Not a crisis for Human Resources
As the economy slows and seemingly every week bad news seems to point toward a business recession, Human Resource and Payroll Systems innovations can help companies better prepare to deal with the management of people, pay and benefits.
Having a GOOD Human Resource Management System (HRMS) is like having an optic nerve, you never really notice it unless you’re in Human Resources until it’s gone and you’re in the dark – literally. The solutions provided by Perfect Software empower companies to make wiser decisions upon how they manage their most important asset, the people who are their company.
With the shrinking of the economy, some businesses are unfortunately being faced with tough decisions to make, downsizing or “right sizing” scenarios are not uncommon as sales sputter and company budgets are cut. Many companies choose to cut unnecessary expenditures but eventually the tough decisions involving employees must be dealt with.
It is precisely during these scenarios where companies need vital data in order to help them make informed decisions about what to do. Where are the critical jobs, who are my best performers, where should the cuts be made and what financial impact will these cuts have on people and their associated costs. Not only are salaries affected but also benefits and taxes can have an impact on the bottom line. This in turn helps many companies to better understand and plan their course of action that will minimize the effects of downsizing.
How does this all work? By using more sophisticated Human Capital solutions, companies can quantify and analyze data in a logical manner and get customized reports and see the impact of changes to their workforce. Furthermore, these solutions can help to look ahead and aid in projecting into the future while analyzing the past.
This all means a more informed management staff and a more informed planning process. With a better information flow and more accurate data flowing into the hands of key decision makers, the outcome is often times much different from what would have been.
About the author.
Michael Gabriel is President and CEO of Perfect Software, an industry leading HRMS and Payroll Software Company with more than twenty years experience in the domain of human resource information systems. Perfect Software provides solutions to medium and large sized companies to help them tackle all aspects of Human Resources and Payroll. Perfect Software is a three time Deloitte and Touche ‘Fast 50’ winner, a Microsoft certified partner, and was recently selected one of the top technology firms in Connecticut.
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