Home > Resources > Articles > Choosing the Most Practical HR Software Solution in 2022

Choosing the Most Practical HR Software Solution in 2022

Shefali Vasave | September 16, 2021 | 511 views

Ever since managing a remote workforce became the number one HR challenge, HR tech had to configure a new way to keep up with the changing demands. If you are looking to ramp up your organization’s HR tech ecosystem but don’t know where to start, you are not alone.

According to a PwC study, over 74% of organizations plan to increase their HR software budget. However, with the advent of new technologies, you are spoiled for choice when it comes to the tools, features and integrated solutions at your disposable.

But which one goes best with your organization’s specific HR objectives?

Next-generation HR systems like cloud people management, automation and Artificial Intelligence (AI) are helpful to know. But do you need them?

Before answering this, you must understand why you need to have a seamless and robust HR system and how to pick a human resources application software that’s the right fit for you?

Why do you need robust HR software for your business?

Have you ever wanted to optimize a business process, automate repetitive tasks and implement algorithms to make smart decisions? The right HR software can do that and so much more. But, just like any other business process, HR needs a robust application to make it effective and resourceful.

The demand for HR software is set to cross $10 billion by 2022. Additionally, the HR tech landscape is ever-evolving. With new technologies coming to the fore, this is the right time to rethink the tools you use and how you can build a resilient HR system for your organization.

Some of the functions a robust human resource application software can perform are:
  • Supporting recruitment practices.
  • Implement automation for day-to-day HR operations
  • Maintaining a categorized database of candidates and employees
  • Enabling training, workshops and learning journeys for new and existing employees
  • Maintain a record of leaves, work time and timesheets
  • Managing payroll, compensation and benefits
  • Launching and tracking employee engagement programs

Benefits of HR software solutions

Whether you are a small business with less than 50 employees or a large organization with multiple operations, HR software offer functionalities that translate into tangible benefits. The right solutions can help you optimize about 40% of administrative tasks saving your time and money in the process. Recognizing areas of HR your organization can improve is the key to leveraging the HR software tool you choose.

Improve core HR capabilities

HR tools offer the ability to automate tasks so that your HR team can focus on more important projects. For example, with less paperwork and administrative tasks, HR can devote their time and attention to recruitment needs, enhancing training and boosting employee engagement efforts.

Make a well-informed decision

Data is at the heart of HR management, whether it is maintaining employee information or tracking day-to-day tasks. Yet, HR teams are unable to get the most, even after having access to this valuable data. HR tools empower HR by generating reports, aiding analysis and capturing key insights that can guide decisions related to recruitment, performance, retention and much more.

Create an enriching employee experience

Studies report that engaged employees are healthier, more productive, report fewer absences, and are less likely to look for opportunities elsewhere. You can incorporate employee engagement programs that take your employee loyalty to the next level with the right HR tool.

HRIS vs. HRMS vs. HCMS

Depending on the function, you will find different types of HR software specialized in managing different tasks. However, there are essentially three categories that cover every aspect of HR.

Human Resource Information System (HRIS)

HRIS software is designed to deal with day-to-day HR operations. It revolves around digitizing employee records, managing documents & reports, and providing a centralized tool to access all employee data.

Human Capital Management (HCM)

HCM encompasses all the functions that HRIS software performs and more. In addition to digitizing employee records, HCM software goes a step further. It helps HR teams deal with the planning and organizing areas of HR. It also allows HR teams to evaluate, process and analyze employee performance related to productivity, engagement and value.

Human Resource Management System (HRMS)

HRMS encompasses everything that HCM software offers, with the ability to digitize and automate tasks. In addition, HRMS tools offer extensive management tools and are usually integrated solutions that cater to large organizations.

HR software workflow

The number of tools and resources available to manage HR may seem extensive but easy to understand. Here is how the three HR application software components fare with each other:

HRIS HCM HRMS
  • Applicant Tracking System (ATS)
  • Core HR
  • Employee Self Service
  • Time and attendance tracker
  • Leave and Absence management
  • Compensation Administration
  • Learning and Management
  • Reporting
  • HRIS +
  • Onboarding
  • Performance Management
  • Payroll
  • Succession Planning
  • Salary Benchmarking
  • Predictive Analytics
  • HCM +
  • Single-click Payroll Management
  • Time & Labor Management
  • Workflow
  • Global Management

How to choose the right HR software tools for your organization?

