How HRMS system can save you from committing a Billion-dollar mistake?
The frontline – HR department is always under pressure. From recruiting best talents to managing teams in wake of pandemic. For any organisational need, HR is the first to act.
So, this makes it clear that HR is of the most important part of business. Any error or inefficiency could create a great impact on productivity or operations. Mistakes at HR department and their functioning can cut deep into business owner’s pockets. Say about billions!
Don’t believe? Well, the penalty is not just of one day. Adding up several other miscalculations and extra HR costs builds up to a huge amount through years. It is a summation of errors at department!
Before understanding the biggest problems and error-prone areas of HR, lets start with their challenges.
Here are few major responsibilities of HR department:
- Talent hiring
- Ensuring workflows
- CSR activities
- Onboarding recruits
- Training and engagement
- Workforce handling
- Employee experience
- Workplace activities
- Monthly payroll
And much more…
With nearly never-ending challenges and duties of an HR manager, the department is very prone to committing costly mistakes.
How do you think an HRMS system could save you from billion-dollar mistake?
HR often fails due to unsuccessful planning pre-recruitment or onboarding. this leads to candidates leaving amidst recruitment or after couple of months of onboarding.
Long and old-school hiring process and unorganised training procedure can make you pay the unwanted hiring costs and suffer employee turnover. On the other hand, a dedicated HR software can help you create hiring templates easily. No time consumption or expense. Scheduling interview becomes a lot easier with an online HR software.
HR people can easily track recruitment cycle through an integrated ATS (Applicant tracking system) with HRMS system. the software helps you curb down hiring costs and on-boarding difficulties.
Intuitive features of HRMS software lets you plan a helpful training process at the earliest. Automated HR solution makes the progress tracking simple.
Besides the onboarding and training of an employee, managing employee data manually with a dependency on offline documents and spreadsheets. Believe me, data loss or security breach could be the most fatal thing to occur with any organisation.
A cloud based HRMS system assists you with data backups and cloud-security. It also provides flexibility at operations and data access. Irrespective of your location, data is at your fingertips, always!
Even a small number if lost, can drill your finance. New age solution like HRMS system helps you keep everything on track and automates mundane and critical calculations. It prevents you from committing costly errors!
Another major critical area is payroll management. Committing payroll without an assistance can be huge on penalties and miscalculations. Automated solution like HR software with an integrated payroll management module can help you with easy management of payroll parameters like deductions and reimbursements for employees.
Compliance management and handling payroll amendments should be avoided bare handed to keep errors at bay. Fines and penalties are no shoestring sized from the IRS. HRMS with its dedicated module can solve payroll concerns all at once and streamlines activities.
What’s in the lesson?
Proper functioning that includes smooth communication and legalities are very crucial for any organisation. Keeping away from unwanted errors can save you money and time.
Look for right HR software and management solutions to keep up with the compliances and regulations. HR system holds lot many advantages and benefits to enterprise. Think no more! Subscribe for an HRMS!
Ritik Singh writes about HR (Human Resource) software, cloud, and enterprise technology. A dynamic content writer who writes for Pocket HRMS, a leading provider of cloud-based HR software with inbuilt AI-powered HR Chatbot (smHRty) to small and mid-sized businesses across India.