Top 5 HRIS platforms: Read Before Choosing One

If you are looking for a way to streamline and optimize your human resources management, you might want to consider using a HRIS platform. But with so many HRIS platforms available on the market, how do you choose the best one for your business?

In this article, we’ll take a look at the top 5 HRIS platforms for 2023 and compare their features, pricing and benefits. We will also provide some tips on how to select the right HRIS platform for your needs and goals.

What is an HRIS platform?

An HRIS (Human Resource Information System) is a software platform designed to optimize the management of HR processes. The system automates routine HR tasks such as payroll, benefits administration, time and attendance tracking, and recruitment, among others. It also provides a centralized database for storing employee information, which can be accessed by HR managers and other authorized personnel.

What are the Benefits of using an HRIS Platforms?

Even though HRIS is a generalist, and might not provide you with the top performance when it comes to a recruitment task, it still offers basic tools to cover all HR responsibilities to help users get the job done.

HRIS consolidates all of the data into a single location that can be accessed by all of the people involved in the project. The information can be used for a variety of purposes, including performance evaluation, human resource auditing, and more. These features are designed to make all HR-related processes smoother and faster.

1. Improved Data Management: HRIS platforms allow for easier and more efficient storage, tracking, and analysis of employee data.
2. Streamlined Processes: By automating HR processes, such as onboarding and timekeeping, HRIS platforms reduce the time and effort required to complete routine tasks.
3. Increased Accuracy: Being able to eliminate the possibility of human error, HRIS platforms can help ensure the accuracy of important employee information, such as payroll data.
4. Enhanced Reporting: HRIS platforms offer a wide range of reporting options, allowing HR professionals to easily access and analyze data to make informed decisions.
5. Improved Compliance: With HRIS platforms, you can ensure compliance with labor laws and regulations, as well as internal policies and procedures.
6. Better Employee Experience: Employees can easily access their personal information, benefits, and other HR-related resources via HRIS platforms. As a result, their overall experience with the organization will be improved.
7. Cost Savings: By reducing the time and effort required to complete HR tasks, as well as the potential for errors and compliance issues, HRIS platforms can help organizations save money over time.

Choosing the Right HRIS Platforms for Your Organization

Selecting the right HRIS for your organization can be a daunting task. Here are some factors to consider when choosing the right HRIS platform for your business:

1. Identify Your Needs

The first step in choosing an HRIS platform is to understand your organization's requirements. Identify what HR tasks you want to automate and the features you need to achieve your goals. This will help you narrow down your search to HRIS platforms that meet your specific needs.

2. Consider the Scalability of the Platform

When choosing an HRIS platform, it's important to consider how scalable the system is. You want a platform that can grow with your business, accommodating any future changes in your HR processes.

An HRIS platform should be user-friendly and easy to navigate. It should have a clean and intuitive interface that is easy for HR managers and employees to use. The platform should also provide adequate training and support to ensure that users can get the most out of the system.

4. Security and Data Privacy

The security and privacy of employee data should be a top priority when choosing an HRIS platform. Ensure that the system uses the latest security protocols to protect sensitive data from unauthorized access or loss.

5. Cost

The cost of an HRIS platform can vary depending on the features and functionalities included. Consider the budget allocated for the system and choose a platform that offers the best value for money.

The Best HRIS Software Platforms

With the aforementioned consideration factors in mind, you will be able to choose the right HRIS for your company. Let's take a look at some popular HRIS platforms on the market now.

1. BambooHR

BambooHR is a popular HRIS platform known for its user-friendly interface and comprehensive HR management features. It offers features such as onboarding, payroll management, benefits administration, performance management, and time tracking. BambooHR also offers mobile apps for both iOS and Android.

Starting cost: $5.25 per employee per month for the Essentials plan; $8.75 per employee per month for the Advantage plan.

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2. ADP Workforce Now

ADP Workforce Now is a cloud-based HRIS platform that offers payroll and tax compliance, time and attendance tracking, benefits administration, employee management, and HR management. It also offers analytics and reporting tools to help businesses make better decisions.

Starting cost: $23.50 per employee per month for the Essential Payroll plan; $60.50 per employee per month for the Enhanced Payroll plan; $99.50 per employee per month for the Complete Payroll + HR plan; $158.50 per employee per month for HR Pro Payroll + Enhanced HR plan.

3. Gusto

Gusto is an HR and payroll solution that automates HR and benefits administration, payroll, and compliance. It offers features such as onboarding, time tracking, and benefits administration. Gusto also provides a mobile app for both iOS and Android.

Starting cost: $19 per month plus $6 per employee per month for the Core plan; $39 per month plus $12 per employee per month for the Complete plan; $149 per month plus $12 per employee per month for the Concierge plan.

4. Namely

Namely is an HRIS platform designed for mid-sized businesses. It offers features such as HR management, payroll, benefits administration, and performance management. Namely also provides a social news feed for employees to collaborate and engage with each other.

Starting cost: Not publicly available; contact vendor for a quote.

5. Paycom

Paycom is a cloud-based HRIS platform that offers HR management, payroll, time and attendance tracking, and talent management. It also provides a mobile app for both iOS and Android. Paycom’s unique feature is its Direct Data Exchange™ technology which allows for seamless integration with other systems.

Starting cost: Not publicly available; contact vendor for a quote.

Difference between HRIS Platforms and Recruitment Apps (ATS)

HRIS is a Non-Recruitment Related tool. Whereas the core purpose of a recruitment app is recruitment. HRIS is employee-centric software, it is applicable when the person becomes an employee of an organization. On the other hand, the Recruitment App (ATS) is candidate-centric software, it is applicable for candidates until they are hired. Moreover, HRIS is all about Payroll & benefits, and employee performance. The Recruitment app (ATS) is about workflow, compliance, and advanced hiring analytics.

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Conclusion

To sum up, HRIS platforms are powerful tools that can transform the way HR professionals manage their human capital. They can simplify and optimize various HR functions, such as employee records, attendance and payroll, performance evaluation, recruitment and onboarding, learning and development, and more.

By implementing an HRIS platform, HR managers can increase productivity, accuracy, compliance, employee satisfaction, and strategic alignment. However, not all HRIS platforms are created equal, and choosing the right one for your company is a critical decision that can have far-reaching consequences. Therefore, it is essential to evaluate your HRIS options carefully and select the one that meets your company's needs, budget, and vision.