Every firm has some employee who needs a formal agreement between the company (Employer) and the employee. Several details contain several work hours/ days, roles, reporting structure, deductions, and duties.
An appropriate employee contract management helps the Human Resources department update different details such as job position, terms, department, condition, work duration, etc.
Every HR department comprises numerous duties and tasks concerning each organisation’s employee. Since the employee duties, pay scales, and responsibilities are different, it can be a tedious task to create employment contracts for different ranges. It is pivotal to have a proper contract management tool to assist HR with accurate automation and documentation in such circumstances.
The fantastic Odoo Employee contract module can streamline the Workflow. Furthermore, it assists HR personnel in making contracts with firm policies and applying distinct clauses, perfect for each employee’s job role and description. It helps avoid employee claims due to their contracts, which are being drafted in the same terms as those of other employees. The solution also allows HR to monitor contractual alterations during contract review and obtain consents through automated workflows.
Therefore, here we will know more about how the Odoo Employee contract management process flows and how it can help you in configuring it for your HR department. But first, let us understand why the Odoo contract management module is pivotal for your business.
The creation of contracts in Odoo is convenient and comes with a bucketful of features. Just with few clicks, you can automate and develop contracts. If you want to initiate this module, you must first install the employee module from the database. Here is how to do it!
Installing Odoo Employee Contract Management
- First, install the Odoo employee module, and then create employee.
- Fill in all the vital details, and once you are done, click on Contract.
- Once you fill in the information, you can Contract Reference, Department, Employee Name, Job Position, Salary Structure, and Contract Type, and then click on Save.
- Fill in all the needed fields like Wage Type, Default Work Entry Type, Structure Type, Default Working Hours, Country, and then click on Save Button.
- After that, you can click the structure button, which you can navigate at the right corner to make the employee’s new salary structure.
- By clicking on the structure button, you can develop the salary structure of the employee. FFill in all the data tabs, then click on the Save & Close button.
- Now add the time for every day of the week and include the Terms of Contract such as end date, start date, working schedule, end of the trial period, and scheduled pay.
- Start Date: It means the start dates of the Contract.
- End of Trial Period: It depicts the ending date of the contract trial period.
- End Date: It shows the end date of the Contract.
- Working Schedule: This means an employee’s global leaves, and day-wise working.
8. Under the Salary Information tab, you can add all the salary details like wage type,
wage, and more.
Odoo employee contract management: benefits
A contract on Odoo can be understood as an agreement between an employee and the employer. The Contract helps a company to involve in enhanced relationships with an employee. Furthermore, it also helps your business clearly state their needs, conditions, leave policies, pay structure, and other policies as stipulated in the contract. ERP can further assist the business in strategizing all activities in a much efficient manner. From the development of the Contract to signing it, all can be managed with ERP.
It becomes a convenient task for the employer to handle the contract period and convey all other operations while using Odoo ERP. The fantastic Odoo ERP enables human resources development to ensure continuous tracking of the contract conditions and contract expiry period.
Here the Contract is a document signed by the employer and employee depending upon a set of conditions. The conditions include the payment rate, working hours, the employee’s responsibilities, and the firm’s policies. The job contract consists of many details, including the employee’s name, salary structure, work permit, department, contract period, job position, etc.
Here the creation of a contract alone will not be enough for efficient staff management. You need time to time to update and renew the Contract and make important alterations when there is any change in the employee’s location and job position.
Odoo makes it convenient for an employer or the firm’s HR wing to create an employment contract. Here the Contract can be developed by choosing the employee and the department. In the same manner, the user can handle an employee contract with Odoo 14.
- Open the app and go to the dashboard to get all the employees’ details.
- Just go to Employees -> Employees -> Contract
- Here you can get all employee contracts listed. User can get new contracts, expired contracts, running contracts, and cancelled contracted. Furthermore, the user can create more contract categories with Odoo App.
Edit an Employee Contract
It is an amazing feature that helps the user make changes in the employment contract, changing the job location or position. Furthermore, the user can also make payment revisions, and other factors can also be included after every appraisal activity. The updating of the Contract can help to develop the Contract into a specific document.
The Contract has data such as department, company details, contract type, employee name, salary structure, job position, and the salary period.
In addition, it can also contain information such as HR responsible, working schedule, etc. There could be various types of contracts like PFI, CDD, etc.
The user can do the renewal work in a few steps using Odoo. As the Contract status can be viewed at a glance, the HRM team can update the Contract and send a revised offer to the employee.
Update Salary information
Updating the salary information is yet another significant edit feature that is given here. It can be used to update the salary information in the Contract just after every salary increase. The total amount, total cost, vouchers, monthly merits in various kids, including internet charges, laptop assistance, mobile phone chargers, and other details, can be updated.
