As technology continues to propel us forward, business practices now have the potential to become more efficient and streamlined than ever before. Companies are moving on from outdated HR practices by implementing software designed to automate repetitive admin tasks and free up valuable time and resources that can be used on other projects.
Whether you’re running a small business or managing a global company with thousands of employees, almost every organisation will benefit from switching to a specialist HR system. Let’s take a look at the top five ways utilising dedicated HR software can help streamline your business.
#1 – Improved efficiency and productivity
By automating tasks and managing large quantities of data more efficiently, HR software can save your company valuable time and resources that would be better spent elsewhere. One of the main draws of human resources software is its ability to significantly reduce manual labour, almost eliminating menial and laborious tasks from an HR officer’s responsibilities.
Things like approving holidays, certifying absences, and chasing managers to complete annual reviews can all be delegated to the automated self-service system. By boosting productivity and reducing the total amount of manual labour hours required, your company could make considerable savings in costs and increase its bottom line.
#2 – Improved employee experience
Let’s face it, these days, almost everything is done seamlessly through a mobile device. Some apps let you order food to your door, book international flights in minutes and even turn on your coffee machine from the comfort of your own bed, so why not have one that lets you manage your work information remotely?
With HR software, employees can access a self-service portal (usually via a mobile device or computer), where they can obtain crucial information and process requests without the need for calling, emailing, or visiting the HR department in person.
This hands power and responsibility back to the employee, boosting morale and improving the overall employee experience. Furthermore, as many of the HR worker’s jobs become automated, it opens up flexible working options to your HR department staff as remote working is more easily facilitated.
#3 – Access more accurate data and reduce human error
In business, mistakes cost money, and that’s something most business owners look to avoid. The unfortunate truth is that humans are much more liable to produce errors than computing software, so the more processes that can be automated, the better.
In addition to this, HR software can access company and employee data in real-time, allowing you and your staff access to more accurate data at all times.
Possessing more accurate data will enable you to make better informed decisions about your business as you can analyse and report on your current circumstances with more precision than previously possible.
#4 – Easier to keep up with regulatory compliance
While simple errors in payroll can cost your company money, it’s a whole new ballgame when it comes to compliance and meeting regulatory standards.
These days, companies must meet many different compliances if they are to remain legitimate and avoid hefty fines. This is especially true for companies of a larger size or those that deal with sensitive data, such as businesses in the finance and healthcare industries.
HR software provides much-needed solutions for dealing with customer data security (GDPR), wage and hour law compliance, health and safety compliance, as well as the storing, processing, and handling of employee information.
#5 – Allows for scalability
Last but certainly not least, HR software takes away one massive obstacle when it comes to the scalability of your company. Traditionally, when a company grows and its staffing requirements increase, it must hire more employees to manage the employees that are onboarding.
This is a genuine challenge that successful businesses face and is a potential roadblock in your company’s growth. It could very easily slow down your expansion as hiring processes can be lengthy and problematic.
However, implementing an HR system allows for a much smoother scaling process as most of the functions are already automated. The ratio of HR staff to employees can be significantly reduced, allowing your company to grow and manage increased demand more efficiently.
Final word on HR software
While companies of all sizes can find benefits from implementing an HR system, it’s essential to find a solution that fits your particular business’s needs. The HR software market is expected to reach $10 billion by 2022, and thus there are plenty of options for each company to choose from.
With that being said, if you’re managing a small business or you’re scaling a start-up with relatively few employees it may be worth waiting to invest in an HR software solution, as they can be expensive and often require a considerable upfront investment.
Admittedly, it’s a difficult one to judge. Adopt too early and you run the risk of investing in a tool that won’t be able to provide its full return. Adopt too late, and you could be missing out on the massive opportunities and benefits to be had while your competitors gain an advantage over you — food for thought.