Human Capital Management
HCM Also Means ‘Helping Companies Manage’ Payroll ‘Blind Spots’ and ‘Leaks’
There are so many “blind spots” and “leaks” out there. But in payroll, too? Yes, indeed. It’s a horrible feeling, of course, when you’re driving down the road and you want to change lanes only to notice at the last moment that there’s another vehicle in your blind spot. It can be quite unsettling. So...Read more
Game On: PrismHR’s HCM Solution Helps Clients Play the ‘Long Game’ in Employee Retention
Keeping the best employees is the name of the game and has been for generations. The longer they stay, the more it will benefit the organization. That’s especially true for smaller businesses with smaller bottom lines; they simply can’t afford to lose great people. They are hard to replace, and who can fill the void? Unless...Read more
Payroll Systems Integration: Out of Many, One
Payroll Service Bureaus (PSBs) exist for thousands of reasons. Those reasons are the clients they serve, multiplied by all the employees they handle, times the number of hours those people work and the various tax rates that apply, plus the withholdings for benefits and accounting for paid time off. It’s a job for specialists using...Read more
HCM Software: The Silver Bullet Against MTL Vampires?
In 2019, payroll companies in Texas received orders from the state’s Department of Banking to halt operations until they obtained a Money Transmitter License (MTL). If Payroll Service Bureaus (PSBs) were not aware of MTLs before, they sure were after that. Fortunately, the order didn’t take effect immediately, giving Texas payroll companies time to comply....Read more
HCM Software: Grow Your Business with Apple's Secret for Success
You may or may not know Apple started as a computer company. But they quickly discovered the margins were much better on software than on hardware. What’s more, the customer who bought one computer would license a lot more software. You may or may not also remember the iPod. It was a tiny little mp3...Read more
HCM Software: Making Clients Heroes to Their Workers
It has become an open secret that workers in a range of industries now live paycheck to paycheck. In addition to the stress this puts on their home life, a recent survey by PwC revealed it can have a measurable negative impact on their productivity and a company’s ability to retain employees. Properly equipped Payroll...Read more
HCM Software: Getting Clients to Work for You
The ideal relationship between an HRO and a client is one of partnership. That partnership exists because each has something the other needs. Traditionally, the client needs the HRO’s services like payroll or HR administration, and the HRO needs the client’s retainer. But that’s simply a vendor and customer relationship. A true partnership means the...Read more
HCM Software: 3 Ways Small HROs Punch Above Their Weight
The world of Payroll Service Bureaus, ASOs, and HROs tends to be divided into two categories: Big box players (or clients who feel safer working with a big HRO), and relatively small HROs who know their clients personally, understand their clients’ businesses, and deliver highly attentive service. While clients always appreciate better service, the...Read more
HCM Software: Winning the HRO Tech Race
In today’s tight labor market, competition for talent and related services can be ferocious. HROs of every kind—from Payroll Service Bureaus (PSBs) to PEOs—are looking for ways to grow their book of business, or just keep the business they have. Technology has long been an equalizer in commercial competition, enabling smaller firms to compete with...Read more
HCM Software: When a Tech Upgrade Becomes a Business Upgrade
Today, HRO providers of all kinds rely on software to connect with clients and help deliver services. Some of the earliest adopters were Payroll Service Bureaus who needed the platforms to service clients at scale. Now, the platforms these first users deployed are showing their age. The UIs aren’t intuitive. Their data security might not...Read more