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Effective hiring should be on every business owner’s list.
Here’s What You Need to Know About Effective Hiring and Business Credit
I once spoke with a small business owner who had recently won a multi-million dollar consulting contract with the U.S. government. This contract required him to seriously ramp up his operation with more employees and the additional infrastructure that he would need to accommodate the increase in headcount. A problem most small business owners would like to face, right?
He had a lot of experience working with government contracts. And he was familiar with the payment cycle for the invoices he regularly sent for payment. He knew he would be paid. But he also knew it would take over 30 days. This made it difficult to float all the ramp-up costs with his cash flow.
This is a common challenge faced by many small businesses that need to ramp up to service a new client or meet the demands of a new contract. Fortunately, this business owner could access borrowed capital to meet this short-term need. Fueling growth is a good use case for borrowed capital. His credit profile allowed him to meet the demands of his new government contract without the insurmountable cash flow burden that would have otherwise been required.
Proactively approaching your credit profile today, to turn it into a tool that you can strategically leverage to foster growth when needed—which often means hiring more employees—should be top of mind for every small business owner.
Learn more here and get started with building business credit with your company’s EIN and not your SSN. Get money even in a recession and put it toward more effective hiring!
Building Your Credit Profile into a Strategic Tool
Building a strong credit profile isn’t rocket science. But it isn’t something that just happens either. What’s more, if you have a less than perfect credit profile, it isn’t going to change overnight. Slow and steady wins this race.
For most small business owners in the United States, your personal credit score will be a part of every business creditworthiness conversation so it’s important to understand what lenders see when they look at your personal score. Fortunately, so far as personal credit is concerned, your score is easy to translate. Here is what it means:
Above 800 (excellent)
A credit score of 800 or better puts you in pretty elite company. Borrowers in this range are considered consistently responsible when it comes to managing debt. They have a long history of no late payments. Plus they carry low balances on their personal credit cards. They are considered at low risk of default.
740-799 (very good)
This is considered a very good score and tells lenders you are generally financially responsible when it comes to money and managing your personal credit. Although you may have an occasional late payment, most of the time you make timely payments on your personal loans, credit cards, utility payments, and mortgage. It also indicates that the balances you carry on your personal credit cards are generally low (below 30% of available credit).
670-739 (Good)
If your score falls in the upper part of this range, you are a little better than the average U.S. consumer whose FICO score is around 704. Although this borrower shouldn’t have too much trouble obtaining financing, there will be some options unavailable to them. Although they are unlikely to be offered the same low rates and favorable terms of those with Very Good or Excellent credit.
580-669 (Fair)
Borrowers in this range may have a few dings on their credit history, but no serious delinquencies. It’s still possible to get financing. But it will not be at very competitive rates. There will be limited options.
Under 580 (Poor)
This score represents what could be multiple defaults on different loans from different lenders. It could also represent a bankruptcy, which will remain on your credit report for 10 years. Borrowers with scores this low will have very limited business loan options. They should expect to pay some of the highest rates on business financing if approved. Borrowers with a score in this range should focus on repairing and rebuilding their score.
No Credit
Although there is a difference between Poor Credit and No Credit, the results are similar. When building a personal credit history, don’t be afraid to start small. Make sure you pay your utility bills and meet your other personal financial obligations in a timely manner.
Now that you know what your personal credit score means, you need to know how it’s calculated so you can take the right steps to build or improve your score.
How is My Personal Credit Score Calculated?
Most of the personal credit reporting bureaus base their credit scores on the FICO score. Although if you check your score with different reporting agencies there might be some slight differences, the basis for those scores is all the same. Here is the formula:
35% Comes from Your Payment History
In other words, the single most important thing you can do is to make each and every periodic payment in a timely fashion. Most creditors understand the difficulties people are facing right now. But that doesn’t mean you’ll get a pass. It’s important to stay current. Do not let a debt obligation go 60-, 90-, or 120-days past due.
