1) What is “HR Software?”
As the name suggests, “HR Software” is designed specifically to manage the tasks and operations of a company’s HR department. In today’s world of complex business operations, the scope and responsibilities of an HR department have increased rapidly.
From managing the hiring process, employee onboarding, payroll, leave, bonuses, attendance, insurance, evaluation, and off-boarding…the task list for modern HR teams is many! Under such a scenario, using HR software that digitizes all such tasks under independent work modules that also talk to each other whenever required helps companies stay on top of their HR workstreams.
This blog will focus on the top 10 features of HR software.
2) What are the top 10 features of HR software?
i) Cloud vs. On-site: We live in the era of cloud computing, and, in keeping with such modernization, the best HR software is cloud-based.
The system is hosted on a secure cloud server by the vendor and provides graded access to the employees based on their requirements and security clearance. It can be accessed via a desktop/laptop or a mobile app.
Although the on-site model is also available, the cloud is the preferred option for reasons such as ease of service, feature upgrades, data management (etc.)
ii) Recruitment: As mentioned in earlier blogs on this topic, unless a company has a steady and efficient system of employee recruitment, it will fail to attract and recruit the best possible talent out there. And, without the workforce quality required, organizations will find it difficult to stay competitive, especially in today’s highly competitive markets.
~~~ Employees are the backbone of an organization. Therefore, your focus must be to establish an excellent recruitment system by using modern HR software to select the best candidates. The Recruitment Module in HR software is one of its most important features ~~~
An efficient recruitment module and ATS (applicant-tracking-system) will enable organizations to manage the recruitment process with the best results. In turn, this becomes a “selling point” of the organization i.e. it will attract talented candidates due to the quality of its recruitment process.
iii) Attendance management module: Daily attendance (recording, monitoring, etc.) is another huge benefit of HR software that goes toward streamlining employee management.
A fundamental feature of HR software, such as automated attendance monitoring helps HR teams to track attendance reports as well as feed them into other related calculations e.g. payroll.
Today’s workplaces are not the one-size-fits-all of the past. Employees work different hours, days, and time zones, and have various overtime and bonus agreements. Additionally, the work-from-home or hybrid models of today – spurred to adoption by the recent pandemic – add to the complexities of attendance management. However, through the use of modern technology (e.g. biometrics), accurate calculations and reports are generated by the software.
iv) Payroll processing: Among the most time-consuming and laborious tasks of an HR department is payroll processing! On-time salary payouts, overtime, allowances, deductions, bonuses, rewards (etc.) are just some calculations that modern HR software can calculate. It can easily manage large-scale payroll operations, while still incorporating all individual details for individual employees.
~~~ The Attendance Module with the software uses various modern tech tools, including barcode scanning, manual identification, kiosks, and biometrics (face or fingerprint recognition) ~~~
Payroll features of automated HR software help companies to minimize data entry, as well as reduce errors. As a result, the work hours of HR teams are freed up to work on other more value-creating tasks.
v) Dashboards & reporting: Modern automated systems collect and analyze vast amounts of data. As a result, there is a rich report suite and tons of insight that HR teams – as well as business managers – can use for better decision-making.
The dashboard feature is a star feature of HR management software. It presents various views of data and information in convenient forms (e.g. tables, graphs, charts), all concisely contained within dashboards that are not only visually attractive but also easy to use. Importantly, you can customize your requirements based on your business needs and level of detail. It also enables convenient data-sharing across the organization.
vi) API integration: Perhaps, the main benefit of such automated software is its ability to seamlessly record (and, share) data across multiple departments, sources, and functions.
API-led integration eliminates data duplication or redundancy, supports a high level of interaction, and real-time data (knowledge) exchange, and ensures business continuity.
vii) Data confidentiality: While data digitization and the adoption of online processes are the way of the modern world, it also presents the challenge of maintaining data security.
Corporate information, organizational data, and employee information (financial, personal) are examples of confidential data that must be stored securely. Using encryption codes and providing only authorized access are just some ways in which HR software maintains such safety protocol.
viii) Robust analytics suite: As is the case with other cloud-based software, so even the HR software of today is equipped with robust data analytics.
Executing the entire HR function via the software results in a large amount of data being captured, and, available for analysis. With AI-led features, such modern HR systems can mine the data to uncover insights such as goal vs. deliverables, employee training needs, gaps, best practices, results (etc.)
ix) Learning and development: Building on the point above, the platform is a convenient tool that not only analyzes learning needs but can also conduct online courses. This maintains a constant corporate environment of re-skilling and learning, which is most important to keep your workforce skills updated and competitive, even as times change rapidly.
x) Performance management: Well, after all has been said and done, it is the employee that makes, or breaks, an organization. Employees are the critical backbone of an organization – therefore, it is imperative that HR organizes and maintains a streamlined employee management system that not only tracks their performances but also helps them understand where they are doing well, or where they need to do better.
This is always a challenge, even quite tricky, because care must be taken for any such evaluation to be fair, and agreeable to all stakeholders concerned.
Conclusion: Modern organizations are large and complex units with several moving parts. Additionally, rapid changes in the competitive environment make it even more complex. Therefore, you need the best possible workforce to meet such challenges, and, using modern, cloud based HR software to recruit and manage your employees is the first step toward achieving this.
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