From paying your employees to managing salary budgets, payroll departments have the business critical responsibility of making sure your workforce is paid on time and free from errors. In this infographic, we’ve gathered 11 stats that demonstrate some of the trends facing payroll teams, the most significant challenges and the impact payroll software can have in teams. (View the infographic in full-screen)
Employee turnover is part of being an employer. Starting a job straight after school or university and staying there until retirement is no longer commonplace. Nowadays, people move between roles much more often than they did in the past. Research by insurance firm LV= found that a UK worker will typically change employer every five years. What’s more, the Society for Human Resource Management estimates that it costs an average of 6 – 9 months of your former employee’s salary to find and onboard their replacement. Your ability to retain employees is an important factor in your success – and…
Human Capital Management (HCM) software is technology designed to help employers to manage, recruit and develop a workforce to become their most productive and engaged selves. HCM software will usually include modules such as a core HR database to store employee data, recruitment, people management, self-service, performance, analytics and much more. Why is HCM software important? At its simplest form, human capital management is about putting people first as employers are starting to realise that their employees are their most important asset. Research by Gallup suggests that highly engaged teams show 21% greater profitability for companies, so keeping them engaged…
HR industry analyst, Josh Bersin states that “companies that embrace diversity and inclusion in all aspects of their business statistically outperform their peers.” Clearly, diversity and inclusion (D&I) initiatives are not just a feel-good, box-checking exercise for HR departments; but they have a marked impact on financial and business success. To put good D&I in perspective, a study by the World Bank found that gender-based pay parity could potentially see the world economy grow by a staggering £120 trillion. And those with senior management teams that are gender diverse are 21% more likely to report financial performance that is above…
For many considering purchasing HR software, the shortlist of requirements is usually very feature heavy. The need for employee self-service, recruitment, analytics and workflows usually tops the list for most in the market for HR software; but often, a good User Interface (UI) and User Experience (UX) can be overlooked. What is UI and UX? For those of us in the tech world, UI and UX are two terms often bandied about. We bemoan the poor UI of a website and praise software products with great UI; but to those less au fait with the two terms, these statements can…
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