Posted on 28th Aug 2023

Top 5 Features of HRMS 2023

In today's modern workforce, managing human resources has become increasingly complex. With the growth and expansion of businesses, managing HR processes manually is no longer feasible or efficient. This is where HR automation comes in handy. A Human Resource Management System (HRMS) can simplify HR tasks, boost efficiency, and reduce costs. This article will discuss the top five features of an HRMS that can revolutionize your HR department.
From the integration of digital technologies to the growing focus on sustainability and reshoring, these trends will offer new opportunities and challenges for manufacturers across different sectors. Here are some manufacturing trends that are currently popular and could potentially still be relevant in 2023:

1. Talent Management

Talent management involves attracting, developing, and retaining employees. An HRMS can streamline this process by tracking employee skills, experience, and performance. This will help you identify top performers and develop retention plans. Additionally, an HRMS can help you identify skill gaps and recruit new talent to fill them. An effective HRMS will have skills tracking, performance management, and talent acquisition features.
Skills tracking allows you to monitor employee skills and competencies, which can help you identify areas of strength and weakness. Performance management enables you to set objectives and goals for employees, monitor their progress, and give feedback. Talent acquisition allows you to post job openings, screen candidates, and schedule interviews.

2. Payroll Processing

Use an HRMS to automate payroll processing and eliminate manual calculations. This reduces errors, ensures compliance with labor laws, and accurately manages employee records. With an HRMS, you can easily calculate salaries, deductions, and taxes and generate pay slips and other payroll reports. An effective HRMS will have features such as automated payroll calculations, tax calculation and filing, and expense tracking.
Automated payroll calculations ensure that employees are paid accurately and on time. Tax calculation and filing ensure that your payroll taxes are accurately calculated and filed with the appropriate government agencies. Expense tracking allows you to monitor employee expenses and reimbursements.

3. Performance Appraisal

Performance appraisal assesses employee performance against set standards, identifying areas for improvement. An HRMS can simplify the performance appraisal process by automating the evaluation and feedback process. It also allows you to set performance goals, track progress, and provide employee feedback. This will help you identify top performers and develop retention plans. An effective HRMS will have features such as performance goal setting, performance tracking, and employee feedback.
Performance goal setting allows you to set specific, measurable, achievable, relevant, and time-bound employee goals. Performance tracking enables you to monitor employee progress toward their goals and identify areas where employees may need additional support. Employee feedback allows you to provide timely and constructive feedback to employees.

4. Employee Data Management

Employee data management is collecting, storing, and managing employee data. An HRMS can help you streamline this process by centralizing all employee data in one place. Employee information, such as personal details, employment history, and job descriptions, can be easily managed with an HRMS. This facilitates informed HR decisions and compliance with labor laws. An effective HRMS will have features such as employee profile management, document management, and compliance management.
Effective employee management starts with proper employee profile management. Keep track of your employees' personal details, employment history, and job descriptions easily. Document management lets you store and manage employee documents, such as resumes, performance appraisals, and disciplinary actions. Compliance management helps you stay compliant with labor laws and regulations.

5. Onboarding, Time and Attendance Tracking, and Benefits Administration

Efficient and error-free onboarding, attendance tracking, and benefits administration are essential functions of any HR department. An HRMS can automate these processes, enabling you to easily create onboarding checklists, track employee attendance, and manage employee benefits. This will help you save time and money and reduce the risk of errors. An effective HRMS will have onboarding, attendance tracking, and benefits administration features.
Onboarding allows you to create a comprehensive onboarding program for new employees, which can help them become productive more quickly. Attendance tracking allows monitoring of employee attendance and management of time off. Benefits administration manages benefits such as health insurance, retirement plans, and paid time off.

6. HR Analytics and Succession Planning

HR analytics and succession planning are critical functions that can help you identify trends, predict future needs, and plan for the future. An HRMS can help you analyze employee data and create reports on key HR metrics. With an HRMS, you can identify high-potential employees and create succession plans to ensure a smooth leadership transition. An effective HRMS will have HR analytics, workforce planning, and succession planning features.
HR analytics enables you to analyze employee data and create reports on key metrics such as turnover rate, diversity, and employee engagement. Workforce planning allows you to plan for future workforce needs and identify areas where you may need to hire additional staff or restructure existing roles. Succession planning enables you to identify high-potential employees and create succession plans to ensure a smooth leadership transition.

Revolutionize your business with Globe3 HRMS.

In conclusion, an HRMS can revolutionize your HR department for the future and ensure a smooth leadership transition. Streamline your HR processes with Globe ERP. Are you still relying on spreadsheets and paper files to manage your human resources? There's a better way. Globe ERP is a human resource management system that automates your crucial HR functions.
Don't delay - make the move to Globe ERP today. Streamline your HR processes, gain workforce insights, reduce compliance risk, and empower your employees. Our all-in-one human resource management system has everything you need to build a world-class HR function.
Visit Globe3 ERP for a free demo, or call (65) 6749-8823 to speak to a solutions expert now. The future of HR is here - experience the difference with Globe3 ERP.