Namely is the perfect HR Platform for mid-sized companies – ranging from 25 employees to up to a thousand – and it is used in just about every industry and every state nationwide.
According to breathehr.com, HR software simplifies employee management and saves you (and everyone else) a lot of time. You may focus on the things that keep your staff happy and focused on the job at hand by spending less time digging through manual paperwork.
While Namely may look like that perfect HR software with all its amazing features, Finding out Namely pricing will be a sticking point.
Let’s head straight in!
What Is Namely?
Namely is a human resources (HR) platform that was created with mid-sized businesses in mind. It was founded in 2012 in Brooklyn.
With offices in Los Angeles, Austin, San Francisco, and Atlanta, as well as a headquarters in New York City, Namely is now a licensed benefits broker in all 50 states.
Namely announced payroll as part of its primary service in 2014, after branching out after releasing its initial platform. Namely now claims to process over $10 billion in payroll each year.
In 2020, they moved on to expand their payroll options, developing a Managed Payroll option that allows businesses to stand back and let Namely handle the details. Namely currently serves over 1,400 organizations and is expanding its HR platform to fulfill the needs of small and medium-sized businesses.
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How Much Does Namely Cost?
Namely, like many other HR software platforms, is a quote-based business, thus you’ll need to contact them for pricing information. On their website, there is no precise pricing or cost information.
You can obtain a demo of Namely’s service and learn more about pricing for your organization’s size and demands by calling or emailing them directly.
What Are The Plans Offered By Namely?
With Namely, you begin with the HR Fundamentals tier, which includes onboarding, an employee directory, time-off monitoring, performance and goal tracking, a compliance database, an org chart, and a corporate news feed, among other features.
Here’s an outline of the plans offered by Namely:
1. HR Complete Tier
Namely payroll assistance begins with the HR Complete tier. This tier covers HR Fundamentals as well as payroll, benefits administration, compliance assistance, time and attendance support, and a recruiting platform.
With information synchronized from the broader HR platform, Namely payroll is kept up to date. This platform connects all of its capabilities with one another to establish a cohesive approach and sync data across its various tasks, rather than connecting third-party programs, like time-tracking software, with your payroll software.
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2. Enhanced services
You can upgrade to Namely’s Enhanced Services, which includes managed payroll if you want to delegate payroll to them.
With Namely’s Managed Payroll, you get a dedicated payroll adviser. The consultant will manage your payroll calendar, garnishments, tax filing and reporting, and the printing and distribution of W-2s to employees at the end of the year.
In other words, at this level, Namely functions similarly to an in-house payroll and benefits department without actually being one.
Features of Namely HR Software Platform
Namely software has many features that satisfy each user’s needs. One of the unique and enticing characteristics of the Namely HR software platform is its all-encompassing nature.
The platform’s various functions are divided into the following categories: contemporary HR, payroll, time management, benefits, talent, and managed services. The following is a list of what each of the categories entails:
1. Namely Modern HR
Namely is first and foremost a cloud-based core HR software that provides you with fundamental HR functionality. You may use Namely to construct a bespoke employee database as well as an organizational chart.
The platform maintains employee data and documents, and you can assign precise roles and permissions to control who has access to what data.
You can also track employee data and automate approvals for activities like wage modifications and promotions with Namely’s bespoke analytics dashboards and workflows. Additionally, you can also track employee time off.
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2. Namely payroll
Namely’s platform includes full-service payroll capability, allowing you to sync payroll with all of your HR and benefits data. When you use Namely to administer your payroll, the platform keeps track of benefit deductions and provides extensive information. It can also help you keep compliant with local, state, and federal laws by filing your taxes on your behalf.
Furthermore, Namely links the time portion of their service with payroll, making it simple and accurate to pay your employees. Employees can see their pay stubs as well as their payment history through this system.
3. Time management feature
Having great time-management skills can ultimately lead you towards the accomplishment timeline, easily achieve your set goals and advance your position in whatever you are doing.
Namely provides full-time management tools, allowing your employees to track their time and import those hours into payroll. Namely, for example, offers online, smartphone, and physical time tracking.
