Top 15 Features of A Human Resource Management System: An Absolute Definition of HRM Software!!!
Are you excited to know about the features of the human resource management system? HR software is one of the crucial parts of any business. Without any HRM system, your business will not last long, and you can not sustain the world market. So, you have already realized why I am telling it the crucial part of your business. It's an undeniable and usual thing to look for features of human resource management software before picking up any HRM system.
Keeping in mind your needs and demands, I have written this article. Here, I will explain the top 15 features of a human resource management information system. You will understand the main objective of effective human resource management. So, I don't want to waste any more time. Let's start the central part of this article.
The Human resource management system refers to an automated process that can be able to manage the entire workforce, recruitment activities, payroll management, employee training, performance evaluation, and so many other things. HR professionals can manage these activities through a computerized system called human resource management software.
Moreover, the HR management software is also called a human resource information system (HRIS) or human capital management (HCM). So, the HR software can manage your business activities and deal with the manpower of your organization; that's why it is a part of business management software.
Before going to the features of the human resource management system, I have explained briefly the definition of an HR management system that will be very helpful to realize the entire human resource management system.
There are numerous responsibilities that can perform only the HR professionals, and they always endeavor to achieve the company's success. From the recruitment process to hiring, training, and development, all the activities are ensured in the HR department. Now, I would like to emphasize some major objectives of human resource management.
One of the major objectives of the HR department is to ensure employee satisfaction. Moreover, human resource management makes sure several kinds of employee facilities such as benefits management, insurance system, leave management, compliance management, and more. HR management systems can be able to ensure such kinds of aspects smoothly and automatically. So, HR professionals need to adapt the best HRMS software.
The HR department can handle the entire workforce of any organization. Human resource management systems can provide an employee self-service portal (ESS) that will ensure increased productivity. Through the employee self-service portal, employees can submit their leave requests and apply it for approval.
Also, the employee self-service portal can be able to generate payslips, provide notifications for holidays, manage details, and more. So, this automation system can reduce HR interaction and manage the workforce efficiently.
Fulfill Organizational Goals
HR management systems play an essential role in achieving organizational goals. It can be able to handle the workforce, manage training and development, employee settlement, payroll management, and more. To perform these activities with automated software, the HR department can enhance employee experience that will enrich employee performance. As a consequence, the organization can achieve its targeted revenue within a very short period.
A proper working environment is a key component for increasing productivity. The HR department can ensure to provide a better working environment to the employees. Without being the perfect environment, the employee's attention will be diverted from their work; consequently, productivity will be decreased.
Also, the human resource management system provides enough transparency of all activities such as timesheet maintenance, data management, and so on. So, the best HR management software plays a crucial role in building an absolute working environment.
Motivation and consultancy often play an effective role in speeding up the work of employees. Moreover, the HR department can be able to evaluate the performance of employees through the human resource management software. Also, the HR professionals can organize monthly meetings to take any suggestions as well as to make any decision for any situation. These activities will motivate the employees to give the best level in their work.
There is a lot of human resource management software available, but all of them may not be perfect for your business. For that reason, you need to have a clear concept of the features of the human resource management system.
So, now I will throw light on the top 15 features of human resource management software that can shape your business in an effective way. Let's deep dive,
Employees are a valuable asset for any organization and the most pivotal thing of HR departments that can deal with the employees. This is the most significant feature of any HRM software is an employee management system. With this feature, HR professionals can easily handle all employee's related activities.
This feature can allow the HR professionals to manage and maintain the employee's profiles and personal information such as employee position, salary history, tax and banking information details, performance evaluation, disciplinary details, insurance plans, and many more. Moreover, it can allow you to keep a record of this information for further needs.
Also, the HR management software can provide an employee self-service portal to enhance the transparency of employees, and they can get any update or message through a simple notification. So, before choosing any HRM system, you should be aware of whether you have this feature don't forget this feature can handle the following aspects.
