Status quo is comfortable, status quo is familiar … status quo isn’t always the best way to go.
As a Professional Employer Organization (PEO), you might be thinking to yourself: Why would I want to add a Human Capital Management (HCM) system in the first place? After all, you say. “I’m good enough, I’m smart enough and, doggone it, people like me and the service I provide.”
No arguments there, and Saturday Night Live character Stuart Smalley would certainly agree with you. Still, you might want to ask yourself: “What happens when my client is ready to move beyond the PEO model? Does the journey really have to end?”
When your clients outgrow the PEO model and say they’re ready for “Graduation Day,” there’s no need for a tearful goodbye.
Coming in 2024, the PrismHCM platform is designed to give your clients a familiar option so they can handle their human resources processes should they choose to bring them in-house with a self-service model. That means they can stay with you even when they no longer need co-employment.
And you’ll be able to offer these great “Graduation” benefits to prospective customers: those seeking self-service and those seeking traditional co-employment with an option to continue the journey as they grow. Since PrismHCM can be branded however you see fit, you can name it whatever you choose. “The A+ HCM” platform sounds summa cum laude to us, but we digress.
The PrismHCM platform plays a pivotal role in streamlining HR processes for small and medium-sized businesses (SMBs) by:
- Offering a modern, intuitive look and feel.
- Allowing users to manage payroll, benefits, performance management and more.
- Bringing continuity to users who are accustomed to the PrismHR look, feel and functionality.
What a great graduation gift!
Five Benefits of PrismHCM
With self-service technology at their fingertips, your clients can do it all on their own or with a little help from their friends (i.e., you) depending on whatever your service agreement is. That’s up to you.
Here are some of the key features of PrismHCM, and it won’t take a master’s degree to master them:
- Management 101: With the Employee Management functionality, your clients will have all their info in one place. No more searching through docs on the server. Your SMB self-service clients can view and maintain worksite employee (WSE) tax forms, deductions, direct deposits and more.
- Stay on Course: As you know, one of the biggest reasons SMBs turn to PEOs is because payroll can be quite complex. Bringing that functionality in-house should not cause more headaches as a business grows. PrismHCM offers Automated Clearing House (ACH) processing, payroll processing, Time & Attendance and more.
- Built-in Study Guides: Without a good system in place, Document Management & Tracking can be a nightmare. With PrismHCM, authorized users have access to all their employees’ key documents in one easy-to-access, secure place that’s intuitive to navigate.
- Roll Call: As an organization grows, it gets harder and harder to keep track of who reports to whom and who does what, so having an Organization Chart feature that is interactive, collaborative and can be updated in real time is essential. And, guess what, PrismHCM has all that!
- Turn in Your Report: Scheduled to launch in 2024 for PrismHR and PrismHCM, the new advanced Data Visualization and Advanced Reporting functionality gives users the ability to see trends developing and easy access to the data they want whenever they want it. No need to hunt for information when custom reports can be created in minutes or report templates can be easily integrated for better business decisions.
Graduation season may be several months away, but there’s no reason to wait for Pomp and Circumstance to start playing to learn more about PrismHCM. Get ready for “Graduation Day” today, and if you want to throw your cap in the air to celebrate, we won’t stop you.
James Tehrani is PrismHR’s digital content marketing manager. He is an award-winning writer and editor based in the Chicago area.