Today, it’s more important than ever for companies to leverage software solutions to streamline daily operations. The right software can help with everything from enhancing efficiency when it comes to payroll, improving employee engagement, and everything in between.
And while all departments can benefit from these solutions, software for HR is especially essential today. Read on to learn more about HR management software and how it can benefit your organization.
What is HR Software?
First things first, you may be wondering what exactly HR software entails. Essentially, HR solutions (sometimes called human resources information systems HRIS) of this nature can help your human resources department manage and optimize its daily tasks.
Think of everything HR teams are tasked to do, especially in light of the COVID-19 pandemic. From the hiring process and general employee management to tracking performance and payroll, there’s likely a software solution that can improve these workflows.
For example, HR software solutions can help with:
- Payroll processing
- Recruiting and hiring new employees
- Employee engagement
- Document storage & maintaining employee records
- Performance management
- Compliance reporting
- And more
No matter if you operate a small business or a large organization, HR software can benefit HR professionals with their daily responsibilities.
Benefits of HR Software
While it’s clear that HR management software can help with a variety of functions, there are also specific examples of how it can benefit your organization. Here are just a handful:
1. Improve Productivity
Employee engagement and productivity are closely tied. Studies have shown that an engaged workforce is better overall, and can increase innovation, productivity, and profitability while reducing costs related to hiring and retention.
It’s often HR’s responsibility to monitor and improve employee engagement through surveys and new initiatives. The best HR software allows you to move team communication online for real-time connections, as well as implement several employee engagement tools to help develop high-performing teams and retain your top talent.
2. Enhance Compliance Reporting
Compliance reporting is another essential component of HR, however, it can also be very complicated and time consuming. Essentially, HR compliance is about adhering to all applicable labor laws. These can vary depending on the size of your organization and the state(s) where it operates.
As you can imagine, HR must not only create a company culture around integrity but must also manage a lot of paperwork. The right HR solutions can help you manage forms and avoid penalties all while streamlining the process online.
3. Invest in Employee Development
HR software can also be a beneficial tool for employee development. For instance, AllianceHCM’s Learning Management System (LMS) solution for employee training provides online courses designed specifically for your organization to more effectively train on new skills, policies, products, and any other topic important to you.
This is a great way to streamline training new employees and to build a company culture. At the same time, employee development can also be a part of a strong employee retention strategy.
4. Cost Savings
The best HR software solutions ultimately save your company time and money. While it can be difficult to determine the exact ROI of a solution, by some estimates it can save you hundreds of dollars a month and thousands of dollars every year.
Of course, there are also intangible cost savings. Improved productivity and reduced employee turnover all improve your company’s bottom line.
5. Simplify Benefits Administration
Finally, we can’t overlook the importance of HR software when it comes to benefits administration. The right solution can help HR professionals plan and administer competitive benefits packages, as well as seamlessly integrate with HR and Payroll to reduce costs and minimize risk.
Benefits administration is often a complex process, but HR software can make it easier. Not only is this beneficial for your team, but it can also improve employee satisfaction since they’re receiving the correct benefits quickly.
AllianceHCM HR Solutions
Of course, not all HR software companies create the right solutions for your needs. When you want a solution that can do it all, you can trust AllianceHCM.
AllianceHCM’s complete Human Resources solution offers a unique combination of employee collaboration and traditional workforce management, enabling managers and employees to more easily access and update their information in real-time. The cloud-based solution and easy-to-use mobile app make it a breeze to track performance, manage payroll, and more.
Schedule a free demo today to see for yourself how the best HR software can benefit your company.