How do HR Tech Solutions Help Large Enterprises Drive Business?

They understand that technology can help them achieve their business goals. Many large enterprises have started using HR technology to optimize HR processes and procedures enabling functions & employees in organizations to meet their objectives. to meet enable. as a way to hire, train, retain, engagement, manage performance & compensation

HR technology is becoming one of the vital & important initiatives for HR transformation within the organization

What is HR Technology?

HR technology is the collection of tools and processes that allow companies to manage their human capital, including recruiting, onboarding, training, developing, retaining, managing performance, and compensation. HR data analytics has become essential for many large enterprises looking for ways to improve the efficiency of their workforce by analyzing employee behaviors daily. Implementation of HR technology is becoming one of the vital & important initiatives for HR transformation within an organization.

In this blog, we will explore what HR tech solutions are available to large enterprises, how they can help drive business success, and tips for making the most out of these systems. Let’s take some examples of HR technology solutions & understand how they can help drive business

• Recruitment & Onboarding:

“Enterprises are provided single window interface with prospective candidates for employer branding, posting open positions, creating a pool of applications/candidates, their assessment, sharing offers & role, joining documentation, etc"

In this module, enterprises are provided a single window with information regarding corporate culture, organization support for professional development, open positions, job descriptions & work expectations. Prospective applicants are attracted from different sources to this single window to create a large pool of candidates database, with desired skills & knowledge for selection. HR can assign customized assessments (aptitude, psychometric, etc.) to candidates followed by a personal interview, and candidates are kept informed on progress with automated updates. Enterprises can use this module to draft & share offers with the selected candidates. Further enterprises can do handholding & complete joining documentation, share roles & responsibilities, welcome letters, etc. much more before the joining date.

• Performance Management:

“Enterprises are provided with a dynamic interface that provides a unique approach of goal creation, continuous review mechanism, and individual development lead to benefits linking individual goal to company goals, establishing performing team and gives opportunity to evaluate both results in & efforts. “

This module enables enterprises to create business or developmental goals or KPIs (key performance indicators) at company, functional & employee levels. The goals or KPIs can be cascaded across all levels within the organization to establish a strong linkage between employee goals and company goals.

Further, this module provides a provision, at each employee level to add-task & define an action plan to achieve this goal, with the system to self-track the progress & take corrective action continuously, which is referred to as P-D-C-A (i.e. plan-do-check-act) method by Dr. Edward Deming. Here the enterprise manager provides constructive feedback to his employee that helps develop employee competencies/skills to achieve goals.

The system provides scores or ratings at each employee level that are assessed by the manager & moderated by the enterprise on a monthly, quarterly, and annual basis. These performance scores can be linked or used for decisions w.r.t role change, role enhancement, incentive pay-outs, increments, rewards, etc.

• Compensation, Benefits & Payroll:

“Enterprises can design ‘compensation & benefits in complex scenarios and use this for managing payroll, income-tax and statutory compliance”

This module enables enterprises to design ‘compensation & benefits (C&B)’ across different regions, locations, levels, grades, laws/acts, etc. The set C&B is used to run payroll across enterprises. No matter how complex the payroll system is there in the enterprise, this module makes it much easier by automating income-tax declaration, calculations & processing payments.

Further, this module automates and maintains electronic records mandatory in prescribed formats under different labor/ employee acts to ensure the enterprise is compliant and doesn’t have to face legal issues due to non-compliance.

• Employee Self-Service (ESS):

Is a module in which employees access & maintain their HR data concerning employee leaves, expenses, service requests, business travel, calendar, etc. The Portal allows many HR questions & transactions to be handled directly by employees. A well-designed ESS allows employees to make informed choices & to become self-reliant for many HR services.

• Manager Self-service (MSS): 

This part of the module allows supervisors to handle many HR transactions online & receive HR reports in real time. For eg: the manager will use MMS to authorize leaves, create reports, and complete PMS assessment & appraisal. Enterprise can choose the task to be delegated to managers via the MSS like authorizing expenses, approving leave applications, viewing & create reports, etc.

Enterprise can reduce HR headcount and save time by using ESS & MSS modules. This will enable enterprises to free their HR resources from transactional roles and focus more on organization development (OD) initiatives. With ESS & MSS, when an employee & manager handles transactions, HR budgets will see savings.

“Enterprises can use the umbrella of tools & choose the tasks to delegate them to employees & managers via ESS & MSS respectively to self-manage this tasks by themselves reducing headcount of HR or freeing these resources to focus on organizational development (OD) initiatives ”

• Discipline & Grievance Redressal:

“A module that enables enterprises to manage complaints/ grievances and proactively initiate disciplinary action in cases that falls in categories like insubordination, absenteeism, non-performance, POSH, etc. ”

This module provides enterprises with an interface to proactively capture employee complaints and respond with appropriate solutions. It provides an excellent database to analyze different categories of employee complaints/voices and gives opportunities to enterprises to relook at procedures or revisit policies.

In some cases where the complaints are grave or hampers business performance this module provides an opportunity to initiate appropriate actions like counseling, warning, show-cause letter, call for a domestic inquiry, etc.

The module also enables the enterprise to handle cases & matters under POSH (protection of sexual harassment) at the workplace.

Conclusion:

HR technology is becoming one of the vital & important initiatives for HR transformation within an organization. It has dramatically altered how HR services are delivered and managed. Some of these services include automated recruitment, onboarding, training, performance management, employee self-services (ESS), manager self-services (MSS), compensation & payroll management. When used effectively, HR technology can make HR staff more efficient, and better informed, and can add value to the business.

Research shows, organizations that combine effective HR management processes with effective HR technology are likely to be more productive and more profitable than those that do not. As a result, many organizations are seeing positive benefits from their investments in HR tech solutions.

Call to Action

Can I use HR technology at my enterprise/workplace to drive business? Are you using HR technology to create business impact or drive performance? We can help you understand gaps or design a road map for HR technology that drives business performance in your company.