HR software tools not only allow you to manage your workforce but have implicit effects on your bottom line. So how do you go about choosing the right HR software to maximize ROI?

As employers continue to adjust to the new way of work, they need pragmatic and integrated solutions to help them protect their business and people.

- Greg Golub, Founder and CEO of Sequoia

Identifying gaps in your current process will help you ask the right question. But if you do not know where to start, here are the key aspects to consider before you zero in on any HR application software or features:

Scalability and Flexibility

HR software that is growth-ready can and will save you time and resources in the long run. However, your application needs to account for business expansion. Is it flexible enough to account for upgrades in technology, third-party APIs and cloud support? Will you be able to scale with your current software without requiring large-scale customization? Ideally, your HR software needs to offer the scalability and flexibility that a forward-looking, agile and dynamic business needs to grow.

Seamless integration capabilities

While today’s HR software is ahead of its time, it is essential to consider integration with your current HR system. Having a meaningful integration strategy can help you improve processes and comply better with data and security regulations. Does the HR solution provider offer integration support for your core HR systems? Does it need extensive modifications to work with your applications?

Training and implementation

To get the most out of your HRMS tools, you must consider the training and implementation aspects of the application. An effective training program that assigns accountability will quickly orient your team and troubleshoot any issues in implementing HR software. Your training program must help employees understand the scope of the application and make the most of the tools on offer.

Data Security

Human Resources application software usually comes with inbuilt data security and compliance capabilities. These allow HR teams to secure large amounts of confidential employee information. HR tools also offer high levels of control that allow HR managers to share data securely and maintain the highest standard of all-around privacy.

Before you go

In all, the importance of HR software applications cannot be overstated. Using an optimized HR system has cascading effects in the long run. It can save you cost and time, improve critical areas of workforce management and enhance virtually all aspects of your business, like revenue generation and customer experience.

Frequently Asked Questions

Do I need both an RFI and RFP when seeking HR software providers?

With a request for Information (RFI) form, you will be able to get a complete overview of the HR application software from your potential vendors. It is meant to give you an insight into their functionalities and whether they meet your specific feature requirements, budget criteria, compliance standards, etc. On the other hand, a Request for Proposal (RFP) allows vendors to customize their offer as per enterprise needs and provides a more tailored insight to what is on offer.

Who should take the buying decision?

Ideally, a combination of HR and IT teams should be on your decision-making team alongside finance. Once a tentative budget is finalized, both HR and IT leaders add valuable inputs on the feasibility, functionality and features that best meet your organization’s goals.

How should I do my research for the right vendor?

Researching HR news sites for new and old players in the market, following the latest HR tech trends and keeping an eye out for new vendors through industry conferences and exhibits are just ways to find potential vendors online.

Spotlight

TRI-AD

TRI-AD is a total benefits administration firm that serves the unique needs and requirements of mid-market employers. Privately owned for more than 40 years, TRI-AD's hallmark has been the development of long-term and mutually beneficial relationships with our clients and a superior service experience for their plan participants. TRI-AD is not a volume shop or a "cookie cutter" benefits administrator. We partner with organizations that value high-touch service, flexibility and a willingness to adapt our service approach to the needs of our clients...not the other way around. TRI-AD's one-stop approach for all benefits administration needs ensures accountability, streamlined processes, ease-of-use and complete satisfaction for our clients and their plan participants.

OTHER ARTICLES
RECRUITMENT & RETENTION

Listen and act: how to get employee experience management right

Article | July 14, 2022

As the science behind employee engagement evolves, it’s become clear just how much businesses can gain from a happy and involved workforce. From improved performance, to reduced attrition, increased revenue and even a better customer experience, employee engagement is at the heart of business growth. Given these benefits, it’s no surprise that the role of HR departments is moving beyond just managing people and towards managing experiences.

