Skip to content

HRMS Software: When to Invest

5 min read

Whether your business has just started, is beginning to grow steadily, or is chugging full steam ahead, HRMS software needs to be a part of the conversation. You already know that spreadsheets, emails, and paper files won’t be enough to support your business long-term.

Good HR software will not only streamline basic functions such as payroll, scheduling, and attendance tracking. It will also help your business develop with applicant tracking, onboarding, and performance management.

Even so, prudent business owners and managers don’t want to invest in software until they know for certain that it’s the right time. Here, we’ll discuss the tell-tale signs that your business is ready to upgrade to HRMS software.

Definition: What is HRMS Software Solutions?

HR work is more complicated than ever. Responsible for overseeing processes for every step of an employee’s life cycle, HR team members are often spread thin. Furthermore, the stakes are high! Incorrect payroll or time-tracking, for example, may lead to legal consequences.

This is why HRMS software has become ubiquitous. HRMS (Human Resource Management System) software integrates, manages, and automates the routine HR processes in an organisation.

Automation minimises opportunities for human error, limiting the company’s liability. It also frees up time for HR teams to shift their focus away from tedious tasks and toward important strategic decisions.

HRMS Software Training Can Help Your Business Level Up

Lots of businesses benefit from the automation of vacation scheduling, time tracking, payroll summaries, HR reports, and applicant tracking systems. But not all businesses take advantage of HRMS software training and development opportunities.

With performance management and HR reports, top HRMS software allows you to spot and address weaknesses before they become a problem. With additional onboarding tools and workflow organisations, HR software will get new employees up to speed right away.

HR software will make a difference in the day-to-day of the HR team. More importantly, it will make a difference in the culture of the business, and how it sources and develops talent.

The Difference Between HRMS, HCM, and HRIS

You may have come across other acronyms for human resources technology, such as HRIS or HCM. What’s the difference? These days, it’s pretty subtle. Let’s dig deeper to address what these acronyms stand for and what different systems can do.

  • HRIS: Human Resource Information System

HRIS software is often considered the most “basic.” It tracks numerical data and employee information and offers analytics to identify workplace needs.

This refers to the overall approach that a company takes to managing its most important asset: its people. HCM uses human resource data to make better strategic organisational decisions. HCM software may include recruiting, compensation and benefits, talent management, and attendance tracking.

  • HRMS: Human Resource Management System

This software is considered to be the most robust. It deals with the same information as HCM or HRIS software, with the addition of non-quantitative information surrounding employees and applicants. HRMS software may include features such as onboarding, employee satisfaction, and more.

hr banner

4 Clues That You Are Ready for HRMS Software Download

Now that you’ve got the lingo down, we can address the four big clues that you and your business are ready for an HRMS revolution.

1. You’re bogged down with administrative tasks.

There’s a big difference between being productive and being busy. If your HR team is stuck inputting data into spreadsheets, chasing down employees for a signature, or fielding every single vacation request, it’s time for a change. Automating admin will free up the HR staff to optimise productivity and employee satisfaction.

2. You have to fight multiple systems or sift through files to find important information. If your HR department is stuck in the past using pen and paper or using a unique system for each administrative function, it’s time to give HRMS a try. Get everything in one place in order to save valuable time. This will also ensure important documents don’t get lost in the fray.

*Pro-tip: When you do invest in HR software, don’t forget to throw out those filing cabinets! Paper filing isn’t just inefficient; it’s a fire hazard.

2. Your staff are all over the place – literally.

These days, more people are teleworking than ever. Whether you have employees who occasionally work from home or employees who live on the other side of the world, HRSM can keep you centered. With simple documents management and employee files in one central location, everyone will be able to find the information they need when they need it.

3. You’re not making the most out of data.

We live in a data-driven world. There is data to be found in all kinds of HR processes and if you are not taking advantage of it, you are missing out on a vital resource. HRMS software companies like Factorial will give you a glimpse into the inner functions of your workforce. This will help you address issues in the present and plan for the future.

4. You don’t have enough time to focus on strategic thinking.

Correctly utilised HR can be the powerhouse of a company. If your HR team is too busy with spreadsheets to do the heavy-lifting they are capable of, it is time to give them a little help. Let the software do the boring stuff. Meanwhile, let HR drive change, increase efficiency, and improve employee satisfaction.

HRMS System Software Solutions

So maybe it is time for you to try out HRMS system software. What exactly can software do for you? Here we’ll talk about HRMS software development opportunities.

  • Reduce costs and administrative burdens.

While HR software might mean a new monthly fee, it will probably pay for itself in time saved and liability avoided. HR teams need to carry out various daily, weekly, and monthly functions, in addition to onboarding employees, and managing performance appraisals. By automating these workflows, software will ensure nothing slips between the cracks.

  • Simplify and streamline information storage.

An HRMS will keep all of your employee data and important documents in one place. This means you can reach whatever information you need whenever you need it.

  • Better communication across the organisation.

Employees will be able to use their own interface to check the time off manager for their paid time off accrual, holiday requests, and salary. They won’t have to come to HR for every little question. This will surely save time –and frustration– on both sides.

  • Provide timely data analysis.

People data is a goldmine of information that can offer insights into staff engagement, performance, turnover, costs, absenteeism trends, and more. Use your data to provide HRMS software training in areas where you hope to see improvement. Above all, make data-driven decisions that will benefit your workforce.

HRMS Software Free or for a Price?

The HRMS software price typically falls between £1-£10 per employee per month. While you may be able to find HRMS software free, we’d advise against it. If you’re not paying them, someone probably is. That means you may not have full control over your data.

We do however encourage you to shop around! Do a comprehensive HRMS software comparison to make sure that the software you are investing in has the features that you need. In short, finding the best fit for you will ensure you can reap all the benefits of HRMS.

The Future of HRMS Software Features

When you invest in HRMS software free or paid versions, you invest in your business’s future. Businesses without these tools are at risk of getting left behind. Give your company the support that it needs to grow with software that takes care of the little things so that you have time to concentrate on the big picture.

Find the best HR talent

Software isn’t the only solution for effective HRM, although it definitely speeds up daily tasks! It’s important your company gets hold of HR professionals too, in order to execute effective HRM processes. Is your company struggling to find the best talent? Check out Job Board for Professional Services, here you can post available HR positions on multiple job boards at once. This way, you can find HR professionals who suit your company culture and values perfectly!

Your HRMS to better manage HR processes: Register for free!

Related posts

DMS Explained

  What is a Document Management System (DMS)? A documentation management system, or DMS for short, is a digital file management programme that allows companies [...]

Payroll Explained

Payroll services are what keeps organisations ticking. It ensures that employees are compensated accurately and on time while navigating the complexities of taxes, benefits, and [...]

Leave a Comment