November 17, 2021

How great payroll & HR software will help you hit your KPIs

KPIs, you know those things that help pay your bonus. While KPIs for payroll & HR departments vary from business to business, here is how clever software can help you achieve them.

Employee turnover

As the people-people of the business, many HR departments take ownership of employee turnover. It’s no surprise that happy employees stay where they’re for longer. A survey from clutch found that the most important workplace values for full-time employees are fair pay (55%) and fair treatment (54%). While salary goes a long way to keep employees in the workplace, and HR departments should be benchmarking salaries, employee retention feeds of a whole number of things, like employee benefits packages, wellbeing, culture and much more.

While we know what causes poor retention, it can be harder to track it. Enter stage left brilliant payroll & HR software. Robust and trust-worthy people analytics tools will track things like exit rates. If your software is really clever it won’t just give you a holistic view, but also enable you to drill-through data into exit by department, location and even as close to things like line manager and rate of employee exit.

Rate of absenteeism

If your KPIs are based on reducing absence, ‘finger in the air’ and ‘gut feelings’ aren’t going to be good enough. Great people analytics data will enable you to spot trends in your absence data. Maybe employees are conveniently ‘sick’ after large sporting events, or one department has an issue with continued absence.

Once you have the data (that’s where your software can help) it’s time to think about how you put this data into action. You might need to address your policies, amend rules relating to sick pay in your software and so on.

Think you might have an issue with absence in your business? Check out our Absence Management Support that aims to help businesses tackle absence head-on.

Average recruitment time

Getting the right people in the right places will have a dramatic impact on business performance. So as the people putting staff there it seems only right that HR departments measure success against this. Great software will automate areas of this recruitment to save teams time and drive down how long vacancies sit open. Think about information pulling from hierarchy and organisational design to flag when there’s a vacancy, auto-publishing into job boards and automated candidate databases building in the background.

Employee development

According to LinkedIn, 94% of employees would stay with a company longer if there was an investment in learning. So, if one of your key KPIs is retention it’s going to go hand in hand with employee development. In a post-pandemic world where we’ve proven that classroom learning is so 2019, virtual learning is the way forward. Payroll & HR software can facilitate online learning though Learning Management Solutions. Frequently these platforms have the ability for employees to auto-enrol, businesses (maybe even HR departments) to set up their own courses and assign them to core user groups.

Employee satisfaction

Measuring employee satisfaction is no easy task. HR professionals use employee surveys to measure satisfaction, gauging employee happiness through things like pulse surveys. Clever payroll & HR software will run, automate and collect this data for you. And as if by magic, it will tie all that data in a lovely little bow in the shape of a clean dashboard.

That means no more manual manipulation of data in excel to ‘somewhat’ put a number to employee satisfaction – it’s already done for you.

Did hitting your KPIs really just get easier? Check out our HR Software today.

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About the author

Molly Chapman

About the author

Molly Chapman

Molly Chapman is the Product Marketing Manager at Moorepay, having joined our team in 2020. In short, Molly helps bridge the gap between our products and the customer: communicating the benefits and technical details of our products to ensure that our customers get the best out of Moorepay’s payroll & HR software and services. Working for many years in product marketing, most notably within the travel industry, Molly has an established background in bringing value to her client base. Outside of work, Molly enjoys experimenting with vegetarian cooking, walking the dogs and a good B&M bargain.

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