2019 November 25 Archive - EXEIdeas

The rapidly evolving scenario in the 21st century has its effects on the businesses with increasing importance to the employee-centric organization structures. Gone are the days when hire and fire method was the realm because of changed socio-economic factors. It has become evident that you need to run a dedicated HR department to look after the most valuable asset of your business- the human resources. However, not all companies can afford a corporate level HR department dedicated to looking after other employees, which paved the way for HR Software solutions.Why HR Software Is Necessary In Contemporary Times: The Corporates With Dedicated Staff To Use Them!The nature of work has changed in recent decades, which in turn has altered the job profiles in each sector. The old school management tactics don’t reap the same results any-more, which has made it evident that dedicated employees won’t be sufficient if they aren’t assisted by technological advancements to cope up with the scale and disruption in the workforce. By 2020, an estimated 44% of employees will leave their organizations, which is alarming for smaller businesses. Most of the conglomerates use HR Software solutions to improve the quality of execution for all aspects of human resource management at optimal cost levels. Read the article to learn the benefits of HR Software:Harness Automation For Capturing Data Efficiently:The HR Software solutions are a cluster of interwoven modules that source information of different types to serve the functional, operational, and strategic decision-making purposes. They will capture the attendance, travel and claim, employee performance, compensation, compliance, and training data by using respective modules without the need of any human mediator. The software shall act as a single source of rich data by extracting the required process parameters and computing the variables to generate comprehensive business intelligence on a cost-effective basis.Align Business Objectives With Policy Building:To run a successful company, it is imperative to align all the business processes and the employees in a common direction. The HR Software will lay the foundation of various policies that help the organizations in streamlining multiple operational aspects. For instance, the leave and attendance policy are kept in-line while all official correspondence is done through the Employee Self Service (ESS) Portal to reduce the internal friction through digitalization. The company also receives reliable information which is coherent to the entire landscape for making well-informed decisions regarding employee management and infrastructure development.Use Cloud Technology For Connecting Employees And Processes :As an employer, having accessibility to the business processes and the concerned employees is an enormous opportunity. As an example, recruitment can be made active by using the Talent Acquisition Module to integrate with online job portals and social media. The Self-onboarding Module enables new joiners to read company literature, file forms, and upload proofing by themselves. A Performance Management System acts as a mediator between staff and management to measure the work output of each employee for improving their productivity along with professional development. Attendance is benefited by geo-tracking and biometric device integration at all locations.Integrate Optimization With Organizational Functioning:The corporate governance demands optimization of the functioning of each employee from an organizational point of view. This includes that the processes run as per the guidelines laid down on mutual agreements. For instance, payroll processing is a significant concern for both employees and employers because of the involvement of finances. The HR Software uses the information acquired from all its modules to generate the salary of the employees, along with managing the compliances. Usually, outsourcing payroll is ordinary, but software solutions can help businesses become self-reliant by optimizing all processes under a common platform.The Conclusion In A Nutshell:Traditionally, the companies in the Indian subcontinent assign the HR processes to a cross-functional manager or employ only one dedicated HR executive to look after the entire employee related operations. The HR Software will help in running all core functions in a smooth manner without engaging the services of dedicated employees as most of the time they spend is absorbed by the documentation and administrative aspects of human resources management. The HR Software solutions will empower companies to run corporate-level HR policies and implement them at low operating costs without engaging a large pool of executives.About the Author:Shy Lee is an Associate Digital Marketing Manager at factoHR, an India based HR, and payroll software solution provider. She is a creative marketing strategist with over 8 years of experience developing digital marketing strategies and guiding business development.Find Me On Twitter | LinkedIn