- Employee's personal information
- Employee's position
- Salary history
- Banking information
- Tax information
- Performance evaluation
- Disciplinary details
- Insurance system and more!
Effective recruitment processes can play a major role in increasing your business productivity. Without being an actual recruiting and hiring method, you can not filter out the efficient employees that will be the asset of your organization. So, it's very important to recruit and hire the right person.
With this feature, the HR department can perform the overall recruiting process smoothly and effectively. Moreover, the HRM software can undertake all responsibilities of human resources from collecting candidate information to candidate shortlisted, interview session, and finally candidate selection. This feature allows all these activities to be performed via the HRM system.
In addition, this module can provide an applicant tracking system (ATS) that can automatically accept or reject applicants according to the predefined criteria. Also, this feature can allow you to post a job circular on various social platforms or websites, and it helps to create a job description. So, you can conduct the following aspects through this feature.
- Job description
- Job posting
- Information collecting
- Candidate evaluation
- Candidate shortlisted
- Selection and more!
Payroll management is an essential factor for all businesses. To conduct your business activities smoothly, you need the best payroll management system. Without proper management of the payroll system, most businesses may fail to achieve the desired profit.
Moreover, the HRM software can be able to provide an absolute payroll management module that can allow you to manage all payroll-related activities easily and accurately. You need not purchase any payroll software individually because you will get a complete payroll system in the HR management software.
This feature can control the salary structure of all employees and allow you to set up salary types. In fact, you can manage the entire salary-related activities through this feature. Thus, you need a complete payroll management system that will ensure your employee's satisfaction. Consequently, you can ensure the profitability of your business at the end of the day.
- Salary Administration
- Salary type set up
- Salary set up
- Salary generate & manage
The HR department can undertake to control the total flow of cash in your organization. However, if you adopt an HRM system, it will be more accurate and easy to keep a record and manage all financial information. HR professionals can easily handle all financial statements through the finance management system in HRM software.
With this feature, you can maintain and keep a record of your chart of accounts (COA) and easily manage your total asset, equity, expense, income, and liabilities. Also, this module can allow you to manage the task of balance adjustment, cash adjustment, and bank adjustment.
Also, you can keep track of the total compensation and manage reward and bonus programs. It can automatically generate several vouchers such as a debit voucher, credit voucher, contra voucher, and so on. So, you can save your time and ensure maximum accuracy through this feature.
- Chart of Accounts (COA)
- Compensation management
- Accounts reports
- General ledger
- Cash flow
HRM software has another exclusive feature called a talent management system. The HR professionals can evaluate the employees through performance assessment and track the productivity of employees. It will be very time-consuming for the HR professional to complete these processes manually.
To reduce such kinds of difficulties, you can use HRM software because the HR management systems can offer this feature that can be able to manage employee performance, behavior analysis, competency analysis, and so on. Moreover, it can offer an automated responding system and reviewing system that will gather your customer and employee satisfaction.
In fact, the talent management system helps you to evaluate your employees and provide enough transparency to measure them through a dashboard, and this dashboard can represent the overall performance of your workforce. So, it can wrap on the following aspects.
- Behavior analysis
- Performance assessment
- Competency analysis
- Key performance indicator (KPI)
It's essential to offer various learning and training programs to your employees for upgrading their skills and adapting to the latest technology. The HR department can handle employee training and development-related activities. However, it will be very time-consuming to manage the overall interaction with one's hand.
To minimize these issues, you need to apply HRM software because it provides an exclusive module that can help you organize all learning materials and required courses. Moreover, the human resource management system helps to find out the technical gap of all employees and manage the necessary training and development programs. Thus, this software is integrated with a learning management system.
With this feature, HR professionals can estimate and monitor the required cost for training sessions and development activities. So, the HR department need not perform any manual calculation to get the overall cost; rather, the HR professional can easily get a report and track the entire training session through this feature.
