Every year brings new challenges for people involved in the HR or human resources department. Since workforce management is the most crucial part of every business irrespective of the industrial sector they are involved in, today HR leaders are looking towards technological solutions which are able to cope with these organisational changes.
There has, thus been a perceptible change in the way a company payroll software is being developed. Previously this software only had to perform the following functions like:
- Digitalizing hiring and keeping a track of all legal documentations,
- Creating standardised forms for compensation and rewards,
- Ensure a fair and point based system of employee evaluation and
- Keep a track of an employee’s movement and progressions within the concerned company.
Today with statistics pointing at the need for more specific HR software to deal with HR issues, new software catering to the HR needs of the company must have the following features:
- People Analytics: This feature enables companies to effectively harness employee data and create a system based on predictive analysis.
- Continuous management of employee management: The best way to retain and regain the interest of dissatisfied employees is to continuously ask for their opinions and inputs with regards to the improvement of a company’s culture and especially its managerial standards.
- Team and its performance management needs to be redefined:Team management has undergone a change to become much more dynamic now and hence now goals need to be set, managed and tracked in a manner which is much more innovative, interesting and different from the way it was previously done.
- Employee review system needs to be improved: Modern assessment methods contained in the payroll software in sync with those prevalent in other sectors with high employee satisfaction and retention need to be incorporated and implemented.
The above factors are some of the main characteristics which HR software should have so that they are able to cater to the changing times and deal with the problems faced in workforce management today.