On average, companies spend 20-40% of operating costs on employee-related expenses. These include employee wages, bonuses, insurance, and additional benefits. Manually tracking these expenses is very labor intensive and has a high likelihood of errors. In this discussion, let’s address how a HRIS can be used to track and monitor these costs. What are the benefits of using a HRIS for compensation and benefits? How can a HRIS be used strategically to determine the impact of these costs on an organization?
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