It’s 2021 and if you are managing your HR tasks without an HRMS, we must say you are doing something very backdated! Nearly all organizations regardless of size and type are enabling a digital approach when it comes to doing human resource management. Whether you are running a startup or an industry giant organization, you need human resource management software for sure. The market is filled with lots of options and you need to choose the best one according to your requirements. When it comes to choosing the best HR management software solution, most people forget to check for HR metrics and analytics. You should never do that!
HR metrics and analytics are key components that you should check while choosing human resource management software to equip your organization. But before that, you need to understand how an HRMS can completely transform the HR practices in your organization.
Benefits of enabling a human resource management software system
Proper utilization of your HR team’s time- Modern HRMS solutions come with the benefit of automating each time-consuming HR task of an organization. If you are following a pen and paper-based human resource management process, you know well how much time your HR executives need to spend on these tasks regularly. At every month’s end, their tasks become double and they do not get enough time to concentrate on other important areas of your organization.
But if you enable an HR management software solution, you will be able to automate nearly everything. From attendance management to error-free payroll management, you will be able to do everything without taking much time with HR software. Thus, your HR team will have sufficient time to concentrate on other growth areas of your organization.
Unique requirement satisfaction- Every organization is different. The requirements you have that your competitor may not have or vice versa. You should equip your organization with a robust solution that can satisfy all your unique requirements at the best level. With HRM software, you will be able to customize leave rules, company terms and conditions, shift rules, tax deduction rules, and craft a proper salary structure for all your employees.
All these tasks will be done within minutes and there will be no error. In this way, you will be able to set better company culture and work environment for all your employees.
HR metrics and analytics for better decision-making- Your decision-making procedure needs to be fast as well as effective. When it comes to running an organization and ensuring its constant growth, you need to make effective decisions every hour. Here is no place for guessing games. So, you need to make data-driven decisions. To make data-driven decisions fast, HR metrics and analytics in an HRMS will help you at the best level.
From proving your HR reports with graphical views to recording confidential data, everything you will get via the HR management system software. Here, you will get reports on tax payments, payout disbursed, employee performance, and so many other things that you need to check to make effective growth decisions.
Proper data security and easy accessibility- If you are still following the traditional way of storing data, we must say you are risking the security of your organizational data. Along with this, to find a data set, your HR executives have to go through file cabinets and spend a lot of time. You can leave all these practices behind and store all your organizational data with super security if you enable an HRMS.
Cloud-based HRM solutions like HRMWARE let you save lots of important data with proper security. And the best fact is that allowed people can access those data based on the requirements. All data will be password protected and people with the right user id and password will be able to access data.
Proper leave and attendance tracking- Humans are prone to error. If you try to track employee attendance manually, you are making your organization vulnerable to the improper marking of attendance. Improper attendance tracking, as well as leave, can affect your payroll management. In this way, you can overpay or underpay your employees. Payroll errors is not a good thing as it can drag you to the court.
So, it will be better if you go for an HRMS that comes with attendance and leave management system. In this way, no error will take place and you will be able to perform proper payroll and appreciate the real talents of your organization.
Error-free payroll management- Performing payroll is an every-month job and a small error in it can ruin the entire setting. It is also known as one of the most important functions of your company as it deals with your employee payouts. To have error-free payroll, you should also require correct attendance and leave tracking features otherwise it can result in wrong calculations and you may fail to comply with statutory guidelines. Failing to comply with statutory guidelines may result in hefty fines.
All such risks you can easily eliminate from your payroll practices if you equip your HR team with robust human resource management software. The payroll management feature will help in salary calculation to payslip generation and there will be no error. Just by spending a few minutes, your HR team will be able to complete the entire payroll tasks and save a lot of time.
You can get all these benefits only when you will choose a leading software solution like HRMWARE. This human resource management software solution comes with all the features as well as benefits a modern HRM software solution should have.
After enabling such a system software, the first feature you will encounter is the dashboard. We have seen that many people do not give that much value to this option or feature. But it has many benefits to offer you, especially it will help you in quick decision-making for your organization.
