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Do you wish to automate and optimize your business tasks and activities? Investing in HR tech can be an ideal option.
Many SMBs are already HR technology as it brings cost reduction, flexibility, and scalability to business. It also saves time and gives businesses a competitive edge.
A study points out that 75% of talent and hiring managers are already using HR software to ease the process of onboarding and accessing data.
And many are embracing the latest technologies and have started using core HR systems. In fact, 75% of companies are using the cloud.
Another statistic shows that 40% of companies are replacing the old technology and migrating to cloud platforms.
If you are a small or medium-sized business, here is how you can leverage HR technology at full scale.
1. Simplify and accelerate the recruitment process
It is not easy to find talent and fill a position in a company.
Spotting qualified candidates is easily the biggest challenge in the recruitment process.
And to make it worse, the best candidates stay available for just 10 days before they are hired by a competitor. So you have to act fast or lose your ideal candidate.
HR technology can help move things faster in the hiring process.
There are applicants tracking systems with which you can build a database of qualified resumes.
You can search the database and call applicants when a position opens.
HR software can also help you to organize interviews, track feedback post-interviews, and rank candidates.
And in case you decide to add personality or skills assessments, you can track the results with the aid of the system.
It makes it easier for you to hire faster and recruit the right candidate in the right vacancy.
2. Monitor and manage current employees with ease
Managing current employees effectively is a crucial task of every HR department. By utilizing technology, a large portion of the unproductive manual tasks can be automated.
Your company can save lots of hours if you automate manual tasks for Time Management, Payroll Management, Leaves Management, and so on.
It can also take away the burden of updating the records manually.
As per the US Department of Labor, in 2017, about 3% of the employees were absent on any given day.
When you manage Absenteeism data manually, it can lead to conflicts between the employee and employer.
You can thus leverage the software packages and applications that are there to ensure organized management.
3. Provide Immersive Training, Learning and Development (TLD) to employees
To stay competitive, your company needs to update your employees with the most up-to-date tools and techniques.
Before, training employees and developing them used to be a tiresome task that demanded lots of time and effort.
But thanks to technology, today, you make out the shortcomings of individual employees easily and deliver tailor-made training programs to improve them.
The process has become quite interesting, effective, and less time-consuming.
You can provide crafted lessons via online videos, video conferencing, one-on-one sessions, case studies, and so on.
In a study conducted by Walmart to test the effectiveness of VR training, it was found that employees who underwent VR training reported 30% higher satisfaction at work, scored higher marks on tests 70% of the time, and saw a higher rate of knowledge retention by 10 to 15%.
4. Flexible integration for scaling the business
If you look at the HR products today, most of them offer integration features.
You can easily work and connect with external applications, services, and systems.
You can open and use the HR software with any other business or integrate it with office apps, document management solutions, online storage, CRM, communications tools, accounting services, and so on to upscale your business.
This integration feature in HR software can save you lots of cash as it eliminates the need to buy several apps.
5. Assist in communication
You can rely on HR technology for easy communication and collaboration, which are the top requirements in any industry.
Cloud-based HR solutions provide unequaled accessibility and connectivity.
It can speed up projects and processes and resolve issues quickly as it paves the way for clear and open lines of communication.
If you are utilizing online HR platforms, it works with third-party apps used for communication such as Skype.
Thus, real-time chat and messaging could be done.
Moreover, if you employ systems like HRIS, you will be able to exchange files and documents with concerned employees or departments.
And since HR mobile apps are available, you can work on the go.
You will be able to access information anytime from anywhere while employees perform HR self-service from their devices.
6. Manage document safely
When you use HR software, you can maintain all your information in one centralized, secure location and access it anytime.
It brings security as you can control who accesses what information.
Moreover, if you are using cloud-based talent management solutions, it can protect your data even during emergencies like a fire breakout.
Talent management solutions also allow you to manage your document.
For instance, you can know which employee reads what and when.
What’s more? Your productivity is increased when you decrease the exhausting paperwork.
You will also have access to old documents, and important training manuals can be archived simultaneously, allowing you to go green.
7. Find room for growth
Where do you want your company to be in 5 or 10 years?
Whatever your vision is, implementing HR technology that supports your HR strategy can get you there.
You just need to find a system that offers scalable services and features to assist your business in achieving its goals and adapt as they develop.
These are only 7 ways in which SMBs can leverage HR technology.
There are more.
Implementing HR software will bring you many benefits.
From automating daily activities to optimizing workflows and enhancing productivity, the benefits are limitless.
Moreover, it is flexible and scalable.
If you are operating a small business in Singapore, you will want to check out the business grants Singapore.
It supports SMEs in the adoption of pre-scoped IT solutions and equipment that increases productivity.