Human Resources Software:

A Human Resources Management System (HRMS) is a software application that combines many human resources functions, including benefits administration, payroll, recruiting and training, and performance analysis and review into one package.

HR management software has become an indispensable asset in almost every corporate environment. Even small and medium businesses are letting go of the idea that HR systems are the costly, fancy additions they don’t really need, as the long term gain of leveraging HR technology saves much beyond the limit of what they’d spend to get a product. The purpose of HR management software is to combine different human resource and administration processes in a centralized location, from where the manager can also assign tasks, monitor and evaluate progress, and reward the best performers in the team. Basically, HR software takes you a step ahead in improving decision making, and does so on a lite, competitive price.

Key Features of HR Software

• Core HR Personnel Tracking
• Time and Attendance
• Payroll
• Employee Self Service
• Benefits Administration
• Performance Review
• Applicant Tracking
• Employee Training Management

Benefits of HR Software

• Productivity - The most obvious benefit that Human Resource software can provide is in the realm of productivity within your HR department. Implementing HR software can automate a huge number of HR functions, most notably payroll and benefits administration. By doing so, you free up your HR workers to focus on other issues like attracting new hires and employee training strategies.
• Morale - A recent study found that in large companies as much as forty percent of any given day in an HR department was devoted to just benefits administration. A software that can handle automatic benefits administration allows your HR workers to not just move on to other issues as noted above, but also gives your non-HR employees the ability to manage their own benefits. This feeling that they're in control can help provide a boost of morale throughout your company and is a vital part of good HR software systems.
• Reduced Errors - Human error can result in serious complications both financial and legal. A misplaced decimal point could cause serious issues, but Human Resource software reduces the amount of error to a bare minimum. Human Resource software helps to automate the most common processes such as payroll information, and the automation the software provides helps keep everything working properly.
• Compliance - As mentioned above, errors can cost you. Large, small, and mid-sized companies must all comply with a number of state and federal laws and managing the information of your employees can be tricky. Human Resource software provides easy methods for managing all aspects of your business including compliance related information.
• Metrics - Businesses must constantly review information and devise strategies based on their own inner workings and their competition. HR software usually includes metrics tools that allow you to accurately gauge issues such as turnover rate and hiring costs. By implementing Human Resource software in your business you're giving yourself numerous tools that can be used to devise business strategies.