Technology is now an inevitable part of our daily routine. Digitization has contributed to an increased growth and advancement of various industries including the human resources. Most HR professionals often find it difficult to juggle between the important HR responsibilities. Technology in HR takes care of the mundane HR duties and allows HR professionals to prioritize more crucial tasks. This impact of technology in HR has contributed to the rise global HR tech industry.
Human Resources and Technology
The work of an HR is critical in finding the right candidates for the company, retaining the best talent and encouraging their professional growth. The role of the HR professionals is slowly transitioning from a pure administrative role to a more strategic, leadership-oriented role. They play a pivotal role in employee engagement, relations, conflict resolution, thereby achieving the organizational goals. HR tech helps minimize the hassles and maximize their productivity to achieve help them achieve the same.
About 70% of the firms reported saving 10% or more, while 37% reported saving 20% or more, from the total HR cost after switching to an HR software, according to the 2021 ISG Study on Industry Trends in HR Technology and Service Delivery.
How does technology help transform Human Resources?
The manual data entry and piles of paperwork can now be easily managed with the help of the various HR software available in the market. The impact of technology in human resources also helps to streamline data while making it more secure and accessible. Capitalizing on such software can create a positive impact in the workspace. The meteoric rise of the HR software shows that more organizations are now willing automate their workforce, empowering them with more time and prioritizing the needs of their workforce.
Let’s take a look at the 6 ways in which technology can impact human resources:
1. Hassle-free Onboarding Process
Onboarding has the potential to influence how employees perceive the company. A positive, hassle-free onboarding process is the dream of both the employee and the HR professional. However, the various documents required, along with the approvals can be quite exhausting. HR software can help in a smooth onboarding with its simple questions and forms which the employee themselves can fill with minimal human intervention and monitoring. This reduces the workload of the HRs, and increases the credibility of the process.
“In my previous company, we used to enter the employee details manually. This used to be time consuming and has even led to numerous errors. PayWheel automates a self-explanatory form which the candidate can fill on their own. This makes it easier to cross verify the details while reducing common errors.”
-Niharika, Associate Technical Recruiter, Tricon Infotech
2. Optimizing documentation and automation
Ever since digitization came into the forefront, most documentation has become paperless. With the latest technology, we can now access information in a matter of seconds instead of going through heaps of unnecessary data.
3. Prioritize Employee analysis, engagement and benefits
With the latest technology that take care of the mundane tasks, HR professionals can now concentrate on team building and similar strategic responsibilities. This includes focusing on employee engagement, acknowledging best performers, providing appraisals & benefits to the deserving candidates. This helps in boosting the employee satisfaction which in turn helps to retain the best talent and reap better output.
4. Leave and Attendance Management
5. Managing Payroll
Payroll processing is one of the most important responsibilities of an HR which cannot be compromised. Any errors can stir dissatisfaction and lack of trust towards the company. Payroll automation helps to track the working hours, tax and benefits calculations along with the attendance details of each employee. Accuracy and robustness are key to any efficient payroll management system. HRM tools provides a variety of informative reports, statutory compliance reports, empowering the HR and management to have a better control of the relevant information, which in turn helps everyone take informed decisions.
6. Performance Management
Recognizing the strengths, areas of improvement and the interests of employees is vital for the growth of any organization. Thanks to science and innovation, various software can now track employee lifecycle, their performance feedback, skill development, their interests and growth objectives. It tracks the targets, feedback, upskilling, progress of each employee. Appreciating the hardworking employees, providing them more opportunities for growth will help retain such talents and creating a reliable, excellent workforce and thus reducing attrition.
Being an HR professional of an IT company, I have often faced difficulties while assigning employees for various projects based on their skill sets. Many a times, we are unaware of the new skills they have recently acquired. This has led to eligible employees missing good opportunities while the company remains oblivious of a potential talent in the forefront. PayWheel, records the beginner level, intermediate and proficient skill set of each employee. This makes it easier for us to understand and keep track of the progression while assigning them to the best suited projects. “
-Prashanti, Executive- People Ops, Tricon Infotech
As an HR professional, it is imperative that one don’s multiple roles and tasks in order to ensure that the employees are happy and productive. There are multiple tools that are now available in the market that helps them navigate through the numerous tasks. However, a dedicated HR professional requires a reliable partner or a tool that they can trust. Tricon Infotech with over 26 years of experience in the software development domain, have developed our cloud based HRM solution – PayWheel. We currently have a diverse clientele of 100+ customers and empowers over 10000+ of their individual employees.