Core HR & leave management handled with one tool

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Busy HR departments juggle core HR processes including recruitment, applicant selection, hiring, onboarding, training, payroll, and much more. With so much to handle, it can be hard to keep up. Today we are going to talk about the core HR processes and one of its primary functions – leave management – and how you can handle them more easily than ever with one tool.

 

What is core HR?

Core HR is an umbrella term referring to: 

  • The primary functions of the HR department 
  • Basic employee data captured
  • The software used to enable the two above

 

The benefits of core HR software

A core HR software will benefit your organization in numerous ways: 

  • Centralized platform for storing and managing all employee-related data 
  • Streamlining and automating core HR processes 
  • Saving time by digitizing paperwork 
  • Better internal communications  
  • Increased productivity and reduced errors 
  • Better privacy and security 
  • Insight into valuable analytics 
  • Enabling employee self-service 

In other words, being able to manage all these processes efficiently and in one place will translate to an increase in productivity and value for your business.

 

What is leave management?

Leave management, also called time off management, is the process of time off request management through policies, guidelines, and rules specific to your organization. The goal of leave management is to enable employees to take time off work without their absence impacting the function of the business. 

Handled correctly, the leave management process should be quick and easy for both employees and managers to use. The best way to do that? Quality leave management software.

 

The benefits of leave management software  

Here are some benefits of setting up a leave management system: 

  • Streamlined attendance and payroll 
  • Real-time absence monitoring 
  • Better employee satisfaction and retention rate 
  • Increased productivity, efficiency (better resource planning) 
  • Reduced errors in absence management 
  • Compliance with labor laws and internal policies 
  • Consistency and fairness in leave management 
  • Easy and transparent leave tracking, improved control 

 

Leave management best practices  

Employees need (and are legally entitled) to take various types of time off work. Best practices ensure organizations are compliant with the law and help them to strike the balance between granting time-off and making sure the organization’s staffing needs are also met. Below are four examples of best leave management practices.

 

  1. Understand the law – It is important that your leave policy is compliant with your local and federal law. Altering any leave benefits and falling short of government expectations can get you in legal trouble. 
  2. Create a clear leave policy without any bias. The document should explain the leave allowance, all types, and procedures regarding how to request and grant time-off. Rules for each type of leave will be different. Include national holiday guidelines in your leave policy. A clear leave policy will formalize the process and ensure equal treatment for all.  
  3. Communicate your leave policy clearly – Make your leave policy accessible for everyone in a centralized space. Review and update the leave policy as necessary and communicate any changes and adjustments to staff. 
  4. Measure policy effectiveness – To find out whether your leave policy meets the organization’s goals, you must evaluate some KPIs. For example: the times at which leave is requested, how long takes to grant requests, or the return-to-work rate. KPIs will allow you to assess whether your leave policy is efficient, and make changes as required. 

Read on: Automate your leave management with the right system.

 

The Core HR and leave management package in Vault ERP  

Your employees are your biggest asset. Fair, transparent and efficient HR processes will increase retention rate and improve your working environment. 

The Vault ERP Core HR package is a comprehensive software solution which can provide you with the tools you need to automate and manage all your essential HR processes. Cleverly designed by having customization and automation in mind, it will save you a significant amount of time. 

Here is a list of functionalities and features you could benefit from.

 

Time tracking 

Gain a clear visual overview of time spent on tasks and projects. Time tracking includes the easy tracking of time logged, time off, and a customizable view by dates and periods. Color-coding for different projects gives you immediate insight into time values. 

Read on: 7 golden rules of employee time tracking.

 

Time tracking dashboard widgets

Widgets allow you to see how many hours an employee worked in a month, week and the current day. You can see contracted hours and the hours they are absent from work due to sickness or holidays. The time precision index shows accuracy in time recording. All this data can be viewed in one line above a current time sheet. You can change the time sheet view to a month, week or a day and use a filter to show holidays or special days. 

 

Time reports 

Generate customized time reports to view how much time has been spent on tasks, projects and by whom over a customized period. Time reports are essential for transparent billing and cost analysis. 

 

Time off roster

This provides the whole organization (all companies including) with an overview of time-off requests. Visual features and color options for time-off types make it easy to distinguish between them. Filters allow you to view the time off roster by criteria such as periods, offices, teams, departments or projects. All pending time-off requests can be approved or denied from the time off roster screen. 