Read More
HR STRATEGY, EMPLOYEE EXPERIENCE

5 Things HR Can Do To Improve Employee Output

Article | February 17, 2023

Employees are companies most valuable asset – Without the talent, knowledge and expertise those employed bring to an organisation, it’s safe to say that the business world would be a very different landscape. Human Resources is often held responsible for owning the employee value strategy, where we’re now embracing tremendous improvements in how the value that employees bring, can be achieved. Here we’ll explore how data analysis, learning & development, employee engagement, 360 feedback and flexibility all offer a significant opportunity to improve employee output within every organisation in 2020.

Read More
TALENT ACQUISITION, HR STRATEGY

6 Reasons To Invest In Employee Onboarding In Your Organization

Article | August 24, 2022

You never get a second chance to make a first impression. This holds particularly true when it comes to employee onboarding. It's a new hire's introduction to the organization and the experience has a significant impact on employee retention. Unfortunately, that's why it's rare to see many employees with years of tenure. Research by Future Workplace found that 91% of Millennials expect to stay in a job for less than 3 years. Companies lose 25% of all new employees within the first year, according to SHRM, but almost 70% of employees are more likely to stay with a company for 3 years if they experienced great onboarding.

Read More

Great training is key to creating a positive employee experience

Article | February 10, 2020

You’d love to have employees working for you who are the type that always want to learn new things and grow, right? Right. Engaged employees spend more of their time working to improve their performance through training and development. They are the type of workers every company wants, and they expect their employers to create a positive experience for them by matching their ambition with effective training. For firms and HR professionals trying to create a positive employee experience, it’s essential that your team of in-house trainers is ready to lead the way.

Read More
RECRUITMENT & RETENTION

5 Elements to Retain Millennial and Gen Z Employees

Article | July 14, 2022

As the science behind employee engagement evolves, it’s become clear just how much businesses can gain from a happy and involved workforce. From improved performance, to reduced attrition, increased revenue and even a better customer experience, employee engagement is at the heart of business growth. Given these benefits, it’s no surprise that the role of HR departments is moving beyond just managing people and towards managing experiences.

Read More
HR STRATEGY, EMPLOYEE EXPERIENCE

Maximize Your Budget: 6 Strategies to Improve Efficiency and Contain Costs for Your Business

Article | February 17, 2023

Employees are companies most valuable asset – Without the talent, knowledge and expertise those employed bring to an organisation, it’s safe to say that the business world would be a very different landscape. Human Resources is often held responsible for owning the employee value strategy, where we’re now embracing tremendous improvements in how the value that employees bring, can be achieved. Here we’ll explore how data analysis, learning & development, employee engagement, 360 feedback and flexibility all offer a significant opportunity to improve employee output within every organisation in 2020.

Read More
TALENT ACQUISITION, HR STRATEGY

Connecting with Candidates: How to Build a Talent Community

Article | August 24, 2022

You never get a second chance to make a first impression. This holds particularly true when it comes to employee onboarding. It's a new hire's introduction to the organization and the experience has a significant impact on employee retention. Unfortunately, that's why it's rare to see many employees with years of tenure. Research by Future Workplace found that 91% of Millennials expect to stay in a job for less than 3 years. Companies lose 25% of all new employees within the first year, according to SHRM, but almost 70% of employees are more likely to stay with a company for 3 years if they experienced great onboarding.

Read More

Great training is key to creating a positive employee experience

Article | February 10, 2020

You’d love to have employees working for you who are the type that always want to learn new things and grow, right? Right. Engaged employees spend more of their time working to improve their performance through training and development. They are the type of workers every company wants, and they expect their employers to create a positive experience for them by matching their ambition with effective training. For firms and HR professionals trying to create a positive employee experience, it’s essential that your team of in-house trainers is ready to lead the way.

Read More
MORE ARTICLES

Spotlight

TRI-AD

TRI-AD is a total benefits administration firm that serves the unique needs and requirements of mid-market employers. Privately owned for more than 40 years, TRI-AD's hallmark has been the development of long-term and mutually beneficial relationships with our clients and a superior service experience for their plan participants. TRI-AD is not a volume shop or a "cookie cutter" benefits administrator. We partner with organizations that value high-touch service, flexibility and a willingness to adapt our service approach to the needs of our clients...not the other way around. TRI-AD's one-stop approach for all benefits administration needs ensures accountability, streamlined processes, ease-of-use and complete satisfaction for our clients and their plan participants.

