HR is a people’s profession. It is people, better to say, employees who drive businesses.
Hence, keeping them motivated and managing them wisely is crucial. Thanks to technological breakthroughs such as HRMS software involving artificial intelligence and automation, HR processes have become less challenging.
As your business grows, various issues start surfacing that includes scaling, managing processes and data, workforce optimization, and more. With the increasing number of employees, managing human resources also becomes complicated, from screening, hiring, training, and payroll management, to regulatory compliance. Besides, your sensitive information remains scattered in many locations and folders.
Consequently, it causes HR burnouts while dropping down the overall efficiency.
But with neck-to-neck competition around, where time is money, you cannot afford inefficiencies, especially during the growth stage.
So, if your HR process still maneuvers spreadsheets and paperwork stashing in your filing cabinet, you are missing something!
What’s the solution?
HR Management Software or HRMS!
What is HRMS?
Simply put, HRMS is a software that leverages the power of technology to administer HR processes. It aims to enhance the efficiency and productivity of your business by automating manual and recurring tasks. As a result, your HR team can manage the processes well and find more time to utilize in other important activities for business growth.
The software covers different aspects of human resource management, including:
- Manpower planning
- Job confirmation process after probation period
- Employee information management
- Transaction and leave policy management
- Tracking attendance and time
- Payroll processing
- Salary change calculations
- Resignation process
- Communication and Managing rules and regulation
- Employee engagement
- Statutory compliance
- MIS reports
- Training and development
- Performance appraisal
- Succession planning
Why Businesses Need HRMS?
The pen and paper mode might help during initial phases but not healthy for your business while growing. For SMBs, using a decent HRMS is important as it can accelerate the growth process by automating complicated tasks while eliminating possible errors because even the minor errors can be fatal to your productivity.
HRMS laced with emerging technologies like data analytics and automation benefits not only to the employers but also to the employees and customers as the right information can reach the right place and at the right time.
A report says that the global market for HR software is projected to be a whopping $30 billion by 2030. It also forecasts 9.4% in its growth from 2017-2025.
Let’s check out some of its benefits to modern businesses.
Efficient employee management
Your HR team can monitor attendance and work hours of employees so ensure maximum productivity and compensation for overtime. You can also manage training, payroll, performance, and better engagement of employees so they can feel attached to your organization.
HRMS can precisely automate the overall process of monitoring Key Performance Indicator (KPI) to show the efficiency of employees in achieving their set objectives. For this, it can monitor duration an employee stays in a role, absenteeism, time is taken to reach the goals, etc.
Promotes employee self-service
One of the finest features of HRMS is its employee self-service, where they can access their profiles and portal. It incorporates detailed information about the company terms and conditions, leaves policy, payroll, resignation process, etc. so they do not have to ask all the questions to the HR department. Thus, it saves time for both parties.
For seeking leaves, employees no longer need to write an application. They can apply it through the system itself and also check their remaining leave balance, holiday list, upcoming events, and more features.
Eliminates human errors
Automation eliminates human errors that might cost business in terms of regulatory compliance, cost, and time. It reduces the possibility of mistakes and duplicate entries to ensure faultless task execution.
Data security and privacy
Compliance with federal and state laws is crucial for the well-being of your company. If not handled well, it can pose serious threats to your business in terms of reputation and penalties. HRMS updates all the statutory changes regularly to ensure compliance.
Why Cloud-based or SaaS HRMS Software?
Instead of using traditional on-premises software where you have to purchase all of it, you can go for Software-as-a-service (SaaS) software hosted on the cloud. It is subscription-based, meaning you do not need to pay for the entire software. The service provider gives you the authority to use it for a while, depending upon the plan.
Ring a bell?
Yeah, like Netflix!
Unlike on-premises software, SaaS model requires no installation, no configuration. Everything is ready beforehand, and you can start using it in an hour or two. Hence, you can save costs and time along with no worries about the maintenance.
