Tag Archives: Businesses

5 Must Have HR Technologies For Small And Medium Sized Businesses

With times changing quickly, technology has become essential for survival. This is true for every part of life, including business. Usually in business HR departments used to be the least tech savvy ones. That approach, however, is changing quickly because nowadays not only impressive technologies are available for HR professionals but they’re also being adopted quickly. They’re no more something meant for large enterprises only, and even if you’re a small or medium-sized business there’re 5 HR technologies that you must have:

  1. Records Management: Laws regulating the HR departments of companies vary significantly even within same countries The requirements of one state may be different than those of other states. Laws related to taxation, labor, employee benefits and a whole lot of employee information on top of that may be tedious to manage for anyone. Fortunately, technology can come to rescue as records management software solutions are available for HR professionals.
  2. Employee Benefits Management: Today labor laws and market forces both require companies to provide a wide range of benefits to their employees like healthcare, a good retirement plan, minimum wages and so on. Besides these legal and market requirements you may also want to provide some more benefits as needed to improve performance. This brings the question of managing data related to employee benefits. The good news is that software based or online solutions are available for this requirement as well.
  3. Performance Management: In order to distribute performance based benefits you need to measure the performance first. Without maintaining data related to performance of individual employees such benefits can’t be distributed fairly. Performance management software can help you maintain that data in an easy and organized manner.
  4. Attendance and Timesheet Management: As your company grows, attendance alone can become a major task in itself. Plus, being a small or mid-sized business if you utilize the services of freelancers then you’ll have to manage timesheets as well.So you should consider attendance and timesheet management solutions too.
  5. Recruitment Automation Software: Finally, if your company is growing at a fast rate and spreadsheets are becoming too exhaustive then you should also have some recruitment automation software as well.

These technologies can make the lives of your HR professionals quite easy, which can help them achieve more for your business. Try your best to implement them as soon as possible.

Here’s why HRMS is important for growing businesses

HRIS implementation can result in significant savings in money and time for your company. Primarily, it will help you get rid of all calculation errors, payroll data entry errors, and addressing fair pay rules for all employees. HRIS or HRMS systems provide organizations with a high tech online service centers to manage all kinds of human resource activities. HRMS systems will also be a significant part of your PEO benefits.

Globally, online HRMS systems have been helping several top end businesses with compensation management, benefits administration, company report writing, information analysis, and other HR processes. Though the type of system varies between companies, one of the common and most important features is automation technology. Automation makes HR responsibilities punctual, simpler, and fast. An average HRMS system is programmed to provide the following services:

  • Payroll administration / monetary allocation system
  • Accounting management and conclusions
  • In depth reporting
  • Electronic maintenance of books of account
  • Master employee information database
  • Integration of benefits programs, payroll updates, direct deposits, PTO status and others
  • Security, encryption, password protection and top end firewall

How does an HRMS system help and organization grow?

Regardless of how big or small a business is and what industries it belongs to, HRMS systems come with several advantages.

  1. Access employee database anytime and anywhereHRMS databases hosted in online cloud servers allow managers to access the information from anywhere and at any time of the hour. Highly encrypted, these servers will allow easy but secure access. Thus strategizing HR functions can now be done from anywhere.
  2. Simplifying HR tasksWith employee information being managed electronically, the HRs desks will be cleaner and more organized. Switching from paper files to digital entries also streamlines the whole HR process.
  3. AutomationAutomation in HRMs systems can mean a lot of things. Most importantly, however, automation lets organizations enable customized programs and access specifications. This further facilitates regularized updates allowing managers to feel more confident of their internal policies and HR strategies.
  4. Reporting and data analysisHRMS Software systems make it a whole lot easier when it comes to analyzing and making reports on employee information and feedbacks.
  5. Reduce fraud

    With the ‘human hand’ playing a minimum role in information feed and reporting, there would be fewer chances of doctoring and fraud. Things like attendance would be regularized and highly accurate.

How can HRMS add Value to your Business?

There are some processes in every organization that are repeatable. Performing these tasks and processes time and again can prove to be quite cumbersome and can be a wastage of time. There will be times when these tasks will be unaccounted for or even untracked. Most of the times, these tasks are executed by one department specifically or even by one person in the department. When performed repeatedly, there are chances of errors caused by human error or there may be a few cases of inconsistencies. These errors and inconsistencies may put the organization at risk and may, directly or indirectly, affect the business. Making web based HRMS software a part of your organization may help you prevent this. Let us see how.

HRMS is used for streamlining processes that are managed by the Human Resources (HR) department. One of the crucial tasks that this department overlooks is the hiring and induction of new talent. Usually, a sequential process is followed when a new employee is hired. Some of the tasks maybe in the following sequence:

–          The employee is given a brief introduction

–          All the required forms are given to the new employee to be filled

–          Assign the work location

–          Introduce the employee to their senior or reporting manager

–          Order his or her business cards

–          Start assigning work

Every time a new employee is hired, these tasks have to be executed. If the hiring process is quite frequent, depending on the growth and requirement of the company, then there has to be a dedicated staff to ensure these processes are carried out efficiently. However, it may be easier if a web based HRMS software is implemented. There are various features and functionalities in HRMS that will assist the HR team in performing these tasks. For example, the workflow management helps in performing the above mentioned tasks in an efficient manner and minimizes errors. It ensures that the required sequences of various tasks are followed correctly. Moreover, the tasks can be automated and can be triggered by the occurrence of different events. Thus scheduling can be done, saving a lot of time, resources and energy. Like workflow management, there are other functionalities that focus on payroll, inventory to name a few. All these add great value to any organization.

Some of the advantages of having web based HRMS software are:

  • Increased efficiency of the overall
  • Ability to standardize different working methodologies
  • Streamlining tasks
  • Tracking employee performance

These are some of the benefits that can change the way an organization operates and performs. The roles and responsibilities are defined clearly through HRMS. All these benefits and functionalities of HRMS add value to your business. HRMS is not restricted to any specific industry or its size.