Inova Payroll Blog

8 Tips for Writing Inclusive Job Descriptions

Posted by Muhammad Talha on Sep 20, 2022

Diversity and inclusion have become an integral part of attracting new talent. In fact, 76% of job seekers consider diversity to be a significant factor when evaluating potential employers. Writing inclusive job descriptions is no longer a choice if your company wants access to a larger talent pool.

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Topics: Human Capital Management, Human Resources, Diversity

The Modern Manager's Guide to Virtual Onboarding

Posted by Muhammad Talha on Sep 8, 2022

Congrats on recruiting the perfect candidate for your remote role. However, the work is far from over. There’s still a crucial phase that will determine the immediate future of your company’s new remote employee: virtual onboarding.

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Topics: Employer Basics, Human Capital Management, Human Resources, Employee Communications

7 Strategies for Effective Meetings (And How They Help Your Team!)

Posted by Muhammad Talha on Aug 2, 2022

Meetings are an inevitable part of the job, often needed to inspire ideas, engage employees, and discuss ongoing projects, among many other things. However, a meeting isn’t always necessary and, when forced or conducted poorly, can take a toll on team productivity.

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Topics: Human Capital Management, Employee Communications

4 Best HRIS Certifications in 2022 (And Why They Matter)

Posted by Muhammad Talha on Jul 21, 2022

A modern HR professional needs to be competent in the use of human resource information systems. This is a key requirement if you want to thrive in a data-driven world. While learning on the job is a great way to go about it, there’s one way you can expedite the process: getting an HRIS certification.

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Topics: Human Capital Management, Human Resources

8 Components of a Successful HRIS Implementation

Posted by Muhammad Talha on Jul 6, 2022

You’ve spent a lot of time researching your options, interviewing stakeholders, and shortlisting HRIS vendors before making the final choice. After all that effort, you’ve finally decided on the best-fit solution to automate your core HR processes. But there’s still a major step left that can make or break this project: HRIS implementation.

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Topics: Human Capital Management, Human Resources

What Is a Pooled Employer Plan (PEP)?

Posted by Muhammad Talha on Jun 23, 2022

Employers have been using defined contribution plans to attract and retain top talentsince the launch of 401(k)s in 1978. These plans transferred most of the risk involved with defined-benefit plans from the employers to the employees. The only problem? Managing a 401(k) comes with high administrative costs that most small businesses can’t afford. As a result, only 53% of workers at private companies with fewer than 100 employees have access to employer-sponsored retirement plans.

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Topics: Small Business, Human Capital Management, Human Resources

How to Increase Your Employee Retention Rate

Posted by Muhammad Talha on Jun 16, 2022

People continue to quit their jobs at a mind-boggling rate as the Great Resignation continues. More than 4.4 million people left their jobs in 2022 so far. Employees are being more selective about the employers, company cultures, and the nature of the work.

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Topics: Employer Basics, Human Capital Management, People Analytics

HCM vs. HRIS: What’s the Difference?

Posted by Muhammad Talha on Jun 8, 2022

The market for HR technology is always changing, especially software solutions and how they’re packaged by vendors. The lines between the terms used for different HR software have become increasingly blurry. Perhaps the two terms that are most often confused are human resource information system (HRIS) and human capital management (HCM).

It’s common for people to confuse these types of software because they overlap in terms of their functionalities. However, these solutions have historically differed in terms of their scopes. Whereas an HRIS typically only deals with core HR responsibilities, an HCM system offers everything an HRIS does, along with features for talent management and advanced analytics.

You’ll likely come across these terms when researching tools to digitize HR. Having clarity on HCM vs. HRIS will help you select a suitable solution that fits your needs.

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Topics: Human Capital Management

401(k) Audits: Answers to Frequently Asked Questions

Posted by Corie Stark on May 2, 2022

When a business reaches a certain number of eligible participants for their 401(k) plan, federal law requires an independent audit of that retirement plan. Larger companies are more accustomed to this annual requirement. However, owners and managers of growing businesses may never have experienced a 401(k) audit or don't know enough about it.

You probably have a lot of questions if you’re about to undergo an audit for the first time. At what point is an employer required to complete a 401(k) audit? What is an "eligible participant," and why is this important? Who performs the audit, and what documents do they need?

A little homework will help you determine whether or not a 401(k) audit is required. Plus, it’ll help you better prepare for one.

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Topics: Employer Basics, Human Capital Management

Your Business Needs a Digital HR Strategy. Here's How to Create One.

Posted by Muhammad Talha on Apr 15, 2022

The world is currently going through the fourth industrial revolution. Human productivity has reached an all-time high thanks to developments in artificial intelligence, the Internet of Things (IoT), and robotic process automation (RPA). Today, technology has penetrated all areas of business, including human resource management. A digital HR strategy is no longer just a nice to have if a business wants to remain productive and competitive.

A digital HR strategy is a roadmap that guides the digital transformation of manual HR processes. The general goal of such a strategy is to digitize and automate — and, thereby, improve — key HR functions, such as recruitment, onboarding, and workforce management.

Digitizing your HR processes takes time, but it can lead to improved productivity, reduced costs, and even higher employee engagement. That said, it warrants carefully planning out a strategy that takes your company’s requirements and future HR needs into account to avoid wasting resources in the wrong places.

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Topics: Human Capital Management

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Thank you for visiting our blog. Please note that we do our best to fully research the blog topics you see here and present accurate and up-to-date information. We believe the information to be accurate but make no claims as such. We also want to share with you that we do not provide professional accounting, financial, legal or tax advice and we recommend contacting a licensed accounting, financial, legal or tax advisor for business advice. For any comments related to the blog, please email us at info@inovapayroll.com.