HRMS Benefits-8 WAYS TO HELP YOUR BUSINESS GROW

Summary

There are a lot of benefits of an HRMS to both large organisations and smaller startups. These include an increase in productivity and growth rates, essentially saving you money and giving your HR employees the time to do more meaningful tasks.

So whether you’re trying to convince your directors for an upgrade or looking to install HRMS software in your business for the first time, here are our 8 reasons why you should do so.

When you’re preoccupied with monotonous HR tasks that take all day, there’s no time for HR managers to be putting the time and effort needed into creating an improved work environment.

This will also mean that your HR team won’t need to keep up with ever changing tax legislation within your region and will catch any potential tax errors that will cost your company.

The process of updating employee data will also be refined using HRMS, meaning the HR team won’t be needing to spend many hours a month amending bank details or changes of address.

Benefits

When thinking about the possibility of installing a HRMS (Human Resources Management System), you may be focusing on the costs and potential headache of switching providers. However the benefits are huge. HRMS software can aid both large organisations and smaller startups to increase productivity and growth rates, essentially saving you money and giving your HR employees the time to do more meaningful tasks.

So whether you’re trying to convince your directors for an upgrade or looking to install HRMS software in your business for the first time, here are our 8 reasons why you should do so.

1. Automation of repetitive HR tasks

When you’re preoccupied with monotonous HR tasks that take all day, there’s no time for HR managers to be putting the time and effort needed into creating an improved work environment. An HRMS system will take over all of those admin tasks for you, allowing you to refocus your efforts on the important stuff.

Using HRMS software can take control and automate all things payroll. Tracking payments, maintaining records, and calculating taxes will all be covered. This will also mean that your HR team won’t need to keep up with ever-changing tax legislation within your region and will catch any potential tax errors that will cost your company.

The process of updating employee data will also be refined using HRMS, meaning the HR team won’t be needing to spend many hours a month amending bank details or changes of address.

Just some of the benefits of automating repetitive tasks include:

• Freeing up employees time for high skilled tasks, such as education sessions.
• Boost productivity
• Focus on strategic HR, such as improving employer branding and company culture.

2. Improve communications with an employee portal

Much of your time as a HR manager is likely spent responding to payroll queries from employees, sending payslips or discussing holiday days. A HRMS system can do all of that for you with an employee self-service portal. Employees can access all of their pay, holiday, assessments and expenses in one place meaning you no longer need to be the middleman. This function of an HRMS system can ultimately save a lot of time and improve employee satisfaction. We’ve all been there – when you’re inundated with employee emails to get through, answering questions about holiday time or pay and there just isn’t enough time in the day to respond quickly. Lets eliminate that interaction and simplify it with automated systems.

3. Security and Compliance

Regulations and legislation are ever changing and if you don’t have the staff or time to keep up with these changes, you could be facing financial loss. HRMS keeps up to date with all changes and will automatically update them, taking the worry out of the equation.

In your HR department, you’re dealing with confidential information that your employees have entrusted you with. It’s your responsibility to ensure employee data is protected and there’s no chance for it to be misused. Avoid any costly security issues and rest easy knowing that your HRMS has your back with its built in security and encryption capabilities.

4. Keep your employees happy

Engaged employees are happy employees. Research shows that 71% of executives say that employee engagement is critical to a company’s success. If you want employees to stick around – engage them. It’s clear that when people feel part of a team, have purpose and their learning is encouraged, they’re guaranteed to perform better. Many HRMS systems offer user interfaces that can provide specific training courses, such as e-learning features that will allow employees to grow and develop.

Making the time and ensuring the resources are there for employee learning and development is a win-win. Your employees will be more engaged with the business and be more knowledgeable at the end of it – what’s not to love?

 5. Go Green and Paperless!

Today, businesses and individuals need to make an effort to reduce their carbon footprint and do what they can to be more eco-conscious.

Studies show that an office worker on average will use 10,000 sheets of paper annually. However, going paperless will not only help you run a more green business, it will also save you money and time. Here’s how HRMS can help you create a paper-free business:

• All payroll, timesheets, evaluations all stored safely by your HRMS system meaning everything’s in one place.
• When employing new staff, all signatures and contracts can be done efficiently by your HRMS system – no pens needed.
• All expenses can be accessed on your HRMS system and employee surveys can be deployed there too.

Here’s to saving more money and time with no more pieces of lost paper on your desk!

6. Boost your hiring process.

Currently the job market is a competitive marketplace, with many people looking for work and top talent becoming harder to find. For HR managers, the hiring process is complex with its many facets. HRMS software can help overhaul your current process by listing vacancies and creating online applications as well as managing candidates which involves a pre-screening and evaluation. The software can also aid HR managers in the follow up process when a candidate is chosen, with the creation of offer letters, uploading documents and an automatic data transfer.

7. Monitor Employee Performance and KPIs.

A KPI is a measurable value that shows how an employee is achieving their objectives.

A HRMS system can help HR and management create and manage not only KPIs, but also 360 questionnaires, self assessment and overall job goals. Having all this information in one place allows employees to focus more on their objectives rather than worry about finding where all of their assessments and targets are saved.

Furthermore, HRMS systems can track absenteeism and alert HR managers to employee attendance and whether or not there should be any need for concern. HRMS software can also monitor employee retention and how long an employee has been in the position and remind HR managers when it’s time to promote.

8. Eliminates Human Error

We’re all human and inevitably we’re bound to make a mistake from time to time. Unfortunately, human error costs businesses big time. A slight slip up from the HR team can lead to incorrect salaries or cyber security breaches, which undoubtedly is not something your business does not want happening.

Perhaps one of the biggest money saving aspects to switching to a HRMS system is the automation of processes that don’t allow room for mistakes.

Ok, I’m sold. What should I do now?

We guarantee that investing in the right HRMS system will save your company time and money. Not only that, you’ll see your hiring, security and communication processes improved astronomically. We recommend sitting down and thinking about what’s important for your company regarding HRMS features and what service would best suit your needs.