By: Cesilia Faustina
The most important asset of a company is its employees. Ensuring that your employees are taken care of and managed effectively is a key achievement for one’s company. Therefore, HR will always have to stay on top of relevant affairs. This is why various companies from different industries are implementing software solutions to help reduce the operational hassles. Managing all employees is surely going to amount to a sack of workload and therefore companies look for ways to maintain that workflow and create a more conducive operation.
The most important asset of a company is its employees. Ensuring that your employees are taken care of and managed effectively is a key achievement for one’s company. Therefore, HR will always have to stay on top of relevant affairs. This is why various companies from different industries are implementing software solutions to help reduce the operational hassles. Managing all employees is surely going to amount to a sack of workload and therefore companies look for ways to maintain that workflow and create a more conducive operation.
HR software here can be defined as an HR management system that covers all related aspects of HR, such as payroll and compensation management, benefits and claims management, personnel management, learning management, and succession planning.
The 2019 global human resource software market has a value of USD 15.8 billion, according to Market Watch. Many organizations are using these systems to receive situational data about their organizations. Comprehensive human capital management systems have become the norm within business today and companies need to keep this in mind when handling their human resources.
HR management systems cover a number of integrated systems and software modules that help drive the digital aspect of HR departments.
Recruitment
The first process most HR managers have to face in their workflow includes the recruitment of employees. Recruitment continuously stands as a gruelling and tedious job with this volume of information. By adopting an HRMS recruitment processes may be quickened and stages documented. This creates a more efficient and organised workflow when looking to find the right candidate. All notes and documentation will also be fully recorded within the system to ensure that HR managers can always look back if they ever need to.
Status of a candidate can also be automatically changed based on how the candidate did and may be immediately processed as hired or transferred to the personnel stage. The ability for organization and easy tracking drives the digitalization of the HR workflow.
Integrated Payroll
The rising number of employees companies have to deal with, whether big corporations or SMEs, is something inevitable, which means handling payroll may become an even more overwhelming task. This situation has led many organizations to take advantage of HR software in order to help them manage the increasing volume of payment that needs to be made. A payroll module is a huge deal in the HR market. One of the main reasons for purchasing an HR management system is its ability to manage the employees’ payday.
A human capital management system will help to automatically place an employee’s salary with the correct data and information, as well as calculate any bonuses, leaves and hours into account. This means that every month employees will efficiently receive their salaries without any troubles or lateness.
Personnel management
Having a good relationship with employees is crucial for the success of a company. It may not be such an easy job for HR managers to handle the amount of data and employees though. This is why a personnel module also becomes a key factor in HR software functionality.
A personnel module will document all employee details, such as their past experiences and any training they may need to take, as well as contracts and any relevant essential documents. By storing such information within a digital platform, it will help HR managers to manage and track their employees and help them with any support they need.
Appraisals
Such a system can also easily track employees’ appraisal system, where their performance reviews and achievements can be easily documented. Tracking employees’ status and their achievements is no easy job, especially with the amount of data being dealt with. A digital system ensures that the progress of employees is easily measured and taken care of.
Such a module creates greater organization for businesses to stay on top of the game and ensure their employees are receiving what they deserve. This in return will create greater employee relationship and respect.
Organizational Development
Employee education and training can be something taken lightly by many organizations today, mainly because most companies feel like there is just not enough time for training and logistically it can be a real hassle. Utilizing the benefits of training systems to assess, plan, deliver, and track educational services can help. Most HR software comes with a training module to help organizations better plan and fulfil their employees’ training needs. The use of a training module on top of personnel and payroll creates a complete package for HR managers to thrive.
Organizational Development
Employee education and training can be something taken lightly by many organizations today, mainly because most companies feel like there is just not enough time for training and logistically it can be a real hassle. Utilizing the benefits of training systems to assess, plan, deliver, and track educational services can help. Most HR software comes with a training module to help organizations better plan and fulfil their employees’ training needs. The use of a training module on top of personnel and payroll creates a complete package for HR managers to thrive.
Comprehensive HR modules
Other modules within an HRMS also contribute to many organizations adopting this digital trend, some of which include time and attendance and vacation management. These are a few of the modules that can be seen within an HRMS, and ones that are truly beneficial for the success of an HR department. Having all the modules in one creates a powerful system that many organizations in the market are deciding to follow.
Aside from having a comprehensive and integrated HCM system, here are a couple of other driving factors that affect this industry’s digital transformation.
Cloud adoption
As organizations are becoming more digitally aware, they are also starting to move operations into the Cloud. Going digital means adopting an HR management system that can process all data through a digital platform with real-time operation. This functionality is even more possible with the help of the Cloud. Employees can have detailed information and work processes through the Cloud, which acts as backup data to enhance security and accessibility.
Cloud-based HR systems are one of the reasons for its increasing popularity and many organizations today are adopting a hybrid system that allows both Cloud and on-premise solutions. A software that can fit both these options creates greater flexibility to maintain your strategic planning.
Enhanced reporting
As organizations become bigger, they will need to manage greater data. An HR management software can help to contain this volume of data and provide organizations with greater ways to organise and analyse employee-related data.
Each process of your HR activity will be recorded inside of the system, ready for viewing purposes or if you need to go back to it anytime you like. Data reporting based on KPI’s (Key Performance Indicators) is one of the top drivers in adopting such software. This is due to the amount of data HR managers need to handle over the years especially in large organizations. Having it all contained within a unified digital platform makes reporting and data analysis so much easier.
As all these factors are driving the human capital market to expand and adopt a new way of workflow, we can only expect bigger and better things from HR software and how it can change and affect the whole industry.
No comments:
Post a Comment