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Benefits of HRMS Software in India

What is HRMS?

HRMS is stands for Human Resource Management System and it is also called HCM (Human Capital Management). HR work is more complex and involved today than it ever has been. There’s so much that goes into the management of employee information, which is used for everything from recruiting and hiring to training, evaluations, and so much more. With the increase in Business complexity and competition, employee management has become increasingly more complicated and difficult. Employees expect more from their companies and companies expect more from employees.
To achieve the maximum in each case, a proper system is required to manage employee expectations as well as their output. An HRMS aims to improve the productivity and efficiency of the business through the automation of manual and repetitive tasks. This, in turn, also frees up the HR team’s time which can then be used to address more strategic, business-critical tasks. As the number of employees in an organization starts growing, the task of managing them and their data becomes difficult. Sensitive workforce information stays scattered in multiple folders and locations. Integration is much of a manual task. Screening, hiring, on-boarding, payroll management, training, engaging candidates, keeping track of attendance, etc. are just some of the functions that suffer owing to manual management. The efficiency of HR starts dropping down considerably.
A human resource information system enables a company of acquiring, storing, analyzing and distributing information to various stakeholders. HRIS enable improvement in traditional processes and enhance strategic decision-making. The HR technological advancement has revolutionized each and every space of life today in corporate, and HRMS includes HR Functions as well. Earlier the systems were basic and limited in scope, typically focused on a single task, such as improving the payroll process or tracking employees’ work hours and managing the limited resource. Now days the systems cover the almost area of tasks associated with human resources departments and its functions, including tracking and improving process efficiency, managing organizational hierarchy, tracking absence/present and day to day leave transaction, simplifying payroll & statutory transactions, and providing different level of reports on functions wise data. In short, HR technology systems evolved to fit these needs, as the role of human resources departments expanded in complexity.

Introduction to HR Market in India

HR industry can be broadly classified into the human resource administrator segment and talent management segment. Major HR technology industry players are focusing on talent management segment instead of administrating the HR functions. The increasing trend towards category convergence, in inter and intra human resource categories may also increase demand over the foreseeable future. The industry is also characterized by a slow shift from traditional back-end administrative HR to an integrated talent management system coupled with applicant tracking and learning management systems. Rising demand for performance and succession management to identify and train future leaders is also expected to be a major driver. The availability of several on the internet software is also anticipated to increase competition for incumbents. The development of smartphone applications for human resource management is also anticipated to further increase industry demand. High adoption of different technology and intelligence in the HR department has opened up avenues for industry growth. Cloud proliferation is expected to open a novel market for human resource system consulting.

The way technologies are getting reforms that we have experienced over the years, it is not surprising that low-grade jobs are getting replaced with machine learning and artificial intelligence. The digitization in the country has witnessed a rapid gain in the overall rate of how people generate employment and convert the same into productivity. We have witnessed India being a country with little to no realm of boosting technological reforms to one of the countries with the highest technological development. HRMS has gravely impacted the HR technology and the HR industry on a whole. If you are still wondering about the grave nuances and setbacks that this niche has experienced, you will be happier to know that the level of upgrade overwhelmed these small setbacks to the core. India and its HR industry, along with the technological reforms, are thriving and flourishing with the days. If the current status of the HR tech is to be considered, the scenario looks pretty decent with further scopes of proliferation and rapid growth. The same is still a work in progress and might take up quite a decent amount of time before we are finally rewarded with the results that the officials and companies are expecting.
Benefits of HRMS Software in India

Components of HRMS

HRIS

Capture every minute details and documents in your master employee file. With Beehive HCM you can capture more than 250 different information fields, enabling you to centralize entire employee information.

Leave

Flexibility to define multiple leave types with defined rules and applicability on each. further, it can be configured as per the leave rules/policy. Robust leave configuration with respect to all the leave eligibility, accrual, credit frequency, encashment, etc specific to the leave types.

Attendance

Attendance management system that works real time. HRMS software provides capturing the attendance, Shift & Roaster management, Application & Approvals, API ready for the integration, Location Tagging etc.

Payroll Management

Payroll Management or Salary management includes a comprehensive payroll engine to define different salary structure, handle the complex salary calculation, manage the investment and statutory compliance and generating the pay slip, form-16, and salary sheet etc.

Recruitment Management

Hire, Nurture & engage your new talent. Talent acquisition or recruitment management system enhances the complete hiring process. It help company to manage the recruitment in a systematic way which automate the requirement submission to On-boarding a candidate which includes short-listing of right candidates, resume screening, scheduling the interview, collecting the feedback, generating the offer letters etc.