- Learning materials
- Training sessions
- Certification management
To increase your business productivity and profitability, you have to be concerned about your employee's satisfaction. Your workforce is a valuable part of your organization. Just as a building cannot stand without pillars, so your business cannot survive without employees.
To enrich your employee's gratification, you need to offer various facilities such as health insurance, life insurance, retirement plans, and many others benefits. Actually, the HR department can ensure these facilities and manage such operations. If you integrate an automated system for managing these activities, it will be very conducive to the HR department.
In this regard, this feature can allow the HR professionals to maintain these functionalities by providing a smooth service. Also, it can undertake the reward pointing system that will build a good relationship among all employees. So, this feature can be able to oversee the following aspects.
- Health insurance
- Life insurance
- Paid time off (PTO)
- Retirement plans
- Travel and tour plans
Check Out: 10 Best HR Software for Small Business
The HRIS system can also be capable of managing all of your assets in your organization. You may need to deal with various equipment, and it's an obvious need to purchase new equipment for your organization. Therefore, it will be very inconvenient to keep a record and provide the necessary equipment in time.
This feature can allow you to add several types of equipment according to the asset type. As a result, you can maintain all of your assets in an organized way. Also, it allows the HR professionals to keep a comprehensive list so that you can easily understand the equipment name, type, model, serial number, and so on.
Moreover, this module can be able to maintain asset assignment tasks. For instance, you can easily assign any equipment to an employee just by selecting the name of the employees. So, you don't have to face any extra hassle, and it is free from paper touch.
- Asset type
- Equipment management
- Asset assignment
- Returning system
This one is a very fundamental feature of any human resource information management software. The HR department can deal with the daily attendance monitoring activities and keep maintaining the overall record, but it is impossible to track the attendance report by hand.
Moreover, the attendance management system can be able to take all attendance and generate an accurate report automatically. The best HR management software is included with this feature so that you can maintain your attendance system smoothly.
This feature allows you to manage attendance forms and check attendance reports through the attendance log. So, you can manage your employee attendance system by using this feature.
- Attendance form
- Monthly attendance report
- Attendance log
A proper leave management system can help to enhance your business productivity. The HR department can also undertake the employee leave management system, and HRM software provides an effective leave management module.
With the help of this module, HR professionals can announce any holiday notice, and the employee can easily get it through the employee self-service portal. Also, it can allow you to manage weekly holidays as well. This feature provides an exclusive option that can allow the HR professionals to manage the leave application.
To manage leave applications, you need to add a leave type, and then you can manage all leave applications. Also, this feature can allow the HR professionals to approve or reject any leave application as well as to provide a comprehensive list including employee name, employee ID, application date, approval date, status, and more.
- Holiday management
- Leave type
- Leave application
Were you thinking about the promotion and performance evaluation of your employees? HR management systems provide an excellent feature that can be able to evaluate performance. As per this evaluation, it will be very effective to make the decision for promotion.
This feature can help you to make your assessment process so easier and transparent. It can generate a report that will assist you in observing the overall productivity ratio of all employees. So, you can easily find out the effective employees through this feature.
Moreover, the HRM system provides enough transparency and prepares this report so accurately. So, this feature can save your time and worth as well as ensure to give reward for the right person.
- Productivity tracking
- Performance assessment
Time is so precious in every sector of your professional life. The HRM software can be able to track how effectively time is being utilized by your employees. It is essential to keep track of time because time transforms into money, and money brings profits to your organization.
With this feature, the HR professionals can monitor each and every time as well as generate an electronic timesheet that will be very transparent to the employees. Also, it can be able to manage overtime tracking, clock in/out, project billing, and so on. Also, it can allow you to get an accurate report that will be very beneficial for your business.
You can be able to integrate a hardware device for taking biometric fingerprints with an HRM system. Moreover, this feature can manage the entire process of taking fingerprints and the overall time from the clock in to clock out. So, it can handle the facets of your organization.