Residing in a cloud environment, SaaS software gives you better scalability as you can choose the software based on your organizational capacity.
So, if you want to incorporate an HRMS in your organization, consider adopting a SaaS software. And to help you with it, here are some of the best software available for you to explore.
Connect one step closer with employees using Freshteam to manage all the HR processes intelligently and make impactful decisions. With its application tracking system, you can source candidates, schedule interviews, and hire the right candidates. Source them from job portals, career sites, employee referrals, vendors, social media sites, and more.
Create interview scorecards, add hiring teams, workflow stages, and custom application forms for each job. You can also keep all the information about the candidates, including emails, resumes, scores, interaction history, feedback, etc. in a single place with Candidate 360. While scheduling interviews, you can invite your panel members and leave feedback. The software also lets you manage job offers and configure its fields, record decisions, and prepare offer letters.
With Freshteam, you can conduct smooth onboarding by initiating the process beforehand to complete documentation and form filling. It saves the first day of joiners so they can understand their peers and the organization. After getting the document signed, you can upload them in their profile, create tasks for them, track their activities, and send reminders to complete the onboarding process.
Drag and drop form fields to create employee information, maintain organization charts to showcase all the entities in the corporate structure with their names, departments, and positions. Create and exercise time-off policies for a calendar year, map them easily to specific teams, locations, shifts, or departments throughout the organization. You can also track leaves, generate time-off reports, and spot absenteeism and leave trends.
With its mobile app available on iOS and Android, you can conduct hassle-free recruitment by sending emails, submit feedback, and make decisions. Apply for leaves or approve/reject someone else’s request with just a tap, and access employee records from anywhere.
Conquer all your HR challenges and make smart decisions with Sage HRMS to enhance the effectiveness of your organization. It provides a dynamic solution to manage the complete life-cycle of your employees from hire to retire. The software is scalable to keep supporting you with your growing needs.
Hire talented people, retain the best ones, and identify internal employees easily for leadership positions. It also helps you minimize employee turnover by increasing engagement. Enhance time management for every employee and cover leaves and attendance apart from managing payroll, performance reviews, benefits, self-service, and so on.
Eliminate costly errors in enrollments and data entry while avoiding painful paperwork associated with benefits. Its risk analytics lets you gauge employees based on their information, statistics, skills, performance, insurance, demographics, and more.
It provides comprehensive classes by instructors and on-demand learning to use the software in the best possible way through Sage University. The Sage Knowledgebase, Sage City, and Sage Resources are there to extend their support 24/7 and help you resolve your queries and offer the latest updates in the software as soon as it releases.
Return the favor to your hard-working team by supporting them with a comprehensive HRMS, Gusto. All the processes from hiring, onboarding, and payment, to performance and promotion; everything is flawless using the software.
Create professional offer letters, onboard new joiners avoiding paperwork, and let them fill their profile. You can store all the documents digitally on the software to remain organized. The days of painful and risky payroll processes are over; use the simplified payroll of the software and file taxes easily.
It automatically syncs all the data associated with time tracking, benefit plans, new hires, and more. Keep your employees happy, healthy, and insured using the same software which can feed your plans in the payroll. Give your team resources and tools with Gusto to secure their financial future through Gusto Cashout, commuter benefits, workers’ compensation, and 401(k) retirement and 529 college savings.
In addition, it offers other tools like Small Business Financial Relief, Burn rate calculator, Employer tax calculator, salary comparison tool, and new hire checklist. The software is compliant with HIPAA, ACA, and ERISA. It can manage COBRA requirements and email employees to complete the paperwork after leaving your organization.
It does not matter if your organization is small scale, medium, or large, Cezanne HR has got your back to streamline every aspect of your HR efforts. This cloud-based modern HR suite lets you manage and support your workforce efficiently by leveraging high-end technologies, automation tools, and impressive features.
