9 HRMS Features that will Help Your Business Grow

Software, Small Business, Business Human resource is an asset for any organization. The effective and efficient use of the human resource is an important for an organization to achieve its desired goals. Efficiency and effectiveness can only be attained by managing and tracking the worker data such as leave management system, attendance management system, on-boarding, recruitment management system, payroll, and more. Before Digitization, it was difficult to collect, organize and manage information, and the most challenging task was when one had to open the file cabinets to get the correct file from the heap. The technological boom and advent of the internet have made managing human resource very easy for the organizations. There are numerous HRM Software available in the market, but the biggest challenge lies in choosing the best one. Here are 9 main features that one should look for while choosing an HRMS for their organization because right HRMS leads to effective employee management, which in turn leads to higher productivity and business growth. Cloud-based HRMS software saves cost and time for any business. Cloud-based software offers real-time access to the data. In case of absenteeism, the employee can update his leave from home or a day before, so that his line manager can plan or delegate his work. The recommended model for HRMS is BiOKnox as it can be customized as per the organizational requirement. Potential to Integrate Data Every organization has an enormous amount of data regarding its employees which are saved in various files, excel sheets and drives. So the new HRMS should have the capability to integrate all the data existing in multiple sources into the HRMS software, and also create frequent backups for the database.

This will keep the data secure, and the threat of losing the information will be less. Payroll and recent updates on laws The HRM System should be capable of assisting in payroll calculation and also should be updated with all the recent changes that took place in Labor Law. The Payroll calculation is a tedious process, the HRMS should provide the automatic salary break up, and tax calculation as per the Income Tax Act, and all other calculations as per the Labor Law; such as Provident Fund, ESI etc. All the tax forms should be available on the software for employees to download and guidance to fill the appropriate detail Software Support and Security system Information regarding employees are vital and confidential, so before opting for HRMS software, the organization should find out about the support team of the HRMS service provider. The software can encounter any issue at any point of time, so a proactive and efficient support team is a priority. The data security is another concern which should be checked upon. The data should not be disclosed or lost by any chance from the software and should be updated with all recent changes that took place in the employee database. Should enable Training and Performance Management Training and Performance Management are two important components of HR Function.

When selecting the HRM Solution to make sure that it supports the training needs of the organization, such as; it allows the managers/HR to create, upload and disseminate training materials and modules. Also, tracks the performance of all the employees at every level. It should enable the managers to set the appropriate key result areas (KRAs) for his teams and keep both employees and managers updated, regarding the progress of the work and achievement of the set goals. HR is a core support function of an organization and choosing the right HRMS with relevant features will help your business grow!