Buyer’s Guide for HR Management Software

What is HR Management Software?

HRMS Stands for a solution that assists organizations in:

• Tracking attendance
• Managing Performance Appraisals
• Payroll
• Workforce Management
• Team Management
• Leave Management, etc.

Businesses of all sizes can deploy HR & payroll management software to enhance productivity and employee engagement.

Who is it for?

A robust all-in-one HRMS can be used by the entire HR department. The combination of features are useful for anyone from a Recruitment manager to the Head of HR department or CHRO.

What advantages can you get out of HRMS?

Factors that you must consider before implementing an HR management software:

Here is a Peer-to-Peer survey of HR professionals on the factors they consider most to least important (on a scale of 1 to 10 while trying to evaluate an HR software for their organization.

We’d like to know your opinion too, please fill in your opinion here:

Choose the HRMS that best suits your business needs:

By Deployment Type

Choose which type of deployment will help you manage your HR infrastructure in the most efficient way.

On-Premise perpetual: In this on-site option, your organization will be responsible for deploying and maintaining the HR software on their internal hardware system and servers. They need to ensure the minimum system requirements are met before installation and setup. Typically used by Government agencies, companies with legacy systems, and having very high data sensitivity.

Software-as-a-service (cloud): Your organization and employees can directly access the HRMS software through their web browsers, and there is no need to install any software on your system or server. The cost & responsibility of maintenance, backup, and security will be under the software provider. Can be used by any type or size of organization.

By Capability:

You can either go for an all-in-one software or a software with individual use cases. You can take this decision based on your company type, budget, or whether you need all available solutions or just few features will suffice your business needs.

Software with Individual Solutions:

• Payroll Management Software to handle employee salaries, loans, advances, reimbursement claims
• Leave Management Software LMS to streamline applying & approval of leaves
• Applicant Tracking System to collect, sort, & analyze job applications
• Performance Management to evaluate the performance of employees and departments against pre-established or defined standards.
• Recruitment Management Software to help in posting jobs, resume screening, & keeping applicants up to date with hiring processes till final recruitment
• Attendance Management Software to keep track of work hours while an employee is in the office or offsite.
• Workforce Management Software to plan, manage, & track employee related work – from creating rosters & work schedules, issuing leave policies, & statutory compliant labor policies
• Benefits Administration to manage benefits such as medical insurance, retirement plans, life insurance & disability insurance. It ensures compliance & enables workers to enroll in the system.
• Learning Management to create training courses & development programs for employees. This provides quick access to all learning tools and knowledge sharing for improving employee performance at jobs.

What key features are right for your business?

Here is a Peer-to-Peer survey of HR professionals on the features they consider most to least important (on a scale of 1 to 10 while trying to evaluate an HR software for their organization.

We’d like to know your opinion too, please fill in your opinion here:

Features you should look out for in HRMS Software:

• Employee and HR Master Database Management: Includes medical history, leave management, PPF & EPF forms, grievance history, & other pertinent information. Through HRMS, HR managers can access an employee’s records that are considered relevant for the organization
• Time & Attendance Tracking: Track employee leave & attendance through the integration with fingerprint biometrics, face recognition, card swipes, etc. the manager can schedule shifts & attendance to improve cooperation between departments, & manage schedule.
• Payroll & Benefits Administration: Employee salary, benefits, overtime, loans, and advances can be managed seamlessly with an HR management solution. The software ensures complete accuracy in salary processing.
• Performance Management: Employee performance can be monitored and reviews can be shared in real-time with HR management software. Employees can access the self-appraisal form on the employee self-service portal to analyze their own performance. Their performance can be further reviewed by their manager and ratings and feedback can be shared online.
• Employee Document Management: Ensure that all data and information relevant to the company and employees are maintained and managed efficiently. Company documents entail legal documents, yearly holiday lists, business documents, company policies, benefits, and insurance-related information.
• Task Management: Execute and manage a project effectively & track its progress. With this, you can keep a track of project sheets, team management, execute task management, progress analysis, etc.
• Candidate Application Tracker: Record and store information of job applicants, and segregate which one to select, and which one to reject. Also, you can conduct an applicant’s background check and bring efficiency to the onboarding process.
• Events Management: Streamline daily tasks, comprise resource sharing, training schedules, reminders (employee birthdays, work anniversaries), a collaboration between departments, updates on events, and more. The HR events management solution has an in-built checklist to ensure that emails or alerts are sent out on time.
• Security and Safety: HR management software is available in two variants – on- premise and on the cloud. Both have their own advantages, though the cloud-based solution is more popular thanks to its regular security updates and monitoring of digital threats. Hosting data on the cloud offers greater protection as compared to on- premise software, as data transmission in the cloud happens in a more encrypted form which leads to greater security.
• Data Backup and Upgradation: Top HRMS software solution also offers flexibility and supports scalable IT architecture. The HRMS software features get updated directly from the server-side.
• Talent Management: Retaining employees in your organizations requires proper learning and growth strategies. HRMS solutions help assess an employee’s learning needs. Accordingly, managers can create the best learning management fill module.