30% Comes from Your Debt to Credit Ratio
In other words, the ratio of debt you use compared to the amount of credit you have. The credit bureaus don’t like to see maxed out credit accounts. A good rule of thumb is to keep that ratio below 30% (lower is even better). But anything over 50% is a big red flag that will keep your personal credit score in the basement.
15% Comes from the Length of Your Credit History
Lenders are trying to make decisions about what you will do in the future based on what you’ve done in the past. So a longer track record is better than a shorter track record. You’ll probably get some allowance for the first half of 2020. But if you have chronic credit problems dating from before the crisis, you need to get to work on making improvements to your credit habits.
10% Comes from the Type of Credit You Use
For example, credit bureaus look at mortgages, auto loans, credit cards and other revolving debt through a different lens. Creditors want to see a mix of credit. So if the only credit account you have is your mortgage, a little diversification will help your credit score.
10% Comes from New Credit Inquiries
While it’s true that new inquiries can impact your score, the amount of impact is relatively small. That is particularly true if you are consistently current with your payments and aren’t maxing out the limit on your credit cards every month.
Before we talk about how to improve your credit to maximize your ability to access borrowed capital to hire new employees or otherwise ramp up for a new contract, we need to address business credit. What makes it different from personal credit and some of the synergies created by a strong personal credit score and a robust business credit history.
Learn more here and get started with building business credit with your company’s EIN and not your SSN. Get money even in a recession and put it toward more effective hiring!
How is My Business’s Credit Profile Reported?
Like the credit bureaus that report on your personal credit history, there are business credit bureaus that report on your business credit history. They consider how you pay your suppliers, your landlord, your utilities, your business credit cards, and how you may payments on any other business loan or business debt you might have.
With the exception of the FICO SBSS credit score, which is a composite of your personal and business credit used by the SBA to evaluate a loan application, you should consider your business credit as typically a collection of scores, rather than one universal score like your personal score. Every business credit bureau creates this profile differently. So no two business credit reports will look exactly the same. Regardless of how long you’ve been in business, you have a business credit profile that includes detailed information about your business and your business credit history.
Your Business Credit Score is Different
Although your personal score is considered private, your business profile is public to anyone who wants to see it. The basis of your business profile is whether or not the majority of your credit interactions are positive or negative. The goal here is to meet all your business obligations as agreed upon.
Additionally, your credit history is a measurement against other businesses in your industry. And this includes if they are considered more or less risky from a credit perspective. Your history is also compared to other businesses in your region, of your size, and annual revenues. This is to make a recommendation to creditors on your business’s potential creditworthiness.
Improving Your Business Credit Score
Irrespective of personal or business credit, the single most important thing you can do to build a positive profile is to make your periodic payments in a timely manner. If you want to build your credit into a strategic tool you can use to fuel growth, here are 4 things you should start doing today:
Make Sure Your Profile is Accurate
There is a lot of negative credit activity going on right now. Plus, it’s easy to confuse businesses with similar names or addresses. So it’s more important than ever to make sure the things reported about your business are accurate and reflect your credit practices. If you find an error, all the major business credit bureaus have mechanisms to correct the mistakes you can verify.
Keep Your Personal and Business Credit Separate
This can be hard for young businesses that don’t have a lot of business credit yet. But using your personal credit for business credit purposes not only doesn’t help your business profile, it could actually hurt your personal credit score. Since 30% of your personal score comes from how much credit you use compared to how much you have, the higher balances often associated with business expenses can negatively impact your ratios. If you want to keep your personal score as strong as possible, while building your business profile, avoid the temptation to use your personal credit to pay for a business expense.
Establish Trade Credit Accounts with Your Suppliers
This is one of the most underrated ways to build a strong business profile. Most vendors are willing to offer payment terms to their good customers. Although it’s not a business loan, if they report your good credit behavior to the appropriate credit bureaus, this valuable credit will help you build a strong business credit history. This will enable you to borrow when you really need to.
