The growth of technology has brought out many benefits and challenges to the world, and the business world is a part of it, including the Human Resources department. One of the huge impacts in the area of human resource management is using HR software to assist in handling the various HR tasks. But what do these technological advancements really bring to the table?
Here are 6 ways that HR software can transform your business.
Simplify Working Processes
Even though the working processes of every HR department in all companies are similar, they would have their unique way of doing HR tasks. Sometimes, HR units have to operate with the finance department about budget control. That is the reason why they need a cloud-based Human Resources Management System (HRMS) to streamline their processes and to meet their flexibility requirements.
A cloud-based HRMS can digitize all the time-consuming paperwork such as the record of recruitment, payroll, benefits administration, and other tasks. The HR professionals can access the data they need from a single interface, which makes the whole procedure smoother and more efficient. On the other hand, an HRMS can collect different financial data for the finance department such as human cost (wages, OT claim), recruitment cost, MPF, and benefits package spending, etc. It assists the finance department can easily getting finance data to simplify the working process for the report such as the balance sheet, and make decisions of budget control. On top of that, system providers can also customize the HRMS to their needs so that it works for them.
Time-Savings
Another advantage Human Resources Management Systems (HRMS) bring to the table is time savings. A powerful HRMS comes equipped with attendance tracking, project, and task tracking, and project work duration tracking capabilities. For example, the attendance tracking function makes it easier for the HR units to calculate payroll when they have accurate records of workers’ time ins and time outs.
Moreover, HR units can also use HRMS to handle different complex calculations such as 713 Ordinance, MPF, Tax, Health insurance, Overtime Pay and Payroll. Therefore HR units can streamline all the calculation processes and get an accurate result through useful HR software with less time-consuming.
Maintain productivity
The Hong Kong Mass Migration Wave is happening again.
According to the Census and Statistics Department, the population net outflow was 75 300 persons between mid-2020 and mid-2021.
What if some of your talented employees decided to emigrate, and no one is able to take care of their jobs? It can lead to the production drop dramatically.
With the help of HR software, it allows employees to work remotely. Employees can still work for the company in the short term, even if they decide to emigrate. It can buy companies the time to hire new employees and provide training for them so that firms can still maintain the level of productivity under the migration wave or workers resign.
Moreover, for those industries (e.g. F&B, Hospitality, and Medical industries) which require employees to work on the weekends and holidays. Supervisors can view the everyday workforce in real-time and leave the calendar of the team to understand the absence and overtime pattern of employees by using HRMS, so they can easily assign shift rotation to maintain the productivity of each day.
Improve Transparency
An HR software will bring a higher level of transparency in the business operation, which will give employees feel more secure, convenient, and fair. Be it an appraisal, promotion, hiring, training, development, disclosure of reward and punishment policies, checking the leave calendar of the team to understand the leave balance, etc.
For instance, every change and leave history will be recorded in the system, all employees can view and manage leaves anywhere, anytime online, also department supervisors can handle leave requests easily. All functions of HR will have a high level of transparency and it will bring benefits to the whole company.
Release HR from Mundane jobs
Even if some HR units are not familiar with the terminology, they are most likely using different tools in the cloud. Nowadays, every employee does not have to install these software solutions on the computer. Instead, they can just access them using a modern web browser or app.
When companies are using HRMS with the Employee-Self-Service function (ESS), employees can manage their information and application by themselves rather than submitting hard copies. For instance, employees can view their “Annual Leave Balance”, lodge leave requests, and edit their personal details anytime and anywhere.
This is not only good for employees, but this is also an advantage for the HR department too. Because they no longer have to deal with mundane tasks which are repetitive, boring, unproductive, and yet necessary, such as keeping employee records up-to-date. Instead, they can focus more on some valuable jobs that are critical to the company’s operations.
Keep the Employees updated about events or holidays
Do you keep your workforce updated regarding important company events? Do you remind them via email or other messaging tools? In that case, employees may easily forget the event if they are busy. One of the better ways to remind employees about the events is to put it up on the company’s public calendar which is a part of HR software so that your employees can check on their own time.
Furthermore, the company’s public calendar allows them to check when holidays are coming up for them. It assists them to adjust their priorities and ensure they can take care of the duties before the holidays.
A suitable Human Resources Management System (HRMS) can bring huge benefits to the company.