Best HR management software tasks can really be stressful at times. Especially in larger organisations where employees are located in different parts of the country, or even located abroad. But, why should it be stressful? Use of technology in HR can alleviate all your woes by solutions like artificial intelligence in HR systems.
Need for Payroll Management & HR Management System
HR job is all about bonding with employees with regular engagement and interaction to ensure that they perform their duties in a very congenial environment. It is true that HR’s performance is measured by employee satisfaction rating and levels of attrition.
Another aspect of HR is of administrative duties, documentation, benefits management and record retention. This is where the real stress is. Timely payments, statutory compliances, issuance of letters, audits and inspection, employee data updation, reporting & MIS, accounting, etc are all a part of the tasks that need to be managed accurately & on a timely basis.
Use of Technology in HR
Technology in HR is so advanced in the recent past that the above-mentioned tasks can be managed easily. Smart HR management systems are interlinking people to HR tasks in such a subtle way that these tasks which HR was hitherto performing, are smartly being ‘outsourced’ and how.
The global human resource technology market is expected to exhibit a double-digit growth from 2020 to 2025.
Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025
Let us review a scenario where an organisation is in process of hiring employees for a project. It begins with the talent acquisition team uploading job description on their portal. Eligible candidates will post their resume in the portal with their educational and professional data. Artificial intelligence in HR systems takes over to scan these bits of data & shortlists candidates. Recruiters will receive automated mails of shortlisted candidates and schedule interviews along with hiring managers. Compensation of the new joiners are aligned automatically to wage charts pre-set by C&B teams, depending on the level / skill / designation.
Artificial intelligence in HR software systems will suggest the appropriate wage scale for each candidate. Once candidates are hired, onboarding portal allows them to upload any other personal, statutory and banking data. Payroll receives the employee data as well as compensation data automatically into their Payroll Management system for further processing. Leave & attendance modules are activated for the employees depending on their dates of joining. New joiners will automatically get enrolled for other benefits such as medical and gratuity schemes of the company.
Employee self service portals will help employees to submit their reimbursement or allowance claims for payroll team to process. They will also be able to review their payslips or tax forms online. Also, they will be able to submit their tax declarations or submit proof of investments for tax exemptions at end of the financial year.
Statutory compliances are taken care of automatically by securely linking hr management system with external websites belonging to government and/or banks or internal systems such as accounting and attendance modules. Reports & MIS can be scheduled to pick relevant data and distribute it to authorised personnel in the organisation on a timely manner.
In a Nutshell
Most of the critical tasks performed by stakeholders can be automated to make the process in HR management systems effective in terms of time, cost & effort using an HRMS software. This includes employing an efficient payroll management and HR management system that facilitates employee self-service portal for the workforce.
Level Up Your Game with greytHR
For many years, HR & Payroll software like greytHR have been in this industry to provide the right solution that you are looking for your small business. It helps you process accurate Payroll every month, but it also comes with in-built statutory compliance, expense management, leave, and attendance management modules.
Check out greytHR payroll software, smart and easy-to-use software built especially for small and medium businesses.