Related News

COMPENSATION MANAGEMENT, PAYROLL

Nium enhances global payroll payments solution, offers transparent Foreign Exchange (FX) rates for more predictable payroll

PRnewswire | June 01, 2023

Nium, the leader in real-time global payments, has enhanced its market-leading payroll payments solution to support the complex needs of payroll platforms worldwide. Nium's payroll solution simplifies global growth for a majority of payroll platforms, including Panther, a provider of global employment, payroll, benefits, and contractor software that can be integrated with an HR tech stack. In addition to expanded network and currency coverage in Canada, Africa, Middle East, Latin America, and Asia Pacific, new enhancements to this offering include: Foreign Exchange (FX) Transparency: Allows for end-to-end FX control, which includes transparent costs with a single clear FX markup and one low per-transaction fee to help manage costs at scale. With this, clients can schedule bulk conversion for ease and control, lock FX rates to manage FX fluctuation, and configure fees at the customer level for flexibility; Beneficiary Pre-screen and Confirmation of Payee: Minimizes potential returns with verified payee information and keeps the payment process quick and smooth; Scheduled Payouts: Enables clients to disburse payments to their workforce on a certain date. Provides predictability to their clients' employees on when to expect to receive their salary payouts; Direct Debit in the US, UK, and EU: Provides the ability for platform clients to pull funds from their customers' primary bank accounts into their Nium wallet to fund payroll payouts, this improves cash flows and reduces friction. The global payroll outsourcing market was pegged at $9.9 billion in 2021, according to U.S.-based Allied Market Research. Growing at a CAGR of 7.2% from 2022 to 2031, the market is expected to reach $19.5 billion – making it one of the largest and fastest growing opportunities in global payments. The need to hire at scale across borders is rapidly becoming a key competition for companies. But, adding remote workers adds significant cost and complexity to payroll operations, simplified by the growing number of third-party payroll platforms. Specifically, 80% of companies believe that transparent foreign exchange rates are important for payroll providers. By making Nium's fees transparent, its clients can have more control over their finances. "Global payroll is complex," says Robin Gandhi, CPO of Nium. "Every country has different regulations, including tax laws, employment laws and data privacy laws which make the compliance process tricky, and that's what payroll platforms do best. However, getting money to every employee or contractor on payday in their preferred account, on-time, and across multiple geographies is not easy. With our global payments network and payroll specific functionality, we make payroll seamless, so platforms don't have to worry about the technical and legal lift to send money across the world knowing that their employees will have access to funds when they need them." "We trust Nium to move funds reliably, quickly, and compliantly around the world and across different corridors," said Matt Redler, CEO and Co-founder of Panther. "We consider their payroll solution a trusted component of our engine. Specifically, their transparent FX capabilities allow us to price our FX revenue stream in a competitive way. We're excited about Nium's payroll enhancements and our continued partnership." Nium's payroll solution goes beyond the ordinary, offering a comprehensive suite of products to empower global payroll platforms and businesses to seamlessly onboard, transact and manage payroll for employees and contractors worldwide, including competitive FX, built-in compliance, real-time payments, security offerings, zero-deduction wire transfers, and multiple market coverage. However, the company understands that payroll is not merely a transactional process; it is mission critical money movement that holds the power to impact lives and it's important to have a partner businesses can trust. By leveraging Nium's global payment platform, platforms and businesses can put their trust in Nium while they focus on growing globally with improved operational efficiency and exceptional customer experience. About Nium Nium, the leader in real-time global payments, was founded on the mission to deliver the global payments infrastructure of tomorrow, today. With the onset of the on-demand economy, its payments infrastructure is shaping how banks, fintechs, and businesses everywhere collect, convert, and disburse funds instantly across borders. Its payout network supports 100 currencies and spans 190+ countries, 100 of which in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 35 markets. Nium's growing card issuance business is already available in 34 countries. Nium holds regulatory licenses and authorizations in more than 40 countries, enabling seamless onboarding, rapid integration, and compliance – independent of geography. The company is co-headquartered in San Francisco and Singapore, with regional offices in London, Amsterdam, Hong Kong, Mumbai, Bengaluru, and Chennai.

