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Does Payroll & HR Technology Drive Business Growth? 

 April 23, 2021

The key to business growth is enabling your team(s) to do more faster. This is especially when it comes to the HR department, which manages Human Resources in addition to handling payroll responsibilities. If you plan on expanding your business, it’s important that these individuals be equipped with the best tools and processes possible so they can handle the increased workload. That’s where having an HRIS (Human Resources Information System) like UZIO in place can be helpful. Along with managing your payroll system, these platforms promote growth by streamlining processes, which increases overall productivity. Unsure of the positive impacts HR and payroll software can have on your business? Let’s go over some of the benefits together.

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Payroll Benefits

Payroll is a necessary evil that usually requires a lot of time to process. This is especially true as you continue to onboard new employees and grow as a business. An HRIS (or more specifically, business payroll software), addresses this issue through automation. These systems are capable of managing payroll responsibilities on their own, freeing HR staff to tend to other vital tasks. The only action required by you is to input employee information; the payroll software will handle all ongoing tasks like payroll calculation, payroll distribution, and ensuring federal/state/local compliance.

Accurate calculations are important when it comes to payroll. Miscalculating paychecks can have lasting effects on your company since an employee who routinely gets underpaid is much more likely to leave. Not only that, but miscalculations may require reissuing payments, which takes valuable time out of HR’s schedule to deal with the previous payroll period. Small business software is nearly flawless at calculating paychecks, so you can be confident that the first paycheck issued is the correct paycheck.

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When you use complete payroll solutions for your business, you’ll be able to easily manage employee time & attendance using a single platform. This is especially helpful when it comes to scheduling since you will have employee pay rates, current schedule(s), and income information right in front of you. You can also use Time Off request, PTO, regular pay, overtime pay, and vacation time information on the HRIS to help create strategic,  calculated schedules for your business.

HR Benefits

            Some small business payroll software—such as UZIO—allows you to manage the HR side of your business from the same interface! These cloud-based platforms provide benefits for your company right from the start, beginning with the hiring process. Information from potential candidates is available in one place, which makes it easier to find the right person for the job. Studies have shown that 83% of HR professionals have trouble filling positions with suitable candidates. You can increase their chances of success by providing them with an easy-to-use library of candidates, rather than leaving them to rely on manually sorting through job applications.

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The benefits of HR & Payroll software extend into the onboarding process. New hires can fill out their initial onboarding forms digitally using the software. The payroll system side of the software automatically syncs with HR, reducing the number of repetitive forms that new hires need to fill out. Information is kept safe and secure within the system, easily accessible later on. Since small business payroll software keeps all employee information on file, this makes it easier for the HR department to manage salary changes, pay increases, and even employee benefits!

It’s Time to Save Money, Increase Productivity, and Expand Your Business

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            There’s no way around it: HR & payroll software plays a crucial role in the growth of any business. Without this software, businesses are held back by the maximum productivity of their in-house teams, which may underperform as the company grows, limiting growth potential. Companies that choose to use HR and small business payroll software have automated systems in place capable of handling thousands of employees, so workforce expansion isn’t an issue.

            Arguably the most attractive benefit of payroll software is the money you’ll save when you switch. Employing a full-time team of HR and payroll specialists can quickly get expensive, but payroll software can manage most of these tasks automatically, allowing you to enjoy increased productivity from a smaller team of professionals. Money saved in the HR and payroll departments can easily be allocated over to marketing, further promoting company growth. Many payroll service companies provide transparent pricing, making the savings evident right away.

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While implementation may take some time & strategy from a few days to weeks, the long-term benefits and cost savings are definitely worth the temporary setbacks.

Interested in the benefits complete payroll solutions can provide for your business? Learn more (and get a free 30-day trial of UZIO) here!

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