HRMS or Human Resources Management Systems have grown in popularity with the digital age. A good HRMS aids the HR department in multiple ways by being able to handle most of the common responsibilities. One of the major challenges of HR is retaining employees. A good HR software will only be able to provide the data required for analysing the employees. However, a ‘great’ HRM software will also be able to analyse it using artificial intelligence and predict which employees will stay and who will leave, thus providing more time to HR for developing strategies to retain them.
Let us have a look at some of the major ways HRM software helps in retaining the staff:
Improves employee engagement & HR efficiency:
HR software nowadays consists of various modules such as an ESS Portal which greatly increases the employee experience. Modern technologies such as smartphones and high-speed internet help the employees even check their payslips, annual attendance, remaining leaves, etc. remotely without ever bothering their HR. Moreover, this can be done whenever required irrespective of the time of the day, thereby greatly improving the employee engagement rate. All of these factors also contribute to enhancing HR efficiency since they can invest the time saved in other important HR duties. They will also have access to the required data at their fingertips whenever required, thereby removing all hurdles in helping their employees and the organization.
Tracks employee performance & recognition:
Modern HR software has the option to monitor the employee performance and the better ones even suggest when an employee needs to be recognized for their services. With the lack of an HRMS, this needs to be done manually and any HR would tell you how much of a hassle it is to keep track of the performance of the employees daily, especially in the case of larger organizations. With good HR software, this task becomes a breeze as the software itself is analysing the employees and providing the best candidates which even helps with internal promotions.
Helps you understand why employees leave:
It is found that HRM software is better at getting honest answers from the employees who leave than a face-to-face exit interview. This is attributed mainly to the fact that the employee can provide honest feedback discreetly. However, for HR, such honest feedback is invaluable as it helps them understand the gaps in their retention strategies and improve them to bridge those gaps. Combining this data with predictive analysis of modern HR software also means that the HR would be able to make calculated guesses as to who is planning to leave the company and ensure that they remain using targeted strategies.
Monitors the long-term employees:
The long-term employees are the ones who need to be monitored as they might tend to leave at a lucrative opportunity. However, they are invaluable to the company as they would know the internal working and their work experience would make them excellent candidates for poaching. In such cases, a good HRMS becomes the friend of HR by being able to conduct surveys for gauging employee satisfaction, develop feedback cycles and analyse the results to understand the crucial factors that are making these employees stay longer with their current company. Acting on this information will also ensure that these employees stay longer as they are content with their current firm.
Utilize artificial intelligence &predictive analysis:
Modern HRM Software can make calculated guesses as to which employees are planning to leave based on several factors and previous experience. The predictive analysis feature of HR software enables this functionality, which in turn helps HR target those employees and make them stay longer at the company. Similarly, the usage of artificial intelligence in HRMS has already been proven to be a turning point in their evolution as they can be applied in a variety of scenarios concerning HR. AI can also help in analysing the prevalent employee turnover trends and combining it with predictive analysis helps in taking the necessary measures to ensure that the staff who were planning on leaving, stays back!
In conclusion, it is evident that ‘data’ is the keyword here as HRMS solutions are using their capacity to parse, understand and process the data to make it meaningful for HR. HRM software is not only helping in retaining the employees but also using this data to enhance the overall functionality of the HR department as a whole, thus ensuring both the employees and the employer remains satisfied.
Author Bio: John Paul Davis is a content writer with Pocket HRMS, an innovative cloud-based HR software provider in India with over a decade of loyal clientele. His handiwork usually reflects the latest technologies in the HR domain.