Why Small Businesses Need HRMS Software in 2020?
From the global pandemic, COVID-19, to the economic crisis, 2020 has undoubtedly been one of the toughest years we have ever faced. Countries across the globe are trying to withstand the current settings and India is no exception. To follow social-distancing mandates, every sector in our country has adapted to a new normal, i.e., Work From Home (WFH). In a time like this, even well-established businesses are tackling a host of challenges carrying out their routine tasks and processes.
Benefits of HRMS Software for SME
Talking about small businesses, they are tremendously disrupting. Truth be told, the whole model of small businesses has been significantly changed. Fortunately, these businesses have had a potential solution for all their challenges, which is HRMS.
Do you know, if written in Chinese, the word ‘crisis’ is of two characters; one represents danger and the other symbolizes opportunity. Human resources management software is surely the opportunity for small businesses to sustain their hardships during this difficult time. Let’s take a look at some top reasons why every small business in India should invest in HRMS:
It improves payroll management
Payroll management is one of the cumbersome yet crucial human resources operations. HR managers spend long hours, even days, to carry out this routine process. But manual methods of payroll processing are acutely slow and inefficient. Also, humans are prone to making mistakes no matter what tools they use. And, the cost of payroll error is big, which affects the business in the long run.
This is when HRMS comes into play! Such systems simplify the whole payroll process. It does not just assist the HRs but also ensures zero error along the way. Using one of the top-notch HRMS software India has, small businesses can now manage payroll data, calculate salaries, and transfer them to every employee in a few clicks.
It enhances the recruitment process
Gone are the days, when hiring new employees was a long and complicated process. HRMS has now digitized recruitment and made it more employee-centric. This indeed attracts the best candidates to companies, even during this tough time.
Such software can be simply integrated into several job portals and social media platforms. Besides, it provides exceptional support to the HR team in numerous tasks including candidate-sourcing, screening, interviewing, and much more. It cuts down paperwork that makes it easier for HRs to pick ideal candidates from a pool of applications.
It offers self-service benefits
In this time of crisis, HRs are acting as the frontliners of every business. Amid all this chaos, it often becomes challenging for HRs to solve every employee issue/doubt. Fortunately, HRMS provides autonomy for employees.
They can view, understand, and even edit their data. That means no employee will have to disturb HR to know his/her to leave balance or get his/her payslip. Employee-self service features not just empower employees but also save a large chunk of time for HRs that can be utilized in other productive functions.
It promotes effective communication
Communicating and collaborating are also equally important, particularly while working remotely. Need to mention, a lack of communication can lead to organizational issues such as unproductivity, employee disengagement, miscommunication, and much more.
Now, all a small business needs to do is implementing one of the best HRMS software India has. The software will not only allow employees to stay connected but also communicate from different locations.
It increases legislation compliance
Although small businesses are exempted from several laws, some regulations should be followed at all times. The consequence of not complying with legal requirements can be huge for small companies. So, it is necessary to have a tab on changing tax slabs, and other amendments.
Unlike traditional tools, human resource management software updates new laws automatically and notifies HRs about the same. When software will timely do everything on its own, no employer will have to worry about fines and lawsuits due to non-compliance.
It boosts overall productivity
Working on spreadsheets and other traditional tools is both inefficient and error-prone. This is one of the main reasons why the majority of the Indian small businesses have turned around and become innovative with their methods. The whole business world owes a thank you to HRMS for reducing administrative burden and increasing efficiency.
HRMS software streamlines every complex task that took hours/days to complete earlier. Also, as mentioned before, features such as employee self-service help the workforce to a great extent, too.
Most importantly, such software cuts down paperwork that usually wastes precious time of most HRs; however, not anymore. From data management to the offboarding process of employees, HR professionals just have to command, the rest software will do anytime, anywhere.
We hope now you understand why every small business needs HRMS, particularly this year. Also, if a small business wants to acquire all the benefits mentioned above, it is very important to end up with the best HRMS software India has. Once you have the best system in place, the growth and profitability of your business are guaranteed.