Welcome to Midrange Software Inc.'s e-Newsletter
FOR THE MONTH OF: May 2003

• 7 Strategies to Transform Human Resources into a Profit Center with PERMS Millennium
• Upcoming Events: SHRM 55th Annual Conference and Exposition
• New Relationships forged at SHRM EMA and American Payroll Association Events
• Upcoming News: WC/FieldS Millennium (Client/Web), ROI, HRMS Justification and more

7 Strategies to Transform Human Resources Into A Profit Center With PERMS Millennium

Have your human resources administrative costs turned your HR department into a cost center? PERMS Millennium Human Capital Management is the solution to transform your HR department into a profit center with seven easy strategies:

1) Increase Employee Retention - Hiring costs can equal up to 30% of an employee's first year salary. PERMS Millennium increases employee retention by identifying employee skills and determining the most productive position for each employee. Enhanced training and performance tools also contribute to higher retention by increasing employee motivation. In addition, PERMS Millennium's applicant tracking module highlights the most promising candidates so a higher caliber of recruits are hired from the start.

2) Streamline HR Processes - Human resources can spend 60-70 percent of its time conducting administration tasks such as distributing benefits information, processing job applications, entering data and shuffling paper. The printing and distribution costs associated with these tasks average $2.24 per employee per month. PERMS Millennium reduces expenditures by streamlining these tasks so the HR professional can carry out more strategic functions that can increase revenues.

3) Improve Decision Making - Executives demand accurate information fast to make critical decision. PERMS Millennium integrates all department information so accurate reports can easily be generated in seconds. Choose from standard report templates or customizable reports that run on a frequent basis. Organizations benefit from higher quality reports direct from the database source, faster. Reduced reporting time lowers costs and the ability to conduct reports in-house avoids costly outsourcing fees.

4) Reduce Expenses - Manual errors and lack of resources to collect information are cited as the major causes for the following problems:

• Nationally, companies were penalized $46.9 million in the year 2000 for EEO lawsuits including reporting and record-keeping violations.
• Time and attendance issues have been a heavy source of lost revenue. Ineligible vacation and sick time taken may not cause an additional expense… but does cause the company to lose productivity.
• Benefits can represent 10 percent of a company’s annual revenue. Today, multiple levels of diversified benefits are being offered and managing these plans can be extremely complex.
• The time managers spend on salary planning is a hidden cost. There is a lot of manual work involved, but the companies typically don’t measure how much time it takes, so it isn’t charged against any HR process. To compound this expense, overpaying salaries may take place without an HRMS tools for managers to make accurate salary decisions based on training, performance and Estimated Market Values.

PERMS Millennium can drastically reduce or eliminate these costs by tracking, reporting and preventing each of these issues.

5) Empower Employees with Self Services - Self-services reduce up to 70 percent of the HR administration tasks. Through the Internet, company intranet, PDA or a combination of all, employees and managers have access to information such as benefits, personal information, training, time sheets, payroll and performance reviews. Empowering employees and managers to manage their own information increases satisfaction, productivity and retention, while reducing HR transactions and costs.

6) Combine Back Office Needs - HR and payroll integration simplifies the complexities of managing a payroll system and provides all of the data necessary to run payroll efficiently and avoid costly errors. PERMS Millennium seamlessly integrates to ITPayS payroll or any other ERP system. Better control of tax payments and deductions improves payroll administration and increases employee satisfaction. Additionally, losses from payroll errors and benefits paid for ineligible dependents will be avoided, saving thousands of dollars per year.

7) Align HRMS Focus with Company's Strategic Goals - In addition to the features, functions and technical details of an HRMS, the strategic business value and the financial impact that can be achieved should not be understated. PERMS Millennium is a centralized conduit of information that can be utilized to efficiently communicate the company's goals and drive employees and managers to achieving those goals more efficiently. Thus, increasing productivity towards company objectives.

Back to top

• How to justify an HR/Payroll system
• How PERMS Millennium HRMS can protect your company against costly non-compliance
• Why the PERMS Millennium reporting power alone is worth the investment