HR management software can help pick up the slack when it comes to the daily tasks of HR departments like time tracking, payroll, performance and benefits management, and more.
HR software makes these tasks easier and more efficient, allowing departments to save time and money. This short-term benefit is more than enough to warrant investing in HR software but there are long-term benefits as well.
Three Long-term Benefits of HR Management Software
HR Software Can Simplify Employee Data Storage
Many companies track employee date manually in multiple systems. Your HR management software could become the main resource for employee-related data, making dual-entry a thing of the past. By implementing HR software, like an Applicant Tracking System (ATS) or performance management, your system becomes the cornerstone for process efficiencies and enhancements.
HR Management Software Provides Strategic Insight into Your Workforce
One of the benefits of HR software is that you can get answers to many questions, such as who should be promoted from within, or put on track for promotion, and what skills or training do those employees have. HR management software like succession planning or learning management can make it easy to create a profile of top-performing employees, and guide them toward continued success.
HR Management Software can Save Time and Money
HR management software helps companies become more agile by allowing them to adapt quickly to market changes, respond rapidly to customer demands, be flexible and be able to adapt and lead change in a productive and cost-effective way. In basic terms, HR software saves both time and money.
According to Lighthouse Research & Advisory, 97% of companies say HR technology plays a key role in enabling their agility. Case in point, a Denver-based construction company saved 40 hours per week after implementing an ATS and onboarding software. The software allowed them to adapt their hiring strategies by automating their application process, a change potential candidates were demanding.
Seven Key Types of HR Management Software
A recruitment module should provide a centralized and streamlined process for creating job requisitions, customization of job-specific questions and an out-of-the-box recruiting portal.
An Applicant Tracking System can publish job postings to leading national and niche boards and social media sites with just a couple of clicks. A modular ATS is designed to automate compliance by helping you follow federal hiring regulations.
This key module eases new employees into your organization and helps your organization make a good first impression. Many of the new employee onboarding steps can be automated to minimize paperwork and save time, such as user accounts, badge access, training and more. An onboarding module allows new hires to complete their onboarding paperwork on-site or before day one on the job.
Performance management software supports organizations by recording their job descriptions, employee training and annual reviews in one convenient location. This software automates the performance review process, tracks personal goals and company KPIs. It also manages completion of training and certification programs. Performance management also offers robust reporting for compliance, real-time monitoring and 360-degree feedback.
Benefits Management gives administrators the ability to oversee benefits and apply deductions to employee records. Employees can also input elections. It also offers additional compliance aids, like the Affordable Care Act Compliance module, which simplifies eligibility and reporting.
Time & Attendance
Attendance tracking, manager approval access and time clock management are the most common features of a time and attendance module. An app or time clock will electronically route the data to your payroll provider. Accurate reporting helps simplify reporting and control fraud and associated costs.
A learning management module enables HR to provide and track training completions and certifications for compliance. Required training, like sexual harassment, can be assigned and accessed through the employee portal, 24/7. A learning management system gives companies the ability to upload customizable learning plans but also provides online content. Courses on diversity and inclusion, OSHA regulations, safety, leadership, ethics and more help maintain training compliance.
HR Management software is a Game Changer
Automating HR processes provides immediate benefits for administrators and employees in the present, while promising continued efficiencies into the future.