An overview on how withholding taxes on compensation are carried out by firms. Discusses BIR Forms 2316, 1601-C, 1604-C, and Alphalist.
Implementing an HRIS is part of the digital transformation of businesses around the world. Not only does it make your HR more agile, an HRIS also adds value to your business.
In order to keep up with other countries, businesses in the Philippines need to implement an HRIS. It not only boosts your digital transformation efforts, HRIS also adds value to your business.
Human resource information system (HRIS) is a software solution that automates and streamlines HR and business processes. It automates HR processes and allows businesses to have a centralized data storage.
While there are already several HRIS available in the Philippines, most businesses still use manual processes for their HR tasks.
One reason is because they can’t find an HRIS that suits their needs. Hence, they are hesitant to allocate the needed budget to streamline their HR processes.
Another is that most businesses don’t know why they need to automate their HR. Thus, they overlook their HR’s needs for automation, and focus instead on optimizing production and services delivery.
How is HRIS valuable?
HRIS comes with various features and functionalities designed to automate HR tasks. From data entry to performance management, an HRIS can streamline almost any process to ease the burden from HR departments.
Cost-effectiveness, flexibility, and ease of use is a common feature of any HRIS. However, you can find its actual value in how it helps businesses achieve their goals.
Here are some ways HRIS adds more value to your business:
Automates HR processes
In the Philippines, small- and medium-sized businesses have less than five HR staff, while larger companies have 10 or more. This setup might work for now. But businesses who want to scale-up need an HRIS to help their HR manage and engage the workforce.
By automating the HR process, you can free your HR staff from time-consuming tasks. They can then focus more on addressing the changing needs of their employees.
Majority of today’s workforce are Millenials and Gen Z–two generations who have different needs and values. Freeing up your HR can help them engage your workforce better and tap into a larger pool of talents.
Streamlining your HR processes also allows your HR to gather and store data efficiently. We are now living in an age where information is key. By having accurate and readily available company and employee data, you can make more informed decisions about your business.
Each business has different needs. You can easily create and build on a mix of integrated functionality to suit your business needs. From leave policies to workflows, you can personalize the features to reflect your business’s brand and culture.
HRIS can also be scaled depending on the needs of the business. You can easily increase the number of users as our business grows.
Having the right HR can help your HR become more agile. It will also help them build a strong workplace culture, while improving the efficiency of your HR staff.
Easy to deploy and configure
HRIS offers easy to navigate dashboards and settings, so even your non-tech savvy HR staff can use it. Also, it can be configured based on processes and policies of your company.
While HRIS solutions were initially developed to handle administrative HR tasks, it can also be deployed to your entire organization. With the advancements in technology, businesses need HRIS more than ever to help monitor their employees’ performance.
An HRIS can be used by the whole organization not only for leaves management, but also for timesheet management. Most HRIS can also be configured to integrate with other software to increase efficiency.
Real-time Analytics and KPIs
HRIS helps you manage and set KPIs and target goals for each of your team. This can help you determine needs for employee training and development.
Also, you can gain further insights on employee retention, turnover, and succession. Thus, allowing for more informed decisions on how to drive business strategies and goals.
Most of all, HRIS can provide real-time data which you can access from anywhere and. With the advancements in today’s technology, data and information can be easily downloaded or viewed using mobile devices and tablets. HRIS provides similar features that allow businesses to monitor data on the go.
Improves employee experience
Creating a strong workplace culture is one of the core functions of the HR. An HRIS can free up your HR staff’s time. Thus, enabling them to focus on improving the culture of the organization.
HRIS also provides accurate data for strategic workforce planning. This enables your HR to identify competencies and boost employee motivation.
Businesses look at their employees as their most valuable asset. Hence, it is critical to find out their motivation and levels of commitment in reaching the goals of the business.
With proper data on hand, your HR can design better evaluation metrics and performance appraisals. Most importantly, they can identify skill gaps and redefine performance goals aligned with your employees’ skills.
An HRIS can help businesses develop better succession plans and improve the recruitment process. It can also help them create a better promotion and reward system for better employee experience.
Self-service and feedback
HRIS offers several self-service features for your employees. These include, but not limited to, requesting for leaves, absences, change logs, schedules or shifts, and overtime. Employees can also access their payslips and view their benefits and contriibutions.
Most HRIS allow HR staff to delegate the responsibility of approving such requests to immediate managers. This helps managers monitor their staff’s attendance and productivity. Moreover, it helps boost the engagement between employees and their immediate managers.
Depending on how your HRIS is configured, managers can also access the performance analytics for each of their staff. This allows for better monitoring of employees and more timely feedback on their productivity.
Managers can also assess and rate the performance of their staff better. Accurate information on productivity enables managers to better appraise and evaluate each staff member. This will also help managers find the right training and development program to boost their staff’s skills and competencies.
We are living in an age filled with uncertainties. Businesses need to have the right strategies and technology to help them pivot and recover in the changing markets.
Because of the current situation around the world, businesses have transitioned to a work from home set up. With an HRIS, you can enable your employees to access their employee data remotely.
HRIS is critical for a mobile workforce. Especially for employees who are working on-the-go, e.g. field workers, gig workers, etc.
An HRIS can help ensure that your employees maintain their productivity while working outside the office. It also guarantees business continuity during unprecedented disruptions.
How Hurey HRIS adds value to your business
Hurey is the most scalable HR and Payroll application in the Philippines. It is made by Filipinos, for Filipinos. As an HRIS, Hurey adds more value businesses in the Philippines.
Hurey is already configured to comply with legislative and tax laws in the Philippines. This includes payroll, contributions, and benefits calculation. It can also be personalized depending on your company policies.
Recently, Hurey has partnered with XERO, the leading accounting software for small businesses. You can automatically replicate your employee’s data from Hurey to Xero. Thus, allowing for a more accurate and faster payroll and accounting process.
Hurey has also partnered with GCash, the Philippines’ leading e-wallet. You have the option to disburse salary through GCash, enabling your employees to enjoy cashless transactions. GCash allows user to easily pay their utilities, transfer money, and even remit money to their families.
Hurey allows your HR to delegate the responsibility of all approvals to the immediate manager for each of your staff. Thus, enabling managers and leaders to monitor and manage staff availability and productivity better. They can access real-time information about their staff and easily approve requests, anytime and anywhere.
Hurey offers a unique cloud infrastructure using Microsoft Azure. Not only does it allow high availability, it also provides added data security and reliability. Hence, you can safely access all your company data online even when you are working at home or on-the-go. Also, since it is born in the cloud, it can be easily scaled to meet your workload and traffic demands.
Indeed Hurey, as your HRIS, adds more value to your business, which in turn enables you to offer better services. Request a demo now and find out how Hurey can help your business thrive.
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