The human resources sector has seen a tidal wave of transformation during the past decade. In the next years, Artificial Intelligence will become more prevalent. There has been an increase in the gig economy and increasingly strong encouragement for more diversity. Furthermore, a worldwide epidemic has changed the realities of millions of people while also redefining where and how labour is performed. The difficulty of managing your team grows in proportion to the size of your team. It becomes more difficult to create a unified picture of personnel data. Sensitive worker information will likely stay scattered over various files or programs that do not communicate effectively with one another. Integrations need an excessive amount of human work to maintain their integrity. As a consequence, the efficiency of human resource operations suffers significantly.
Based on our study, we can conclude that, even though the market for human resource software has far outgrown the need, the decentralization of functions means that it will not be able to address the efficiency issue on a basic level. Most businesses employ a range of distinct software, data is dispersed, work efficiency is poor, and human resources are overloaded. An integrated platform that links all human resources tools is especially essential at this stage.
Following your requirements, you may go with a straightforward Human Resources Management System, which includes functions that take care of day-to-day administrative chores such as employee management, leave management, and so on. Another option is to implement a solution that covers the key areas of human resource management such as training and development, performance management, and recruiting. Employee record permissions have been improved in the NetSuite’s SuitePeople Human Capital Management product, which was launched in NetSuite version 17.2. These improvements offer more options for controlling access to sensitive employee information in accounts that have SuitePeople installed on their systems. As part of SuitePeople, NetSuite has created a system on the NetSuite platform that is designed to operate in the manner that work is done and that integrates human resource activities and procedures that are “weaved into their daily user experiences.”
You can have NetSuite partners like Folio3 to help you with seamless customization, integration, and implementation of the latest version of NetSuite to streamline your human resource operations and all other business processes. It would ensure that your employee productivity and efficiency is concentrated on processes that need more of their attention while relying on NetSuite for operations that can be automated and centralized.
Below are some ways in which NetSuite SuitePeople is helping the human resource departments to improve their efficiency.
With an intuitive and user-friendly design and behaviour similar to that of other apps in the suite, Employee Center speeds up. It simplifies work for employees by reducing the number of steps required for them to take action.
Directory of workers that makes it easy to discover important information about them. Employees are often required to communicate with coworkers or other employees with whom they would not usually engage outside of the workplace. Getting in touch with the appropriate person may be a real challenge, particularly in big or widely dispersed companies. Employees may quickly and easily discover the information they need in the company directory to get in touch with the appropriate person at the appropriate moment.
Use the Org Browser to explore the organization in an engaging, interactive manner for workers and HR. In contrast to conventional org charts, which must be updated by hand and may rapidly become out-of-date, the Org Browser automatically refreshes anytime relevant data is modified automatically. Formal reporting connections connect employees, roles, and occupations in a visual way. Users can simply find their way through the organization to see how they fit in with the rest of it. It helps consumers identify the appropriate person to contact, particularly in big companies where all employees don’t know one other, and it’s difficult to locate the right person to help solve an issue.
Payroll is a comprehensive payroll management system in the United States. Time entry, attendance, and commission data are all seamlessly linked with NetSuite accounting capabilities, so there is no need for manual data input. A “No Penalties Guarantee” ensures that deposits are correct and filed on time while also handling compliance problems with all federal, state, and local authorities.
Time Off Management
HR departments no longer have to monitor employee time off manually. Time-Off Management software automates the recording of employees’ paid time off with simple-to-customize time-off programs. Employees, supervisors, and HR can quickly request, authorize, monitor, and report on time off activities via a centralized system, without the need for manual input, thanks to the user-friendly, self-service procedure. It is possible to properly monitor and report employee time-off activities via the Time-Off Management interface with NetSuite Payroll and Services Resource Planning (SRP). There are criteria for eligibility, entitlement, accrual frequency, and carryover that determine how much time off accrues on an automated basis. You can also change settings to update rules based on how long an employee has been with the company.
SuitePeople assists in the management of jobs to aid in the company’s organization and streamlining. It has features for managing employment inside the organization, such as Job Requisitions, Job Classifications and Levels, competencies, and other job criteria, among other features.
This feature of NetSuite SuitePeople helps manage and simplify the organization’s work processes. It handles jobs throughout the organization by tying into Job Requisitions, Job Classifications and Levels, competencies, and job specifications.
Workforce Analysis. Workforce Analysis enables HR professionals to quickly see the company’s headcount, growth, and turnover patterns, divided by departments, locations, employee class, and subsidiaries. Filters may be used by HR only to see certain types of workers. It is possible for the tool to automatically collect data related to changes in headcount when business executives request it (hires, turnovers, trends). Human resources may now devote more effort to analyzing headcount patterns and doing analysis at the segment level.
It is possible to monitor compensation information from the Employee Offer Letter, including wage/ salary amounts paid, frequency of payments, overtime rates, and the dates on which employees were hired using the compensation tracking feature. Bonuses, restricted stock units (RSUs), and stock options are all examples of variable compensation.
Thus, NetSuite never backs down without a solution. These outstanding features are built in a way that makes the user experience easier and flexible. It is why NetSuite has outgrown its competitors globally. By integrating a customized NetSuite software into your business model, you can outgrow your competitors too and do so with the help of Folio3, certified NetSuite Partners. They are experts in customization, integration and implementation of NetSuite.