Before you “take the plunge” and purchase an HR software solution it is best to determine if you need the system, and if you do, what exactly will best meet your needs. It is imperative to be brutal in your assessment. Take the time to define your organization’s goals, such as reducing administrative time spent on filling out paperwork and filing the papers, keeping more complete records, securing confidential data, being able to quickly run reports, or saving a back-up of personnel information for disaster planning purposes.There are many other things to consider prior to purchasing an HR software solution for your organization. These include:
The need to streamline processes to devote more time to strategic level objectives
Increasing the communication across all management levels
Don’t have the physical space for all the paperwork
Storing historical data for both current and former employees
Recording performance evaluations with performance management goals, as well as historical wage rate and salary information
Keeping track of training, benefits, disciplinary warnings, and workplace accidents
Calculating time-off accruals for vacation, sick, or PTO timeHR Software solutions programs also have the capability to have multiple user-licenses, which allows for users to have specific access to the program, such as access to employee performance reviews or time-off records, for example. More specifically, the HR manager or business owner could have full access to all employees’ information, while a manager could have access to his or her employees in their department.This capability is efficient and convenient for both the manager and payroll, such as if an employee calls in sick, the manager can just go into the system and make that notation, rather than trying to remember to relay that information to payroll. Under the performance management access, the manager can write the annual review where it will be stored and backed-up without worrying if the review was saved or not.Implementing an HR software solution into your organization is a great investment for streamlining processes and freeing up managers and HR staff to perform more strategic goals of the organization. The system doesn’t have to be fancy, but it does have to be functional.

Key Insights
The strong pullback in the U.S. dollar provided significant support to stocks.
Treasury yields have pulled back after touching new highs, which served as an additional positive catalyst for S&P 500.
A move above 3730 will push S&P 500 towards the resistance level at 3760.
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Pfizer Rallies After Announcing A Huge Price Hike For Its COVID-19 Vaccines
S&P 500 is currently trying to settle above 3730 as traders’ appetite for risk is growing. The U.S. dollar has recently gained strong downside momentum as the BoJ intervened to stop the rally in USD/JPY. Weaker U.S. dollar is bullish for stocks as it increases profits of multinational companies and makes U.S. equities cheaper for foreign investors.

The leading oil services company Schlumberger is up by 9% after beating analyst estimates on both earnings and revenue. Schlumberger’s peers Baker Hughes and Halliburton have also enjoyed strong support today.

Vaccine makers Pfizer and Moderna gained strong upside momentum after Pfizer announced that it will raise the price of its coronavirus vaccine to $110 – $130 per shot.

Biggest losers today include Verizon and Twitter. Verizon is down by 5% despite beating analyst estimates on both earnings and revenue. Subscriber numbers missed estimates, and traders pushed the stock to multi-year lows.

Twitter stock moved towards the $50 level as the U.S. may conduct a security review of Musk’s purchase of the company.

From a big picture point of view, today’s rebound is broad, and most market segments are moving higher. Treasury yields have started to move lower after testing new highs, providing additional support to S&P 500. It looks that some traders are ready to bet that Fed will be less hawkish than previously expected.

S&P 500 Tests Resistance At 3730

S&P 500 has recently managed to get above the 20 EMA and is trying to settle above the resistance at 3730. RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

If S&P 500 manages to settle above 3730, it will head towards the next resistance level at 3760. A successful test of this level will push S&P 500 towards the next resistance at October highs at 3805. The 50 EMA is located in the nearby, so S&P 500 will likely face strong resistance above the 3800 level.

On the support side, the previous resistance at 3700 will likely serve as the first support level for S&P 500. In case S&P 500 declines below this level, it will move towards the next support level at 3675. A move below 3675 will push S&P 500 towards the support at 3640.