HR Technology- Start Right To Succeed
Implementing HR Technologies in an organization can speed up the HR process simultaneously eliminating errors – S.R.Kamath Head of Sales, People Works quoted at the recent “The Great Indian Technology Festival Event”
There is a lot of buzz surrounding the term “HR Automation” “HR Technology” and “self-service” these days, but what all does it mean and how it impacts small-medium businesses???
To start with, we understand about “HR Technology” in brief…
HR, or human resource, automation is the process of transitioning your burdensome, time-consuming paper-based HR processes such as payroll processing and benefits administration to a streamlined, computer-based online system.
Majority of the human resources departments are in charge of managing employee benefits, performance appraisals, training, recruiting and retention. In many small businesses, the HR department is also responsible for payroll and compensation surveys. Coordinating all these different types of duties can be time and resource-consuming, so some companies take advantage of integrated HR technology solutions that combine different databases and streamline work processes.
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HR Technology is something that you cannot IGNORE…
You need to give your company every benefit from great marketing strategies to qualified, experienced employees. One of the best ways to boost productivity and profit is through implementing HR technology.
HR technology is any type of software or technological tool which is used to improve or streamline the functions of your human resources department.
Most businesses already use some form of payroll system, and that’s a great example of HR technology. But today’s HR technology solutions go far beyond just adding up hours and printing out pay stubs. If you want your company to stay relevant and profitable, you simply can’t ignore HR technology.
Witness The Benefits Of Implementing HR Technology in Your Company
- Efficiency in administration
- Reduced cost
- Data analysis and informed decisions
- Access to updated information
- Improved communications
Why Implmenting HR Technology In Your Company Make Sense….
Because your HR department is handling all the HR Processes manually which results into following:
Image source: andersoncsi.com
- The first reason you can’t ignore HR technology for your company is simply efficiency. HR technology can complete a variety of different HR related tasks in a fraction of the time it would take your best HR employees handle manually.
- While implementing HR technology might seem expensive, after you total up the extra wages you won’t have to pay your employees while they handle tasks that your HR technology is completing it will be well worth the investment. HR technology gets the jobs done quicker and in a much more organized fashion than when handled without it.
- The next reason that you need to consider HR technology is due to the increased productivity your HR department can put out with it. The boost of production will be immediate you’re your HR technology is in place. Instead of answering inquiries from other employees about vacation days or punching in payroll information, your HR workers can focus on creating winning strategies for hiring, training, and retaining employees.
- This is the main goal of any HR department, and HR technology allows them to focus on it. You’ll notice much more productivity thanks to HR technology, making it well worth the investment you put into it.
- Avoiding the hassles is another key feature that HR technology provides. No managing endless forms and paperwork, no risks of noncompliance, and no searching for misplaced information. HR technology streamlines your HR department and keeps everything working like clockwork. And, perhaps best of all, implementing HR technology can give you a more in-depth look at your business than you’ve ever had before. You’ll be able to check out data on everything from employee attendance to turnover rates, ROI to average cost of benefits, all thanks to HR technology.
- By delivering you with a huge array of HR metrics, your HR technology can help you understand where your business is losing money and where you should focus additional efforts.
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Business owners are increasingly embracing HR technology because it frees them and their staff to focus on their core competencies instead of spending valuable time on administrative paperwork hassles such as payroll processing and benefits administration.
Businesses are also finding other important benefits. One is that an online solution is perhaps more secure than the traditional, paper-based methods. Rather than having pieces of paper with confidential information on them floating around a department in a file folder, the online HR management system, or HRMS, provides an online, central repository where information is securely stored. Users can view only the information they are authorized to view, or their individual payroll and benefits information.
Savings on costs and added security are important, but one of the most important results that HR technology can have is its ability to cultivate productive, loyal employees. By empowering employees with self-service functions and putting appropriate levels of information directly in the hands of those who need it most, companies are able to foster better relationships with their workers.
Because of this, many companies are beginning to see increased returns on investment. According to the recent study employee-involvement practices boasted the following:
- 20 % higher return on investment
- 20 % higher return on assets
- 13 % higher return on equity
The last decade has seen many advances in the HR digital realm, and that trend will persist. The objective of HR is to align your deliverables with the organization’s business goals. In order to best serve your company you must continue to keep abreast of the latest tech trends and measure the needs of your company accordingly.
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Brief About People Works
The blog has been inspired by S.Kamath (Head of Sales), People Works…..
To address the expectations of modern workforce and help organizations quickly derive business benefits, PeopleWorks offers a robust, comprehensive, simple to use, quickly implementable, secure and integrated end-to-end Human Resource Management Software which manages the entire life-cycle of an employee (Hire to Retire). Its available on CLOUD model, which eliminates the one time or recurring investments, and offered at attractive monthly pay-per-use rates.
PeopleWorks footprint and presence in India has quickly grown in 6 major cities and penetrating in to other parts of the country through a strong Chanel Partner network. PeopleWorks clientele, now in almost 13+ Verticals, are deriving business benefits. PeopleWorks is now poised to not only increase further footprint in India but also start addressing International markets too.
Outsource Your HR Hassles Now….
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