Use the Credit You Need and Stay Current
Businesses large and small leverage borrowed capital to fuel growth and fund other business initiatives like effective hiring of new employees. The biggest thing you can do to build a strong profile is to use the credit you need and make sure you make every periodic payment. Lenders look at your history because they want some assurance that you will make timely payments to them. It helps if they can see you’ve done so in the past.
Learn more here and get started with building business credit with your company’s EIN and not your SSN. Get money even in a recession and put it toward more effective hiring!
Effective Hiring of New Employees Can be Expensive
Effective hiring of new employees often includes expense beyond the addition of another paycheck. For some companies it might be a new computer and workstation. For others it could be something else. Most of these upfront expenses are relatively short term. So many small business owners opt to finance them with either a business credit card or even a small business loan depending on the cost. The business owner I described at the beginning of this article opted for a small business loan.
He had worked to build his credit profile so he could use business financing as a strategic tool when he needed it. So he could borrow the money he needed to ramp up employees and infrastructure to service the new contract. And he could repay the loan once he started to get regular payments from his government contract.
Effective Hiring and Business Credit: Takeaways
As a small business owner accessing borrowed capital has always required a good personal and business credit history. But especially now, many lenders are tightening their qualification requirements tighter than ever. So it will be important to make sure your profile shows you in the best light possible. Of course, it’s no guarantee you’ll get the financing you want. But it will give your business more options to choose from—as well as put your application on the top of the pile.
Although Pinterest is often regarded as the go-to platform for pinning recipes and home décor ideas, it’s also a powerful digital marketing tool.
More than 416 million people visited Pinterest each month to explore and categorize ideas they love. While you may think of Pinterest as being in the social media family, it’s also a powerful search engine.
Pinterest has become a leading source of social revenue for many companies, especially e-commerce. You’d be remiss to not take advantage of this platform to expand your web of influence and turn fans into customers.
Pinterest recently surveyed pinners to learn how they use the site for shopping. The results show that Pinterest influences what people buy, which brands they choose, and how much they spend. Noteworthy stats include:
72% say Pinterest inspires them to shop when they aren’t looking for anything.
70% discover new products on Pinterest.
90% say Pinterest helps them decide what to buy.
78% say it’s useful to see content from brands on Pinterest.
66% buy something after seeing a brand’s pins.
59% use Pinterest to find more information about their purchases.
With these stats in mind, let’s dive into how people search on Pinterest, how the Pinterest search algorithm works, and how to leverage Pinterest SEO.
How Does Pinterest’s Search Algorithm Work?
Let’s get back to the basics. As a Pinterest user, you can save or “pin” any image you find online. By creating different boards and categorizing your collections, you can compile and streamline the topics you care about. Most images, when pinned, are linked to the original websites they’re from.
Say you’re looking for a new pizza recipe. You can easily search for that phrase on Pinterest and sort through many pizza recipe images and options. Once you select the one you want, you can save it to your own board, making it visible to your followers.
How does Pinterest know what content to serve up when you search for something? There are four main factors that influence search results:
domain quality
pin quality
pinner quality
topic relevance
What does each of these mean? Domain quality refers to what Pinterest deems to be your website’s quality. Pinterest knows how many items were pinned from your site. Be sure to pin consistently, enable rich pins on your account, and create high-quality content that garners engagement.
Pinterest determines pin quality by its freshness, popularity, and the amount of engagement it receives. Pinterest tracks all instances of your pin. For example, if a pin is on your board and someone else shares it to theirs, Pinterest will measure the engagement from every instance of the pin. Improve pin quality by creating enticing graphics and stimulating content people will want to share.
Pinterest assesses how active you are and whether your content is well received to assess your overall quality as a content creator and pinner. Enhance your pinner quality by being active, sharing popular content, increasing saves, and engaging with followers.
Topic relevance refers to keywords. Similar to the way Google functions, keywords affect what appears in Pinterest search.