Helping businesses in 100+ countries, Cezanne HR offers translation in 10 different languages with no extra fees. It also supports recording financial data in your local currency and facilitates multiple offices worldwide with your own approval flows, cost centers, HR portals, and admin permissions. The system offers optimum flexibility to execute different tasks, from adding employees to removal, and everything in between.
It offers a 24/7 online portal packed with expert articles, how-to guides, set-up advice, training, consulting, smart notifications, in-built reporting, configurable forms, efficient workflow management, and implementation services. Engage with your workforce well using its mobile app along with online tools to boost collaboration and effective communication.
Waste no time on maintenance because Cezanne takes care of it apart from periodic updates. All your data is safe with its advanced security and data protection through encryption, passwords, and GDPR compliance. Besides, its open architecture helps you improve your productivity and enables third-party app connectivity with ease.
Are you tired of wasting time on monotonous tasks?
Use People HR to automate these processes and focus on areas demanding more attention. Now forget tracking sickness, updating employee data, approving holiday leaves, compiling turnover insights, and so on. Using its applicant tracking system, you can hire and retain talents fitting your organization culture. Share job vacancies across different job portals as well as identify and connect with people who can help grow your business.
Present HR information with comprehensive graphical reports to business leaders and seek recommendations and action plans. Learn from other HR professionals through the HRMS and enhance your decision making. You can also compare your HR insights against other companies within your industry to determine the areas that need improvements.
Connect with your employees better and help them optimize their potential with its dynamic Performance Management System. Find your top performers, and those who need some help improve their performance. People HR lets you smoothly migrate your data into the new system and provide expert training to utilize the software to its fullest.
Even without good technical knowledge, you can use this software due to its simplicity and user-friendliness.
Managing HR processes is not a headache anymore if you have Zenefits that benefit your business in a plethora of ways. With a mere click, you can send offer letters with all the essential details along with a link for online offer acceptance. For this, it provides exquisite templates for offer letters or an option to upload a separate one.
Its partner Checkr carries out comprehensive and fast background checks from the software. It allows new joiners to self-onboard themselves using Zenefits mobile app or website and save hassles on the first day. The software digitally creates tax documents for joiners based on the available information.
It encourages you to go paperless by offering the digital signature feature. Through smooth integration with Slack, Salesforce, G Suite, etc., new employees can log in their accounts automatically. It offers dynamic organization charts and employee directory with necessary details to improve cross-functional communication.
Automate employee events such as promotions, team/department transfers, terminations, resignation, and more. The software proactively syncs data and any changes performed in real-time so it can reflect everywhere. It not only supports your employees but also another workforce, including freelancers, independent contractors, and consultants. Stay compliant with government regulations by automating tasks.
Create and administer your PTO policy, leave requests, set blackout dates, and use its automatic PTO Balance Calculator to save time. It supports business intelligence by reporting compensation summaries, headcount activities, statistics for equal opportunities, turnover rates, and granted stock options.
Your employees are the assets of your company and matter the most. Manage them with care using BambooHR, which is all-in-one software to collect, organize, and analyze employee data. Enhance the overall process of recruitment and onboarding, manage compensation smartly, and develop a sustainable company culture.
BambooHR lets you store all the information in a single, secure database powered by dynamic editing and reporting tools for faster workflows. Controls it using a website or mobile app that you can access anytime, anywhere.
Personalize your formalities and paperwork to ease the onboarding process for a less stressful first day. It features e-signatures so you can manage records digitally and prevent paper piling up on your desk. Tracking time, PTO, benefits, running payroll, etc. are delightful with BambooHR.
It lets you gain deeper insights on performance management, employee satisfaction, and other important statistics to shape your next plan of action. At present, it has over 1.56 million active users worldwide and also offers seven days free trial to get hands-on experience on the software.
HR processes are one of the most critical aspects of modern businesses, be it recruitment, payroll, performance, or promotion. It requires a great level of accuracy, and even a slight mistake can prove expensive. But worry no more; incorporate a cloud-based HRMS in your organization to automate all the tasks with zero error.