The 4 Things Your HR Software Should Absolutely Do

The 4 Things Your HR Software Should Absolutely Do

HR Software, HR Solutions

If your current human resource software is causing more headaches than solving them, it could be time for a switch. HR software should be intuitive, consolidated, and accessible; the whole point of a human capital management solution is to create improve time management, accuracy, and the human relationships necessary to drive better employee engagement, retention, and satisfaction.

1) Fit Your End User

Human Resources personnel are more tech-savvy than ever, but that doesn’t make them computer programmers or developers. Before purchasing HR software, it’s always a good idea to determine who your end users are. They could be hiring managers, directors, assistants, legal, security, and employees, as they manage their own benefits and time off. The best HR software on the market is created with specific end users in mind, with intuitive customizations, workflows, and processes.

2) Minimize Gaps. Maximize Efficiency.

Speaking of processes, if your current HR software doesn’t handle every aspect of your department, it’s time to find a software-as-a-service that does. Integration among several programs wastes time, increases the likelihood of errors, and is ultimately ineffective. “We built Highflyer around the fact that HR professionals don’t have time to pull data from several sources,” Craig Broome, President of Highflyer HR. “Single-source technology is the best way to increase efficiency and productivity while minimizing mistakes, missed opportunities, and compliance hassles. And this means human resource teams have more time to focus on the growth and development of their company’s objectives and talent.”

3. Put Human Resources At Your Fingertips

Human resources shouldn’t exist in a vacuum, and its software solutions shouldn’t either. The best HR software uses secure, cloud-based technology that allows you access to the information you need no matter where you are. Your HR software should allow you to manage and approve payroll, timesheets, days off, benefits enrollment, and ACA compliance from your office computer, tablet, and phone.

4. Focus On What Matters

HR software should solve problems, not create them. It should save time for everyone who uses it. It should streamline the onboarding process through automated form fills and secure storage. It should give employees the ability to manage portions of their own benefits and personal accounts. It should keep you apprised of errors, compliance deadlines, and benefits enrollment. It should give you the reporting tools you need to make smart, strategic decisions for your business. In other words, it should work.

When HR software does its job properly, so can everyone else. “We all know that when Human Resources is happy, everyone is happy,” Broome. “Every company owes its success to its people, which underlies the importance of a strong HR department. Give your human resource professionals the right tools, and they can effectively minimize risk, recruit top talent, develop innovative and driven teams, and retain the strong leaders that drive the company forward.”

And that’s why Highflyer is here.

Can you prove your ACA compliance?

Can you prove your ACA compliance?

ACA Reporting & Compliance, Benefits, Compliance, HR Solutions

The Affordable Care Act (ACA) employer mandates and deadlines are putting plenty of fear, worry and doubt into those who must comply with reporting requirements.  Applicable Large Employers (ALEs) should be especially aware of their ACA obligations to employees and the IRS.

Enforcement

Since the ACA became a law, the IRS has managed over 40 provisions regarding implementation of ACA.

Perhaps the most pressing from an employer’s viewpoint is play or pay.  Large employers (50+ FTEs) who do not offer coverage for all of their full-time employees, offer unaffordable minimum essential coverage or offer plans with high out-of-pocket costs could face tax penalties.

The employer would also be subject to a tax penalty if there is at least one full-time employee certified as having purchased health insurance through an exchange and was eligible for a tax credit or subsidy.

Fines

Employer fines imposed for ACA noncompliance are referred to as employer shared responsibility payments.  The full details of who will have to pay, how much to pay and under what circumstances is pretty complicated, but rest assured those fines can be substantial. The IRS official Q&A about this contained 56 entries when it was updated as of May 20, 2015.

Data

ALEs should have been recording and compiling detailed, monthly information as of January 1, 2015, in order to meet filing requirements. Some required data includes:

  • Federal Employer Identification Numbers (FEIN) within a controlled group
  • Total employees
  • Total full-time employees
  • Total months covered
  • Validation that minimum essential coverage was offered, affordable and met the minimum value requirements
  • Personal information, including Social Security Number and birth date

Forms

Required reporting will be done via four IRS forms:

  • 1094-B (Transmittal of Health Coverage Information Returns)
  • 1094-C (Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns)
  • 1095-B (Health Coverage)
  • 1095-C (Employer-Provided Health Insurance Offer and Coverage).

ALEs will file Forms 1094-C and 1095-C, while the coverage provider or self-insured plan sponsor has the legal obligation to furnish forms 1094-B and 1095-B to the plan participants.

Deadlines

Full-time equivalent (FTE) employees must receive their completed forms by February 1, 2016 (due to January 31 falling on Sunday). The paper reporting forms filed with the IRS must be sent in by February 29 (due to leap year) or March 31 for electronic filing.  Employers should already be implementing a solution that can manage ACA data and report compliance.

