The Most Budget-Friendly HR Software Platforms for a Recession

As our economy heads into a recession, it can be an important time for businesses to analyze their software spend. Finding a solution that can do what you need it to, without the inflated price tag, can help your dollar go further in 2022. Here are some of the most budget-friendly options in the HR software market today:

Brett Ungashick
OutSail HRIS Advisor
July 4, 2023
user comparing HRIS systems

2022 has seen inflation early in the year and a federal reserve response to raise interest rates. This has had the effect of cooling the economy and leading us to a recessionary environment where growth has been negative the last two quarters.

Companies always try to tighten their belts when entering a recession, and one way to get costs under control is to opt for more budget-friendly and cost-effective software platforms.

Many HR leaders will see their budgets flat line or shrink in 2022, so they will need to make strong, cost-effective software decisions as they build their HR software toolset.

Below are some of the most cost-effective solutions in the HR technology space. Note: cost-effective does not mean lowest price, but instead is looking for the best combination of ROI and competitive price.

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For companies that do not have an ATS in place, the amount of manual tracking that HR leaders have to manage in a recruitment process can become unbearable. They often have to check email aliases for new candidates, track the interview stages in a spreadsheet and build offer letters from scratch.

JazzHR offers a modern, full-featured ATS platform for less than $500 / month. For that price, employers can have: their jobs distributed throughout the web, simple candidate tracking, automated communication to candidates and hiring managers and digital offer letters.

SMB HRIS: Netchex

One of the biggest shifts that we've seen in the HRIS market lately is companies opting to pursue options with better service reputations. The Great Resignation has led to a wave of resignations in the service industry and this has particularly impacted the large, public payroll companies -- Paylocity, ADP, Paycor, Paycom, Paychex, etc.

However, boutique HRIS vendors, such as Netchex, have seen higher retention leading to more satisfying implementation experiences for customers. On top of their service model advantage, Netchex offers their payroll, time, benefits and HR platform for 20-30% less than some of their big box competition.

Mid-Market HRIS: Kronos (now UKG Ready)

For mid-sized companies, it can be an effective cost-saving strategy to bundle as much of your HR tech needs into one platform as possible. UKG Ready (formerly known as Kronos) is an all-in-one HRIS system that allows companies to do just that.

However, those familiar with UKG Pro's (formerly known as UltiPro) pricing will be surprised to learn that the UKG Ready platform is actually a tremendous value. Despite being a full suite system and offering very robust workforce management capabilities, UKG Ready is often the least expensive mid-market HRIS option on the market.

Enterprise HRIS: Ceridian

For companies with enterprise needs out of their HRIS system (global capabilities, high degree of configurability, security & permissions, etc.), the options can be very expensive. SAP, Oracle and Workday tend to be the most common options for businesses and all of those can come with significant software fees and even more expensive consulting fees to implement and launch the platform.

Ceridian can not only be more cost-effective than those other options when it comes to software fees, but they have also started offering a high degree of flexibility when it comes to their implementation costs, including the option to spread those costs out over 24 months.

Culture: Hibob

For modern employers, it's not enough to have an HR system that tracks and automates HR workflows. Modern companies are looking for tools that will help them understand and engage with their culture in meaningful ways that can drive longer tenures and happier employees.

In the past few years, there have been a lot of innovations in this area, with new companies creating smart, easy-to-use tools across: performance management, employee engagement, surveys, peer-to-peer recognition, and more. However, investing in a standalone tool for each area of need can get expensive quickly.

Thankfully, Hibob has gone the furthest in bundling these employee-centric tools into a modern HRIS. Hibob can be a true system of record complete with onboarding and time & attendance modules, but they really differentiate by putting employee engagement and development at the heart of their platform.

1. What are some key considerations for businesses looking for budget-friendly HR software platforms during a recession?

During a recession, businesses often need to tighten their belts and make more cost-effective decisions. When selecting HR software platforms, it's essential to consider factors such as pricing, return on investment (ROI), service reputation, and the ability to meet the organization's specific needs within budget constraints.

2. What is an ATS, and why is JazzHR recommended as a budget-friendly option?

An Applicant Tracking System (ATS) is a software application that helps organizations manage their recruitment process more efficiently by automating tasks such as job posting, candidate tracking, and communication. JazzHR is recommended as a budget-friendly ATS option because it offers a modern, full-featured platform for less than $500 per month, providing essential features such as job distribution, candidate tracking, automated communication, and digital offer letters.

3. Why is Netchex recommended as a budget-friendly option for SMB HRIS?

Netchex is recommended as a budget-friendly option for SMB HRIS (Human Resources Information Systems) due to its combination of competitive pricing and a strong service reputation. Amid the Great Resignation, Netchex has demonstrated higher retention rates in the service industry, leading to more satisfying implementation experiences for customers. Additionally, Netchex offers payroll, time, benefits, and HR platform for 20-30% less than some larger competitors.

4. What advantages does UKG Ready (formerly Kronos) offer for mid-market HRIS at a budget-friendly price?

UKG Ready, formerly known as Kronos, is recommended for mid-market HRIS due to its all-in-one platform that bundles various HR tech needs into one solution. Despite offering robust workforce management capabilities, UKG Ready is often priced as the least expensive mid-market HRIS option. This makes it a cost-effective choice for mid-sized companies looking to streamline their HR operations without breaking the bank.

5. How does Ceridian offer cost-effective enterprise HRIS solutions compared to other options like SAP, Oracle, and Workday?

Ceridian is recommended for enterprise HRIS solutions due to its cost-effectiveness in terms of software fees and implementation costs. While options like SAP, Oracle, and Workday can come with significant software fees and expensive consulting fees, Ceridian offers a high degree of flexibility, including the option to spread implementation costs out over 24 months. This makes Ceridian a more affordable choice for companies with enterprise HR needs.

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Meet the Author

Brett Ungashick
OutSail HRIS Advisor
Brett Ungashick, the friendly face behind OutSail, started his career at LinkedIn, selling HR software. This experience sparked an idea, leading him to create OutSail in 2018. Based in Denver, OutSail simplifies the HR software selection process, and Brett's hands-on approach has already helped over 1,000 companies, including SalesLoft, Hudl and DoorDash. He's a go-to guy for all things HR Tech, supporting companies in every industry and across 20+ countries. When he's not demystifying HR tech, you'll find Brett enjoying a round of golf or skiing down Colorado's slopes, always happy to chat about work or play.

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