Does your HCMS add HR business value? Or is it just one of those necessary expenditures that never pays for itself? At first glance, your software may seem like just a data management system. Input data; find it later when you need it. But the right system can do so much more than that.
HR managers everywhere rejoiced (if they didn’t, they should have) when HR moved into the digital stratosphere and made their lives easier.
Here’s why.
Yes, we said it. HR software can make you money. Even though it’s not a customer-facing solution, it still has the power to add HR business value by making your employees more profitable. Let’s look at three ways it does that:
Your business runs on the talent of your people. No talent, no business. So it’s vital that you hire the right people, and they will make your company the profitable machine you want it to be. HR tech can help you streamline that process by automating your recruitment busy work (the resume sorting, email sending, and information sharing).
Some systems include a built-in applicant tracking system (ATS) that can manage applicants and resumes throughout the recruitment lifecycle. As these systems have become more sophisticated, they have focused not only on the data side of the equation but also on the user experience side. For example, Ultimate Software’s job portal lets job seekers search by location, category, and date. They can also input relevant information about the job they want and their experience, and the software will match them with relevant positions.
On the HR side, UltiPro stores and manages applications and resumes, and will give applicants a score based on how well they match the requirements for a particular position. Hiring managers can rank applicants and assign a status such as Review, Interview, or Offer as they take actions on the candidate’s profile.
When you’re ready to bring candidates onboard, you need a strategy to integrate them into the workflow and culture of your business. Effective onboarding takes a lot more than signing all the right papers. Software companies like Vibe give you the tools to start your retention strategy even before your new hire attends his first team meeting.
Vibe uses wall-to-wall branding to give employees an immersive experience on your company website:
You can upload your own images, colors, logo, and more to make your page reflect your company’s culture. Interactive tools and social connections also help employees find the information they need, ask questions, complete onboarding requirements, and connect with co-workers.
The more engaged your employees are, the more productive they will be. That translates into higher retention rates and more profit over time. Your HR software can help with this step, too. Goal setting, manager and peer feedback, social platforms, performance review tools, and gamification elements like badges and leaderboards all help your employees stay on track with productivity goals.
Ascentis offers custom goal lists where both managers and employees can create goals, track progress, and offer feedback:
Many HR platforms also promote social interaction among team members using tools like forums, activity feeds, and team member profiles. That’s important, because social engagement on the job correlates with higher productivity, better morale, and lower turnover.
The value of HR technology can’t always be calculated in terms of dollars and cents (which is bad news for your cost/benefit analysis, but good news for your team). The broader business value you’ll achieve looks like this:
If that’s the kind of HR business value you can get behind, then maybe it’s time to upgrade your HCMS.
Ready to find HR software that supports your HR business value? Let us help! Check out our HRIS Comparison Tool and start your search today!