The HR function's reality

All in all, the HR function is still to a large degree administrative and common to all organisations. To varying degrees, most organisations have formalised selection, evaluation, and payroll processes. Efficient and effective management of the "Human Capital" Pool (HCP) has become an increasingly imperative and complex activity to all HR professionals. The HR function consists of tracking innumerable data points on each employee, from personal histories, data, skills, capabilities, experiences to payroll records. To reduce the manual workload of these administrative activities, organisations began to electronically automate many of these processes by introducing innovative HRMS/HCM technology. Due to complexity in programming, capabilities and limited technical resources, HR executives rely on internal or external IT professionals to develop and maintain their Human Resource Management Systems (HRMS). Before the "client-server" architecture evolved in the late 1980s, every single HR automation process came largely in form of mainframe computers that could handle large amounts of data transactions. In consequence of the high capital investment necessary to purchase or program proprietary software, these internally developed HRMS were limited to medium to large organisations being able to afford internal IT capabilities. The advent of client-server HRMS authorised HR executives for the first time to take responsibility and ownership of their systems. These client-server HRMS are characteristically developed around four principal areas of HR functionalities: 1) "payroll", 2) time and labour management 3) benefits administration and 4) HR management.

The payroll model automates the pay process by gathering data on employee time and attendance, calculating various deductions and taxes, and generating periodic paycheques and employee tax reports. Data is generally fed from the human resources and time keeping modules to calculate automatic deposit and manual cheque writing capabilities. Sophisticated HCM systems can set up accounts payable transactions from employee deduction or produce garnishment cheques. The payroll module sends accounting information to the general ledger for posting subsequent to a pay cycle.

The time and labour management module applies new technology and methods (time collection devices) to cost effectively gather and evaluate employee time/work information. The most advanced modules provide broad flexibility in data collection methods, as well as labour distribution capabilities and data analysis features. This module is a key ingredient to establish organisational cost accounting capabilities.

The benefit administration model permits HR professionals to easily administer and track employee participation in benefits programs ranging from healthcare provider, insurance policy, and pension plan to profit sharing or stock option plans.

The HR management module is a component covering all other HR aspects from application to retirement. The system records basic demographic and address data, selection, training and development, capabilities and skills management, compensation planning records and other related activities. Leading edge systems provide the ability to "read" applications and enter relevant data to applicable database fields, notify employers and provide position management and position control.

Typically, HRMS/HCM technology replaces the four core HR activities by streamlining them electronically; 1) payroll, 2) time and labour management, 3) benefit administration and 4) HR management. While using the internet or corporate intranet as a communication and workflow vehicle, the HRMS/HCM technology can convert these into web-based HRMS components of the ERP system and permit to reduce transaction costs, leading to greater HR and organisational efficiency. Through employee or manager self-service (ESS or MSS), HR activities shift away from paper based processes to using self-service functionalities that benefit employees, managers and HR professionals alike. Costly and time consuming HR administrative tasks, such as travel reimbursement, personnel data change, benefits enrolment, enrolment in training classes (employee side) and to instruct a personnel action, authorise access to information for employees (manager's side) are being individually handled and permit to reduce HR transaction time, leading to HR and organisational effectiveness. Consequently, HR professionals can spend fewer resources in managing administrative HR activities and can apply freed time and resources to concentrate on strategic HR issues, which lead to business innovation.

Graduate School Loan Center | Financial Aid and Funding for Graduate School

Do you need financial aid or a student loan for Graduate School? Graduate students are overwhelmed. Nobody wants loan funding for their graduate degree - but it is a reality. Now that you have come to that realization, you may be unsure about the next steps. GradLoans.com is a step in the right direction!
Our goal: It is our goal to get you from A to Z while providing simple and direct access to Federal Stafford, Private Student Loan funding options and School Consolidation programs and FAFSA Financial Aid Application resources. Along the way, take as many side detours as you like. We offer the most complete resource of options and solutions - no matter what your needs.
Who we are: GradLoans.com is a service of the Student Loan Network - a leader in education funding and your online guide to graduate school student loans, Grants and Scholarships and Financial Aid. We will walk you through the entire loan process, from completing the FAFSA form (including explaining what FAFSA stands for - Free Application for Federal Student Aid) to application through receiving your check. Hopefully, all your questions will be answered here. In addition to a wealth of information on your financial aid options, we provide detailed information on our student loan programs:

Federal Student Loans : Information and Resources

You've made a great first step on the path to financing your education with a Stafford Student Loan. Federal student loans are some of the most affordable financial aid tools available to students and families, with interest rates lower than most other forms of financing and deferred payments until after graduation. Stafford student loans can also be consolidated after graduation, making them even more affordable.
Start by reading through our How to Get Started page. It will give you the outline of how to apply for financial aid from the FAFSA through disbursement of your funds. Read through our Federal Student Loan section to find out the differences between subsidized, unsubsidized loans, and Perkins Loans. Also look through our Financial Aid 101 section to learn more about financial aid in general, from the FAFSA to searching for scholarships. Finally look through our Consolidation, Repayment and Resources sections for information that will help you after you've applied for the Stafford Loan.
Who we are: StaffordLoan.com is a service of the Student Loan Network - your online guide to Federal Stafford, PLUS Loans, student credit, and alternative student loans. We will walk you through loan process, from submitting the FAFSA Financial Aid Application (Free Application for Federal Student Aid) to completing the Stafford loan application through receiving your check. US Students studying abroad and international students in the US visit the International Student Loan Center for assistance.
After graduation, make sure to remember your student loans. Think about your repayment options and now might be a good time to consider student loan consolidation. When you consolidate your college loans, you are locking in todays low rates, combining multiple payments into one and lowering your monthly payment. Also consider loan forgiveness options for teachers and others who qualify.