The landscape is growing at a tremendous rate when it comes to tools to help track employee engagement and productivity. It is important to be able to analyse things such as headcount, leave and attendance to help understand your most valuable asset, your employees. A quality payroll platform which allows employee and manager interaction can give businesses enormous insight.
With the market flooded with all sorts of products, it can be blinding and confusing to effectively choose the right platform that will give you the information you need whilst fitting within your budget. If you’re unable to increase your budget to accommodate these extra costs, it might be time to look at a great payroll platform, something that is essential to your business.
Payroll software is often overlooked when it comes to obtaining important statistics. Who keeps taking leave on Mondays, when do most staff want to take annual leave, ongoing absences and daily business salary costs are all important pieces of information. With a little ingenuity, along with the ability to create customised reports in line with your business requirements, conjuring a few analytics yourself shouldn’t be a problem.
So before looking at all the other platforms that will help you to succeed, start with the platform that is essential if you employ and pay people. Understand the metrics you need when choosing a payroll platform and make sure it has the tools that will give you the information that is important to your business. Headcount, turnover, absenteeism, salary costs, time tracking are all important analytics that can help you foresee employee trends in your business.