Recent surveys indicate business and job growth in the small to midsize business (SMB) sector, which is good news for Kronos, a leader in workforce management tools. This week, the company released a new version of its Kronos Workforce Ready suite to help SMBs more easily manage their employees’ benefits from hiring to time tracking and beyond.
With the latest release, Kronos’ SMB customers benefit from enterprise-level tools to manage human resources functions, establish compensation and merit guidelines, keep on top of time and attendance issues and ensure adherence to necessary compliance laws. According to Kronos, Workforce Ready brings several new capabilities to human resources management including:
- Updated talent acquisition and hiring tools
- Ability to create merit-based compensation increase plans
- Increased visibility into management of benefits
- Simplified timecard tracking
- New Affordable Care Act (ACA) Manager tools
- Integration with TurboTax
From the point of view of SMBs, Kronos’ product brings a lot to the table in terms of the daily HR challenges that must be met. According to the press release, Wayne Overla, HRIS admin for Blarney Castle Oil and Propane, says:
“Workforce Ready has empowered our managers with tools to better manage the entire workforce. Currently ACA compliance is a major concern for us. The ACA Manager helps us keep an eye on the ACA measurement requirements of our hourly workforce, who are constantly coming and going across more than 100 locations. We can stay ahead of the game regarding benefits eligibility for our employees.”
Based on the number of products and go-to-market efforts being focused on the segment, 2015 may well be the year for HR technology to go beyond just payroll and job boards in the midmarket. Vendors in almost all segments of HR technology declared a dedicated product and/or go-to-market effort focused exclusively on the SMB market.
The blog makes a good point. Once a small business grows to more than 100 workers, management of benefits and time accounting becomes far more complex and includes dealing with the challenges of recruitment, retention of employees and even newer government regulations such as ACA.
In the more globalized world of today, even small businesses benefit from using solutions like Kronos Workforce Ready to “recruit, manage and reward the workforce.”