Top 10 Must-Have Features in Modern HRMS Software

We live in a world completely swallowed by information, automation and advanced technology. Every day tons of money is invested for advancements. Take a company for example, the way companies were run 15 years ago and how it is functioning now are completely different. And who's the main culprit? Advanced technology.

In this highly digitized world, where almost everything is instantaneous and a click away from access, it's only natural for software to take over the HR department.

But What is HRMS?

HRMS is a sophisticated software system designed to automate and streamline various HR related tasks. HRMS integrates multiple HR modules, data and processes into a centralized platform, enabling efficient management of employee information, payroll process, recruitment, performance evaluation, training, employee benefits, and compliance laws.

Why is HRMS Important ?

HRMS enhances efficiency and productivity by automating tasks such as payroll processing, recruitment, and application tracking. This automation reduces manual labor allowing HR professionals to focus on the strategic HR initiatives. The

Automated calculations and record keeping within HRMS ensure high accuracy leading to better decision making. Additionally HRMS results in significant cost savings by reducing labor, administrative overheads and reliance on paper based processes.

Here are 10 must have features in modern HRMS software:

1. Recruitment and Hiring: HRMS facilitate in gathering, screening and hiring different talents from different backgrounds to fill the gaps in the organization. The applicant tracking process, resume screening and many other processes are automated resulting in a swift recruitment procedure enabling employees to save time and costs.

2. Employee record Keeping: HRMS is designed to store, organize and maintain employee data. Various information like personal data, positions, qualifications, bank details, insurance, employee benefits, salaries etc., are easily retrieved and provided access only to authorized personnel.

3. Payroll Processing: HRMS has a dedicated module for payroll processing for calculation and disbursements of employee salaries, wages, bonuses and deductions. HRMS has also streamlined the payroll process to comply with tax regulations, labor laws and other regulatory restrictions alongside reducing errors that were previously associated with paper based calculations.

4. Workflow automation: By leveraging automation, repetitive and time consuming tasks like payroll processing, employee onboarding, performance evaluations are all efficiently managed with little to no human intervention which allows HR professionals to focus on the strategic initiatives like succession strategies.

5. Hours worked and leave entitlements: This feature allows employees to view their leave balances, submit requests for time off which are reviewed by the managers. HRMS can track the employee work hours, monitor attendance and manage leave requests easily.

6. Performance evaluation : HRMS enables to smoothly examine and evaluate the performance of the employees. By setting goals, providing feedback and tracking feedback , evaluation of employees goes seamlessly with greater transparency and efficiency.

7. Benefits management: While employees get easy access to information about their benefits, like health insurance, retirement plans, and other perks, employers can smoothly administrate tasks such as enrollment, eligibility verification, and reporting, reducing manual errors and ensuring compliance with regulations ultimately contributing to a better, more productive workforce.

8. Employee Training: HRMS proves its competency by helping employers to identify training needs, scheduling sessions, tracking attendance, and evaluating performance. This approach not only saves time and resources but also allows for better monitoring of employee development.

9. Retention: with HRMS, employee turnover rates can now be efficiently tracked. You can Analysing data on employee tenure, performance, satisfaction and a bunch of other factors with the help of HRMS trend and pattern recognition capabilities with which professionals can be compelled to make data driven decisions.

10. Analytics and Data: Analytical capabilities of HRMS is immensely powerful, helping organizations to efficiently collect, analyze, and interpret large volumes of HR-related data to arrive at actionable insights related to talent acquisition, workforce planning, performance evaluation, retention and so on.

WRAP UP

HRMS is a godsend for the people who use it as it eliminates the forced reliance on paper and traditional way of how HRMS worked. Automation has greatly reduced time consumption, smoothed out the harsh retrieval process from individual cardboard files, and greatly impacted the way HR works.

Get in touch with People works for some amazing HRMS and Payroll software solutions.