Considering adding a human resources management system (HRMS) to your business? These suites of software applications can be a powerful resource for overseeing and streamlining HR functions in ways that save time and money while also keeping your company fully compliant.
With functionality that can include payroll management, time tracking, benefits administration, reporting and analytics, and more, HRMS solutions can be highly beneficial for companies of virtually every size. If you’re not quite sure that adding an HR management system to your business is the right move, here are five of the most significant benefits to consider.
1. Enhanced Efficiency and Streamlined Processes
Quality HR software can significantly improve workflows, streamlining processes like onboarding, training, and performance management, ensuring a smoother experience for both the HR teams and employees. For example, manual data input is the bane of HR professionals everywhere. From payroll processing and benefits admin to leave management, timesheet tracking, and beyond, having to update records and systems by hand is time-consuming and can lead to mathematical and clerical errors.
One of the biggest time-savers a human resources management system can offer is the ability to automate and streamline these repetitive tasks and free up your team’s time for more strategic activities that can benefit the business. Additionally, they provide centralized digital data storage capabilities, the benefits of which include:
- Less space is needed to store paper records that are vulnerable to being lost or damaged.
- Quick access to the right documents needed to answer a question or address a situation.
- Personal information, benefits enrollment records, performance data, and more are consolidated into a single platform.
- Easier accessibility to and consistency of data, both of which save time and help ensure all employees are treated equitably.
2. Optimized Recruitment and Talent Management
In this era of increased employee turnover, HR teams are spending more and more time working on talent recruitment and workforce management. Fortunately, HR management systems can streamline this process as well.
Applicant tracking systems can efficiently manage job applications, screen resumes, and schedule interviews with qualified candidates. Once you choose the right candidate, onboarding automation streamlines the process and delivers the necessary information to new hires, including but certainly not limited to training resources. It can also help you build a database of qualified candidates you can tap for future openings and make the recruitment process faster.
Employee engagement software can be a crucial piece of the puzzle, as well. This type of human capital management application tracks levels of team members’ engagement and satisfaction. You can leverage this intelligence in various ways to boost employee satisfaction rates, which in turn has a positive impact on retention rates. When you want to foster a more positive workplace culture, enhance communication, and assist in employee development, employee engagement software can be an invaluable tool.
3. Data-Driven Decision Making
HR departments must make a wide range of decisions across the entire employee lifecycle—those associated with recruitment, retention, retirement, and plenty in between—as part of their core HR functions. These decisions should be based on trustworthy, objective evidence and a human resources information system is ideal for providing relevant data in easy-to-understand reports and dashboards.
With HRMS software, you can access targeted analytics, reporting tools, and valuable insights into workforce trends, employee engagement levels, and performance metrics. This information gives you powerful information that enables you to better identify areas for improvement, make informed decisions regarding talent management strategies, demonstrate the ROI of HR initiatives, and make continuous improvements in human resource functions as a whole.
4. Improved Employee Self-Service Opportunities
HR software platforms transform processes in truly empowering ways. In the past, HR transactions involved the human resources staff managing processes for employee data management, leading to delays in action, a lot of manual administrative work, and increased stress for everyone all around. Today, HRMS software can provide employee self-service features that put the employees in the driver’s seat of their own information, benefits, and more.
For example, an employee portal can give your team members to access their pay stubs, update personal information, request PTO, and manage benefits enrollments electronically. This provides increased transparency, giving employees greater visibility into their work schedules, performance evaluations, company policies, and so much more.
Best of all, this is accomplished with a reduced administrative burden on your HR team. Implementing a human resource management system minimizes the need for employees to go directly to HR for basic inquiries, allowing you to focus on more strategic tasks that contribute to the company’s overall success.
5. Reduced Costs and Improved Compliance
Automating tasks and streamlining processes helps minimize administrative overhead, naturally reducing costs and contributing positively to the company’s bottom line. While there is an initial investment with human resource management systems, you can quickly recoup those dollars in cost savings and employee productivity.
Using an HRMS system can also make it easier for your company to comply with labor laws and regulations. Most software systems offer automated reporting features, timely reminders for meeting deadlines, and continual updates as laws and regulations change. Because the software reduces the risk of human error in manual processes, you have access to more accurate data and benefit from improved recordkeeping. You can also better avoid fines and penalties for non-compliance violations.
Choosing the Best Human Resource Management System
Integrating a human resources management system into your business operations can deliver substantial benefits across various aspects of your organization. From enhancing efficiency and streamlining processes to optimizing recruitment and talent management, HRMS solutions offer a comprehensive suite of tools to streamline HR functions.
Axiom Human Resource Solutions offers user-friendly HR management system software powered by UKG Ready. Whether you need applicant tracking, onboarding automation, employee self-service options, or robust reporting functionalities, our solutions can be designed to seamlessly integrate with your existing business infrastructure and specifically for your needs.
With Axiom’s HRMS, you can gain a competitive edge through improved efficiency, data-driven decision-making, and a more engaged workforce, all while ensuring regulatory compliance. Contact Axiom Human Resource Solutions today to learn more about our HRMS software and how it can help your business thrive.