What is HR Software & Why Your Business Needs ItMenaItech
Human resource management software streamlines everything from benefits administration and applicant tracking to retaining and rewarding your top employees. With the innovative HR software, your company can increase productivity, reduce costs, increase efficiencies, reduce redundancies, and increase profits.
HRM Software in a Nutshell
Generally speaking, human resource management software deals with an organization’s most critical asset – its people.
In the past, HR software was viewed as administrative support for HR professionals. However, today these innovative software solutions are now adopted by both employees and managers.
Depending on your specific organizational needs, HR software has many different applications.
HR software can be used to:
- Promote talent scouting
- Recruit possible applicants
- Manage employee benefits, administration and payroll
- Oversee performance reviews
- Empower employees to expand their skills through internal job opportunities and training opportunities
- Streamline onboarding for new employees
- Facilitate collaboration through social media
- And much more
Categories of HRM Software Tools
While HRM software can be completely customized to meet the needs of your business, software generally falls into three principal categories.
Core tools are one of the most essential elements of HR software. They form the foundation of your software program and account for the minimum requirements necessary to run any corporate HR function.
Core tools include:
- Benefits administration – compensation plans, employee healthcare (i.e. dental/medical), life insurance policies, sick leave, vacation time, etc.
- Payroll – employee salaries, bonuses, and benefits packages (i.e. stocks, bonds, etc.). Additionally, payroll functions can factor in deductions for healthcare and other employee-contributed programs, calculate withholding for taxes, and provides access for direct deposit.
- Employee records – is typically a database which contains a record of employee personal information (such as address, email, phone number, marital status, etc.), employment record and related legal forms, and other important documents.
- Time, attendance, and scheduling – allows staff to schedule work, and to track time and attendance.
Talent Management Tools
TM tools enhance core HR tools with software that empowers businesses to internally develop their employees. From applicant tracking and recruitment to training and performance management, TM tools are essential to streamlining HR systems.
TM tools include:
- Recruiting – manages candidate tracking by storing applications and candidate data. Additionally, this software can integrate with other HR applications and has the ability to conduct background checks.
- Training and development – training software provides an access portal for employees, managers, and instructors. Additionally, training software can track new and existing employee training and skills development.
- Performance management – records and tracks employee performance reviews, and includes tools for performance measurement and goal tracking.
- Compensation management – optimizes compensation systems by rewarding top performers with incentives or bonuses based on performance.
Employee Engagement Tools
Engagement tools flatten communications across potential organizational stovepipes and empowers your firm’s employees to collaborate. Additionally, employee engagement tools provide access to self-service HR portals, which involves employees, allowing them to self-enroll in training programs, search job openings, manage their time and attendance, review company policies, and much more.
Employee management tools typically include mobile access. This provides employees with the ability to communicate across the company regardless of their physical location. With mobile access, employees flatten communications and create shared understanding from the complex to routine company projects.
Moreover, mobile access to HR lets employees check their benefits, paycheck records, request time off, and enroll in training programs. All from their smart devices!
The right innovative HR solutions can help you on your path to bridging the skills gap within your company. MenaHR® is MenaITech’s flagship HR software solution and is the most comprehensive and powerful localized HR platform. Designed specifically for HR departments to improve efficiency, MenaHR® also increases employee and managerial productivity. Our full-suite system covers all core HR functions and extends to training and development and much more.
If you’re interested in empowering your employees and HR managers with the tools they need to thrive, we’d love to help. Contact a member of our team to learn more.
We look forward to working with you.