In life and in business there are constant trends. But how many of those trends actually affect our lives long term? Most of them come and go, leaving only a humorous (or embarrassing) memory to recount to the incredulous generations to come. However, sometimes true innovation is disguised as a trend. The difference being, true innovations don’t go away. The HR field is no different. There are numerous trends which have come and gone. However, there’s a growing trend in HR circles which is beginning to feel a lot more like true innovation: single platform systems. Here are three reasons single platform systems are around to stay.
1. Systems Without Payroll Don’t Make Sense
Strangely, some companies are choosing HR products which do not include payroll. This is leading to an awkward handshake between a payroll platform and an HR / Benefits platform which have been developed by completely different software teams. There’s no guarantee these two totally autonomous teams of developers had each other in mind as they worked. This creates a stumbling block as HR managers attempt to make two different systems work together. As HR teams grow more and more comfortable with completely digital, autonomous HR technology, they will increasingly be on the lookout for new tools to make their lives easier. They will likely lean toward all-in-one systems.
2. PPACA and Other Regulations
One huge factor in the industry is the challenge of complying with the constantly-changing Patient Protection and Affordable Care Act (PPACA) requirements. HR teams are searching for tools which will help relieve the stress of this process. A streamlined compliance tool is the best solution. The evolution of PPACA obligations is not about to stop, and HR managers don’t need multiple software system hand-offs to further muddle the issue. A single, streamlined platform makes the most sense to alleviate the burden that PPACA places on HR professionals.
3. A Tight Economy
Companies are scrambling to save as much money as possible. The Economic Research Institute (ERI) estimates that companies located in the U.S. are projected to see a 2.7 percent increase in budgets for 2016 due to increases in salary expenses, according to their recent report. While this is just one area of business, costs continue to rise in most other facets. As companies hold their purse strings more tightly than ever, the strain on each department to do their jobs with limited resources is increased. Unfortunately, the human resource department isn’t exempt. For this reason, a one bundle package that saves time and money is an excellent solution.
If you, like many HR professionals, are searching for a cost and time efficient solution in the modern HR world, you should contact SmarterHR. We combine all human resource capacities into one, straightforward HR software. We are the experts in seamlessly integrating the different aspects of human resources, benefits, PPACA compliance, and payroll into one innovative solution that the HR world needs.