Pinterest as a Search Engine
You are using the Pinterest search engine to drive traffic to your own website. Pinterest debuted The Taste Graph in 2017 to enhance targeting. They said:
By understanding people’s evolving tastes, preferences, and interests, the Pinterest Taste Graph connects the millions of people on Pinterest to hundreds of billions of fresh ideas that are just right for them. It’s how we surface the perfect ideas for each Pinner, helping them find fresh ideas to love as they move through the various stages of planning their lives.
Pinterest spent years refining their understanding of user behavior and turning it into an actionable resource for businesses.
We often talk about Pinterest as like a human indexing machine. Google built these crawlers that would go out, and these amazing algorithms. We give people tools that let them organize in a way that makes sense to them, and in doing that they organize in a way that makes sense to other people.
You must show Pinterest that your pins are relevant to the terms users search for. Relevance refers to how closely your pin fits your audience’s interests, recent search history, and distinct searches.
Pinterest’s engineering team shared an overview of how they extract and assign keywords to pin images. Pinterest assigns pins keywords called annotations that are between one and six words long. They then assess your pin’s relevance to these keywords with a confidence score based on the quality of the information extracted (text-based keywords are more highly rated) and how many times that keyword appears.
In this graphic, the two Maseratis are more like one another than they are to the Honda. This is reflected in the cosine similarity scores.
How to Optimize Your Pinterest Boards
Create Pinterest boards strategically, and pin and repin relevant content to build a strong presence.
How does Pinterest know which cars to compare? By keywords. You should include keywords in your board names, board descriptions, and in the descriptions of each photo you pin. This tells Pinterest how to categorize your pins and content. To optimize your content, start by doing keyword research. Search Pinterest for terms that correlate to your audience and industry.
As you type, Pinterest auto-suggests a variety of terms to help you narrow down your search. Make note of these terms.
Add them to your pin descriptions, board titles, image text, and profiles. You should also integrate relevant hashtags with corresponding phrases.
For example, CaféPress has Pinterest boards for various product segments. Clicking on their pin highlighting masks for kids showed a thorough description comprising a variety of relevant keywords.
Note that they integrated “Kids Face Masks” into both the title and description. They included a variety of adjectives people may use when searching for masks: reusable, washable, and comfort.
The image is appealing for kids too. By using effective pin images and optimizing pin designs with a consistent look and feel across all the pins on their board, CaféPress tailored their content to how people search on Pinterest.
Pinterest for E-commerce
Pinterest simplifies the online shopping experience by making it easy to search for products. If your goal is to sell on Pinterest, set up a Pinterest Business Account, which comes with an array of personalized support, creative strategies, and campaign guidance.
A business account also gives you access to analytics and ads. As you add more content to your account, you’ll be able to collect data on views and engagement.
It’s critical to optimize your website for Pinterest users. Consider people who may want to pin items from your site to their boards.
Start by adding the Pinterest tag to your website to track conversions.
Also, add share buttons to your product pages. This encourages visitors to follow you on Pinterest and share your products with their networks.
Sellbrite points out that Forever 21, a women’s clothing brand, does a great job of this.
Clicking the share button takes visitors to Pinterest. There, they can pin the products they like.
This can encourage interactivity on your website, and keep your customers engaged with your brand across the digital landscape. Plus, when you have the Pinterest tag in place, you can leverage the data to create targeted advertising campaigns.
The Ultimate Pinterest Marketing Guide provides more explanation and case studies. It dives into a variety of tools, settings, categories, and other elements that can make or break your approach to Pinterest SEO.
Shopping: Buyable pins allow users to buy instantly
Carousel: Users can swipe through multiple images in one pin
Collections: Mix lifestyle photos with product images in this ad format
Select the ad type that makes the most sense for your brand. For example, if you have a more visual-oriented product, a video or carousel ad may be the best fit. If your company offers a service or experience, collections would likely be best suited.
