In 1977, MIT graduate Mark S. Ain founded Kronos. It has one of the best records of growth and profitability as a publicly traded company. Aron Ain succeed his brother as CEO in 2005. Mark Ain is still the chairman of the board of directors.
The company originally manufactured time clocks. The company makes most of its profits from software and services, including workforce management, consulting, and education. For its cloud-based services, Kronos has as powerful data center with three tiers of security, including a backup data center in the instance of a disaster. Kronos was recently brought by Hellman and Friedman and JMI Equity for $1.74 billion.
- Services for companies of all sizes
- Mobile app
- Management features
- API platforms
- Time clock
We felt that Kronos is one of the best companies for small, medium, large, and enterprise-level companies. The recent purchase by Hellman and Friedman unleashes some capital into the Kronos Workforce R&D paradigm, meaning more stable releases and better updates for current Kronos users.
Another feature of the product that we liked was the mobile app for employees. With their iOS, Android, and Windows phones, company employees can:
- Clock in/out.
- Request time off.
- Put in sick time.
We also saw robust manager features built into the Kronos mobile platform, including the ability to:
- See and set schedules.
- Manage employees.
- Approve timecards.
Overall, Kronos has one of the best mobile setups in the industry.
Kronos is scalable and manageable. While we couldn't get the full range or basic prices without a consultation, we saw solutions on the contract pricing page that ranged from $6,000 to the $24,000 bulk investment for companies with 100 employees.
One of the things about Kronos is that they have an in-depth knowledge of the different verticals that they served. While reviewing their website, we saw that they had major clients in healthcare and other industries. We also saw Kronos applications for the gaming industry.
Another great feature of Kronos was that the company has multiple API (over 500) platforms to help companies integrate their legacy HR systems. We found integrations with SharePoint, Websphere, and Oracle that integrates the Kronos system into web-based solutions.
We weren't quite able to get a full picture of the social media solutions available with Kronos, but we did find that Workforce Talent Management includes some integrations for social media. With Kronos Workforce Talent Management, there are tons of features built into talent acquisition, including:
- Application Tracking: Finding customers online and tracking your best fit candidates.
- Screening and Hiring Portals: You can do everything from run a background check to do a skills assessment with your potential hires.
- Let Your New Hires On Board: Define what their eligibility is, submit W-4 and I-9 forms online, and get payroll deductions set up.
Kronos also makes it easy to keep your hired employees tracked. We found that Kronos lets you track your employees as they transfer from different sites or departments, while maintaining their benefits packages across the board. It's also possible to do batch performance management, including employee self-reviews. Another important feature of Kronos is the asset management toolkit. With this package, you can track your company resources, including software licenses, computers, vehicles, and other pieces of "hardware" and software. Finally, all the compensation information you need is available for you at the touch of your fingers.
Finally, we really liked the time clock that Kronos uses. There are some really neat features, including:
- A large 7" touch screen, with full-color LCD.
- Biometric verification for better payroll accuracy.
- Supports different employee badge types.
- The LED indicator is easy to understand.
We also felt good about Kronos and their work badge solution. Kronos partners with a company called Laminex to make customized ID badges for all of your employees. This is an important feature, as it is possible to integrate your photo ID badge with a proximity sensor for a best fit work badge solution.
- Social media integration
- Workforce Integration Manager tool
The negatives with Kronos were minimum. We did find it hard to navigate their transparency, meaning that the prices were not easily viewed on the website. While Kronos prides itself on finding the best fit for a business, we would like to see standard information, such as basic service, setup fees, and other expenses. Speaking of prices, we were able to find out that it does cost to upgrade to a new release.
We wanted to know more information about Kronos Workforce social media integration. We found out that it interfaces Workforce Talent Acquisition with social media. We would like to see what other Kronos Workforce solutions integrate with social media.
Another issue we had was the Workforce Integration Manager. This is a complicated tool that lets you customize the dashboard/interface for your managers. This tool is a little bit clunky at first, but after a while, a seasoned administrator can streamline it to automate a company's workflow and payroll solutions.