HRMS Solution helps you in effectively managing your workforce in low cost. It can cut your HR department cost without compromising on efficiency.
Today, in many organizations, each department is being asked to scale down expenses – and, at the same time, exhibit the overall value it provides to the organization. Human resource departments are no exception. Over the last decade, HR’s role of merely recruiting and maintaining employee records has been expanded to save on workforce-related costs, find and hire better talent, and improve existing talent through training and development. But most days, they are stuck doing paperwork. The routine administration involved in day-to-day HR operations drains away the majority of their available time and money.
Unlike before, organizations need to adopt and rely on Human Resource Management System solution to be on top of their new redefined role. Implementing an HRMS eliminates much of the routine paperwork associated with HR. An HRMS can help your organization reduce costs in many ways: improved accuracy, reduced supply costs, and more efficient routing and approval of electronic forms and requests. Going paperless not only eliminates the cost of the paper itself, but it also lowers the expense of printing, handling, delivery, and storage of your documents.
Likewise, the cost associated with data entry, time and resources are saved because employees can directly interact with the HRMS through self-service functionality. Employees take responsibility for entering some data, such as a time-off request, address change request into the HRMS, which can be immediately reviewed and approved by managers.
An HRMS automates the most manual and time-consuming human resources functions. Statistics show that 1 HR is required to manage 100 employees. With the help of HRMS, the ratio can be revised to 1 HR professional for 140 employees. This automation frees up valuable time that can be spent on more strategic initiatives. This also means that the cost of operating and maintaining the company and its employees reduce.
One of the most important functions the Human Resources Personnel are tasked with is maintaining and retaining talent in the organization. The cost of training a new employee is around five times more expensive than retaining talent. And to retain talent, it is the role of the HR to take care of employee grievances. The HR cannot perform the task of employee retention unless he has help and help comes in the form of compact software that not only automates but also simplifies the job.
Implementing an HRMS can also let you circumvent costly mistakes by eliminating errors. HR updates are constant, and as data is required from multiple sources, it can lead to inconsistencies and increase the risk of human error. Of course, these human errors can end up creating confusion and other issues that could cost you big. A good HRMS will eliminate errors by instituting various fail-safe measures, checks and balances, and more. Whenever your business runs free of error, it saves itself big.
Additionally, non-compliance with various workplace regulations and legislation can result in major fines and negative publicity which in turn can impact employee morale. An HRMS solution will update compliance information automatically and perform various checks and balances saving you the stress of trying to keep up with changing regulations.
Naesys provides a comprehensive solution to help your organization reduce costs, improve compliance and get the best out of your most important asset: your employees. Naesys Government HRMS, a complete web based HR management software can cover the entire life cycle of an employee from recruitment to resignation or retirement.