Payroll and performance are two important aspects for every organization that needs to be handled with care. Surely businesses are making considerable use of tools to manage both elements correctly, but doing it separately is a tough job. Then why not find a system that rightly integrates both of them? It will save a large portion of time as you do not separately look for employees’ performance and then return to the payroll application for consideration in the calculation.
By finding and using an integrated tool, you make employees more productive as they will find a reflection of their performance in their salary. Typically, the software helps you to focus on employee’s KPIs better. In most companies, KPI policy is already included to pay employees based on it. For them, this type of tool is preferable to use. Modern workplace innovations helps the managers to make employees more loyal and productive.
This article will provide an overview of the top five tools that integrate performance and payroll for bringing more effectiveness in its management.
Let’s look into it.
Benefits Of Integrating Performance And Payroll Tool
SaaS applications delivers numerous benefits to a business. Elimination of errors, reduced storage concerns, and easy accessibility drives them into a broader implementation over the globe. Various popular SaaS software are there in the market to use for business activities. Despite of various advantages, integrations can be called the most ideal one.
Many organizations may wonder what the need is for using software that integrates performance and payroll. To give a proper answer to this question, its advantages are mentioned in the following points to gain a clear view of its usage.
- It brings more accuracy to the salary calculation process
- It helps to keep employees better aligned with the goals.
- Allows managers to analyze their performance better
- Saves administration time as the managers do not have to collect the data of employees performance separately
- Generates better reports to analyze employee’s productive nature
- Helps in giving proper appraisals and incentives to the workforce
- Reduces cost of maintenance of two separate systems
- Rightly helps in increasing or deducting their salary based on their performance.
After reading this set of benefits, surely it is pretty clear that there are endless advantages of such a tool in your firm. Then let’s get information about the best software available in the market by taking our attention to the following point.
Top Tools To Integrate Performance And Payroll
Many companies are developing payroll and performance tools. They are making the management job much easier, faster, and effortless for every size of business. Among this vast pool of software, it is a tough job to pick the best and most suitable tool for your company. To help you out choosing the best one here, I have prepared a list of five software that are ranking at the top.
Paylocity is a simplified and automated platform that provides modern workforce solutions for small, medium, and large-sized companies. It is a complete software that helps to tackle all the payroll and HR challenges. The integrated software allows you to access all the required data without losing them. This tool can create unique score points and determine employees’ potential for achieving them accordingly. This will frame a two-way communication in the organization regarding the workers’ progress and their respective effect on their wages.
Such communication will be helpful to uplift the progress of the employees. Moreover, their performance information directly helps give appraisals or promotions based on their work. With the software, you can monitor the key metrics, which remains helpful in making smart decisions by using the visual dashboard. In addition to this, employees’ expenses are automatically added while calculating their salary to give the reimbursed amount to them.
2. APS Payroll
APS Payroll is one of the best workforce management platforms with an all-in-one payroll and HR application. All the aspects related to the workers, including attendance, leave, onboarding, and performance, are handled in a unified database. It automates the complete workflow of the core processes, which saves a lot of time for you. This also saves you from performing costly errors by remaining compliant. Beginning from recruiting the top talent to their retirement, every aspect is taken care of in this software.
This integrated tool reduces manual processing and brings more accuracy to the entire process. In addition, to better analyze employees’ progress, the tool provides an analytical view in the dashboard that remains helpful in making data-driven decisions. Multiple industries, including finance, healthcare, and hospitality, can use this software.
Here the entire lifecycle of the employees is managed well. Also, with the help of the ESS portal, both managers and workers can view in detail their performance metrics. The workforce can access and self-review their progress to streamline the entire process. This leads to more transparency and engagement of the employees. With the integration of payroll and performance, you can undertake their salary calculations without any errors within less time span.
Along with making you free from the tedious salary calculations, factoHR allows you to link employees’ performance. This unique solution removes all the hurdles that employers come across in managing the whole process. Its one-click salary processing feature calculates employees’ performance metrics and eliminates all the complexities. In addition, it is a cloud-based platform, so you do not need to worry about the accessibility and storage of employees’ data.
This will help to view employees’ productivity by analyzing it well with the in-build OKRs. Not only this, but the tool also entirely remains compliant with all the laws and generates accurate results. Here the reports are generated automatically, which remains helpful in analyzing workers’ payment details and performance. Furthermore, it helps to determine their productivity to make different decisions regarding their promotion. You can take advantage of all these features with the accessible configuration facility.
Besides all these features, attendance, leave, recruitment, onboarding, ESS, time tracking, travel, employee monitoring, and expense management are some of the other top modules of this software. With the simplified dashboard, employers and employees can securely see all the details whenever they want. This will make the workforce aware of the respective processes related to them.
Zenefits is a simplified and intuitive platform for effortlessly managing the people of your organization. It streamlines the overall workflow by connecting performance and payroll in one platform. By moving to such a digital platform, you can reduce the errors that occur due to manual data entry.
The fully integrated platform is easy to use, making it more straightforward to conduct wage calculations. The more advantageous feature of this tool is automatic sync with HR, which makes the overall management more effortless. It includes time tracking, attendance, leave, onboarding, and benefits administration.
Zenefit’s performance management tool is integrated with all the other platforms that remain helpful in making better decisions by combining data related to payroll, performance, benefits, and employee turnover. With the help of the mobile application, the employees can access the needed data whenever and wherever they want. Moreover, the tool allows arranging a one-to-one meeting between the managers and the workers to remain in proper sync. This helps the employee to better align with the primary goals and keep them engaged and accountable. According to Gallup, nearly 44% of the employees strongly agree they know how their work connects to their organization’s goal.
Paycom is one of the best platforms for digitally transforming your workplace. You can get all the needed information from a single database, eliminating the need to re-enter the data. It does so, as the HR and payroll are thoroughly connected with each other. Such an approach helps employers to search, hire, pay, grow and retain the top talents. With the unified solution, HR gets free from manual data entry and multiple system management.
The tool allows the workers to pay the right amount and on time to the workers. Also, you do not need to keep a constant watch and verify every employee-related aspect because of the automated workflow. Along with integrating the performance with payroll, the tool allows you to look into employee’s progress in an efficient and troubleless manner.
The performance management tool comes with many top features, which include self-reviews, goal assignment based on the individual’s skills, progress tracking, and many more. The tool also allows viewing the historic data related to the workers’ progress with just a few clicks. Here you can also develop a library of positions keeping in mind the necessary competencies and wage grades.
All these aspects bring more accuracy to the overall process. In addition, Paycom allows workers to undertake their own payroll by permitting them to manage all the HR-related data. Also, Paycom introduced Beti; a better employee transaction interface is developed. It identifies errors and provides necessary guidance to the employees to solve them. This approach makes the whole process more transparent and visible in the worker’s view leads to a more growing workplace.
Digital tools are innovating organizations and their practices. Furthermore, there are some important trends also driving businesses in the future. Digital applications plays vital role in deciding the future of business functions.
Saas tools are among the best applications that can be directly used through the internet, saving hardware installation costs. In it, even the integrated software reduces the considerable workload for every organization. The direct link between both these aspects allows managers to look into employees’ crucial matters without any hassle. To do so, refer to the above points and choose the finest tool based on your requirements to grow in this competitive market successfully.