 

Billable hours tracking 

You can calculate the value of work by tracking billable hours. This tool is essential when working on billable projects, but also applies to other occupations such as advisors or lawyers where hourly rates are charged. Billable time tracking software is a great tool for transparent billing and cost analysis. 

Read on: Employee billable time and how to track it right.

 

Leave management 

Users can request time off through self-service. Leave management is automated and the remaining leave balance adjusted automatically. Users can view their time off history. All time off requests appear in the time off roster after submission and can be approved immediately. 

 

Time off email notifications 

There is no need to monitor the time off roster tool, as approvers will receive email notifications about incoming time off requests. 

 

Personnel info 

This is a form holding all essential information about an employee for easy access. What information you want to keep on the personnel profile will depend on your preferences. The form allows you to upload a picture, set a password, set agreement length and currency, social media and much more. You will also be able add and delete notes here. 

 

List of personnel 

Depending on the module configuration, you can view a list containing information such as full names, job positions, departments, offices, security level, project allocations, date hired, date terminated, time worked, assets, and more. 

 

Agreements 

The agreement types will be set by a system administrator. Setting an agreement is easy - you select the agreement type from the drop-down, enter a start date or termination date, and leave a comment if you wish. Once set up, the employee’s ‘Agreement’s window will open, displaying information such as position, department, remuneration, overall cost, and more. The agreement page is the storage place for payroll data and pay slips. 

 

Performance tracking 

Vault ERP’s performance tracking provides a visual display of an employee’s performance over periods. The performance tracking tool allows you to rate or record different aspects of performance such as:

  • Office presence
  • Job performance/reliability
  • Contributions
  • Recommendations
  • Incidents
  • Number of reward tokens

In addition to this, you can see a time tracking precision index, time balance (hours worked vs contracted hours) and a sick days heat map – all automated, displayed in traffic light colors and visible in one single window. You can assign people who can rate the employee’s performance directly from this window. 

 

Evaluations 

Busy teams usually procrastinate with this task due to necessary paperwork, whether as a hard copy or digitally. Our tool allows you to give a rating quickly and easily by selecting one of the menu options. Above the rating history, a graphic of information over periods will be displayed in a traffic light system to show the rating value for each month. 

 

Personnel KPIs 

This functionality gives you a quick insight into KPIs such as:

  • Personnel 90 – day failure rate
  • Percentage of personnel leaving by year
  • Turnover rate by company
  • Month from the last HR review
  • Month from the last security review
  • Personnel leaving by age group

The data is further visually summarized by a graph showing the KPIs for personnel by position. 

 

Labor cost management 

A time tracking tool will allow you to set billable tasks in projects and track time against them. On the ‘Projects’ dashboard, you can view a real-time summary of hours worked on individual projects and tasks. A graphic bar with a tooltip will reveal the value for billable hours. Based on the data, you can monitor and evaluate the cost of labor. You can also view the progress of tasks and effort estimate. 

 

Project info 

‘Project info’ in Vault ERP is a form holding all the essential information you need to get an overview of a project such as the department, finish date, coordinators, and much more. 

 

Project dashboard 

This allows you to configure project widgets and view instantly key information about a project such as task execution, absentees, team members, client info, KPIs and more. You can create multiple dashboards for a project if you need. 

 

Access control

From the personnel basic info page, you can specify and grant personnel access to the system by adding roles under a selected company. The roles can be defined by a system administrator.  

 

Department information

In Vault ERP, you can create department tabs with information such as the department name and managers. You can choose a color for each department you create, mark it as active or inactive, and drop files to attach. Once a department has been created, it will appear on the departments list. Click on any item in the list to open a department dashboard. You can configurate dashboard widgets here to view information that matters to you. 

 

Client profiles

Client profiles give you a quick over of a client’s information. Apart from basic details, you can choose currency, add tax information, add social media links, mark a client as active or inactive, and more. Once a client has been added, it will appear in the ‘Clients’ list. Click on any item in the list to open a client’s dashboard, you can configure dashboard widgets here according to your preference. 

 

All months' summary

The ‘all months’ summary’ in Vault ERP provides a digestible display of cost for personnel over a period, but it also shows financial stats such as income, expense and cash balance if you have other modules configured. 

 

Final thoughts 

Company leaders must care about how their people are managed. Bad people management can break a company. Disengaged employees are not productive, and errors in workflows that occur due to poor communication and high turnover will cost you money.   

A core HR software solution assists you with consolidating and managing all HR processes in a way that will exceed your expectations, optimize your business, and make your employees and HR team happy. 

Schedule a demo to find out how we can help.

 

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