Finance
Significantly reduce offboarding costs
Employee separations shouldn’t break the bank. Onwards HR creates efficiencies by accelerating the offboarding process. The more efficient the process, the greater the savings. Onwards HR also provides detailed financial tracking, simplifying the process and easily accommodating changes. By forecasting severance benefits and proactively addressing changes, you can make sure your numbers are right on the money.
Eliminate unnecessary spending
When offboarding employees, time equals money. Separation technology helps companies:
Reduce payroll costs by creating a more expedited process
Increase productivity by automating administrative tasks
Mitigate risk by implementing a process with built-in compliance assessment tools
Learn more about Onwards HR’s Workflow Management benefits.
Forecast severance pay
During workforce reductions it’s important to have real-time severance pay data.
Easily access severance pay forecasting by viewing which employees will receive severance pay and when
Eliminate severance overpayments with the help of a severance pay calculator
Manage finances by tracking total severance pay per event
Explore our Severance Package Management tools.
Easily manage changes
Stay apprised of changes that impact your numbers.
Receive notifications when employee changes take place, such as internal transfers or early resignations
Proactively access financials related to severance pay and timing based on certain employee circumstances, such as leaves and eligibility for severance
Check out our Employee Management features.
Track accrual status
Benefit from real-time financial accrual data.
Effortlessly track employee leave statuses and balances, ensuring that employees receive the appropriate pay
Easily reverse accruals if needed
Discover other perks of our advanced Reporting and Analytics functionality.