Pinterest user Jess Bahr compiled a Pinterest board of Pinterest ad examples. The board features numerous businesses and ad types.
One Pinterest success story is BlendJet, which saw 2x better sales. The company turned to Pinterest for a highly visual campaign highlighting the blender’s portability, versatility, and design, and saw its sales double as a result.
Video ads acted like product demos, showing how the blender works. Meanwhile, standard ads depicted scenarios for using the BlendJet One, from in the car to on the trail. The company’s campaigns have now offered an 8x return on investment (ROI).
Conclusion
While Pinterest SEO may seem intimidating at first, it’s simple to navigate once you get the hang of it. If you’re looking for a proven method of driving brand awareness as well as website traffic, Pinterest is worth exploring.
Remember, over 400 million people visit Pinterest each month, and 90% of those users make buying decisions on the platform.
Disclosure: This content is reader-supported, which means if you click on some of our links that we may earn a commission.
Human resources can be a tough department to manage. From hiring to onboarding, employee scheduling, and HR compliance, there are dozens of responsibilities being juggled.
What if an employee wants to view an old paystub? How does someone access information about their vacation days or benefits?
Without the right technology, it’s a hassle for everyone involved.
That’s why HR software has become so popular over the years. Businesses of all sizes across every industry are leveraging these tools to reduce bottlenecks and improve workflows in their HR departments while simultaneously improving the employee experience.
Interested in getting HR software, but don’t know where to start? You’ve come to the right place.
There are hundreds of different HR software options on the market today. But these solutions are definitely not created equally, so you can’t just blindly pick one and assume it’s going to be the right fit for your business.
As you’re shopping around, these are the features and considerations that must be evaluated:
Employee Self-Service
HR software with an employee self-service portal is a must-have in today’s day and age. This portal will give your staff access to crucial information, without having to call, email, or physically visit the HR department.
Want to access the employee handbook? Log in and look it up. Have questions about your benefits? It’s available in the portal. Need to request a day off? Just a few clicks away.
All of this information, and more, is available 24/7. So if one of your employees is sitting home on a Saturday night and wants to look at an old paystub, they don’t have to wait until 9:00 AM Monday morning to call HR.
As a result, everyone on your team will be more productive, and your HR staff won’t be wasting time answering questions all day.
Mobile Access
The best HR software will have a free mobile app.
This app can be used on the employee side for the self-service tools mentioned above, but it’s also helpful from an administrative perspective. HR managers and other admins can complete tasks and view important information in real-time from anywhere. HR responsibilities won’t be tied to a physical office.
In some cases, you can even use these apps to communicate with your employees. They can opt-in for notifications delivered straight to their devices, which can reach them faster than an email.
Payroll and Benefits Administration
The vast majority of HR solutions will allow you to run payroll directly through the platform. This isn’t necessarily a make or break feature; it depends on your personal needs.
But since HR and payroll typically go hand-in-hand, lots of businesses look for an all-in-one solution for the two.
If you’re happy with your current payroll solution and don’t want to switch, that’s fine too. See if you can find an HR software that integrates with whatever you’re using for payroll. Your HR team and employees will like having access to everything from a single place.
Automation
Efficiency is the main concept behind using HR software. Nothing is more efficient than automating repetitive tasks.
Look for software that eliminates manual labor. For example, some HR tools will automatically track and calculate time-off requests, taxes, government filings, and more. Think about how much money you’ll save in labor hours if you can eliminate even just 5-10 hours per week on these types of tasks. At scale, the savings are astronomical.
Company Size
Another way to narrow down your choices is by looking for software that fits the needs of your business size.
A small business with 15 employees won’t have the same HR needs as an SME with 150 employees or an enterprise with 1,500 employees. It sounds simple, but so many companies overlook this aspect.
Larger organizations will have more complex HR needs that some software just won’t accommodate. On the flip side, small businesses usually won’t need all of the features offered by certain HR solutions.