Read More

EMPLOYEE EXPERIENCE, EMPLOYEE ENGAGEMENT

Global employee engagement platform, Reward Gateway acquired by worldwide leader in Employee Benefits, Edenred, for £1.15 bn

PRnewswire | May 17, 2023

Global employee engagement company, Reward Gateway has been acquired by the world's leading platform for people at work, Edenred for £1.15 bn from funds managed by Abry Partners and Castik Capital. Together Edenred and Reward Gateway will bring a unique and differentiated value proposition at scale to the market, by providing leading end-to-end employee services, from digital employee benefits, employee savings, recognition and rewards programmes, to well-being and corporate social animation solutions. This acquisition brings together two organisations with aligned mission and values, track record and offers to innovate and provide HR leaders with a truly market-beating solution. The deal will bring many benefits to Edenred and Reward Gateway clients including accelerated delivery of a comprehensive range of solutions and most notably, an extended reach of Reward Gateway's platform into new regions and countries, as it is planned to be rolled-out in 6 major Edenred countries (Belgium, France, Germany, Italy, Romania, Spain). It will bring Human Resources departments access to a unique, multi-country Employee Benefits and Engagement platform, empowering them to build the right combination of benefits and engagement tools to meet the changing needs of their people and their company. As part of the deal, Reward Gateway will join the Employee Benefits Division within Edenred under the leadership of Arnaud Erulin, Employee Benefits, COO. Nick Burns, Global CEO, Reward Gateway will stay on and lead the business. Arnaud Erulin, Global COO Employee Benefits Solutions of Edenred, said, "Edenred has successfully extended its portfolio into non-Meal & Food benefits over the years. The Group has notably developed a leading offer in Employee Benefits and Savings platforms in 17 countries as part of its Beyond 22-25 strategy. This acquisition marks a major milestone in the roll-out of our strategic plan, putting Edenred in the best position to be the most trusted global Employee Benefits & Engagement platform. It opens the door for Edenred to accelerate the strengthening of its Employee Benefits value proposition. This move offers global corporations and enterprises international consistency in every market that we operate in." Nick Burns, Global CEO of Reward Gateway, said: "The combination of Reward Gateway's operations and technology with Edenred's position as a global market leader across 1 million corporate clients in 45 countries, offers an accelerated path to achieve our mission of 'making the world a better place to work'. As we will aim at a single unified platform, we will benefit from economies of scale to build tailored solutions for specific markets. Bringing together our collective strengths, from commercial reach to product innovation and advanced technology, will be putting us in a position to provide HR leaders with a truly market-beating solution. "In the context of a post pandemic world we have displaced workforces, and as the cost-of-living crisis continues, many employees are struggling to make ends meet. Employers too are extremely affected by market instability, in addition to other challenges such as inflation, staff retention and the war for talent. Our goal is to unite and connect people with organisations that are set up and armed to support their workforces. This deal solves the macro social issues that exist in today's workforce." Listed on the Euronext Paris stock exchange, Edenred is part of the CAC Next 20 index with a market capitalisation of over €14.5 billion. The company has 10,000 employees worldwide and generated more than €2.0 billion in revenue in 2022. With over 4,000 clients, Reward Gateway helps improve the working lives of over 8 million users around the world. Reward Gateway has over 650 employees across the UK, US, Australia and Bulgaria. Reward Gateway has enjoyed continued double-digit revenue growth and consistently high profitability over the recent years. It forecasts to generate £95m revenue and £45m EBITDA in FY2023. About Reward Gateway Reward Gateway helps companies engage, motivate and retain people - every day, all over the world. Partnering with over 4,000 companies in 23 countries, we empower more than 8 million users to connect, appreciate and support one another to make the world a better place to work. Our unified employee engagement hub provides the best of recognition, reward, wellbeing, surveys, benefits and discounts that support talent acquisition, retention and values-driven growth. About Edenred Edenred is a leading digital platform for services and payments and the everyday companion for people at work, connecting 52 million users and 2 million partner merchants in 45 countries via close to 1 million corporate clients. Edenred offers specific-purpose payment solutions for food (such as meal benefits), incentives (such as gift cards, employee engagement platforms), mobility (such as multi-energy, maintenance, toll, parking and commuter solutions) and corporate payments (such as virtual cards). True to the Group's purpose, "Enrich connections. For good.", these solutions enhance users' well-being and purchasing power. They improve companies' attractiveness and efficiency, and vitalize the employment market and the local economy. They also foster access to healthier food, more environmentally friendly products and softer mobility. Edenred's 10,000 employees are committed to making the world of work a connected ecosystem that is safer, more efficient and more responsible every day. In 2022, thanks to its global technology assets, the Group managed some €38 billion in business volume, primarily carried out via mobile applications, online platforms and cards. Edenred is listed on the Euronext Paris stock exchange and included in the following indices: CAC 40 ESG, CAC Next 20, CAC Large 60, Euronext 100, FTSE4Good and MSCI Europe.