- Time tracking
- Time reporting
- Biometric fingerprints
Concern to prepare a complete report of your income and expenses? HR management software can make this task so swiftly and smoothly. Otherwise, the HR professional takes too much time to calculate the overall income and expense history.
Before choosing any HRM software, you must need to be careful of this vital feature. This feature can allow you to add your income field. Also, it can provide a detailed income sheet that is included with date, income field, money receipt, amount, payment type, remark, and more.
Also, you can add your expense field and get a complete expense sheet including date, particulars, voucher no, amount, payment type, and remark through the expense feature. Using the expense module, you will quickly understand the overall expense statement.
- Income sheet
- Income statement
- Expense sheet
- Expense statement
Proper analytics and accurate reports help to improve your business strategy. The most significant responsibility of the HR department is to undertake the report and analyze the growth of your organization.
To perform this task smoothly, you need HR management software which offers a compelling feature that can be able to generate reports and analyze the overall activities. With this feature, the HR professionals can get a real-time report and help to make the best decision for your organization.
This feature can allow you to get an attendance report according to daily and monthly. Also, it can help to generate a leave report, employee report such as a demographic report, positional report, benefits report, and more. Moreover, you can get an ad hoc report through this module.
- MIS reports
- Attendance report
- Employee report
- Demographic report
- Positional report
- Asset report
- Benefit report
- Custom report
To choose the HRM system, you have to ensure some technical aspects that will provide a smooth service after purchasing the software. These features are so important to manage your entire system and get a simultaneous service. This feature has included several aspects that will enhance the user's experience and ensure a better and long-life service. So, it is included with the following technical aspects.
- Software deployment
- Mobile app integration
- Technical support
How Invincible These Features Are!!!
Organize Your Entire Workforce Smoothly with HRM Software
Human resource management software is a complete package for managing your employees. It can be able to provide some outstanding features that will ensure to perform such kinds of activities.
The features of a human resource management system make your business profitable and shape your business in an organized way.
Also, the HR software can help to enhance the efficiency of your HR department and improve your employee's experience as well.
Some features of human resource management software can ensure to maximize your business ROI and help to make better decisions in every step of your business.
The HRM system also can deal with developing your employee's skills with the help of learning management features, and a skilled workforce acts as a valuable resource for your organization.
In addition, you can get a secured system, and the features of human resource software ensure security and better regulatory compliance in your business.
Almost 70% of Productivity Can Be Increased by Using an Effective Human Resource Management Software
HR software has some useful features and modules that will help to operate your business successfully. It can assist the HR professionals in reducing their workload through some automated features.
Also, the HR management software can minimize the paperwork that will ensure accuracy and quick service in all sectors of your business. You can spontaneously monitor the performance of your personnel and evaluate their performance through the features of human resource software.
According to a statistic,
“The growth rate of human resource management software is USD 9.89 billion and a CAGR of 8.8%”. Source
Another report shows that,
“Almost 75% of HR professionals used HRM software or an applicant tracking system for a smooth hiring process”.
Moreover, the HRM system can be able to track every single time of your employees; as a result, you will get the maximum outcome from them. So, the best HRM software can assist in enhancing productivity with its tremendous features and remarkable benefits.
Save Your Costs by Choosing a Ready-made Package of HRMS
Do you know which features make the HRM software? Definitely, you have already known that. Eager to know how you can get the best HRM software with these exclusive features? You need not worry at all because you can easily get a complete HR management solution that will save your cost.
So, it's time to grab the opportunity and shape your business with an effective management system.
Now, I came to the ending part of this article, and I appreciate you reading this. The HR management system is part and parcel is your business, and it is a crucial part of your business management software. However, it's very necessary to have a clear concept about the features of HRM software.
This article helps you to know about the features of a human resource management system. Moreover, you can get a detailed list of the top 15 features of human resource software. Also, this article can assist you in understanding the purposes of each feature.
So, it will be very convenient for all entrepreneurs who want to integrate their business with a complete HRM package.
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