Most name HR tools out there are also prohibitively high. Purchasing something all-inclusive like a total Human Resource Management software is as practical and helpful as offering your employees high-end gaming laptops. Your defined IT staff has an adequate backlog as it is. Designing a tool for the HR department is actually not a choice but is mandatory with the evolving technological landscape.
However, in your collector hunt to find the right HR Management Software, it is simple to get lost in the puddle of the right products. To completely avoid the death-trap of well-weaved words that invite you to choose the wrong HR software, you need to identify the variations in their functionalities and get an in-depth knowledge of the blanket term Human Resource Management Systems (HRMS).
What is a Human Resource Management System? (HRMS)
Human Resource Management System (HRMS) leads to an arrangement of software including Human Capital Management software (HCM) and Human Resource Information System (HRIS) that support HR staff, takes care of companies most valuable assets, people. HR tasks are too hard and time-consuming when done manually. Leveraging the support of a technological solution like an HRMS can save your time, cut costs, and also manage your staff in a better manner.
Depending on the needs, you could opt for a particular HR Management Software with points that takes care of day-to-day tasks for HRs like Employee Management, Leave Management, etc. Or you could adopt a clarification that addresses the critical areas of human resource management like Training & Development, Talent Management, and applicant tracking.
Benefits of the Human Resource Management System
Human Resource Management Software will automate repeated and time-consuming HR tasks to make them more productive and reduce their time-intensive nature. A company needs an HRMS to:
- Ease process bottlenecks
- Reduce manual paperwork
- Reduce employee stress
- Reduce time lag in tasks
- Lower operational costs
- Directly implement process/policy change
- Eliminate spreadsheet dependency
- Develop internal communication.
Components of the Human Resource Management System
The primary purpose of an HR Management System is to regulate and consolidate the core methods related to Human Resource Management. An HRMS comprises separate HR modules to take care of particular HR and admin tasks leaving HR staff free to focus on building a better workplace. These are the major functionalities of an ideal Human Resource Management Software-
1. Application Management
A holistic method to understand and control candidates across job boards, recruitment portals, and websites through all phases (find, shortlist, interview and hire) seamlessly in a selective interface to cooperate with recruiters and streamline the hiring process.
Darwinbox Applicant tracking system has many key features that can automate your recruitment processes such as Candidate Sourcing, CV Parsing and Screening, Applicant Tracking System, Configurable hiring workflows, referrals, and internal job posting.
2. Employee Management
Store and retrieve all up-to-date, employee-related data (basic profile, job history, performance, role, etc.) on a centralized database that can be read anywhere, anytime to get workforce or company-related information. Remote workforce management software can save countless hours in time, organization, and compliance. Also, employee management involves employees engaging with others and building a vibrant culture
3. Organizational Management
Correctly build an organizational arrangement with pre-defined industry-relevant templates, industry processes, related reports, and compliance obligations to promote global employee relocation and all other global workforce management tasks in a natural way.
4. Benefits Management
Combine multiple plans and different options to auto-define, control, and tailor a full spectrum of employee-specific interests in a single interface to govern the eligibility/costs affiliated with it quickly.
5. Payroll Management
Cast down the central complexities in payroll processing with a complete form of payroll services by implementing inbuilt accounting module, automatic tax computations, simple tax declaration, Advances and Loan management, payslip access on Mobile, Multiple salary structures.
6. Workplace Management
Optimize daily headcount using different forecast and pre-defined templates for preparation and managing workforce ideally between processes like recruitment, employee onboarding, training & development, etc.
7. Compensation Management
Design and manage overall employee benefit plans across multiple teams, departments, and geographies uniformly. Link satisfaction with performance and organizational objectives, aggregate compensation data to view/edit it anytime.
8. Performance Management
Set personal goals, assign weightage, help, create a plan, and follow it with organizational purposes to determine the performance of each employee in an organization with comprehensive reviews (quarterly, half-yearly or annual).
Darwinbox talent management system caters to every performance philosophy mainly by giving continuous feedback, goal cascading, rating normalization, Merit planning, and multiple assessment framework
9. Timesheet Management
Automate timesheet process of employees to monitor performance, evaluation costs collected across the organization following multiple parameters (employee, business, client, role, project or project) and mix seamlessly with payroll and also some additional modules.
An Approach to Human Resource Management System (HRMS)
It’s not simple to manage a company’s most valuable asset. HR Management is a complicated process. An older HR process used to be wholly human-centric and paper-based. Later in the 1980s, where companies started learning how an HRMS can allow efficiency across all tiers of their organization.
And they’re looking for new, agile, contemporary, yet cost-effective cloud hr software solutions that deliver unmatched performance and scalability at a decreased cost. Rather than implementing an inflexible package, today’s HRMS programs present companies with the liberty to determine the features that they need and the pay-on-the-go based on usage.
Also Read: Features You Should Watch For in a New Age HRMS solution