Read More

HR ANALYTICS, EMPLOYEE EXPERIENCE

G&A Partners announces expansion into Oregon

Businesswire | May 16, 2023

G&A Partners, a leading professional employer organization (PEO), announced today it’s expanding its best-in-class client service and customized support to small and mid-sized businesses in Oregon. G&A will bring its high-quality, competitive benefits options, including UnitedHealthcare group medical plans, and extensive human resources expertise to Oregon businesses through service delivery plans that can be customized to each business’ unique needs and budgets. “G&A Partners’ purpose is to help build thriving businesses and make a difference in the lives of those we serve,” says John G. Allen, chief revenue officer at G&A Partners. “We believe we can help Oregon companies grow their businesses better and faster by offering comprehensive HR solutions with transparent pricing and customized services. Using our affordable benefits plans and state-of-the-art technology, Oregon businesses can compete with larger companies to attract and retain top talent and grow market share.” G&A Partners, which was named to the Inc. 5000 list of America’s top private companies for the 17th time, recently announced it is also expanding into Georgia, North Carolina, and Florida. About G&A Partners G&A Partners, one of the 10 largest professional employer organizations (PEO) in the nation, has been helping entrepreneurs grow their businesses for more than 25 years. By delivering world-class services with trusted experts in HR administration, benefits, and payroll, clients now have the time and freedom they need to focus on what matters most—their employees, products and services, and their customers.

Read More

COMPENSATION MANAGEMENT, PAYROLL

Nium enhances global payroll payments solution, offers transparent Foreign Exchange (FX) rates for more predictable payroll

