Key Modules of an Hrms Software for your Business
A human resource management system is a growing necessity for small, mid-sized and large enterprises. It gives the management a micro and macro overview of their employees, their collective and individual performance, automating all processes and helps them to make better decisions. A KPMG survey revealed that 72% of HR executives are of the opinion that a new HRMS can provide the benefit of better functionality. Also, 48% executives are planning to change their HR structure in the near future in order to attain cost effectiveness, enhanced efficiency and improved quality.
Now that the HR software market is steadily reinventing itself, it is vital for a business to know more about the key modules that a human resource system must have in order to provide your business with desired insight and efficiency:
Recruitment Module: Recruitment is a critical continuous process that defines the growth of the organization. The HR must identify the ‘right person for the right job’ efficiently to ensure the company achieves its objectives as per the timelines assigned. However, handling countless applications and managing their recruitment journey can be demanding, time consuming and rather tedious. This is why any HRMS software you opt for must have a comprehensive recruitment model that will help you recruit in shorter turnaround time.
Embee’s HRMS solution, Octane, makes the recruitment process easier and quicker with its in-built talent requisition forms, conducting online tests, screening, short listing candidates, scheduling interviews, creating a comparative study of selected candidates, comprehensive feedback analysis and automating manual jobs like generation of appointment letters.
On-boarding Module: On-boarding new employees can be a challenging task for organizations that are growing aggressively. The time and employee costs involved are not favourable. However, one cannot ignore the importance of this process.
Still, reports state that only 10% of HRMS solutions come with this feature. Do ensure that such a module is available in the solution you opt for.
Apart from the basic, the induction module of Octane enables businesses send notifications to all existing employees regarding a new joinee, get the employee started with all relevant tools and provides a guidance on using any necessary software.
The overview module inducts the new employees with an overview of the organization, the culture and work ethic and various policies – enabling them to familiarise themselves with the organization and integrate better.
Training Module: Due to the scarcity of skilled personnel it is important to empower your workforce with appropriate training to enhance their skills and make them familiar with the latest industry practices. Octane’s training module identifies the level of knowledge of each new employee and states the training requirements needed. Once approved, Octane’s centrally managed training and development module sends reminders and alerts to all employees about pending trainings and enables all data, statistics, resources, development paths and assessment results to be stored within one central system. Such a feature enables employees to improve their performance and increase their overall efficiency.
Performance management module enables the management to track the employee’s productivity, punctuality and efficiency to forecast the overall performance of the organization and make decisions.
Performance Management System: The performance management system is singlehandedly one of the key modules of an HRMS Software.
The management can steer accordingly to make the required changes to achieve the business goal. Such a system helps increase the business productivity.
With performance management tools Octane 180˚ and 360˚, Octane can record individual KPIs and KRAs and provide the management with accurate information on its workforce efficiency. The management monitors the progress of each employee against their targets and guides them accordingly. This enhances the employee morale and helps the management to retain their top employees.
Exit Management: Similar to on-boarding, the off-boarding process of an employee must be a smooth and systematic process to ease the separation process of an employee from the organization. It covers aspects impacting the organizations ability to re-claim or settle with the employee along with house-keeping requisites such as no dues certificates or signatures from various departments required by the employee. In the absence of an exit process, such situations can have a negative impact on the company’s reputation. Octane’s HR management system provides a comprehensive solution for exit management by automatically calculating the employee notice periods and salary settlements. It increases the efficiency in employee exit management and ensures accurate settlement.
2016 Global HR Transformation Survey
The above mentioned modules are critical for every HRMS solution. Embee’s Octane is a comprehensive and agile HR management solution for small and medium-sized businesses today in the Indian, African, and Middle Eastern markets. This system will enable you to work better, smarter and faster.