In today’s world, businesses rely on software to optimise operations and save on costs wherever possible. Like many other companies, you may already utilise software across your business’ sales, marketing, and accounting departments. But what about your HR department?
HR software isn’t as expensive an investment as most people think it is, and could save your business valuable time and money. Every company’s requirements for this kind of software is unique and you may find a provider that caters directly to your sector. Generally speaking, HR software will allow you to effectively manage payroll, benefits, attendance records, and timestamps.
No matter how efficient your HR department is, there are always improvements to be made. So, take a look at our 5 reasons why you should consider HR software for your business to know more.
You’ll save on costs
It’s a common misconception that HR performance management software will be a huge financial investment. There are lots of different ways you can invest in leading HR software platforms, such as affordable financing programs and monthly memberships. Developers are looking to get you on board, not turn you away. Unsurprisingly, this is the same for startups and multinational companies.
However, this is only saving on the actual cost of the software. The real savings come because of increased employee retention. Multiple studies suggest that when hiring someone new, your company may have to spend up to 213% of an average employee’s annual salary. Having the right HR management software in place will allow you to deal with employees’ need more easily – giving them less of a reason to look for work elsewhere.
Valuable data won’t be overlooked
If your company is still using a paper system or an antiquated software platform, you may find yourself overlooking valuable data. With so much important data being funneled through your HR department, it makes sense to have software in place to manage this.
State-of-the-art HR performance management software will make data based decision making easy, as everything will be readily accessible to you. You won’t have to worry about misplaced data as your software will retain everything safely. This means you can make strategic decisions without having to worry about overlooking something important.
Cloud HR software is now widely available
You’ve probably heard that HR management software is normally available on computer desktops and located onsite. This kind of setup has certainly been industry standard for a very long time and there’s nothing wrong with it. Many tried and tested HR software platforms still take care of all that’s demanded of them, but they there are some limitations.
With the internet age firmly established, cloud based software platforms are becoming far more common. A cloud based HR software platform allows your employees to have access wherever they may be. This means your team can fulfill their duties while on business trips and through mobile devices. In addition to this, cloud HR software often proves itself to be an extremely secure way to store your data.
Productivity and time-saving
It’s no secret that HR departments have a huge amount of work to deal with on a daily basis. Whether it’s handling employee payroll, inputting data, assessing candidates, dealing with new employees, or making phone calls, HR’s time is valuable and limited. Thankfully, this is where HR software can make a big difference to your company.
HR performance management software can cut down the time dedicated to your company’s recruitment process, training programs, and evaluations, as well as providing a self-service facility for employees find out information themselves.
But, an often-overlooked advantage of HR management software is that you can connect different departments together, such as accounting and HR. This is possible as many software providers have inbuilt functionality to allow for connection between HR software and external software. Connecting your departments together in this way gives you a vastly improved position when making important managerial decisions.
HR management software is scalable
Whatever size your business may be, future growth is probably high on your agenda. Due to your business requirements changing as your business grows, the last thing you want to do is invest in a platform that will eventually become redundant. This isn’t just to do with your financial investment in a HR platform, it also takes a huge amount of time to train your employees to use a new one.
It’s crucial that you thoroughly investigate the capabilities of any HR performance management software you may be interested in. Any good platform will cater to the needs of your company precisely and be able to scale up as your business grows. Thankfully, many cloud based platforms allow you to access additional features as and when you need them.
While you can find HR management software that suits the unique needs of your company, having professional help can make a huge difference. At Saxons, we assist companies across Australia by helping them establish IT systems they really need. To learn more about how we can help your business, head to our IT Solutions page. Or, check out some of our other great HR blogs now.