PRnewswire | June 01, 2023

Nium, the leader in real-time global payments, has enhanced its market-leading payroll payments solution to support the complex needs of payroll platforms worldwide. Nium's payroll solution simplifies global growth for a majority of payroll platforms, including Panther, a provider of global employment, payroll, benefits, and contractor software that can be integrated with an HR tech stack. In addition to expanded network and currency coverage in Canada, Africa, Middle East, Latin America, and Asia Pacific, new enhancements to this offering include: Foreign Exchange (FX) Transparency: Allows for end-to-end FX control, which includes transparent costs with a single clear FX markup and one low per-transaction fee to help manage costs at scale. With this, clients can schedule bulk conversion for ease and control, lock FX rates to manage FX fluctuation, and configure fees at the customer level for flexibility; Beneficiary Pre-screen and Confirmation of Payee: Minimizes potential returns with verified payee information and keeps the payment process quick and smooth; Scheduled Payouts: Enables clients to disburse payments to their workforce on a certain date. Provides predictability to their clients' employees on when to expect to receive their salary payouts; Direct Debit in the US, UK, and EU: Provides the ability for platform clients to pull funds from their customers' primary bank accounts into their Nium wallet to fund payroll payouts, this improves cash flows and reduces friction. The global payroll outsourcing market was pegged at $9.9 billion in 2021, according to U.S.-based Allied Market Research. Growing at a CAGR of 7.2% from 2022 to 2031, the market is expected to reach $19.5 billion – making it one of the largest and fastest growing opportunities in global payments. The need to hire at scale across borders is rapidly becoming a key competition for companies. But, adding remote workers adds significant cost and complexity to payroll operations, simplified by the growing number of third-party payroll platforms. Specifically, 80% of companies believe that transparent foreign exchange rates are important for payroll providers. By making Nium's fees transparent, its clients can have more control over their finances. "Global payroll is complex," says Robin Gandhi, CPO of Nium. "Every country has different regulations, including tax laws, employment laws and data privacy laws which make the compliance process tricky, and that's what payroll platforms do best. However, getting money to every employee or contractor on payday in their preferred account, on-time, and across multiple geographies is not easy. With our global payments network and payroll specific functionality, we make payroll seamless, so platforms don't have to worry about the technical and legal lift to send money across the world knowing that their employees will have access to funds when they need them." "We trust Nium to move funds reliably, quickly, and compliantly around the world and across different corridors," said Matt Redler, CEO and Co-founder of Panther. "We consider their payroll solution a trusted component of our engine. Specifically, their transparent FX capabilities allow us to price our FX revenue stream in a competitive way. We're excited about Nium's payroll enhancements and our continued partnership." Nium's payroll solution goes beyond the ordinary, offering a comprehensive suite of products to empower global payroll platforms and businesses to seamlessly onboard, transact and manage payroll for employees and contractors worldwide, including competitive FX, built-in compliance, real-time payments, security offerings, zero-deduction wire transfers, and multiple market coverage. However, the company understands that payroll is not merely a transactional process; it is mission critical money movement that holds the power to impact lives and it's important to have a partner businesses can trust. By leveraging Nium's global payment platform, platforms and businesses can put their trust in Nium while they focus on growing globally with improved operational efficiency and exceptional customer experience. About Nium Nium, the leader in real-time global payments, was founded on the mission to deliver the global payments infrastructure of tomorrow, today. With the onset of the on-demand economy, its payments infrastructure is shaping how banks, fintechs, and businesses everywhere collect, convert, and disburse funds instantly across borders. Its payout network supports 100 currencies and spans 190+ countries, 100 of which in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 35 markets. Nium's growing card issuance business is already available in 34 countries. Nium holds regulatory licenses and authorizations in more than 40 countries, enabling seamless onboarding, rapid integration, and compliance – independent of geography. The company is co-headquartered in San Francisco and Singapore, with regional offices in London, Amsterdam, Hong Kong, Mumbai, Bengaluru, and Chennai.

Read More

EMPLOYEE EXPERIENCE, EMPLOYEE ENGAGEMENT

Global employee engagement platform, Reward Gateway acquired by worldwide leader in Employee Benefits, Edenred, for £1.15 bn

