Top 5 features of HRMS that small businesses and startups should need
In today’s world of computer-aided designs and automated delivery solutions, cloud-based human resource management systems(HRMS) are not that uncommon, to begin with. Almost every company with some form of internet reliance makes use of HRMS systems (be it internal or outsourced) to streamline their payroll management, incentives allocation, and human capital management. With the advent of titular communication and effective collaborations across different firms, even small businesses and startups are easily implementing certain HR tech solutions to their employee management system. But not all aspects of a complete HRMS solution is essential for all client. Smaller businesses generally rely on limited human capital and hence their HRMS footprint and subsequent requirements are of small proportions.
Here, we look at some of the top 5 features of HRMS that SMBs and startups need:
1. Recruitment and Hiring: Startups are generally highly constrained with human capital spending and work allocation. And as everything has to be maintained by a small team, the workload is immense. With AI-backed shortlisting processes to robotic interviews, HRMS provides several measures to speed up the hiring process. This helps in time conservation and is ultra resourceful for small businesses.
2. Workflows: Organisations, as well as startups, have a lot of repetitive and regular tasks that cripple the efficiency of day-to-day work and HR management. HRMS-based workflows allow businesses to automate these tasks as well as increase collaboration outputs through cloud-based push notification services that keep the whole team informed. Systems such as ZingNeo use data assessment to channelize proper engagement and meeting expectations. This helps shorten the HR process cycle and reduce the operating costs of the company.
3. Performance Evaluation: One might wonder that with fewer people, performance evaluation should be fairly easy. But this is always not the case as startups typically don’t hire internal HRs during their first few years of inception. This becomes a burden for co-founders who generally carry out certain HR processes on their own. HR tech-equipped HRMS systems help share this responsibility through cloud-based evaluation metrics which are faster and hassle-free.
4. Employee Portal: It is highly unlikely that smaller companies deploy any form of the in-house employee portal. HRMS systems such as ZingNeo solve this by providing state-of-the-art AI-equipped employee portals where employees can access their paycheck balance, incentive allocation, leave and punch-in/out application, and more. It is, in fact, advisable to utilize HRMS platforms for better security and optimized serviceability reasons.
5. Talent Retention: From recruitment to retention, HRMS helps the organization in human capital management through cloud-based AI algorithms. It detects anomalies in the behavioral pattern of employees and notifies HRs or relevant managers with the forecast about possible resignation trends. This is done through ML algorithms embedded in surveys and employee feedback modules. HRMS solutions can also provide analytical information to tackle high attrition rates.
HRMS platforms are a great addition for businesses, small or large. Especially for startups, HRMS systems can provide cost-effective solutions to rather resource-intensive processes. ZingNeo is one such HRMS platform that is designed for small-scale businesses. Learning from years of expertise in cloud-based HRMS systems through ZingHR, ZingNeo provides a one-stop solution to all-day-everyday HRMS needs of organizations across numerous industries. To learn more, you can write to us at email@example.com.