Human resource (HR) management software has exploded in recent years. Why is there a surge in interest? Of course, the cloud. Companies like Zenefits have sprung up promising cloud-based HR administration for all businesses. They raised $500 million and opened up this profitable industry to others.
It’s not uncommon for most people to think of SAP when they hear the words “HR management software”. Human Resources Managers are the only ones who will appreciate this programme. As a result of the cloud’s arrival, HR managers and employees alike may look forward to a host of new benefits.
The best products perform the following basic tasks:
- Manage payroll and employee records
- Manage benefits administration
- Monitor compliance (insurance, workers compensation, time-off, etc.)
- Manage employee reviews
- Offer business intelligence and reporting
- Assist in onboarding new employees
In today’s market, most companies offer a free foundation set of functionality (modules) while charging for additional modules such as business intelligence. Recent product evaluations for a firm revealed that several of these products provide 30-day free trials. You should be able to evaluate whether the software is right for your organisation after 30 days.
My focus for this week is on some of the top cloud-based HR management tools. I’ll go through the fundamental modules that each one offers, as well as the additional capabilities that you may customise to your company’s needs. Remember that it is not a simple process to compare prices, but I will try my best. Many firms are constantly adding new features and modules to cloud-based solutions.
1. Zenefits Z2
The last year has been a mixed bag for Zenefits, with both positive and negative headlines. After collecting more than $500 million in venture financing, they became one of the biggest players in cloud-based HR administration. As a result of their freemium software strategy, they also came into trouble with the State of Washington (Washington). The drama should be behind them now, we can only hope.
Why should you care about Zenefits, if it has nothing to offer? The best-in-class benefits administration, outstanding design, and a new HRaaS app for small company owners and HR managers are just a few of the things that have impressed us. Zenefits was the only one of the products I tested that I was able to browse without feeling overwhelmed or confused. Each section is well-designed, but it doesn’t feel like it’s geared for new hires.
Zenefits helps employees select in-network providers
Onboarding new workers and independent contractors is made easy with Zenefits. Among its most complex features are stock option management, expenditure reporting and hiring. Due to its integration with Expensify, Google’s G-Suite and the Microsoft Office 365 suite of applications, Zenefits makes cost reporting even easier. One of the most important modules I tried was HR Advisor, and it was a game-changer for me. However, it costs an extra $5 per month, but it allows HR administrators to generate performance assessments and job descriptions. Each module’s interaction with other modules has been carefully considered. In the end, this results in a solution that feels as correct for the employee as it does for HR.
Target Customer: Small to midsize businesses with 20 to 2,000 employees.
Price: Tiered offerings ranging from free to $12/month per employee. Additional modules are from $2 to $5/month.
This is a more pricey solution, but it compensates by giving a wide range of modules that cover all elements of HR administration. An open API makes this a great alternative for organisations that need to interface with other HR providers, such as payroll or recruitment software.
When it comes to simplicity of use and functionality, BambooHR performs a great job. It looks simple at first glance. A further examination, however, will see that BambooHR covers all the essentials and then some. It simplifies a complex module, such as staff onboarding. When an employee is hired, HR administrators collect information from them and enter it into the system. For employees, BambooHR makes it easy to submit their own information straight into the system themselves.
BambooHR makes it easy to track hiring by department
This topic focuses on performance management. As a result of breaking down the process into smaller goals, this module promises to transform the way businesses evaluate their personnel. During the evaluation period, BambooHR will remind employees of their goals by sending automatic reminders. That’s because it’s trying to reinvent HR administration rather than simply moving all of the conventional functions to the cloud. Because of this, it has a more contemporary look and feels compared to Zenefits. I feel that smaller, more nimble firms would enjoy their approach to marketing and advertising.
Target Customer: Small to midsize businesses.
Price: Tiered offerings ranging from free to $7/month per employee. Additional modules are from $1 to $8/month.
Among the products in our roundup, Namely is the most customizable. It’s a great idea for HR managers, but workers may find it overwhelming. In Namely, I had the impression that was geared for people in the technology sector. When compared to other solutions, Namely has an infinite number of tiers of user access. You may use this flexibility to your advantage or disadvantage depending on your requirements. As early as possible, employee templates and a set of modules should be defined to minimise this complexity.
Namely contains a few functionalities that are often seen in products targeted for bigger businesses. A personnel directory and organisational chart are examples of these tools. For example, there is an employee onboarding, performance monitoring and time-off manager. A number of applicant tracking platforms, including Jobvite and Lever, are also integrated into the system.
Namely offers advanced performance review metrics
In particular, it offers a benefits management module as an add-on. In any case, COBRA and Affordable Care Act compliance are covered. It is weird to me that a system with capabilities intended for bigger businesses would not include a stock options manager. Although Namely provides a strong set of capabilities for both HR managers and workers, it is not a perfect solution for everyone. To make up for the increased price tag is a well-designed module with a large number of functions that make it a worthwhile investment.
Target Customer: Medium to large businesses.
Price: Starts at $12/month per employee. Additional modules require a custom quote.
Fairsail makes no apologies about becoming commercial. It’s quite customizable and takes a long time to set up. Companies with less than 200 workers may find it difficult. Only Fairsail provided complete international backing. Uniquely developed using Salesforce’s Force.com technology platform. The Fairsail UI is recognisable to Salesforce users. That it has two portals, one for workers and managers and another for HR administrators, is also unique. Administrators choose and configure modules for others. Did I mention the setup is daunting? Fairsail has an incredible number of features and business information, but finding them will require effort.
Fairsail takes the pain out of employee data management
Somehow, I was transported back in time to the day when I bought my first digital camera, many years ago. He informed me that I had chosen a camera developed by a team of engineers when what I needed was a camera designed by photography enthusiasts. Fairsail looks like it was created by HR managers. No harm is done, however, it is important to be aware of this fact. A sophisticated application tracking, performance management, and benefits administration tool, Fairsail, is available. It is also compatible with iOS and the Apple Watch, as well as Android. All of Fairsail’s features will appeal to HR managers at big companies. A better option for smaller businesses is Zenefits or BambooHR.
Target Customer: Large companies.
Price: Basic tiers range from $9 to $12/month per employee. Additional modules can get pricey.
Business applications are being migrated to the cloud in droves. So many HR-related products have emerged in recent years, but who would have thought it possible?
This is understandable since every business has to integrate new workers, administer their perks and keep track of how they’re doing. As a result of this, Zenefits and BambooHR target small and medium-sized businesses with solutions that are accessible to both HR and workers alike. This is the goal of Fairsail, and they don’t apologise for it. For example, Namely performs a commendable job at bridging the gap between the tiny and the big.
Prior to making a commitment to any of these items, try them out for a month. To test it out, invite workers from other departments to try it out, and then collect feedback from those individuals. I’ve noticed that most businesses provide a 30-day free trial, but I’ve also discovered that some companies will extend the trial if you need more time. I wish you the best of luck!