How Much Does HR Software Cost in 2022?
How Much Does HR Software Cost in 2022 and What to Look For: HR software that is licensed on a monthly basis may cost anywhere from $59 to $920 per month and up. It includes payroll software, health insurance software, time & attendance software, and more. Compare Pricing – Start Here:
The programs provide for a wide range of human resource functions, including managing current employees, employee training, performance evaluation, recruiting, and more. The exact features that you’re looking for will affect which part of the price range your software falls into.
What to Know About HR Software Prices
Are you a business that is weighing up the pros and cons of different software systems? Here are the information and software prices you need to know.
The right software can absolutely transform your business.
Small businesses and large businesses alike can all benefit from the simplification that software can provide.
Repetitive tasks such as payroll, recruiting, performance reviews can all be systemized with a single program. And your sales, your productivity and your efficiency will only benefit.
Today, we are covering the ins and outs of different software options and software prices.
What do HR Software Prices look like?
Of course, this is a hard question to answer as every system is extremely different just as every business has extremely different and individual needs. However, we will do our best to help you get an idea of the software prices you should be shopping for.
Software prices usually run on a per-employee rate. They range from free to about $15 or even $30 per employee, toward the high end.
Take Bamboo HR, for example, an employee tracking HR software. The software tracks everything about your employees that you may need such as time off, performance reviews, salary history, etc.
Bamboo offers two types of plans: per employee or per month. Per employee, the company charges about $7. Per month, you would be looking at a minimum of $99 a month. However, this excludes their payroll software.
If you’re looking to include the Bamboo payroll software in your package, the price would run about $25 a month or $4 per employee every month.
Another company, called GoCo provides a similar service, completely free of charge!
Some benefits that GoCo includes are tax data collection, payroll, retirement and benefit plan automation, hiring, to name only a few.
You may be asking: “How can it do all this for free?” Well, while companies of any size can use the software free of charge, CoGo is paid through insurance carriers.
A third company, Gusto, is comparable to Bamboo. Their main package runs for about $39 a month and $6 per employee.
A unique trait about Gusto is that it integrates with Capital One bank accounts. In addition, the company offers the first month free with the ability to cancel at any time!
What is the Right HR Software for my Business?
Regardless of software prices, it is important to have some basic goals and ideas of how HR software can help you accomplish these. Here are some specific aspects to think about:
How many employees do you have? Given that most HR Software providers charge on a per employee rate, this is important to know.
It is only important to know given that trying to centralize the payroll of 30 employees is a lot simpler of a task than trying to centralize the payroll of 1,000.
Different programs are designed for different industries. While some are adaptable to industries across the board, it might be worth it to invest in software that is specialized in your sector of the market.
For example, companies in the education field have very different hours demands of employees, vacations, onboarding processes. Therefore, schools and educational institutions, generally, use an HR Software that fits these unique qualities.
As we have seen, software prices vary greatly. How much are you willing to spend? Many companies often allow you to use their product for a month completely free of charge.
As a business, you may want to take advantage of this. Go through a trial and error period to see which product is the best match.
HR Software is a very large umbrella term that covers a lot of different tasks. It’s imperative for you to know exactly what you need help with as a business.
We like to say, “If it’s not broke, don’t fix it!” In other words, it can be tempting to use software for every aspect of your business. While sometimes, this makes things a lot more efficient and works wonders for your business, in other cases it’s not totally necessary.
In addition, all services do not always come in one complete package with one price. As we saw with Bamboo, payroll services ups the price tag by $4 per employee and $25 per month.
HR Software Brands
When it comes to buying software, you will first need to weigh out your options. What are your priorities as a business? What is eating up most of your time? What is most important to your clients? to your employees?
These are the questions that need to be answered when you are looking into buying HR software. You can also check out this buyer’s guide for more factors to think about.
Here is a breakdown of different software options. Although, there are many, many others out there!
- Kronos: Kronos adapts to businesses of all sizes and operates on Windows or Mac systems alike. It is a cloud-based solution that allows you to create a customized you own employee data management system.
- ClearCompany: ClearCompany software is generally best for small to medium-sized business, across all different industries. It’s great for on-boarding and new talent management.
- Sage Payroll: This payroll product centralizes salaries across the different departments of your business. Toward the less expensive end of the spectrum, it offers full services for report writing, checks delivered, among many others.
- Ascentis: While the price is toward the higher end, Ascentis software wears many different hats. From performance reviews to recruiting the software is extremely adaptable to the needs of your business.
- APS: Stands for Automatic Payroll Systems Inc, and provides payroll and tax services to clients. In 2004, the company came out with a cloud-based solution to human capital management.
- BirdDog HR: This product is catered to the industries of construction, supply, and engineering. BirdDog helps optimize the hiring process and is designed for businesses of all sizes.
Good luck shopping For Your HR Software Solution!
We hope you have benefited from our breakdown of HR software prices and types.
As your business grows, using software becomes less and less and less of an option and more and more and more of a necessity.
Happy shopping and good luck!
What else is included in HR software? Employee background checks, retirement plans, general liability, PEO employee leasing, and workers compensation software solutions.