The Different Types of HR Software
HR software is actually a pretty broad term. As you know, there are so many different aspects and components of human resources. Here’s a brief overview of the main types of HR software available on the market today.
HCM Software
HCM stands for “human capital management.”
This type of HR software primarily focuses on how individuals are managed within a company in terms of systems and HR policies. Talent management is a large component of HCM software. It’s common for HCM tools to have features for onboarding, performance management, salary planning, training, succession planning, benefits administration, and more.
Lots of HR professionals consider HCM software to be an advanced version of HR software.
HRMS Software
HRMS stands for “human resource management system.”
In most cases, HRMS software will include lots of the HCM software features. But there are two characteristics that all true HRMS solutions have in common—payroll and TLM (time & labor management).
Not every HRMS software will have employee scheduling features, but many do. There are standalone software products for time & labor management that are commonly referred to as “workforce management” software. But these typically fall under the umbrella of HRMS.
HRIS Software
Human resource information system—or HRIS for short—is a tool built for managing people, policies, and procedures.
HRIS software typically includes all core HR features. But this type of software will usually have solutions for absence management, benefits administration, recruiting, compensation management, workflows, self-service portals, training, employee development, and reporting.
Lots of this can be open for interpretation from software to software, but these are the core components you’ll likely find in an HRIS solution.
ATS Software
ATS software is an “applicant tracking system.”
This is a very specific type of HR software. In many cases, ATS software gets branded as a standalone product without core HR features. But with that said, lots of all-in-one HR solutions have features for applicant tracking.
ATS software is highly beneficial for companies who are recruiting and onboarding at scale. The software makes it easier for you to find top-level talent, qualify them, schedule interviews, and onboard new hires.
Payroll Software
Larger businesses may have separate departments for HR and payroll. But in most cases, the two go hand-in-hand. Payroll is typically considered to be a component of HR. Some of you might already be using an online payroll provider.
Not every HR software has payroll features (although many do). And not every payroll software has every core HR feature. This is another scenario where lots of payroll solutions are branded as standalone products from HR. But there are plenty of all-in-one HR solutions that include payroll processing capabilities. However, this is usually an add-on package.
#1 – Namely Review — Best HR Software For Employee Self-Service
Namely is an all-in-one solution for HR, talent management, payroll, and benefits. The platform makes it easy for businesses to improve their HR processes while remaining compliant. It’s trusted by 1,400+ organizations worldwide.
The software is actually branded as a “people operations platform.” It includes features for employee management, onboarding, talent management, recruiting, time and attendance, analytics, and more.
I’d say that Namely definitely falls into the HRIS category.
I like Namely because the software is designed to improve employee engagement. It gives your staff access to all of the HR information they could possibly need from an easy-to-use employee portal.
The software can be accessed from anywhere from the Namely mobile app. You can even use Namely to share company news, improve communication, and set up a company directory.
Namely’s core HR package comes with tools and features like:
Onboarding
Performance and goal tracking
Task lists
Time off management
Compliance database
E-signature
Employee self-service and workflows
Custom fields
Then there are add-ons and extensions for things like payroll, benefits administration, recruiting, time & attendance, and managed services.
Overall, Namely is a good fit for midsize organizations.
#2 – APS Review — The Best HR Software For Payroll
The acronym “APS” actually stands for “Automatic Payroll Systems.” As this name clearly implies, payroll is their specialty.
But with that said, APS is not a standalone payroll software; it’s an all-in-one solution for HR and payroll alike.
In addition to payroll, APS has HR features for benefits administration, performance management, employee scheduling, recruiting, onboarding, compliance, employee self-service, and more. They also have industry-specific solutions for healthcare, restaurants, wholesalers, nonprofits, manufacturing, hospitality, financial services, and other unique categories.
