You have to feel sorry for HR: the department is expected to do a lot of very different tasks, do them flawlessly, and make it all look easy. HR doesn’t get a lot of appreciation. No one ever calls HR and thanks them when everything goes right. The very idea seems silly. But if anything goes wrong, everybody hears about it – and no matter how quickly or elegantly it’s resolved, the problem will be remembered for a very long time.
The only real response a company can have to the challenges that come with managing people is to do it right the first time. But that’s easier said than done.
The Challenge for Payroll Services
Let’s think about the challenge of payroll. There is nothing more delicate than payroll, and there is no task as demanding. Sure, changing laws have made benefits more complicated by the quarter, but open enrollment only comes once a year. Payroll is often a weekly adventure!
A number of factors come into play with each pay period. Changing laws are a given, but they are really just the start. Employees can be subject to garnishments, judgements, and support orders. They can change their deductions (or not) and then want an explanation for why their paycheck wasn’t what they expected. Employees get promoted, they get bonuses, or they get transferred. All of these things happen in the normal course of business, but when you add in technical challenges and time entry errors and a host of other problems big and small, you’re left with a daily headache for everybody in the department, and possibly for a number of your other employees.
There has to be a better way to meet the needs of your employees while still growing your company.
What is HCM?
HCM stands for Human Capital Management. The term refers to an HR management system that seeks to gather all aspects of Human Resources under the same platform. Think of how much information needs to circulate for each employee in a typical pay period: hours gathered from one system, inputted into a payroll system, pay calculated and submitted for direct deposit and/or check creation via another system. There is potential for error at each of these steps. Under HCM, there is one system where everything is gathered and processed.
There was a time when the idea of bringing all the different threads of employee management into one cohesive unit was limited to Enterprise Resource Packages, like PeopleSoft and SAP. These systems were exclusive to very large companies that could afford both the software and the squads of consultants necessary to integrate the systems, bring them online, and maintain them. That time has passed. In the 21st century, it’s not necessary to purchase a new HR system and extensive consulting services to bring everything in HR under one umbrella. Now, you can partner with companies that are devoted to successfully managing your HR operations, which can be involved with your company as much or as little as you like, depending on your business flow. You no longer need tons or capital to bring your company up-to-date.
Why Should You Partner with an iSolved Payroll Company?
When it comes to better management of your payroll process, your company needs solutions that are not only engineered to meet your current needs, but solutions that can grow with you. That’s why partnering with a company that offers iSolved Payroll services can really help. The platform is engineered to not only meet your current, day-to-day needs, but to grow with your company and continue to offer full service payroll as your business changes. With iSolved, you will have an effective, integrated online payroll system that will handle everything, from payroll tax management to deductions and benefit. The right iSolved Payroll Company can also reduce your payroll cost.
For more information on how Commonwealth Payroll & HR can work with you on your strategic human resources planning, call us today at 877-245-1159.