How HRMS is leading the Road to Future of Work
There is no doubt that the way human resources operate has drastically changed over the last few years. From employee priorities to how HRs function, the world of work is always changing and HR tech is at the forefront of this change.
Today’s HR responsibilities cover everything from productivity to prescriptive analytics in HR to managing employees and enhancing company culture. The role of HR has also become more dynamic, complicated and strategic. As people become a valuable priority for organisations, they are starting to realise that implementing HR digital technology in the correct way can bring people and culture together and ensure that individuals accept the changes. And platforms that enhance or simplify these aspects like HRMS are truly becoming indispensable.
The Changing Role of HR
HR departments have been working hard over the past decade to adapt to the demands of a dynamic corporate environment. This essentially implies:
- improving effectiveness
- lowering expenses and acting rapidly to satisfy business requirements
- assisting employees to adhere to policies
- focusing on streamlining transactions
Organisations need to think beyond incremental changes to increase the efficiency of human resources. They can make use of technologies like automation to make better HR decisions and improve business operations.
With the correct tools, HR can focus on serving the most important needs of both the company and the employees, in addition to improving employee happiness and reducing expenses.
Succeeding in the Future of Work with HRMS
By 2025, it is anticipated that the global human resource management (HRM) market would be worth $30 billion. HR professionals are now able to complete traditional tasks with much greater simplicity and efficiency, thanks to developments in information technology (IT), predictive analytics, artificial intelligence and machine learning. More HR leaders are preparing investments over the next two years in areas like predictive analytics, improved process automation and artificial intelligence (AI) to enter and succeed in the future of work.
Here’s a look at how HRMS are potentially transforming organisations to adapt to the changing business needs and stay ahead of the times:
Any employee can benefit from a smooth and successful onboarding because it builds a lasting impression, leading to better stability. A study has revealed that employees who have gone through a proper onboarding program are 58 per cent more likely to stay with the company. Employee onboarding in general can be a complicated process that can take a lot of effort and time. However, this procedure can be aided by an efficient HRMS. The joining procedures can be completed smoothly which frees up HR to concentrate on integrating the new hire into the company culture.
For a long time, performance management has been a key HR function. HR specialists have been at the forefront of the process, keeping an eye on performance, gathering supervisor input and organising regular employee reviews. HR technology has streamlined the process and eliminated a lot of unnecessary steps. Additionally, the latest generation of data-driven performance management is further assisting HRs in identifying chances for coaching and benchmarking each employee’s performance.
The data obtained from HRMS analytics can be utilized to provide actionable insights and, in turn, enable data-driven choices regarding promotions or remuneration, success and development planning and agile cross-functional team staffing.
Learning and Development
Learning is more flexible and simpler to administer with the help of HR tech tools like HRMS. L&D professionals can keep all development resources in one place, and these systems also give modern workers more freedom. They are ideal for hybrid teams because they work from different locations. Additionally, they’re also ideally suited to employees who work flexible hours as the employee can choose when to study. An organisation can ensure that training and development is more convenient for employees by using digital learning tools. This makes it easier to ensure compliance and up-to-date training records.
Employee wellness programmes have drawn more attention in recent years from businesses and organisations all over India. Lockdowns and other social isolation measures that followed made people feel unhappy and emotionally exhausted. Companies are investing in Happiness Index solutions to address the problem, which combines data science, neuroscience, and AI to deliver important insights into the factors that affect employee happiness. By gathering and analysing data, HR professionals can create people-based initiatives to boost employee engagement, productivity and organisational culture.
Over the past few years, HR technology in India has undergone a significant revolution. Businesses are now aware of how important strategic insights are to ensure that HR operations run smoothly. Data analytics can help provide valuable data and in turn improve spending, productivity and operations helping organisations holistically. Moving forward, organisations from all industries will incorporate HR technology into their HR function to ensure a better-managed workforce and build a resilient workplace for the future.
(The author is Mr. Vicky Jain, Co-Founder & CEO, uKnowva – 360 degree HRMS, and the views expressed in this article are his own)