Table of Contents
Streamline HR processes and leverage better employee experience.
What is HRMS Software?
A Human Resource Management System (HRMS) is an HR software that facilitates the management of multiple HR functions using information technology.
The main aim of an HRMS is to enhance the overall productivity and effectiveness of the business through automating manual and repetitive tasks, thereby additionally, freeing up the HR team’s time. The surplus bandwidth later can help in addressing more strategic, business-centric tasks in the human resource management (HRMS) function.
An HRMS basically includes every element of an HRIS and encompasses the proficiencies of the human capital management system. The two strong features of an HRMS are Payroll and Time & Labor Management.
Why HRMS Software is Significant?
Considering HR expenditures, particularly office space, are in the invasion at present given the switch to a work-from-home model, businesses need to still precisely calculate labour costs to maintain revenue per employee KPIs current.
Additionally, businesses with rampage human resources departments need to be rolling out self-service proficiencies. There’s simply no point in an HR specialist spending time helping a manager with daily updates to hours functioned, for instance, or assisting employees in accessing forms such as W-2s.
Luckily, exact financial data reporting and secure self-service are merely two major benefits of a modern human resources management system.
Elaborating Key Functions of an HRMS Software
When taking into account which HRMS is right for your firm, it’s useful to imagine in terms of functional elements.
1. Employee Engagement
Employees who are more engaged are likely to generate high-quality work adapt to the company’s values and implement its vision, hence, how an employee associates with leadership and colleagues is essential. Very often, the HRMS enroutes a complete training course, acquires a new skill, edifice a career path, acquires recognition or becomes a mentor.
2. Employee Management
There’s a reason why this function is often termed “core HR.” Offers a centralized portal to sustain analysis, reporting, and compliance processes. This is where you structure your workflow within organizational units such as departments or locations; dictate reporting relationships between managers and employees; and align payroll to accounting cost centres. Hence, personal information is recorded and maintained.
3. Optimization
Extracting information from the HRMS to envision the future workforce is a major selling point. It’s also the least employed function of HRMS Software. The actual value of this function comes to the core with a blend or possession, keen economic swings in either direction or when executives exit. Companies optimizing the workforce are more buoyant to change and possess greater retention of top talent and better employee engagement.
4. Payroll
This is also one of the primary functions of the HRMS Software – measuring earnings from gross to net or net to gross, thereby withholding individual deductions and issuing payments can be performed similarly to a routine task such as paying the rent. Payroll functions include benefit elections and both employee and employer costs. Full-service payroll solutions also automate tax filing and deposits. Self-service functions enable employees to make amendments to elective deductions, direct deposit accounts and tax withholdings as well as retrieve copies of earning statements devoid of any HR assistance.
5. Workforce Management
Here, the HR teams track employee development, manager assessments and disciplinary actions; record time and attendance; as well as make sure the company is offering a healthy and secure work environment. Here reside the compensation planning, performance management, learning, and incident recording functions. HR can create timesheet structures, time-off policies, overtime rules, and approval chains that boost automation, control, and effectiveness.
Compelling Features of HRMS Software
After you have a clear understanding of which functions are essential, it’s time to bend into particular features.
1. Administration Benefits
This helps HR professionals create plans, configure eligibility rules, and make payments or deposits to benefit the providers. Additionally, it offers self-service open enrollment and fully integrates benefit costs with accounting.
2. Streamlined Employee Records
Delivers a single repository where all employee records are later stored, updated, and maintained. Enables better reporting and lowers the costs of compliance and preparing the audits.
3. Reporting & Analytics
Delivers the proficiency to exercise operational reports to track HR information, complete compliance reporting, build key performance indicators (KPIs) to calculate HR process performance and embed HR metrics into financial dashboards for enterprise-wide analysis, planning, and decision-making.
4. Rewards
Calculate salaries, hourly wages, variable payments concerning bonuses overtime, sales commissions, shift differentials and merit boosts while retaining regulatory and elective deductions, leading to precise net payments to employees at routine intervals.
5. Talent Acquisition
Recruiters can develop career pages on the company website and intranet, develop job requisitions and descriptions, manage positions, integrate open positions with job boards, manage resumes, track applicants via the recruiting process, formulate job offers, carry out background checks, monitor pre-employment screenings and build job application forms, before handing new hires off to a generalist or the hiring manager to initiate onboarding.
6. Talent Management
Allows HR professionals to develop and assess employees through performance reviews, goal management, and competency and skill test management.
7. Time and Attendance
Offers the ability to process time-off requests and handle time-off balances, employee scheduling and absence management. Also, enabling timecards to integrate with payroll and projects.
8. User Interface
Because an HRMS is accessible to the entire workforce, a user-friendly interface is vital. The modern system features employee and manager self-service, mobile apps, localization, personalized dashboards, workflow automation, role-based access controls and notifications so that the employees feel engaged and there’s a minimum flow of inquiries into the HR or IT departments to a minimum.
Smartinfologiks HRMS Software- HR Made Simple
Additional features can be found in personalized HRMSs, and every firm requires a fully loaded system. If you’re planning to use different providers to form the HRMS, make sure all the products encompass an open architecture to facilitate bi-directional data exchange, required integrations, and file uploads throughout the system.
Accompany simplicity, speed, and efficiency to all repetitive and mundane HRMS functions with Smartinfologiks’s BizSuite People – HRMS Software. We provide world-class employee experience. Kick operational HR out of the way and make time for high-value work with Smartinfologiks!
