The war for talent shows no signs of slowing down as employees evaluate not just compensation and benefits but the overall employee experience when selecting jobs.
To emerge victorious, an integrated HR strategy needs to span the entire employment lifecycle. This begins by utilizing technologies to recruit wider talent pools and create positive candidate impressions.
Sophisticated applicant tracking systems streamline sourcing, screening, and building customized pre-boarding experiences scaled to high-volume hiring organizations. Integrations with review sites give deeper insight into workplace culture and advancement potential.
Candidate relationship management tools nurture relationships with talent prospects who may be a good fit for future openings or employee referrals. A great recruitment platform lays the foundation for an HR ecosystem designed to engage staff and reduce turnover.
Empowering Employees and Managers
Once strong performers are onboarded, cutting-edge human capital management systems unite all concerned parties to enhance talent development, productivity, and satisfaction.
Self-service features like accessing pay statements, updating personal information, enrolling in benefits, or requesting time off improve convenience for employees while containing HR overhead.
Learning management system integrations help bring role-relevant skills training from leading content partners to help nurture growth. Linking compensation management modules makes it easy for managers to nominate top performers for things like bonuses or incentives.
Built-in analytics help identify flight risks, determine salary benchmarks, and provide succession planning insights. Core HR information system (HRIS) functions like tax reporting, compliance tracking, and absence management ensure legal and regulatory responsibilities never fall through the cracks.
Optimizing the HRIS Payroll System
One of an HRIS platform’s most vital components is its payroll system, which manages the entire process from time tracking through producing paychecks, tax filings, and year-end documentation.
The experts at VertiSource HR recommend selecting a HRIS payroll system with robust configurability to support unique organizational needs for overtime calculations, reimbursements, garnishments and more, as this eliminates the need to manually override defaults or maintain custom spreadsheets.
Integration between payroll, benefits administration, and compliance modules creates efficiencies by auto-populating new tax structures, deduction changes, or life events that alter W4 allowances.
Built-in analytics provide absenteeism patterns, overtime spend, and compensation analysis to guide fiscal decision-making. And offering employees convenient access to digital pay stubs via self-service improves transparency.
Transitioning to Retirement
Even as talent acquisition teams work hard to source early-career professionals, HR cannot overlook later-career employees preparing for retirement.
Many retirees leave jobs sooner than planned because of dissatisfaction, suggesting there are gaps when it comes to supporting this group. HCM platforms equipped with robust workforce analytics can forecast upcoming retirement waves and assess resulting skill deficits.
This data enables leadership development initiatives to address pending vacancies by readying successors. Retirement modules help employees model different scenarios to determine optimal exit timelines that maximize their nest eggs.
Providing resources like financial wellness eLearning courses and connecting retirees with alumni networks eases major life transitions that can profoundly affect mental health. With strategic planning and empathy, employers gain goodwill that pays dividends through engaged retirees that refer new recruits.
Conclusion
While individual technologies supporting discrete HR responsibilities carry distinct advantages, integrating solutions is the path to truly elevating employee lifecycle experiences. Unified platforms eliminate cumbersome point solutions requiring separate logins, manual data transfers, and toggling between systems.
HCM hubs built using cloud architecture and robust APIs seamlessly unite functions needed to hire, onboard, manage, develop, engage, reward and off-board staff on a common architecture that unlocks holistic analytics.
This empowers both tactical and strategic business decisions tailored toward nurturing employees from candidates to retirees while optimizing human capital investments – the backbone of innovation and growth.