Employees can clock in and monitor their hours online or by the mobile device; however, Namely software can also be integrated with actual time clocks, allowing employees to punch in using a PIN, fingerprint, or ID card.
You may also use this time management feature to build and manage staff schedules, manage overtime hours, make mass modifications to schedules, and see time management data and reporting using the visual dashboard.
4. Namely Benefits feature
Benefits management is provided by Namely. This feature allows your employees to enroll in a wide range of benefits, including medical, vision, dental, FSA and HSA, telemedicine, and life and disability insurance.
401(k) plans, additional employee fringe benefits like gym memberships, commuter perks, accident, and illness plans, and atypical choices like pet insurance are all possible with Namely.
Namely’s benefits advisors may also assist you and your team in developing a long-term benefits strategy that includes carrier partnerships, enrollment support, and compliance.
5. Exchange feature
Namely’s recent partnership with Cigna birthed the exchange feature. This relationship includes an online marketplace where employees can purchase from a variety of Cigna benefit plans that you’ve selected for them. Employees select a plan, which is then forwarded to Cigna, and benefit deductions are automatically put into the Namely payroll section.
Even if you don’t use Cigna as your benefits provider, Namely still lets you manage benefits from your current provider.
6. Namely Talent feature
Namely not only meets your basic employee HR needs, but also assists you in establishing a business culture by assisting with onboarding, employee goals, and reviews.
When new employees join your company, Namely’s eSignature feature allows them to swiftly and easily fill out and sign the relevant paperwork.
You may also use Namely to define and manage staff goals, competencies, and tasks. In addition, you can set up automated review cycles and ask managers, employees, and coworkers for comments.
You may also create and send bespoke surveys to get feedback from employees, as well as export performance data for compensation and succession planning.
7. Namely managed services feature
Finally, the Namely platform is backed by the Namely team’s expertise. Namely can assist you in setting up and administering their platform, as well as offering HR advice and answering any queries you or your employees may have.
Experts from Namely will assist you in developing your workflow as well as reviewing your organization chart, templates, and other items.
Payroll processing and reporting, benefits administration, taxes, compliance, and employment verification are all things that Namely’s support team can assist with.
Benefits Of Using Namely
For medium-sized enterprises with 25 to 1,000 employees, Namely is the best option. Namely is, at its core, an HR platform tailored to the demands of mid-sized businesses. It’s an all-in-one solution that lets you pick and choose which parts of its software you want to use to satisfy your demands.
Instead of bundling or integrating multiple third-party applications into your payroll software, Namely can handle the majority of your demands right away. Because everything is on one platform, the payroll software can draw data straight from Namely’s time tracking software and other aspects of the platform to ensure that everything is in sync, saving you time from having to manually enter your employees’ hours.
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Pros and Cons of Using Namely Software
Namely stands out for its ease of use and its wide range of features. Here are the advantages and disadvantages of using the Namely software.
Pros
- Namely has comprehensive human resources (HR), payroll, and benefits solutions designed around the needs of small to midsize businesses (SMBs).
- It offers strong employee management and performance review features.
- The HR app is a good option for small business owners.
- Namely provides 24/7 client support.
- It provides security for different layers of data.
- It is supported on Web, Android, iOS and desktop.
Cons
- It doesn’t have an expensive option for larger businesses.
- The software’s compensation section feels limited in tracking salary changes after performance reviews.
FAQs On Namely
Namely does not have a trial period. However, they will provide a presentation of their products and support services.
Yes, Namely offers direct deposit. During the onboarding process, employees are asked to fill in their bank account and routing number via a secure link.
Namely, like many other HR software platforms, is a quote-based business, thus you’ll need to contact them for pricing information.
Conclusion
Namely has grown in popularity over the years. It was created with the objective of assisting mid-sized enterprises in creating a better workplace and engaging their employees. If you’re looking for the best HR software for your small business, you can try it out.
Namely software is available for use on web, Android, iOS, and desktop versions.
References
- usnews.com – Namely Payroll Software Review and Prices
- fundera.com – Namely Review 2022: Pricing, Features, Alternatives
- namely.com
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