s, must legally be kept on file for a set amount of time. If you’re audited by the Department of Labor or another governmental branch, you want to be completely confident that you have all of the appropriate documents on file and correctly filled out.

Enhanced Real-Time Reporting and Analytics

With an HRIS, you can get real-time reporting about your daily operations. You can often set up alerts and notifications about specific problems or changes. When you need information, you can access it with the push of a button.

More Control Over Information

An HRIS can also be a useful tool for improving employee engagement and satisfaction. Because employees can access their own payroll and HR data on demand, they can easily make updates whenever they need to instead of waiting for an administrative professional to locate and change the information for them.

What Are Some of the Most Popular HRIS Features?

There are many different HRIS tools available today, and the features can vary from one platform to another. In general, a top HRIS program will typically contain some of the following features.

• Time and Attendance Tracking: With the HRIS, employers can track worker hours and attendance. They can also manage leave requests. Often, an HRIS can be integrated with your actual time and attendance clock. Alternatively, there may be an app that employees can download for all of their time-tracking needs.
• Benefits Administration: An HRIS can assist with managing retirement accounts, health insurance, and other benefits administration details. It can help employers enroll workers in benefits. Afterward, employers can use the HRIS to make updates and run reports related to the benefits.
• Employee Database Management: With an HRIS, employers can store information about workers’ employment histories, job titles, and other information.
• Compliance Improvement: Because the HRIS is updated with major compliance changes, employers can ensure they comply with major employment statutes. It can also be set up to send alerts about major changes and upcoming deadlines.
• Payroll Management: A good HRIS can use time and attendance data to calculate the correct payroll figures, determine the amount to withhold, and run payroll. It can also help with wage garnishments, deductions for benefits, and direct deposit management.
• Employee Self-Service Options: Through HRIS features, employees can easily access their own information to make updates and view upcoming pay stubs.
• Real-Time Reporting: If you want to get a bird’s eye view of your monthly payroll or an immediate update on absenteeism, you can run a report and get instant results.
  

Use HRIS Solutions to Accelerate Your Company’s Growth

If you have a company with 16 to 50 employees, it’s time to start planning ahead for your future growth. By investing in the best HR and payroll technology today, you can make scaling your business easier. Besides ensuring easier timekeeping, you can enjoy better benefit administration, improved compliance, and real-time reporting.

To learn more about the best HR tools for your business, reach out to our team of small business payroll and HR experts today.