Do you know the market size of companies adopting Human Resource software right now?
As for now, the market size of the HR software market is exceeding $250 billion in worth, which is enormous, if it wasn’t clear. The reason is simple; companies are now focusing on making their processes streamlined and efficient.
This is possible when everything from recruitment to onboarding, training to performance evaluation, attendance to payroll, and compliance is done with the help of automated HR software.
This innovative tool is changing the dynamic of the business market today. Just in the USA, almost 65% of small businesses have used HR software. In addition, nearly 15% of the companies are excited about the results and hope to automate their processes within 1 or 2 years.
This shows how businesses have acknowledged the importance of using such tools to compete in the global market. The competition is to make all processes faster, free of errors, and efficient. These are the factors that can take you in front of the line of your competitors.
What is Change in HR?
By the word “Change,” we are talking about the positive improvements resulting from implementing software solutions in all departments of businesses in general, and in the HR department in particular.
Change is when the HR staff can save both time and cost, employees can check their details with transparency, and all bonuses are deductions automatically calculated without mistakes.
When you shift from manual attendance to automatic attendance, biometric, this is a change.
When you are checking the punctuality of an employee online instead of checking the past records from spreadsheets or, worse, from papers in files, this is change.
When you evaluate an employee’s performance online so all managers, CEOs, and board of directors can check it online and approve it, this is a change. This is a very good change indeed.
When the management is able to make fast decisions, this is change.
This is change, when the decisions are data driven and full of insightful statistics.
These are some of the remarkable ways in which HR software is changing the HR landscape for a better and more profitable future.
Pay your employees the right way, at the right time, with the right amount
The HR department is fundamentally responsible for employees and their payroll management.
Do you agree?
For employees, their happiness, and their engagement, payroll is one of the most crucial factors. Ask your employees today, whichever industry you are from. Payroll is one of the most important factors that drive employees. Of course, other factors like involvement, motivation, career advancements, and so on also have an impact.
With a good payroll management software, you will see how easy it becomes to manage and calculate taxes, other deductions, bonuses, basic pay, and time tracking, etc. Try for yourself. Demo options are available from some great HR and Payroll Management Software like Resourceinn.
HR Staff and HR Software
The Old Way: THEN
Previously, the resumes were submitted on paper. HR manager then started checking out the ones at the top. The screening process was totally based on the human effort and the human HR manager’s bias.
Payroll was based on an attendance system where the buddy system worked like a charm. While calculating, a minor data entry error created a mess where the company lost thousands of dollars. Compliance was a big problem.
HR officials seldom share performance evaluations with the employee for whom the assessment was done.
The New Way: NOW
Recruitment software can screen resumes based on the criteria and keywords. The HR can use filters to find out the best applicants.
The attendance system is transparent. Employees come, use biometric verification for attendance, and the timesheet is available for everyone to check.
HR software helps calculate the correct payroll by automatically deducting taxes, adding bonuses, etc.
Performance evaluation is available online, where transparency is no longer an issue. All records are available online anytime they may need it.
Conclusion: Reality is Amazing – Technology is profitable
Some benefits that businesses see after using a good HR software:
- Reduced cost
- Fewer mistakes
- More efficiency
- Focused efforts
- Actionable intel
- Compliance ensured
- Employee self-service
- Data-driven decisions
- Maximum productivity
- Better data entry system
- Critical data management
These are just a few of the benefits, and once you use a demo or select any software for trial, you will see the benefits for yourself. The right HR software may not be the one your competitor is using. So, select the one that matches your company’s requirements and needs.
Check the features of the HR software or the Payroll Management Software, whichever you need, and match the cost with your budget. Check to see if the software you want may integrate with another in the future if the need arises.