Currently, with a population of 1.27 billion people, India is churning out more than 50% employable students every year. With the ever increasing working class, employability rate and requirements of companies and businesses are also witnessing a rise.
Small and medium enterprises to large scale multinationals are all the rage these days. If looked carefully, competition is stiffer than before. The industry is experiencing a revolution regarding the technology that makes the life of the HR easier. But the question is whether these enterprises are willing to let go of manual processes when there is better technology available to support the smooth functioning of the company?
The need to give away the manual functioning is to reduce the possibility of Human Error. It isn’t very motivating when there is an error in the paycheck by the end of the month. Even for the team, the rectification process becomes an even more tedious activity which compromises with the working hours.
What is the way out?
Well, the best way out is to replace the manual functioning with technological inventions. There is a wide-range of software that is perfectly tailored to meet the needs of growing businesses. A good blend of accurate, efficient and cost-effective features in a software ensures ease of functioning for an HR.
Some of the benefits/advantages offered by such software are:
Certain software comes with easy solutions that make employee management easier. Managing leaves, overtime, new hires and accounts of existing employees, all become easy in this software. They create a ready reckoner for the HR’s reference and management. It makes planning and execution easier.
In case the latest tax updates have been missed, software provides easy reminders which intimate the employees at equal intervals.
Software ensures that no data is released to a third party. The company will still consider using the own IT systems. However, a good software solution will ensure the security of the database.
While employees with large companies work with selected people, SME’s have a smaller strength which is working together. Coordination with colleagues outside their own department is common. HR software’s come with employee directory where all contact information is stored making it easier for employees to coordinate and contact each other.
Saves Time and Improves efficiency:
Manual entries in a journal/ledger take extra time and resources. Just the management requires another individual to coordinate and execute this process. Many software takes away the additional effort, reducing the working hours which can be utilised in business growth.