While automation in finance, operations and marketing has become more or less standard for businesses large and small, HR software is still deemed less of a priority. Tight budgets and limited IT resources often prompt small and medium-sized enterprises (SMEs) to handle HR and recruitment manually — without fully comprehending the increased spends that come with it. Here is an article we wrote a while back on the subject. With a reasonable investment upfront, small businesses can now address their major HR pain points through automation.
The benefits of this move include:
Error-free payroll processing
Transparent access to leave and attendance information
Optimized core HR operations
Read on for more on the different aspects of automation and what small businesses can gain from the same:
Accurate payroll processing
Payrolls can be processed with a single click and in a timely fashion, with an assurance that they are in line with the latest laws and regulations. Automation also simplifies the management and execution of complex salary structures with multiple components — such as tax and deductions — that would be tedious to handle on an Excel sheet. Employees, moreover, can use a payroll software to request expense reimbursements and check their own payroll slips whenever they need to.
Simplified core HR
All the administrative functions involved in managing a workforce can now happen through a well functioning cloud based HR software. These take care of daily activities like attendance tracking, leave management, regulatory compliance, employee data storage and updates and the use of company assets. Tools like this typically feature a self-service portal where employees can manage their own data and submit requests, which eliminates the need for lengthy mail trails and physical follow-ups. Here is an in-depth guide to understanding an HR Management Software.
Easy attendance and leave management
An automated attendance system that integrates with payroll allows the payroll department to accurately process monthly salaries, wages, and overtime. And when it comes to individual employees and their managers, both are given complete visibility into aspects such as remaining leaves and availability of resources. Other benefits of automated attendance and leave management include easy statutory compliance, solid data security, and mobile access — none of which are ensured with a spreadsheet-based system.
Automation can streamline and enhance company-wide communication far beyond emails or instant messaging. Sending out memos or newsletters is much simpler, and notification templates can be used to manage texts or emails that need to be sent out at a specific date and time. Software also allows for automated communications to go out for different employee lifecycle events, such as birthdays, work anniversaries, resignations or promotions.
Smart performance indicators
Automation makes HR analytics a simple and one-step process for any business. Dashboards allow reports to be generated with a single click on employee performance across divisions, attrition rates, joining costs, training and development costs, average years in service and other indicators. Managers can also create custom reports by selecting their own parameters and the number of employees they wish to include in the results. Several software solutions also come with the option for readymade reports, such as Labor Law or statutory reports.
A major reason small businesses hesitate to use a HR management software is the perceived hassle involved in working with yet another tool. However, today’s automation options are designed to be highly user-friendly, can work across devices and are easily integrable with any existing softwares. At greytHR, we work with clients and supply them with the features they need the most, rather than a one-size-fits-all suite. What’s more, our payroll and leave management solutions come with 90-day onboarding support, backed by best-in-class customer service.
It is safe to say then, that a HR software can truly transform a HR department. At greytHR, our comprehensive range of cloud-based HR solutions and affordably priced plans help you with all of this and more, ensuring you have more time to focus on strategic decision-making and scalable business growth.