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HR Software in India

HR Software in India

Recently HR software solutions are emerging and most important to have and became the popular tool in the industry, there are various reasons why people are choosing HR software solution but the most important and foremost reason behind implementing HR software is introducing automation in HR department, eliminating the risk of information loss or data loss, maximizing the productivity of HR team etc.

HR Software in India
HR Software solutions are also popular because it comes with employee access which is add on feature to the HR department to make HR processes and workflows system driven instead of having HR processes and HR workflows manual. HR department can leverage the use of technology and can achieve the maximum productivity and automation of the HR workflows across the organizations. HR software can implement very easily and to start using it companies can take Capex or Opex model based upon their spending capacities and requirements. It’s even available at Rs. 1 per employee per day in the market and there is no upper limit to the niche segmented HR software solution offering automation in different areas of HR processes.

Types of HR Software in India

Core HR System:

Core HR Systems are the basic systems which we believe is MUST to HAVE tool for any organizations having employees, Core HR System offers variety of HR modules right from Employees Information OR Data management. Core HR Systems eliminate the manual work and help HR team to introduce the complete automation in the HR processes and they can maximize their efficiency and reduce the errors caused by the manual work. A Core HR Software could be standalone software available on Cloud and On Premises OR it could be a supplementary module / feature to any business software OR ERP’s, but it will be always considered as the centralized database in the business eco system and all different software solutions.

Applicant Tracking:

An Applicant Tracking system is a specific application designed considering the recruitment process and methodology of recruiting OR hiring the people, it contains different stages of pre hire activities and workflow

Employee On-boarding:

Employee onboarding software is a supplementary module OR it acts as bridge between applicant tracking system and Core HR systems as after HR tea concludes on the recruitment process onboarding is the immediate next stage and on boarding software offers steps by step execution of the employee onboarding (pre and post) activities. HR team can set up the custom on boarding checklist and can monitor the progress on the same, on boarding HR software eliminate the risk of missing / misplacing the of any on-boarding task. On Boarding HR software provide structured way of introducing / connecting new employees to the organization, it also includes processes like on boarding survey, digital signatures, pre and post on boarding check list etc. All it includes is facility of giving smooth on boarding experience to the new hire.

Performance & Succession Planning:

Performance management tools are very popular now a days because of the simplicity and business specific approach and model of managing employee performance. Performance management process is one of the Key HR processes in the entire list as it turns to be employee development process and with the right performance management tool and approach companies can identify, retain and develop the talent and do the succession planning accordingly. Performance management systems enables employee, manager and HR team to work collaboratively and discuss on the companies objective, the key outcomes expected from the team leaders and how it can be allocated within their teams and then doing performance evaluation on the clearer terms and discussion would add transparency to the entire process of performance evaluation and succession planning.

Rewards and Recognition:

Rewards and recognition tools are relatively smaller tools than other HR management tools, but it creates a meaningful impact to keep employees engaged with organization and its achievements. Now a day’s companies have introduced many innovative ways to recognize the employee performing and rewarding them in multiple ways. Reward and recognition are a process of rewarding best talent with the objective of nurturing the maximizing the return and performance of the employees.

HR Software Solution

Key components of HR Software

Workforce Administration: Workforce administration is a main task of HR department and where HR is investing their lot of time and energy, HR software solution would automate the employee lifecycle management and gives a facility to all the stakeholders in managing the HR much more efficiently and effectively.

Compensation / Payroll management: Payroll is very critical and important function; HR team need to make sure that they are paying employees accurately and there should not be any error in the calculation. Payroll huge function by itself as it includes several important things including loans, reimbursement, benefits, incentives etc.

Performance Management: Set up right criteria to measure employee performance is very important task and performance management process keeps the HR, Business and employees in sync for their goals, KRA’s and achievements. HR leaders have invented several model wherein different industries can implement the same and accordingly they can do the performance evaluation of their employees.

Talent Acquisition and On-Boarding: Acquiring the right talent for the business is the important function in the HR department, planning and executing the resource requirement is the main task of the recruitment team and Recruitment automation software OR Applicant tracking system make this task effortless and smooth.

Benefit of HR Software

Reduced errors: HR Automation and workflow restricts the wrong entries in the HR application and thus companies can achieve the maximum accuracy and reduce the percentage of errors and miss calculation.

Employee Data Enhancement: Keep everything in more structured way so that the accessibility of employee data, document and other key important data points are well accessible and analysis friendly.

Structured Process and Workflow: Automation and structured workflow creates transparent working culture and it also help HR team in implantation of policy adherence across the levels.
Continuous feedback: Knowing the facts on the achievement is very important and with the help of system-based feedback mechanism employee and manager communication will be enhanced and they can be always in sync for the list of deliverables, performance, training requirement etc.
More accurate analytics: Accurate data drives meaningful analysis and information which can be further classified as observation and classification based upon the requirement and trend to be analyzed. System bases data is always better than the manually prepared data by the MIS team.
Succession planning: Proper succession planning can give more effective leaders and it will help creating the talent pool in the organization. A good talent pool can maximizer the overall performance of the company and leadership qualities in the individuals.

Thing should be considered while Evaluating HR Software

Doing anything for the company should be well thought and planned properly. Same is the case with HR software implementation as well, you should consider below things while evaluating the HR software
  • Involve Everyone
  • Assess Risks
  • Adopt an appropriate methodology for implementation:
  • Carry out a Business Process Overview, and clearly define your requirements:
  • Understand the Data and Clearly Define Requirements

Trends in HR Software Industry

  • Automation Via AI and RPA
  • Virtual and Augmented Reality
  • Employee Experience
  • HR Guidance
  • Real-Time Performance Feedback
  • The New Way to Work
  • More Dynamic Working Shifts
  • Task Planning
  • Wearable Tech
  • Greater Integration Capabilities

Costing of HR Software

As on today there are dozens of companies offering HR software solutions, couple of them are old players offering dedicated HR platform, few start up companies offering particular solution to niche segment of HR and few are still trying to figure out their presence in the market but offering the HR platform. The global HR software market size is expected to exceed USD 10 Billion by 2022. Companies are even offering HR platform for free. (it’s available on open source platform). Cost of the HR software depends upon your needs OR requirements. In the current market HR software are available from Rs. 1250.00 and there is no upper limit for the enterprise-based HR software implementation