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Mid-size companies have unique HR needs from those of large corporations and small businesses.
Mid-size companies have often grown from small businesses, leaving owners and managers scrambling to try to accommodate the higher volume of sales and larger number of employees. Since small business owners often spend 25 to 35 percent of their time managing HR needs already, the amount of time needed to manage a larger staff with more challenging needs can become unreasonable as the business grows.
Incorporating HR software that is specifically designed for the needs of mid-size businesses can help companies to adapt and prosper.
As a business grows, it’s important to hire to keep up with demands. Unfortunately, poor hiring decisions can cost a company dearly. Mid-size businesses may not have the financial buffer needed to weather several or many poor hiring decisions.
HR software can help mid-size businesses with hiring in several ways. The software makes it quick and easy for owners, managers, or hiring staff to post job advertisements for open positions across careers pages, job boards, and social sites. Interested candidates can often link directly to an application page that filters the applications into the HR software.
Once applications have been received, HR software can help mid-size companies raise hiring standards by assisting with background checks, presenting different modes of screening, and offering interviewing tools such as video interviewing. Recruitment modules or Applicant tracking system (ATS) software can be used to filter resumes and applications so that only the top candidates make it to these stages, saving time and money.
Once mid-size businesses pass a certain threshold, generally 50 full time employees, they are required to provide certain benefits to employees. Health insurance is one benefit that all companies operating in the United States must provide for employees. States and localities may also require companies to provide sick leave, vacation time, and other benefits.
HR software can help companies figure out benefit requirements, then administer and manage those benefits. This can take the guesswork out of benefits management, helping mid-size companies avoid penalties and smoothly transition into new benefits offerings. Beginning to offer benefits may also help attract top talent, HR software can help communicate thee offerings within job advertisements.
Employee and manager self service portals may seem unnecessary to small businesses that only have to communicate with a few employees and maybe a manager or two. For mid-size businesses, however, employee and manager portals can become valuable. Employees can view payroll, benefit, and PTO information, make requests, and make changes to personal information. Managers can post schedules, review time off requests, and approve information changes.
Reporting and analytics features can help mid-size businesses see what is working within their human resources strategies and what can be changed or improved. These tools make it easier to spot patterns and to track metrics that show how different tactics affect areas like turnover, labor, and absenteeism. This can in turn help spur further growth and prosperity.
If you are thinking about implementing HR software in your mid-size business, but don’t know where to start, we can help. Visit our vendor match page and let us assist you with finding the perfect solution for your mid-size business.