Any HR manager knows the importance of technology in running a streamlined operation. Technology is an investment, and that raises the question: What human resources technology solutions do you really need to excel in human capital management? Following is a description of vital HR technology your company is likely to need.
Payroll Processing Software
Payroll software is a system designed to organize all the functions involved in paying employees and filing employment taxes. This may include:
- Tracking time and attendance, including overtime
- Calculating wages, deductions, and withholding taxes
- Printing and delivering or electronically transferring paychecks to employees
- Paying employment taxes to government agencies
A good payroll system should require very little input from HR. The payroll software calculates and automatically performs withholdings and should be updated automatically to meet changes in tax laws.
Recruiting/Talent Acquisition Software
Innovations in software are currently driving an evolution in talent acquisition functions. New software tools are available to help HR succeed in a resource-conscious, candidate-driven environment. A modern recruiting software landscape may include features such as:
- Job boards
- Applicant tracking
- Recruitment CRM (candidate relationship management)
- Employer branding (new employees’ first impression of the company)
- AI (artificial intelligence) and automation
- Video interviewing
- Testing and reference checking
Benefits Management Software
The right benefits management software integrated into operations can help HR managers analyze demographic data to determine the healthcare coverage needs of employee segments. Having a better understanding of workforce demographics and behaviors gives managers the ability to make more informed decisions, tailor employee benefit systems, and offer more streamlined, user-friendly benefits enrollment.
Companies that offer competitive benefits packages see advantages that go beyond having a healthier workforce. They are likely to see a higher level of retention and a reduction in costs associated with recruitment and onboarding. Increasing employee satisfaction with their employer can increase productivity as well as the average length of tenure.
Performance Management Software
Performance management is a vital HR function. Nevertheless, performance reviews generally have a bad reputation, among both employees being reviewed and reviewers. Emotions associated with the employee review process often include frustration, anxiety, and boredom, and most employees feel that these reviews fail to accurately measure their performance.
Employees want to be good at their jobs. They want to learn and receive feedback immediately to help them improve. Modern performance management software can assist HR with:
- Dynamic goal setting
- Continuous feedback and learning
- Career development planning
Companies that provide detailed coaching and development planning to their employees have significantly less voluntary turnover.
Succession Planning and Management Software
Successful HR managers are not only focused on today but also preparing for the future. That means creating and honing an effective succession management strategy. It means considering current top performers and also identifying talent with the potential for leading the company to success in the future.
Succession management software is a vital tool to assist in crafting and executing long-term succession plans. This HR technology can help managers track, analyze, and evaluate the performance of hundreds of employees or more. With predictive analytics and other innovations, succession management software can point out high-performing individuals most likely to succeed as company leaders in the months and years to come.
Workforce Management Software
This is an umbrella term for software solutions for management of employee scheduling. The goal of workforce management software is to give managers visibility into the workforce, including business metrics, such as the minimum number of workers in a particular category needed at a given time of day.
The core functions of workforce management software are:
- Labor scheduling
- Task and activity management
- Collection of time and work data
- Employee leave management
- Time and attendance
Compensation Management Software
HR departments use compensation management systems to develop streamlined compensation management strategies that benefit their team. This HR software makes it possible to optimize salary budgets while ensuring equitable compensation for employees. Managers use it to view and adjust compensation policies, plan bonuses, and recommend pay adjustments.
A good compensation management system should:
- Provide a centralized dashboard for viewing compensation data
- Make it simple to import and export compensation data for reporting purposes
- Facilitate diverse bonus structures
- Allow users to publish internal compensation policies
- Aid in creating comprehensive salary budgets
Wellness Management Software
Wellness management software is a useful tool to help employers cultivate good lifestyle habits among their employees. Wellness programs are a common feature in employee benefits packages for small and medium-sized businesses today. Done correctly, they can reduce healthcare costs, improve performance, and help create a positive company culture.
Wellness management software assists with management and administration of wellness programs. It should be able to:
- Educate employees using videos, books, webinars, and biometric results
- Conduct a confidential personal health assessment
- Make engagement easy
- Track program activity and participation
- Administer and track rewards and incentives
- Demonstrate how to be healthy
- Provide tools that can assist in health improvement
- Encourage social support
- Create a work culture that promotes health
Employee Engagement Software
Employee engagement software is an effective tool to help HR solicit and track feedback from employees, promote positive activities, and recognize employee achievement. These systems use pulse surveys – succinct surveys sent at regular intervals to employees with a list of questions designed to accurately evaluate engagement.
Software employee engagement solutions can help HR:
- Design and distribute pulse surveys
- Gauge employee satisfaction
- Promote employee recognition through internal communication channels
- Collect and organize data from pulse surveys for reporting purposes
HRIS Systems Software
Human resource information systems (HRIS) are software systems that create an intersection of human resources and information technology. They provide a means of performing a number of functions, including human resources, payroll, accounting, and management. An HRIS can help a company plan, manage, and control HR costs more effectively.
An HRIS may offer a number of solutions to businesses in areas such as:
Human Capital Management Software
Instead of piecing together the HR technology your company needs, why not have a HR platform? EPAY Systems offers fully integrated human capital management solutions to ease your HR workload and save your company money. With our system, you create one employee record, one time, and it flows through a full suite of unified applications.
Features of EPAY Systems human capital management software include:
- Recruiting and applicant tracking
- Employee onboarding
- HR management
- Benefits administration
- Time and attendance tracking
- Payroll and tax management
- Performance management
- ACA compliance
Our flexible, cloud based workforce management system gives you real time visibility into your workforce, streamlined payroll processing, and compliance protection. It features:
- Alerts and messaging
- Mobile time management
- Employee scheduling
- Biometric time clocks
We offer smart software and professional services to help employers operate more effectively, in less time and with less work. In addition, we provide free, friendly, knowledgeable customer support, 24 hours a day, 7 days a week.