What Businesses Need to Know About HR Software
What is HR Software?
Human resources software helps with managing people, information, and processes. HR software is designed to assist both managers and employees to work more efficiently while decreasing errors, ensuring compliance, and growing productivity.
Types of HR Software
Human Resources Information Systems (HRIS)
HRIS is a software for the data entry, data tracking, and data management needs of HR departments. Some common features of HRIS software include employee profile database, salary and performance information, employee self-service portal where employees can manage their information, view payroll documents and requests for leaves, recruitment tools, attendance tracking, and payroll functionality.
Human Capital Management (HCM)
HRIS software tends to focus on the everyday management of employees, whereas HCM software includes more specialized tools for employees planning and analysis. An HCM system will offer features such as reporting and data visualization and predictive HR analytics to assist in planning for future challenges.
Employee Document Management Software
An employee document management system effortlessly manages all aspects of employee files and adds significant security and compliance functionality that is missing in most other software. Systems integrate with a company’s HRIS or HCM and store all documents in the cloud which makes it easy to access files anytime, anywhere.
Applicant Tracking Systems (ATS)
An ATS is a type of specialized software that assists HR managers in recruitment. Also, an ATS can help with job postings and track candidates throughout the hiring process.
Payroll Software
Payroll software automates the compensation process. These applications generate employee checks, initiate direct deposits, calculate taxes, make deductions, and maintain payment records. Most programs have functions that allow management to monitor attendance, time, and pay structure.
Benefits of HR Software
Reduced Administrative Tasks
Most of the mundane paperwork is taken care of by this software. With decreased paperwork and streamlined processes, HR professionals can focus on doing what they do best: recruiting top talent, developing training programs, and improving company culture.
Improved Compliance
With changing state and federal laws, maintaining paperwork is nearly impossible. From I-9 forms to healthcare documents, HR software allows employers to easily store, share, and manage employee files. Built-in tools monitor soon-to-expire documents and certifications, which means you’re always audit-ready.
Secured Data
HR departments are responsible for a huge amount of highly confidential employee data. It’s important to implement data protection policies. They maximize security, allowing companies to safely share documents and control who has access to files.
