Why a Business Needs HR Software and Its Key Features

The Human Resources department is one of the key departments in an organization as it has the responsibility of managing everything, right from bringing new candidates on board to making them want to stay with the company. In other words, recruitment, onboarding, employee info management, attendance and payroll, employee leave management, etc. are only few of the many functions of the Human Resources department. A HR software is a software that is designed to seamlessly automate HR tasks in order to bring in increased efficiency and productivity.

Talking about examples, Digital HRMS is a good example of a customizable HR software that allows businesses to choose the modules that cater to their requirements. Wallet HR is another example of a software that helps businesses to manage Human Resources operations. There are several benefits that a HR software brings to the table. To begin with, a HR software helps the organization save costs in more ways than one. Many people out there might wonder if an HRMS software is really worth the initial investment. The truth is that it offers a really good ROI as manual Human Resources processes can prove to be really expensive over a period of time.

For instance, studies say that the cost of manually working to find the replacement of an employee can cost the company anywhere from 16% to more than 200% of the employee’s salary, depending on the position of the employee in the company.

With a HR software, this process can be simplified as the entire process can be automated, which means it can be accomplished in record time, with little to no manual efforts required. This saves the cost and allows the company to accomplish the same level of tasks faster and with a leaner team.

Cost savings is just one of the many benefits that a HR software offers. Another prime advantage is that it allows the HR department the time to focus on more important tasks. The manual processing of so much employee data for the many Human Resources activities can be time-consuming to say the least, and also require much efforts from the Human Resources team. A HR software reduces the time and efforts significantly, thus allowing the employees of the department to focus on more important tasks like strategic decision making.

Since the HR software automates the processes, it also leads to elimination of errors caused due to manual processing. So, when an organization invests in a HR software, it ensures that the processing of payroll, calculation of attendance and leave balance, processing of reimbursements, etc. are always precise and error free.

Reports are essential for studying any set of data and draw insights from them. When it comes to data about employee activity and other aspects of business operations, a HR software can create detailed reports in a jiffy. This is because all the relevant data is systematically stored in it.

Essential Features of a HR Software

• Provision to customize the platform to enable businesses of any size and complexity be able to reap the benefits.
• Provision for the admin of the organization to configure the software as per the company policy.
• Advanced features to streamline the process of recruitment.
• Advanced features to create a good onboarding process for the employee.
• Provision for the employees to apply for leave, attendance regularization as well as work from home requests by logging in.
• Detailed reports for quick access to key insights.