To every hurdle a business faces, software seems to be the answer. Due to this very reason, your organisation must be using a software to help you with marketing, accounts and financing. Why? Because you consider that a necessity. However, only a few of you would be using an HR management software. Why? Because you are still unaware of its true potential.
Now, payroll-related benefits are the ones that you all might be already well aware of. Take a look at this blog to know some other hidden benefits and the real reason why startups, SMEs and big enterprises are using an HR management software and why you too should.
Upscales productivity and efficiency-
Anyone in the organisation can escalate his or her concern easily through a comprehensive HR and payroll software. Moreover, the software automates the payroll process to a large extent. Just a few clicks and the payroll is done. The software also has notifications, reminders and planners to ensure you don’t forget doing any important task.
Early warnings to save financial loss-
HRIS software are also capable of generating reports that can help you in taking some crucial business decisions. YTD report, attrition report, TTH report and many others allow you to foresee the problems and take corrective actions to save the company from incurring additional costs or losing it.
Reduced recruitment costs and time to hire-
Recruitment is one of the most important HR task. The better the people an HR hires, the more an organisation soars. However, sourcing in itself is quite a tedious task. The candidate database in the software helps you in creating the same in advance. Moreover, if it can be integrated with the candidate and consultant portals the coordination gets seamless. Also, creating a talent pipeline becomes hassle-free. All of this collectively helps you in reducing time to hire and also the recruitment costs.
Better performance analysis and fair appraisals-
The HR software also makes it possible for you to have a track record of performance of each employee through means of goal setting, kudos and self-evaluation. The manager doesn’t need to toil his brain nerves to recall all the good and the bad that an employee has done in the past year. A critical self-evaluation of the performance and later revision of the same by the manager and HR further eases the process of appraisals.
Improved employee engagement and retention- Kudos, right salary crediting, fair appraisals show employees how much you value them which thereby helps in improving employee retention rate. Apart from this, features like new joinee name mention, birthday mentions, helpdesk, planners and announcements of events, competitions and celebrations increase employee engagement.
The Final Takeaway
Clearly, HRIS software helps you in managing HR chores, increasing productivity and saving money. However, your investment may turn out to be less fruitful if you will buy a software in haste. So, check well-off in advance if the offering of your software are aligning well with your immediate and future needs.