Businesses that successfully adopt HR technology tools outperform those that don't. Here's how your HR team can take advantage of the...
Self-service and online-based HR solutions are becoming more commonplace as human resources managers and small business owners look for a way to provide their employees with accessible, valuable information while saving time on document, employee and culture management. From new hires forms to payroll changes and company policies, the paper work piling up on the desks of HR departments is nothing new. What is new are the software tools and technology at the disposal of human resources professionals. Often times, organizations that successfully adopt sophisticated HR technology tools outperform those that do not. Here's how your business and HR team can take advantage of the software options available.
Recruiting and Hiring
Employee management starts with candidate management. Recruiting and hiring the best is a focus for most businesses, if not all. Recruiting software can help your business streamline the candidate review and application process. This type of HR software ensures the application process is the same for every candidate and filters low-quality or inexperienced applicants so your business only sees the best. In one SHRM report, the organization notes that online recruiting can cut cycle times by 25%, and can reduce recruitment costs by more than $8,000 per hire-a 95% reduction (Tweet this stat!). When choosing a recruiting software solution, look for one that addresses your needs now and in the future. You want a scalable system that can grow with your business.
Employee and Document Management
While a company can't solely rely on software to communicate benefits, plans and other information to employees, an HR form or document management system can help your business streamline the onboarding and initial HR education of new hires. As policies change, employees need to be updated and aware of the changes. An e-learning system can help you onboard new employees, effectively communicate benefits or company policy changes, and address employee questions. Although this type of e-learning technology is not yet as widely adopted, nearly 60% of recently surveyed organizations indicated they have implemented e-learning or are planning to do so within the next year. While simple solutions may be more budget-friendly, you want a system that meets the needs of employees and managers to make each more efficient. A self-service application can help; nearly 90% of recently surveyed organizations indicated they had or were planning to implement one.
Payroll and Compensation
Staying on top of payroll and changing tax policies isn't an easy task. Small business owners who cut checks and process payroll by hand are sacrificing time and potentially risking lost profits due to errors. Most organizations use automated payroll processes and if your business isn't already, it's time you did. SHRM also noted a recent survey shows that 61% of organizations use e-compensation systems or plan to implement them in the next year (Tweet this stat!). An automated payroll system provides your business with easy access to salary and compensation information and costs. As you add more employees and develop a compensation system, your e-compensation software can help you ensure employees are paid appropriately.
HR professionals increasingly offer computer-based, self-service applications to their employees. Increased use of e-HR often leads to lower human resources costs, improved communication and delivery of HR, more employee participation in HR, and more strategic involvement by the HR staff. Online-based HR solutions can help your business manage recruiting, employees and all the necessary forms, and streamline HR management as a whole to make your business more efficient.
What HR solutions does your business use? Why?
(Title Stat: Study by Towers Perrin, Image Source: freedigitalphotos.net by suphakit73)