Performance Management

Performance management is used to evaluate the overall performance and achievement of employees which is also referred as Appraisal system. Considering the fact that your employees each KRA and KPI will be having different weightage and different way of evaluating, An HRMS helps company in automating the appraisal process for different group of employees with the different evaluation types and that will eliminate the manual efforts of calculating the rating and it will also add the ease in doing the reviews on the performance of an individual based on different degrees of reviews.

Travel Management

Travel management software allows companies and individuals to spend less time manually planning trips and logging travel expenses. It also provides solutions to unforeseen travel mishaps, such as a canceled the travel. In these cases, a comprehensive travel management product will manage the process. Travel management software automates travel requisition and associated workflow. There are different features in travel management which include domestic & international travel, define eligibility criteria Grade wise, Travel desk, Travel analysis and travel related reports.

Expense Management

Expense Management Software is a financial product that allows users to submit, track, process, and reimburse employee expenses. It is also used to submit travel related expenses & reimbursable project expenses. Setup the expense policy and define the eligibility for local and travel related expenses. Define the different type of expenses based on the nature of business and define the entitlement of limit grade and level wise.

Grievance Management

Grievance management is handling the employee issues like dissatisfaction or complaints (e.g. favoritism, workplace harassment, or wage cuts). By implementing a formal grievance management process, company provides a safe environment for your employees to raise their concerns. All the concerns can be handled through a tool which automates the flow of each grievance to the different handling team or departments to resolve and close. Tools also provide rights to employee to submit their satisfaction with the resolution.

Survey & Poll

Depending on your HR discipline, workplace surveys can help you understand the impact of current programs and policies, while allowing you to identify areas for improvement. The attitudes and opinions of your employees are strongly tied to human resources areas such as employee benefits, Global HR and staffing. Company can release the survey questionnaire and collect the feedback from employees where employees can submit their important feedback which helps management to take the proper action.

Training Management

HR Software helps company to streamline the training process. HRMS software allow to manage different trainings through Training management software, you can create different training type, schedule the training, collect the pre & post training feedback and do the assessment on training provided. HRMS software also helps employee to get themselves more effective in work as they can recommend themselves for ongoing training in organization.

Time sheet Management

Timesheet management is a tool of monitoring and analyzing employee recorded work hours. Time sheet management also involves taking different task and invested time on the particular task. This helps management in tracking the productivity of employees through timesheet which provide the work hours they have spent on task or other activities.

Benefit of HRMS Software

HR software save the time of HR team:- implementing HRMS is one of the basic purpose of HR team to save the important time which can be utilize in some other areas. In manual process of maintaining the complex data and get the analysis reports take much time and the same can be minimized through a good HR software.

HR Software allow to access the information on fingertips:- HR’s don’t even need to worry about being logged into your company network, making HR software ideal if you work from multiple locations or have a remote team. In today scenario companies are working 24*7 and at the multiple location which create lot of issue in maintaining the correct and proper information timely. So in this situation a good HRMS tool can help the HR team to manage the data centralize and access the same as and when required.

HR software enables security of the Information:- By Implementing an HRMS tool also allow HR to make the information secured in case of any disaster or corrupting any system. Company can created easy backup for HRMS data which creates a backup process also which can restore all the information quickly and enable you to continue to work. HR software also enables security in terms of role wise system access that makes users to view or edit the information which are relevant to them.
HR software enables security of the Information:- By Implementing an HRMS tool also allow HR to make the information secured in case of any disaster or corrupting any system. Company can created easy backup for HRMS data which creates a backup process also which can restore all the information quickly and enable you to continue to work. HR software also enables security in terms of role wise system access that makes users to view or edit the information which are relevant to them.

Tracking & Managing Leave & Absenteeism:- HR software helps company in streamlining the leave management and tracking the Absenteeism. HRMS provides workflow based application and approvals of leave and notify the absenteeism.

Salary calculation and compliance management:- the salary processing and compliance management is regular monthly process which require to be completed without error. HR software helps company to automate the payroll processing and it fetch the attendance, LOP, Leaves details automatically and process accurate salary in very less time. HR software also provides all the required reports related to salary & Statutory compliance.

Salary calculation and compliance management:- the salary processing and compliance management is regular monthly process which require to be completed without error. HR software helps company to automate the payroll processing and it fetch the attendance, LOP, Leaves details automatically and process accurate salary in very less time. HR software also provides all the required reports related to salary & Statutory compliance.