Payroll is one of the trickiest jobs the HR department performs. It involves enormous data entry, which should be 100% accurate. Moreover, it involves tracking leaves, arrears, and comp offs. And last but not least, let’s not forget the ever-changing statutory rules. It is hard to manage all the cores manually. That’s why the many software for HR is an excellent option for the payroll department!
Table of Contents
Why A Software For HR Instead Of Standalone Payroll Software?
Well, because an integrated HR payroll software can help you with integrations with attendance systems (manages leaves and arrears), employee records (no need to input employee bank and personal data), performance records (automatically receives bonus and cash rewards) etc.
In the absence of software for HR, your department goes through the pain of entering or transferring data manually from one software to another. Why bear with such hassles when you can easily opt for convenience and time-saving at a minimal cost?
Let’s learn about its benefits in a little more detail.
Advantages of HR Software For Payroll Department
#1: On-Point Compliance
Statutory compliance is critical, and even a tiny ignorance can cause your firm huge fines and losses. Moreover, the requirements keep changing owing to the changing laws. However, software for HR makes this process effortless by automatically updating the rules in the software.
Furthermore, good HR software provides you with Challan formats you can edit and submit. And this is not the end. It also notifies you of upcoming deadlines.
#2: Lesser Paperwork, More Automation
Among the many advantages of HR Software, one is less paperwork, and the second is more automation.
By lesser paperwork, we mean you no longer need to make cheques for payroll distribution—moreover, no need to distribute payslips either. Your employees can check the soft copy in the software and even print it if needed.
Also, your new joinees can upload their payroll documents before their first day, saving a lot of hassles for your payroll team.
More automation means you no longer need to enter the employee data again and again. Instead, feed the new joinee data once, and you are good to go. This data is stored in the central database and can be used by all modules of the HR software, including payroll!
#3: Better Insights
You get better insights when you have integrated software for HR and not just payroll software. You get more in-depth reports. Firstly, you can check the employee with the highest rise in their CTC and review their performance graphs.
Then repeat the activity with departments and do more digging than just a payroll software would have allowed you! Analytical insights are one of the best advantages of HR Software as they enable you to know your organisation so much better and test your creativity to unending limits.
#4: Single Database Means More Accuracy, And Fewer Hassles
A characteristic feature of integrated software for HR is a single database for all modules- attendance and leave, performance, payroll, recruitment, workforce, etc.
So, when you confirm an employee in the recruitment module, the details of the employee get auto inserted in the employee database. Their CTC gets auto-assigned and, on salary day, credited accordingly from the records.
If the employee has taken any leaves or arrears, they are also auto included because at the end of the day, the modules may be different, but the database is the same.
This convenience is not found in standalone payroll software.
#5: Enhanced Employee Experience
Employees have more control over their information when you reward them with software for HR. Yes, you read it right, reward them! Employees give their level best to your organisation. A small step like an HR Software can go a long way in keeping them happy.
First of all, the new age self-service modules help them print their payslips, W-2 Forms, and other documents.
Moreover, they can check their leave balance and match it with the LOP (Loss of Pay) they might have incurred. In short, the employees have more control, and the HR department has fewer queries. They save time, increase convenience, and reduce hassles for both parties.
A few more ways an HR Software helps your employees is by giving HRs more time for meaningful interactions like taking and providing continuous feedback, improving HR policies that ultimately make the work environment better, and so on…