Be prepared

The challenges of ACA compliance can be met with the right solution that manages employee data, time and attendance, HR, payroll, and benefits so an employer is able to quickly review data. If you use outside assistance, make sure they provide a defined project plan to ensure your compliance.

Action plan

  • Know exactly what should be done
  • Define a process
  • Manage and compile data
  • Understand the forms and instructions
  • Meet the deadlines

The bottom line?  Be ready – you have to comply!

6 Reasons To Use HCM Technology

6 Reasons To Use HCM Technology

HCM Technology, HR Software, HR Solutions, Human Resources Software

Most human resource professionals are well aware of the Human Capital Management (HCM) movement.  The right HCM technology will streamline HR processes and save the company time and money, both of which should be considered for your ROI.

A recent Nucleus Research study included companies of various sizes and industries and revealed many noteworthy items that confirm implementing HCM can significantly impact your business.

HCM provides hard savings:

  • HCM technology returns an average of $9.13 for each $1.00 spent.
  • Initial implementation of cloud-based HCM solutions can cost 79% less than on-premise solutions.
  • Companies experience about 90% in savings for ongoing maintenance.

Cloud-based HCM provides everything an employer needs to manage their workforce and is in high demand. With today’s business environment, legislation and technology, employers are challenged to do more than just issue paychecks.

Here are six reasons HCM will benefit your business:

  1. Cloud-based solutions. HCM technology is extremely cost-effective. Cloud-based HCM applications reduce the need for IT support while providing access from any location, with any device. HCM allows multiple customers to access the same application simultaneously.
  2. Hardware/software upgrades. The cloud technology’s multi-tenancy architecture assures you of always working with the latest version. No more downtime while updates are processing.
  3. Data security. Data in a cloud-based HCM system provides secure data effortlessly, maintaining high standards and rigorous adherence to government compliance regulations. Important information is protected using superior firewalls and encrypted transmissions.
  4. Shorter learning curve. Using a single plug-and-play solution consolidates numerous tasks, leaving more time to focus on vital HR related issues.
  5. Tracking talent management. HCM platforms can cover the entire employee lifecycle, from hiring, onboarding, to training and even termination.
  6. Better employee engagement. No matter where employees are located, they can access personal data, benefits information, requests for PTO and payroll, relieving HR from time-consuming data management.

Today’s employers need to save time and money wherever possible. HCM technology has numerous benefits that not only streamline processes but can increase your ROI.

 

4 Benefits of Improving Employee Onboarding

4 Benefits of Improving Employee Onboarding

HR Solutions, Onboarding, Time & Attendance

Nearly a quarter of staff turnover happens within six weeks of starting employment, which wastes time and resources. When a new hire starts with your company, this will be his or her first chance to see how it operates. Clear instructions, timely responses from management and HR staff, and proper handling of new hire paperwork are important tasks that help instill confidence in new employees. But when your new hire is shuffling between departments during the first week of employment, it’s tough to keep track of where he or she is in the onboarding process.

The solution to this common problem is an automated onboarding system. You can eliminate unnecessary steps, automate your onboarding workflow, and get rid of extra paperwork. Four of the leading benefits of improving onboarding include:

Improved job performance

When your employees understand their expectations, their performance tends to be much better. This is especially true of new hires, who are trying to adapt and learn more about the company culture and the new positions that they are filling. Take time to reduce ambiguity around policies and responsibilities.

Reduced stress

Onboarding a new employee is often a process can bring stress to everyone involved. When the process becomes more automated, everyone involved can stay apprised of the progress and have a clear understanding of necessary next steps. Automated onboarding also provides the opportunity to discuss the company’s values and expectations in the new role.

Increased employee satisfaction

If an employee feels confused or overwhelmed when starting in a new role, he or she might start to feel unfulfilled. When you can spend time with the new hire and provide information about goals and the company vision, you are laying a foundation for better satisfaction.

Better retention

When new hires feel satisfied and have lower stress levels at work, it is unlikely that they will look for other opportunities. Stress reduction, job satisfaction, and improved performance all add up to the ultimate goal of higher retention rates.

Taking steps to improve your onboarding process is well worth the effort with the benefits that this kind of system can offer.

iSolved, a human capital management system, is all about eliminating paperwork, and its newest addition, Onboarding, does just that for human resources and hiring managers. Onboarding is built directly within the Highflyer HR platform, so you can sign in once and access all of the data it stores in the cloud-based system. When new hires feel like they are drowning in a sea of paperwork, Highflyer HR can help you throw them a lifeline.