Let’s take a closer look at some of the top benefits of using APS for payroll:
Streamline tax compliance with accuracy, timeliness, and wage garnishment
Automate your tax system to reduce your burden and risk
Reduce time spent processing payroll with paycheck reconciliation
Automate federal, state, and local tax filings
Improve your efficiencies and reduce costs with paperless payroll processing
The self-service tools provided by APS are outstanding; on the employee end and administrative sides alike.
More than 2,000 businesses across different industries rely on APS. For those of you looking for an all-in-one solution for HR and payroll, APS should be at the top of your list.
#3 – BerniePortal Review — The Best HRIS Software
BerniePortal isn’t as well-known as some of the other HR solutions available on the market today. But that shouldn’t be a reason for you to pass up on considering it. In terms of HRIS software, BerniePortal really has everything you could possibly need.
For those of you who want to use technology to improve the total lifecycle management of your employees, BerniePortal should be at the top of your list.
BerniePortal was founded back in 2008, so they have over a decade of experience in the HR software space. The software has been deployed in 5,000+ HR departments in all 50 states, and it has 210,000+ active users.
Why BerniePortal? Let’s take a closer look at what this HRIS software has to offer.
Attract and retain top-level talent with benefits administration
Compliance, custom enrollment, and payroll reporting
Improve productivity and engagement with seamless employee onboarding
Collaborative hiring decisions with built-in applicant tracking features
PTO tracking, time-off management, and custom policies
Tools for time and attendance tracking with detailed reporting
Mobile access with employee self-service tools
Performance management and compliance features
You can even use BerniePortal for things like IRS filings. While the software doesn’t have built-in payroll features, it can seamlessly integrate with your existing payroll system.
Most of the BerniePortal features start at $5 per employee per month, with a $15 base fee.
#4 – Workday Review — Best For Human Capital Management (HCM)
Workday is a popular HR software with a unique twist. Every component of the tool is focused on finance. It helps you manage your HR processes while always keeping your bottom line in mind—all from a single platform.
The software is used by industry leaders in a wide range of categories. Some of the well-known companies that rely on Workday include Visa, Toyota, Salesforce, CE, Target, Charles Schwab, and Adobe.
Overall, Workday is pretty versatile. The software has solutions for human capital management, talent management, enterprise planning, payroll and workforce management, spend management, and more.
Workday is robust, but also really easy to use. You’ll benefit from features like:
Automation to eliminate manual work and improve productivity
Advanced analytics to guide decision making
Improve communication and engagement
Machine learning to identify employees’ skills
Time tracking tools
Compensation, payroll, and benefits administration
Employee directories and self-service tools
The software can also adapt as your HCM needs evolve over time.
Another reason why Workday ranks so high on our list is because of its industry-specific HR solutions across a wide range of categories. Some of these include healthcare, government, hospitality, insurance, manufacturing, professional services, energy, and more.
#5 – Kissflow Review — Best HR Software For Onboarding and Applicant Tracking
Kissflow is one of my favorite tools for managing HR processes. It’s a top choice for businesses that want to improve the talent management aspect of human resources.
The software comes with features for applicant tracking, employee onboarding, attendance management, absence management, leave management, and employee offboarding.
With Kissflow, you’ll benefit from features and functionality like:
Get open jobs in front of top-level talent at the perfect time
Improve employee engagement
Employee self-service tools
360-degree feedback and evaluations
Customizable HR solutions
Kissflow is definitely designed for larger teams. Pricing starts at $690 per month, which includes 100 users. Enterprise rates with unlimited users start at $1,290 per month.
The downside of Kissflow is that it’s not a true all-in-one HR solution. It focuses on certain areas but lacks functionality for things like payroll. With that said, Kissflow does have a wide range of integrations, so you can sync it with your existing tools.
Summary
Every business can benefit from HR software. This statement holds true regardless of your company size or industry.
But before you finalize a decision, make sure you go through the process explained in this guide. Figure out what type of HR software fits your needs the best, then follow the methodology that I explained earlier.
The five solutions recommended in this guide will be the best place for you to start your search.
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