The world of HR tech is massive. There are so many different types of HR technology, it can be overwhelming to decide which systems your business could benefit from. And, to make it even more confusing, many times just acronyms are used – OMG, SMH. Never fear, as an HR technology leader, we’ve broken down the most common HR tech acronyms below.
Human Resources Management System (HRMS)
Human Resources Management System or HRMS is very likely the one HR tech acronym you already know – but do you really? HRMS actually describes a lot of different things from an Excel spreadsheet to a fully-integrated HR software system. A modern HRMS can potentially oversee and pull together every kind of HR-related software application. According to WorkplaceTesting.com, an HRMS is an information technology system that combines hardware and software to assist your HR staff in managing and processing employee data. Many times the acronym HRMS is used interchangeably with HRIS – which of course is different.
Human Resources Information System (HRIS)
A human resource information system (HRIS) is a little more defined than an HRMS (which we noted above could be a simple spreadsheet). An HRIS is HR tech term used to collect, process, store and manage employee data and forms, payroll and benefits, timekeeping and other relevant information in a central location, according to Indeed. The goal of implementing an HRIS is to cut down on the amount of time spent on manual tasks (like sorting paper resumes and tracking time with paper time cards) so you can focus on “big picture” items like developing and executing targeted recruiting strategies. Arcoro offers several HRIS modular solutions that work together to manage:
- Employee data (like resumes, tax information and personal information)
- Onboarding (managers are notified where employees are at with training)
- Benefits (automated open enrollment)
- Time tracking (employees clock in and out on a time clock app and sign off on time cards)
- Performance (managers and employees can set and track work goals)
- Development (multiple training options uploaded and accessible 24/7)
Applicant Tracking System (ATS)
An Applicant Tracking System helps automate the recruiting and hiring process. It automates applicant tracking, resume ranking, pre-screening, background checks and drug screening, and saves recruiters a ton of time. But beyond offering the ability to source and hire quality candidates, an ATS stores all of your employee information. To begin with, candidates upload their resumes and the ATS uses the information to autofill applications. If a particular candidate isn’t a fit for a current position, the ATS keeps the information so you can access it for future use, giving you a pool of available talent.
Learning Management System (LMS)
An LMS is a software application or web-based HR technology used for documenting, tracking, reporting and the delivery of electronic learning education courses or training. An LMS is used to plan, implement and assess the learning and development process. LMS gives a company a manageable and trackable way to deliver content, assess performance and monitor participation in training. Custom content can be uploaded and employees can access it whenever it fits into their schedules, be it during work hours or on the weekend.
Human Capital Analytics (HCA)
According to SHRM, Human Capital Analytics is HR tech that applies the analytic process to the HR department of an organization to improve employee performance and thereby get a better ROI. To further explain, HCA uses data from an ATS, like how much it cost to hire an employee, and from an LMS, how much it cost to train an employee, to see how much it cost your company for the employee to perform at his or her best at their position. This type of data is essential for linking metrics and discovering how your talent management connects to business operations – which helps companies make the most informed decisions.
Enterprise Resource Planning (ERP)
Enterprise Resource Planning is a business process management software that manages and integrates a company’s financials, supply chain, operations, commerce, reporting, manufacturing and . human resource activities. . ERP for HR helps automate administrative tasks and speed up internal processes to save team members a great deal of time and effort. You can use this tool for management, payroll, recruitment, evaluations and job offers.
HR technology doesn’t have to be a mystery. A good software partner will guide your company to the solutions that will work best for your current and future needs.