PRnewswire | May 17, 2023

Global employee engagement company, Reward Gateway has been acquired by the world's leading platform for people at work, Edenred for £1.15 bn from funds managed by Abry Partners and Castik Capital. Together Edenred and Reward Gateway will bring a unique and differentiated value proposition at scale to the market, by providing leading end-to-end employee services, from digital employee benefits, employee savings, recognition and rewards programmes, to well-being and corporate social animation solutions. This acquisition brings together two organisations with aligned mission and values, track record and offers to innovate and provide HR leaders with a truly market-beating solution. The deal will bring many benefits to Edenred and Reward Gateway clients including accelerated delivery of a comprehensive range of solutions and most notably, an extended reach of Reward Gateway's platform into new regions and countries, as it is planned to be rolled-out in 6 major Edenred countries (Belgium, France, Germany, Italy, Romania, Spain). It will bring Human Resources departments access to a unique, multi-country Employee Benefits and Engagement platform, empowering them to build the right combination of benefits and engagement tools to meet the changing needs of their people and their company. As part of the deal, Reward Gateway will join the Employee Benefits Division within Edenred under the leadership of Arnaud Erulin, Employee Benefits, COO. Nick Burns, Global CEO, Reward Gateway will stay on and lead the business. Arnaud Erulin, Global COO Employee Benefits Solutions of Edenred, said, "Edenred has successfully extended its portfolio into non-Meal & Food benefits over the years. The Group has notably developed a leading offer in Employee Benefits and Savings platforms in 17 countries as part of its Beyond 22-25 strategy. This acquisition marks a major milestone in the roll-out of our strategic plan, putting Edenred in the best position to be the most trusted global Employee Benefits & Engagement platform. It opens the door for Edenred to accelerate the strengthening of its Employee Benefits value proposition. This move offers global corporations and enterprises international consistency in every market that we operate in." Nick Burns, Global CEO of Reward Gateway, said: "The combination of Reward Gateway's operations and technology with Edenred's position as a global market leader across 1 million corporate clients in 45 countries, offers an accelerated path to achieve our mission of 'making the world a better place to work'. As we will aim at a single unified platform, we will benefit from economies of scale to build tailored solutions for specific markets. Bringing together our collective strengths, from commercial reach to product innovation and advanced technology, will be putting us in a position to provide HR leaders with a truly market-beating solution. "In the context of a post pandemic world we have displaced workforces, and as the cost-of-living crisis continues, many employees are struggling to make ends meet. Employers too are extremely affected by market instability, in addition to other challenges such as inflation, staff retention and the war for talent. Our goal is to unite and connect people with organisations that are set up and armed to support their workforces. This deal solves the macro social issues that exist in today's workforce." Listed on the Euronext Paris stock exchange, Edenred is part of the CAC Next 20 index with a market capitalisation of over €14.5 billion. The company has 10,000 employees worldwide and generated more than €2.0 billion in revenue in 2022. With over 4,000 clients, Reward Gateway helps improve the working lives of over 8 million users around the world. Reward Gateway has over 650 employees across the UK, US, Australia and Bulgaria. Reward Gateway has enjoyed continued double-digit revenue growth and consistently high profitability over the recent years. It forecasts to generate £95m revenue and £45m EBITDA in FY2023. About Reward Gateway Reward Gateway helps companies engage, motivate and retain people - every day, all over the world. Partnering with over 4,000 companies in 23 countries, we empower more than 8 million users to connect, appreciate and support one another to make the world a better place to work. Our unified employee engagement hub provides the best of recognition, reward, wellbeing, surveys, benefits and discounts that support talent acquisition, retention and values-driven growth. About Edenred Edenred is a leading digital platform for services and payments and the everyday companion for people at work, connecting 52 million users and 2 million partner merchants in 45 countries via close to 1 million corporate clients. Edenred offers specific-purpose payment solutions for food (such as meal benefits), incentives (such as gift cards, employee engagement platforms), mobility (such as multi-energy, maintenance, toll, parking and commuter solutions) and corporate payments (such as virtual cards). True to the Group's purpose, "Enrich connections. For good.", these solutions enhance users' well-being and purchasing power. They improve companies' attractiveness and efficiency, and vitalize the employment market and the local economy. They also foster access to healthier food, more environmentally friendly products and softer mobility. Edenred's 10,000 employees are committed to making the world of work a connected ecosystem that is safer, more efficient and more responsible every day. In 2022, thanks to its global technology assets, the Group managed some €38 billion in business volume, primarily carried out via mobile applications, online platforms and cards. Edenred is listed on the Euronext Paris stock exchange and included in the following indices: CAC 40 ESG, CAC Next 20, CAC Large 60, Euronext 100, FTSE4Good and MSCI Europe.

Read More

HR ANALYTICS, EMPLOYEE EXPERIENCE

G&A Partners announces expansion into Oregon

Businesswire | May 16, 2023

G&A Partners, a leading professional employer organization (PEO), announced today it’s expanding its best-in-class client service and customized support to small and mid-sized businesses in Oregon. G&A will bring its high-quality, competitive benefits options, including UnitedHealthcare group medical plans, and extensive human resources expertise to Oregon businesses through service delivery plans that can be customized to each business’ unique needs and budgets. “G&A Partners’ purpose is to help build thriving businesses and make a difference in the lives of those we serve,” says John G. Allen, chief revenue officer at G&A Partners. “We believe we can help Oregon companies grow their businesses better and faster by offering comprehensive HR solutions with transparent pricing and customized services. Using our affordable benefits plans and state-of-the-art technology, Oregon businesses can compete with larger companies to attract and retain top talent and grow market share.” G&A Partners, which was named to the Inc. 5000 list of America’s top private companies for the 17th time, recently announced it is also expanding into Georgia, North Carolina, and Florida. About G&A Partners G&A Partners, one of the 10 largest professional employer organizations (PEO) in the nation, has been helping entrepreneurs grow their businesses for more than 25 years. By delivering world-class services with trusted experts in HR administration, benefits, and payroll, clients now have the time and freedom they need to focus on what matters most—their employees, products and services, and their customers.

Read More

Events