The initial deterrent to obtaining a HRIS is generally the cost. Most HR software costs money, whether up front or monthly, and that can seem unnecessary when the company has been functioning without the software. What may not be immediately apparent, however, is that a HRIS could also potentially save money for the company that outweighs the costs put towards the new system.
Automation of HR Tasks
If HR is being handled mostly manually, chances are good that labor hours are being spent handling mundane tasks. Automating these tasks using a HRIS could free up time that HR professionals could better spend on employee conflicts, policy revision, and other more strategic tasks. Automating tasks may save hours or help to eliminate a position, but it could also be potentially used to improve employee relations.
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With task automation comes a reduction in errors. When information is filled into fields from one area of a HRIS to another, it saves rekeying. This can save a lot of time, but it can also help prevent simple errors that could have a big impact.
Errors can be damaging to records, employee relations, and the bottom line. Errors can be costly to fix and can tarnish a company’s reputation. Automation can help to prevent errors and can also perform audits so that errors are spotted and corrected quickly.
Compliance violations can cost dollars, but keeping up with new legislation and reporting requirements can be tricky. HRIS solutions can help keep you up to date on the newest legislative changes, while also keeping all of the information that you might need organized and ready to be assembled into reports with just a few clicks. HRIS solutions make it easy for you to stay on top of compliance without having to dedicate an employee to the task.
Improved Recruitment and Turnover
HR software can be used to optimize the way that recruitment is handled, sourcing more strategically online and helping hiring managers identify the top candidates faster. In this way, HR software can help to reduce time to hire, saving labor hours and potentially bringing in higher quality candidates. Ideally, a HRIS can help to reduce turnover by bringing in candidates that are a better fit and that have been able to research the company more thoroughly.
Selecting for Success
You have the power to save costs by selecting a HRIS that matches your company’s needs, but it is entirely possible to break the bank and go for a solution that exceeds your needs. When selecting a HRIS, be sure to carefully match the solution to your priorities and only get as many features as you need. A scaled down solution can fit your budget and make it less costly for you to implement and train.
If you feel that acquiring a HRIS could help your company to save money and improve outcomes, we can help. Visit our vendor match page to get started.