There are some HR metrics and analytics a dashboard should have. Below, we are going to discuss top HR metrics so that while choosing your HR solution, you do not miss anything to consider.
HR dashboard metrics an HRMS should have
- An attendance update- Your organization may have 50 employees. For your HR executive, it is not possible to track each employee within a short period to check how many employees are present and absent in the day. The attendance update metric will show how many employees are present on that day. If one or more employees are absent on that day without any prior notice, your HR will be able to communicate with them and keep your production level up to the mark. HRMWARE has the same HR metric and it shows an entire list of present and absent employees. This quick list also helps the HR or employer to quickly check the total performance hours of each employee.
- Upcoming leave- This metric is there to let you quickly know which employees are going to be on leave in the coming days. Leave management is an important thing as it is directly related to your production level. This option will take you on the list of leaves applied by your employees. From leave reason to leave type- you will be able to track everything via this option and make quick decisions to keep your production level at the best level.
- Upcoming holidays- This is like an organizational calendar that you can access at any time based on the requirement. The HR or the employer will be able to plan production according to the available working days.
- Pending leaves- There will be some leaves applied by your employees that the HR/Employer hasn’t approved or rejected. Each day, you will get some leave applications that you need to approve or reject. From the list, you will be able to quickly take action. We can say that this option or analytic is going to also work as a reminder. When the HR or the employer gets time, he/she will be able to approve or reject leaves. You need to focus on these leaves while doing payroll on the month day. So, from the list, you can get a quick view and enable the changes you want to make on automated payout calculation and payslips.
- Attendance summary report- The attendance reports help at a great level when an organization tries to do performance management properly. This report shows the summary of attendance of your employees in an easy-to-understand way. It will help you in understanding when you have the best attendance level to support your performance requirement along with when your organization has the lowest attendance of employees. Such a report always helps in designing the effective performance management strategy of an organization.
If you notice that in a particular month or at a particular time in every month, you have the lowest attendance of your employees, you need to analyze the reason for their absenteeism. Why your workforce cannot be at their best at those specific times, you have to analyze and understand that. It will help you in bringing consistency to your organizational performance. Along with this, you also need to understand when you get maximum attendance and why. It will also help you in understanding what drives most of your employees to be present at work.
- Organizational news & tips- A lot of organizations face difficulties when it comes to delivering an official notification to all teams and members. Generally, HR executives need to send emails to all departments and wait to get confirmation. In such a way, there is a high chance of a communication gap as it will be impossible for you to check if each of your employees is notified or not. Miscommunication, communication gap, and confusion can take place if you are still following such an old-school practice.
But if you have enabled HRMWARE, there will be no such chance. The ‘organizational news and tips’ sections will help you in notifying each of your employees in no time. Such amazing HR metrics and analytics are present in the dashboard of this human resource management system. With the help of such a feature, you can craft organizational notices instantly and send them to all of your employees. It will also help you check how many employees are notified and who are yet to view the notification in detail. You will be able to understand who is truly notified and there will be fewer chances of communication gap and miscommunication.
- Salary report- Salary management and expense management are important things when it comes to ensuring the growth of your business organization. The manual process of expense management may include errors and that will surely affect the growth strategy of your organization. Apart from this, preparing an expense as well as salary management report manually is tough. Here also errors can take place and affect the overall growth of your organization. And that’s why we suggest going for an HRMS solution that comes with HR metrics and analytics like this salary report option.
This feature or metric is helping an organization in doing proper salary and expense management. The employer or any other decision-maker will be able to get a quick view of expenses via this report and decide the next effective step. This report will be generated automatically. To prepare such a report manually, you have to spend a lot of time and you cannot guarantee that there will be no error.
So, now it is clear that when it comes to choosing an HRMS solution that offers maximum benefit, you should go for an option that comes with these HR metrics or HR dashboard metrics. If your chosen software solution has all these features, congratulations, you have found a gem and you are all set to grow faster. HRMWARE is rich with all these HR metrics and choosing it will not be a wrong decision by any sized organization.