Whether your business is large or small, taking the step forward and installing a modern Human Resources software suite can play a major role in cutting costs and maximizing productivity. In turn, this will of course generate savings that will enhance the profitability of the company and assist in driving it forward for future success. There’s quite a few ways that HR software can revolutionize the way a company recruits, operates and performs, so here’s a run through of the key benefits that such a package can provide.
HR software can spearhead recruitment drives
If you haven’t got the best people in the best positions, then your company isn’t going to be maximizing its profits. It really is that simple. Unfortunately, there tends to be quite a high demand and competition in sourcing the best existing and potential talent. HR software can be a very useful tool when it comes to helping your company attract interest from the finest candidates.
This is because HR software can perform many roles that would otherwise take up a lot of human hours, time that people can spend interacting, networking and searching for potential candidates online. Naturally this saves not just on payroll but makes the HR team able to use their talents rather than being bogged under with administrative tasks. HR software can be configured to:
- Manage online vacancy posts by creating adverts and monitoring online applications
- Arrange application and manage the interview process
- Reduce unnecessary duplication of data
- Simplify pre-employment checks by creating letter templates for references etc.
- Liaise with payroll to register new employees
All of these basic but essential tasks save money, resources and man-hours.
Assist in training and development
Businesses ought to have a set structure of individual development that emphasises the importance of keeping up to date with emergent trends. This is especially the case in technical, scientific or IT environments such is the unrelenting process of change, and failure to do so risks the company falling behind its competitors and being less able to serve its clients.
HR software centralises the records of each employee and contains a history of what courses/conferences/events they have attended and what is scheduled for them in the future. This is very important for new starters to ensure they quickly match the speed of their new colleagues. By presenting the information this way it is more accessible for management to make strategic decisions in regard to where their training and development needs to be focused.
Facilitate decision making
Human Resource software does more than just keep records of training. It also can be a valuable tool for centralising all information pertaining to how the company is operating, and how successful teams and individuals are at regularly making their KPIs. This can be extended to accruing information on turnover, frequency of absence, and especially recruitment where expenses, volume of applications and cost per hire can be easily molded into presentable charts.
Like all data it is easier to examine and understand trends when looked at as a series of charts rather than a list of numbers. This software can do this instantly making it a great tool for the boardroom.
Once again trying to free up HR staff for more hands on roles, HR software can be configured to allow employees to manage their own ‘accounts’. They simply log in and can see instantly things such as holiday accrued, timesheets, payslips etc. So rather than call or email through to HR who would then have to dig around convoluted lists of spreadsheets and files, HR software makes everything accessible from the point of service. This is especially useful for larger companies and again saves on payroll.
Dedicated HR software looks set to become ever more prevalent in the modern workplace and is on course to radically change the way that HR goes about its business. Rather than being a largely internal department serving a workforce, HR is going to become much more outward looking – especially when it comes to recruitment and generating an active online presence. There are plenty of options out there, but CIPHR is a good place to start looking having received excellent reviews from many HR professionals.
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.