Regardless of why you want an HR and Payroll Management solution you must be pretty careful while choosing the right solution for your company.
The two most common reasons in my view are
- When your current system is not able to manage the information
- There is a probability that your employee headcount is going to increase rapidly
“There are a lot of solutions in the market which promise you to provide the perfect solution on premise, on cloud etc. but you need to have what I call a ‘completeness in vision’ or the whole picture when choosing the right product.”
Few things to keep in mind when selecting the right product for your company is;
The first thing I advise to my customers is to have a draft of the whole company structure, policies and loop holes. Now, it might be a little time consuming but it saves a lot of money as you mention the requirements to the vendor upfront to avoid possible “Customization” costs.
- How big or vast do you want the solution to be?
- To what extent the vendor’s system matches your requirement
- How well does the system can be customized to your company policies without any additional costs
- How well does it Integrates with your existing/possible ERPs, Financial systems and Biometric Machines?
- Compliance with the labor laws
- Reporting is another important tool that you need to look out for
- Approval Matrices
- How does the system address your Paid leave, vacation management policies, Attendance and overtime?
- Compensation Management (Salary, Allowance, Arrears, Expense appraisal etc.), how well does it address your requirements. For example if your company is into offshore contracting your company may require the employees to be sent on projects and may have dynamic jobs and salaries accordingly so the system must uniquely address the same with complete approvals and time management
- Payroll is another important module altogether, In Payroll one must take care of what is being calculated how and how customizable the system is in terms of payroll adjustment, approvals and classifications of payrolls as per date designation etc.
- Apart from that you need to have built in bank file generation for WPS and non WPS Companies. Companies in free zones may choose to not avail the feature and may ask the vendor to reflect the same in pricing
Lastly you need to understand the usability of your product. i.e., how many people use the system do employees use it as an ESS (Employee Self Service) or only the administrators, managers and approvers. Accordingly you may choose to go for the company that quotes on the number of employees or user licenses.
I will add few points in the future if I remember. For now I will end my post without making it too long.
You may try hrchronicle.com I feel it manages to provide custom solutions in terms of HR and Payroll regardless of the organization structure and company size.