Human Resources Management with Microsoft Dynamics NAV
Managing your payroll and your people
Microsoft Dynamics NAV (formerly Navision) provides Human Resources (HR) processes that allow your company to meet compliance, regulatory, and reporting requirements, while providing security and role-tailored access to ensure that sensitive employee data is only delivered to the right people. The ability to customize schedules, pay rates, and hiring processes within Dynamics NAV using Basic Human Resources functions and seamlessly integrate the outputs with other Microsoft products, such as the Office suite, allows managers and employees managers to adopt the solution and become productive quickly.
The Microsoft Dynamics NAV Human Resources solution can be used to:
Streamline the recruitment and hiring process – All the information on employment applications is easily stored and retrieved for future reference. NAV's recruitment features provide standard and customizable hiring forms and letters to give applicants a professional and efficient introduction to your company.
Retain employees – Keep and grow your employees. Track staff development activities to ensure your staff members are current with the certifications and training they need to meet industry and customer requirements. Manage the recruitment process so you can identify the applications that have the necessary qualifications at a glance.
Facilitate employee self-service – Use the Employee Portal for Dynamics NAV to give employees the ability to view, create, update, and delete data in an easy-to-use, well-known environment, as well as view reports, execute business logic, and perform searches.
Outsourcing vs. In-House Payroll
At a time when companies are looking to reduce staff and expenses, outsourcing payroll and Human Resources (HR) functions is an increasingly popular choice. Unfortunately, this is not always the least expensive solution, and companies should be careful to look at all costs involved in outsourcing some or all of their HR functions rather than utilize the capabilities they have with in-house employees and Dynamics NAV.
New hires – Hiring new employees requires the same amount of staff time to complete forms, but outsourcing often has a per-employee set-up charge
Funding the payroll – Both options ultimately require the same amount of money, but outsourcing options generally require that the money needed for payroll (including taxes and benefits) is transferred days before the actual pay date, compared with in-house options that generally allow the company to keep the money for payroll on hand until distribution is required, meaning in-house companies are able to keep the money for your payroll in interest bearing accounts a few extra days every month.
Remitting to third parties – Some outsourcing providers will charge extra for each third-party vendor, for example, auto loans, credit unions, benefits providers, etc.
Analysis – Since payroll generally accounts for a significant, if not the largest, percentage of a company’s budget, it is important that a company be able to analyze the costs included in the payroll. With in-house solutions, it is easy to move this information to the General Ledger for closer analysis. Out-sourcing companies generally offer limited visibility into the individual labor costs, and may charge for customizations or additions of new departments or job categories.
Ultimately, once the employees are paid, the primary purpose of any payroll system is to capture information that helps you manage your business. You might need to analyze your labor costs by product, department, or location. You might also want to compare costs by week or charges by employee. You could be watching your benefit costs or staying on top of worker’s compensation insurance. Whatever your issue of the day, week, or month, having full access to your payroll details via an in-house solution can make the difference between being in control of your labor costs and having a bottom line that is out of control. While available with an out-sourced service provider, additional information typically involves additional charges and more hassle.
Regardless of whether your company decides to outsource some or all of its HR and payroll functions or decides to perform these functions in-house, let ArcherPoint help you understand the capabilities of your ERP system before making your decision.
To learn more about the capabilities of Microsoft Dynamics NAV 2016, peruse the product capability guide.