Thrive HCM Software Overview
Thrive is an HCM software solution best suited to medium and large organizations that see the potential for automation and streamlined electronic HR management to improve the efficiency of existing processes. Thrive operates from a single, cloud-based database that allows human resources, payroll, time and labor, and many of the functions associated with these areas to be managed in real-time using mobile accessibility. Thrive makes it simple to manage the entire employee life cycle from recruiting through offboarding.
Thrive is not a stagnant platform, but an ever-evolving solution that is updated monthly in order to continue to meet changing organizational needs. In addition to the customizable features offered through PayServ Systems, Thrive also contains a portal within the dashboard that connects to third party applications. Through this portal, called the Marketplace, organizations can connect to parties offering background checks, PayScale, insurance, and other services to streamline organizational efficiency that much more.
Why People Are Choosing Thrive
- Simple and intuitive dashboard design
- Single streamlined database that brings HR, payroll, scheduling, and time and labor management together
- Real time information allows for more informed decisions
- Background checks and E-Verify accessibility make recruiting simpler
- Cloud based simplicity and mobile accessibility increase convenience and timeliness
- Single point of contact service model allows for more personalized assistance
- Straightforwardness of implementation and integration
How Can Thrive Help Your Company?
As the name implies, PayServ’s Thrive software solution can give your organization the tools that it needs to not just survive, but thrive. More than a quarter of revenues are allocated to labor costs in most organizations, making the workforce the single largest asset. It makes sense that managing this asset in the most efficient way possible would be critical to driving more money to the bottom line and ensuring continued growth and success. To make it simple, Thrive is broken down into five primary service offerings, which can help your organization in the following ways.
HR Management Helps Improve Workplace Efficiency
The HR management features within Thrive are designed to provide comprehensive assistance for employee management and reporting. Since things like recruiting, applicant tracking, onboarding, workflow management, scheduling, and time off tracking are inherently connected, Thrive brings these things and more together intelligently. Employee and management portals make real time requests and decisions possible and allow employees access to their own information and many company resources. In addition to managing the simple data like personal information and scheduling, Thrive also makes it easy for you to complete employee and managerial reviews, conduct employee surveys, and administer wellness programs. The availability of these features within the system gives you the unique advantage of being able to work on improving things that may have a strong but difficult to control influence on the organization, like productivity and employee satisfaction.
Time and Attendance Fully Manages Time Worked
Using Thrive to assist with time and attendance tracking can help to prevent fraud, notify you of absence and tardiness issues, and make payroll reporting easy. Time can be tracked using a virtual clock, smartphone, or time-clock hardware depending on which is more convenient for your organizational set-up. Since this feature is web based, managers and HR personnel can review and approve all time clock information at anytime from anywhere.
Payroll Services Provide Easy Compensation Management
Payroll information is calculated based off of collected time and attendance information and then exported directly into the PayEntry payroll administration software. From here, payroll taxes, garnishments, reimbursements, and bonuses are applied as needed. Thrive’s payroll processing services are extremely well backed up and protected for both company and employee security.
Makes Benefits Management Practically Effortless
Thrive provides the portal through which employees can enroll, manage, and view benefits 24 hours a day, seven days a week. The system facilitates the outsourcing of benefits in a way that is very easy to manage and that helps to keep the organization in compliance with laws with very little effort.
Thrive provides administrative outsourcing for benefits such as:
- Group life and health
- 401k plans
- Health Savings Accounts
- Health Reimbursement Arrangements
Simplifies Workers’ Compensation Compliance
Workers’ compensation is a necessary expense that can be tough to pay for and tough to manage without assistance. Thrive works with third party insurers to offer you the coverage you need while making it possible to pay as you go. The premium amount is calculated and deducted after each time payroll is processed, allowing the amount to be based on actual gross payroll so that you never pay more than necessary and you have the convenience of avoiding large up-front down payments.