View Contract Status
It is yet another feature that helps the HR wing to achieve the contract renewal and cancellation goal. The contract can be ended based on Employees’ performance and can also be renewed if the performance is predictable.
Odoo Subscription Features
- Automated Contract Management. Automatic creation of clear contracts checks a quotation with frequent products. After that, the Contract is created with the right and correct settings plus products.
- Automatic Customer Invoicing. Automated invoicing means extracting the invoice data, then populate the information in an accounts payable system, lastly process invoice data for accounts. Automated customer invoicing helps to save time and money as well.
You can also check the invoicing process’s speed up just by automating it after conveniently setting up your consumer’s data. It helps in accounting and is automatically updated, which further includes invoice creation, payment encoding, and validation as well.
- Automatic Tax Handling. It is yet another amazing feature of Odoo Subscriptions that it allows you to manage your taxes automatically. Yes, you can do it in real-time, depending on your settings of rates and regions too. There are ample benefits of automating your tax, such as:
- Rapid processing of financial figures
- Timely and exact record-keeping
- Faster processing of financial figures
- Peaceful plus hassle-free filing of taxes
- Hassle-free and anxiety-free tax filing.
- As the expenditures are fewer when compared to manual labour expenses, there are higher cost savings
- Enhanced alignment with tax structures, exemptions, and obligations
- Rating. Getting a rating about the service matters a lot. Customer feedback is crucial to figure out the loopholes. You can conveniently attach the email template to a stage and get customers’ feedback regarding services.
- Automatic Payments. Who does not want an online payment to get handled automatically? It is super impressive, and here you get this feature. It helps you in several ways such as:
- Very little time gets wasted while writing bills
- No delay in payment
- You can save money on postage
- It allows you to make the payments automatically via the very safe site
- Convenient Signups. Providing the customers with a flawless, fast, and safe signup interface is extremely important. Easy signups make your consumer’s life free from hassle, and it also seems interactive to them. The Odoo Subscriptions allows you to send contract management and sales order pages directly to customers through secured URL access.
- Login Not Required. Most of the time, you need to log in to the website to check the quotations and contracts. But with this feature, you do not require to create an account on your website. It allows you to browse even without signing up, which is fantastic!
- User-Friendly Client Portal. The customer portal is yet another significant feature in today’s life. It gives clients access to all their essential data in detail. They can conveniently glance at invoices in pdf format, running contracts, orders, and interactive quotes allowing clients to be in touch with the salesperson.
- Editing Option for Clients. The Odoo subscription offers the customers an incredible feature of editing! Yes, one can modify contact details. Plus, they can fine-tune access rights to contract options too. Furthermore, it also gives the customers an extra display option to allow them to remove and add from the contracts.
- Rich Overview. A better overview of the online Contract enables the customers to navigate through their details. One can also browse invoice address, options, recurrence, payment, next invoice date, and plan.
- Customer Invoicing and Convenient Payment. One more fantastic feature you get here is that it allows the customers to contact automatic payments on credit card registration. Furthermore, it also automatically receives invoices via email.
- Contracts Closable by Clients. The customers get the option to close their contracts independently and give a reason regarding their decision.
- No Loss of Data. Loss of data is yet another big problem that people usually face. But here, the information is securely stored even if the payment doesn’t go through.
Analytics and forecasts
- KPI Tracking. In simpler words, KPI tracking means the methods and tools that firms use to track performance metrics. Its primary goal is to measure the progress toward specific long-term purposes that have quantifiable milestones and goals. You can track Non-recurring and net revenue, Annual run-rate, Revenue churn, Average revenue per Contract, Logo churn, and contracts.
- Understanding Business Growth. One more feature here helps you predict the annual MRR growth and the annual contract’s growth.
- Monthly Repeated Revenue. It enables you to automatically recognise the revenues they incur, such as New, Expansion, Churned, Net New MRR, and Down.
- Customer Churn Analysis. One can know the reason behind losing customers with this feature. It helps in identifying the cause of churn and them implementing the needed strategies for retention.
- Cohort Analysis. The customizable cohort analysis helps in tracking your customer retention rate, which is yet another beneficial feature.
Sales performance analysis
- Analyze Per Salesperson. One can inspect each sales team member’s impression on your MRR for New, Expansion, Churned Down and Net New MRR per Salesperson.
- Create Templates. It helps in saving time by creating, and it also uses the contract templates for your most common scenarios.
- Set Up Billing Scenario. Another helpful feature is that it supports price lists, units of measure, and discounts.
Health Check. It enables you to set up conditions on every subscription template in order to distinguish your subscriptions in bad health or in good health.