More and more companies are investing in human resource management systems (HRMS). The promise of easy access to data is one of the primary factors that drive businesses to implement such software.
In fact, the software segment accounted for the largest market share of over 68% in 2020. This growth can be attributed to the rapidly developing HR landscape and the surging demand for a technology that improves the overall efficiency of human resource teams.
If you are curious whether your company utilises a comprehensive HRM system, carry on reading. We listed down a few positive signs that show you have invested in the right software solution.
- Streamlined Documentation
Human resource departments manage several documents—from employee information to company policies, HR forms and checklists, HR workflows, employment contracts, statutory documents, and more.
Companies that still practice physical documentation face the risks of a paper-based HR management system. Examples of such challenges are lack of control over sensitive data, prolonged processes, data errors and inaccuracies, high paper costs and ineffective data monitoring.
Contrariwise, businesses that successfully implemented HR software are likely to streamline their documentation processes. Human resource management systems work under the cloud. This means all data is processed and stored in one place.
Not only does HRMS eliminate the need for filing and printing HR-related documents, but it also ensures that company data, including confidential information, are stored safely and will not get stolen, misplaced, or lost.
- Improved Hiring & Onboarding
Hiring and onboarding are two core human resource processes. Businesses, especially those looking into expanding their operations, ramp up their hiring and onboarding efforts to cope with the expansion.
If you are currently using an HRM system that allows job postings and integrates with your company website, and employment-service providers, that is good news. You are not only getting your money’s worth, but you also help your HR team to improve their recruitment procedures.
Also, the credit goes to the system’s centralised database. HR technology provides a single source for all the onboarding-related documents, including:
- onboarding checklist
- new employee announcement email
- employee welcome email
- new hire checklist
- job offer email
- company policies checklist for new hires
- appointment letter
Since all documents are easily accessible at the touch of the button, it would save your HR staff some time, speed up the onboarding process, and spare more of their hours on many other value-adding tasks.
- Better Employee Data Management
Employee database management is another crucial HR role. Human resource teams should organise and manage all the employee information to make data-driven decisions.
As with other HR functions, they also involve documents that must be completed, updated, and monitored. These documents may contain personal information, such as birthdays, education, contact number, training, certifications, and more.
Unlike traditional human resource management systems, HR software allow speedy tracking or search of such documents. There is no need for scanning through a pile of employee documents or going through the storage room to know everything about your employees.
You can even check your employees’ time and attendance in real-time and monitor their performance directly from the platform. The latter software feature may help in identifying employee training needs and potential learning opportunities.
Was it easier for your HR manager to create career development programs after the HR software implementation? Thank your HRMS because it helped with data management and enabled the easy gathering of business intelligence.
- Optimised Business Performance
The HR work is not limited to hiring and training employees; it also plays a pivotal role in optimising a business’ overall performance. Human resource professionals take care of organisational integrity; they develop company policies, and monitor employee productivity, among other things.
With a reliable HR system in place, businesses can meet their KPIs, perform payroll activities timely and accurately, and track costs or financials. HRMS makes it easier for HR departments to assess absenteeism rate, attrition rate, employee productivity rate, and other outcomes.
Also, there are numerous laws and regulations that HR professionals must navigate to protect the organisation’s reputation. These laws relate to several aspects, including data compliance and payroll accuracy.
Thankfully, human resource management systems guide companies to the road of compliance. They keep pace with changes to the current labour laws and tax or social security rates, ensure privacy and safety of user data, and help manage payroll correctly and automatically.
HRMS is not only the solution to routine and time-consuming HR tasks; it provides tailored solutions, benefiting organisations at large. It streamlines the documentation process, improves hiring and onboarding procedures, makes data management easier, and optimizes business performance.
If your company has experienced first-hand the above benefits of human resource software, then that is a sign that you invested in a good one. Having a system that turns human resource management tasks into something more manageable would always be worth the investment.
(Visited 2 times, 2 visits today)