Human Resource (HR) is one of the core departments of any organization and plays a very important role in the growth of both the company and the people working in it. It follows therefore that an efficient system needs to be in place to manage all activities regarding the employees, their work and all information associated with it. In today’s heavily interconnected world, the work and scope of HR has evolved beyond hiring and maintenance of contracts to more complex things like culture of the workplace, retention of employees, leave and timing management, and other more influential factors.

Software Solution:

This is where a HRMS software steps in and brings automation, consolidation of information and efficiency to the fore. A comprehensive HRMS software like Neoxcel Teams has the ability to transform HR departments into modern, productive ones with the ability to put information and task management at employees’ fingertips while breaking down bureaucracy and enabling self-service. 

HRMS vs. HRIS vs. HCM:

HRIS (Human Resource Information System) is derived from MIS (Management Information System) but specific for HR. It is a term coined in the 90’s when technology was different to what it is today. HCM (Human Capital Management) is a more general term that relates to how an organization manages their employees which is what makes human capital. HRMS (Human Resource Management System) encapsulates both HRIS & HCM and is more prevalent as applied to a software solution like Neoxcel Teams. All three terms are used interchangeably by software companies and are indistinguishable from each other as of today.

Need for HRMS:

Any company or organization, be it a startup or a large enterprise, depends on humans to grow and evolve. A HRMS software gives it an edge because it automates a lot of mundane tasks, and digitalizes a lot of procedures and processes while freeing up time for other employee & organization enhancing activities. A company’s growth is known to be directly proportional to the efficiency and happiness of its employees and a good HRMS software enables this shift in strategy and also increases productivity simultaneously.  

Benefits and Features:

·         Streamlines business practices thereby increasing productivity.

·         Centralized and safe storage of employee data for better security and efficiency.

·         Payroll management without tedious paperwork or human errors.

·         Leave management and daily time tracking reports at the click of a button.

·         Managing recruitment via online applications and progress tracking to onboarding if selected.

·         Performance management of employees through a centralized, compartmentalized system.

·         Employee self-service enhances efficiency multi-fold.

·         Training & Development of skills for employees leads to their growth and better retention.

·         Analysis of employee data via reports for enhanced strategies.

Implementation & Integration:

Once you have chosen a HRMS system like Neoxcel Teams, the next step is to implement & integrate the software into your company’s existing system. This is a delicate and time consuming process unless the Senior Management and HR team leaders are co-opted to oversee it. A SaaS based system ensures minimum time lost in the implementation part. It is important to work closely with various departments to ensure safety of data. User training is also an essential part of making the HRMS software a success.