Why HRMS is becoming a must-have management tool for startups & SMEs?

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hrms for startups

Management is the key to any business’s success. For generations, companies have built their legacies on the back of a very proactive and visionary management system that knew how to play odds and took the right calls at the right moment. But as the global market became more and more competitive, the management landscape became extremely crucial but so did the workload of split-second decision making. And with increasingly arduous amounts of liquidity at stake, the employee management system had to take a back seat, until interconnected and integrated HRMS systems came onto the scene. 

An HRMS system is a multidimensional and multifunctional software integrated platform that provides smart business solutions for a business’s HR requirements that lead to increased productivity, efficiency, and resourcefulness. Taking it on a broader scale, HRMS systems provide smooth connectivity and information flow benefits for different teams spread across expanded geographies (most probably). It helps in better management of employee processes, a centralized hiring solution, and effortless payroll processing. For bigger firms, HRMS systems help HRs and top-tier managements get a better hold of their company’s human capital assimilation so that they can properly channel their employees through skill-based assignments. It also leads to e-learning opportunities for employees for obvious skill development purposes. 

But focusing attention on SMEs and startups, it becomes pretty easy to visualize that these young firms lack the deeper pockets of industry behemoths. And accordingly, they need a very efficient HRMS system for proper channeling of resources to improve their foothold, and consecutively, profitability. Let’s look at this through an example: ZingNeo is an HRMS system from the family of ZingHR which is a Microsoft-funded startup in the automated HCM space. ZingNeo’s USP is its focus towards SMBs, SMEs, and startups. Now, when a small business adopts ZingNeo for its management, the platform effortlessly integrates with the company’s entire organizational structure within a couple of weeks. After accurate business mapping, the firm gains specific access to payroll processing platform, employee portal, hiring and retention analytical metrics, employee performance evaluation portfolio, skill-based employee engagement maps and more. Apart from these built-in features that lead to productivity benefits, ZingNeo helps in resourcefulness processes as well. For hiring processes, ZingNeo helps to accurately shortlist candidate resumes based on job requirements, through robotic interviews it conducts multiple interviews simultaneously and provides an unbiased critical character assessment of candidates to the HRs (or founders), and through digital onboarding helps in a hassle-free easy step by step induction of new joinees. This leads to an accurate and superfast employee hiring protocol. Similarly, when startups hire and invest in employee’s skill development, they obviously don’t want to lose out on them. And hence, ZingNeo provides an analytical overview for resignation trends of individual employees through behavioral tracking and helps the firm in keeping the attrition rate in check. ZingNeo’s zero-touch payroll system even helps in tracking financial components of the firm for effective budgetary management. 

There are various other reasons why HRMS is viewed as a must-have for SMBs, SMEs, startups and small businesses. But we can hardly say enough before the article gets boring. Why don’t you check it out for yourself by visiting us? We are proud of this software offering which is the best HRMS software solution out there. Know more about us by trying us out. And book a free demo by dropping a line at info@zinghr.com. 

This article is presented through an independent perspective from ZingNeo. ZingNeo is the go-to ultra-modern HRMS solution that is backed by Microsoft. It is fully equipped with AI-enabled cloud-based analytics and intelligent HR solutions to help firms in various HR activities. For more information, book a free demo by dropping a line at info@zinghr.com. 

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