When a business owner or a manager thinks about implementing HR Automation in his organisation, he comes across 3 possible solutions.
These are–
HRMS (Human Resource Management System),
HRIS (Human Resource Information System), and
HCM (Human Capital Management).
What Is Data-Driven HR?
Human resources have undergone a significant transformation in recent years. No longer is it solely focused on hiring and firing employees. It has evolved into a strategic function that can drive business success. One crucial tool that HR can leverage to achieve this is data.
This has become more and more affordable as HR tools like HRMS software capture a large amount of relevant HR data. This is a goldmine for business owners, with a data-driven HR approach.
Data-driven HR means using data analytics to make informed decisions about workforce management. In other words, it’s all about using data to inform and guide the HR function.
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Small and medium-sized enterprises (SMEs) face unique challenges managing their human resource (HR) functions. Often, these businesses have small HR teams. So business owners also get involved in HR tasks.
Let’s be straightforward here. This poses multiple challenges.
First and foremost, the business owner gets distracted from the core business, & the business suffers.
Secondly, HR is a specialised function. Admin and junior HR persons get overwhelmed with the complexities involved. This leads to inefficiencies in managing attendance, payroll, leave management, recruitment, & onboarding. And errors in adhering to compliance.
Continue readingIndian SME businesses are gearing up, not just for incremental growth but the big game. It clearly shows in the increasing demand for HRMS softwares. Why is the increase in HRMS software so vital an index? Because companies mostly start with automation in the area of finance and sales. Only when they are ready for
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