The Best HR and Payroll Software for Small Business | TechFunnel
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The Best HR and Payroll Software for Small Business

The Best HR and Payroll Software for Small Business

Managing your HR processes – which include recruitment, payroll, compliance, benefits, and more – is a full-time job. Adding the right software solution can enable small businesses to enjoy more accuracy in their HR responsibilities, as well as a free up business owner or HR manager’s time to focus on other business components – particularly important when trying to grow a small business.

Automating HR processes with some best HR and payroll software can help the recruiter for efficiently hiring better talent by reducing the time and the cost of the company.

The benefits of using HR and payroll software

If you’re on the fence about implementing an HR management software solution for your small business, consider these benefits.

1. Automatic updates

Things like the Affordable Care Act and the tax legislation changes of 2018-2019 impacted HR teams and businesses all over the US. Having a cloud-based HR and payroll software solution means that updates to how this will affect your business can automatically be taken into account by the software for your organization. This saves your business time and also reduces the likelihood of mistakes in payroll or benefits administration.

2. Avoid costly errors

Compliance – like payroll deductions and proper tax payments – are important parts of the HR efforts of most businesses. Failure to act in accordance with HR and payroll law can mean hefty fines or legal issues for businesses, which no business is budgeting for and will no doubt have an impact on your financial bottom line.

3. Time management

A comprehensive HR software gives you better visibility into staffing and scheduling. Many programs give you the option to see and approve time-off requests and handle time cards from the same software that you use to manage and run payroll.

4. Employee empowerment

An HR and payroll software option with a self-service option means that employees can have more access to the HR resources they need. From employee manuals to direct deposit changes to time-off requests, the right HR software can give your employee better access and free up time for your HR staff.

5. Enhanced recruiting

HR software can help you make better hiring decisions and even increase the effectiveness of your onboarding. From smarter candidate sourcing to hiring with reduced bias, HR software can enhance your recruiting and hiring efforts across your whole organization.

The best HR and payroll software options

I. Bob

HR software solutions can automate paperwork and free up resources. One newcomer on the HR software scene – Bob – is very promising for human resource departments. From administrative support – like the ability to create customizable org charts – to talent management that helps set advanced employee and department goals, to the ability to assign, approve, and track attendance via G Suite and Slack integrations.

II. GreytHR

Internationally, GreytHR is a viable option for employers in India. It offers powerful employee lifecycle management options, such as tracking all company assets given to employees. Employers can access all employee records digitally, offering better security and organization of sensitive employee information. Employees can access their pay stubs, tax information, and other important information anytime from a convenient mobile app. It’s an HR and payroll software solution used by companies like Instamojo, Volvo, ProNature, and more.

III. HRMantra

HRMantra is an award-winning HR software used by employers in India. They’ve won the “Best HRMS Vendor” award from World HRD Congress in 2016 and 2018, as well as the “Innovation Award” from Nasscom Foundation in 2011 and “Customer Choice & Great UX” by Software suggest in 2017. They offer human resource management, leave management, performance management, recruitment options, payroll management, project and training management, and attendance and time tracking.

IV. GoCo

GoCo is a strong option for small businesses and startups. It’s been hailed by Inc., Forbes, and Huffpost as an innovative way to hire, reduce benefits and onboarding paperwork, sign and secure important data, sync with payroll, track employee requests for time off, and more. While their free version doesn’t offer custom org charts or other add-ons, you do get basic time off features, onboarding tasks, 2 “magic documents” (customizable templates), plus 12 months of team feedback history and other integrations.

If you’re struggling to figure out which software will work best for your business’s needs, remember that most companies will provide free payroll software demos to walk you through the features and benefits and answer any questions you might have, so don’t be afraid to take organizations up on this offer.

Some companies worry about the cost of subscribing to software, but most options include a “pay as you go” model that allows you the flexibility to pay a base fee plus a per-employee fee that can help you grow with your business and easily scale your workforce. Plus, the peace of mind and security offered by these solutions is priceless to some businesses – not to mention the compliance that can offer assurance that your business won’t face any legal or regulatory problems down the line. The benefits that businesses all over the world stand to gain from HRMS software – including cost savings and recruitment benefits that help them stay competitive – are obvious. Which HR software solution will your business choose?

Marianne Chrisos
Marianne Chrisos
Born in Salem, Massachusetts, growing up outside of Chicago, Illinois, and currently living near Dallas, Texas, Marianne is a content writer at a company near Dallas and contributing writer around the internet. She earned her master's degree in Writing and Publishing from DePaul University in Chicago and has worked in publishing, advertising, digital marketing, and content strategy.
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