If outsourced HR still interests you, many HRIS vendors also offer administrative and strategic consulting services, sometimes referred to as managed services. Keep in mind that switching to an HRIS doesn’t necessarily mean you’re on your own.
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They help streamline manual processes, alleviate the administrative burden of HR and empower teams to leverage their people data to make strategic decisions.
#Namely hris software#
HRIS software is a great solution for growing companies and HR teams that have matured beyond using a PEO. This software is used by your internal HR team to help manage the company’s payroll, benefits, time entry, talent, and more.
Depending on your provider, this number can be even higher-admin fees as high as $160 PEPM have been reported.Ĭonversely, think of an HRIS as a tool-not an outsourced service. Typically, this “admin fee,” as the industry calls it, hovers around $100. The bigger your company gets, the more expensive the relationship becomes. Most PEOs charge clients per employee, per month (PEPM). Unfortunately for PEO clients, that convenience and “peace of mind” comes with a high price tag. PEOs are an option for companies without a designated HR professional looking to outsource all for their HR duties, like payroll, benefits, recruiting, and compliance management. The PEO handles all aspect of HR for the company, so employees can focus completely on other aspects of the business. Not sure if you’re ready to take the plunge? Here are some factors to consider before making the transition to an HRIS.Ī PEO manages human resources for small businesses, typically with fewer than 50 employees. Switching from a PEO to an HRIS can be a big change, but an exciting one. That’s when businesses switch relying on a PEO to relying on an internal HR team and Human Resources Information System (HRIS). While that arrangement might work for a while, there comes a time in every company’s evolution (typically around the 50 employee mark) where it’s time to get serious about HR and dedicate an entire team to it.
These entities take on all HR, payroll, and compliance responsibilities for their customers. To ease the burden, smaller companies often turn to professional employer organizations (PEOs). On top of their usual duties, that individual is tasked with managing all things compliance, payroll, and HR. At small businesses, these responsibilities are usually put on someone else’s plate, like an office manager or administrative assistant. While human resources play an influential role at every company, very few companies start out with dedicated HR teams. PEO to HRIS: Making the Switch Have you outgrown your PEO? Here’s what to consider when your company is switching to an HRIS.
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