A great company doesn’t become great in a day or two. It takes months and sometimes a year for a company to touch the sky. A successful business is no less than a well-oiled machine. All of its parts need to work in correlation to keep it moving, similarly, all the departments of an enterprise should work with a defined pace for gaining profits.
However, one of the departments that is under pressure most of the time is HR department. Maintaining reports on paper requires a lot of time, filling of forms requires two or many a time three copies and changing minute details can get tougher than counting the total number of stars in the sky.
However, the advent of HR Software has eliminated all the hassles and provides significant advantages to both employees and employers. HR software helps reduce costs, improve efficiencies and streamline administrative processes. You will now be able to manage HR processes like training, recruiting and maintaining the workforce with a greater ease.
3 Ways in which HR software can help your business:
1. HR software helps you with better Payroll Management
You pay your employees in exchange for the service they provide for you to prosper. Processing payrolls can consume a lot of time. According to a study by National Business Association Survey, using older technologies for payroll processing can consume 80 hours or more of additional time.
Tracking when employees are at work, especially tracking employee working hours is key to payroll processing. Sometimes they work for extra hours and sometime they may leave early. It is necessary to make sure they are paid the right amount accordingly. Many software come with a clock out and clock in feature which can be used to calculate employee wages.
An performance management software can also do all the payroll tax calculation for you. It will take care of the taxes that need to be deducted from the employee wages, and all the taxes that the company is responsible for.
2. Helps you keep an eye on your employees with Time and Attendance Management
With the help of biometric information, you can keep a track on how regular an employee is in terms of timings, attendance etc. This data can also be stored and used for future reference.
Some of the benefits this module provides are:
- It can be easily integrated with various kinds of attendance readers like biometric readers
- Shift management becomes easy with flexible scheduling for employees
- Facilities for holidays and half-day leave
- Tracks overtime working hours for employees
To summarize, this feature of HR management software will help you with labor expenses, self-service feature for an employee to clock in and clock out, time-off requests etc. All these data tracked is then synchronized with payroll management to ensure accurate paychecks.
3. Recruitment and Application Tracking can be much easier.
This feature consists of all the information about the current recruiting process like the number of vacancies, job descriptions, skill requirement etc. The employees suitable for the position can submit their application and resumes online with the help of Applicant Tracking software which keeps the process much more organized. Rules can be set in a way that only qualified employee/s can apply, which can save manager’s time in screening those applications.
It can also help track the exact amount that has been spent on recruitment and its related activities so that budgets can be planned with more accuracy.