HRMS Software - TecWork

Key Modules of HRMS Software that Every HR Needs

Sanjay Panjwani on June 24, 2021

“HRMS” is actually a very ambiguous term. While some vendors describe it as an employee database with limited scope and functionality; one that can be loaded with modules designed to serve specific HR functions, for some others it is a system with a broader scope, with different modules being packaged together in it.

In whichever way it may be defined, the HRMS must help an HR department operate as a well-oiled machine, which can eliminate all the error-prone manual processes, and add value to the HR function by automating all those processes and tasks.

More than just acting as an information hub or managing capital and finances, the HR software, with the help of its modules, should efficiently deal with every HR-related aspect of the business, empowering HR managers manage people and assets single-handedly.

Modules play a key role

Irrespective of your organization’s size and type, an HRMS software unifies different aspects of your HR function in one place to enhance efficiency, increase usability, bring down the operational costs, and offer scalability to grow as the business grows. This essentially is made possible through its different modules.

However, many organizations find themselves stuck with a software that offers limited functionality and consumes valuable time, simply because they aren’t aware which modules the software they use should have.

But worry not, as this blog will elaborately explain different HRMS Software modules that are in the wish list of every HR manager and constitute an ideal and complete software.

Modules that every HR needs

As per the survey carried out by Skill Road Technology, companies having proper, outlined recruitment and onboarding processes experience 82% higher retention of newly recruited talents. This perfectly states the need of scripting a modern approach towards hiring employees.

Recruitment & Onboarding:

Over the years, a significant rise has been recorded in the hybrid and remote working models. And the need to conduct the operations remotely has forced the companies to digitize the selection process.

However, even before the outbreak of the pandemic, many companies were going remote due to their multi-city or global presence.

Therefore, your HRMS System must digitize all the processes of recruitment, including accepting applications, selecting, screening, shortlisting candidates and scheduling interviews.

Furthermore, onboarding too is a significant process and thus should be useful and a memorable experience for new hires.

In its traditional approach, onboarding involves a lot of paperwork, making it cumbersome and uneventful for both employees and employer.

Thus, an HRMS solution, including a recruitment & onboarding module, is useful as it digitizes the process and enables managers to add new employees in the system, verify background, import documents, etc., in a snap.

Leave Management

Corporate HR managers need to be prompt while managing leaves of employees working remotely or onsite. Thus, a dedicated separate module for leave management is essential for a perfect HRMS.

It helps keep a digital tab of causal, medical, earned, and complementary leaves, and ensures their easy and quick application and approval. Additionally, this module also helps managers keep an account of unpaid leaves and half-days.

In a complete HRMS package, this attendance module is seamlessly integrated with the payroll system that makes the complicated processes like salary deductions and leave encashment a cakewalk for the managers.

Time Management

Recording attendance of employees in present times has become a critical part of HR management.

The modern day HRMS, equipped with such efficient module, comprises of various tools, including both biometric and digital punches that facilitate better timekeeping.

Along with the most obvious service of clocking in and out, following should be the must-have features of your time & attendance module:

Schedule multiple shifts and manage their changing time slots.
Compliance to working hours and mandatory breaks in between.
Robust reporting using recorded data.

A study by Employee Benefits News presented that it costs 33% of the annual salary for losing an employee and replacing with new one.

Performance Appraisal

Employee retention, no wonder, is far better than frequently replacing your talent pool. Thus, regular performance reviews and timely appraisals deliver a more engaged and loyal workforce.

As per the survey carried out by a well-known job site Glassdoor.com, approximately 35% of the total 900 respondents would look for new job if they don’t get a deserved pay hike.

In such scenario, it becomes an absolute need for HR managers to revamp their performance management processes and replace the traditional strategies.

A new-age and digitized solution is required to track performance, give timely feedbacks, and give pay raises.

Expenses and Payroll

One of the essential domains of any business that influences its profitability is payroll and expense management.

Salary bars and monthly calculation for employees is based on the payroll system acquired by the organization.

Mentioned below are the most sought-after combo of features of the payroll module your HRMS software must be incorporated with:

An established integrated channel with accounts department to minimize calculation errors.
Mechanism to record and retrieve files and pay slips of employees.
System to keep a track of organizational expenses for carrying out in-house activities.
Automated calculation of overtime pays and reimbursements.
Effortless computation and management of tax deductions.

To Sum Up

The above-mentioned modules, along with a few secondary ones not covered in this blog, collectively build the best-in-class HR Management Software, which is a dream of every HR manager. And to make this dream come true, TecWork HRMS was designed.

It’s a one-stop solution to combat all the organizational challenges and inefficiencies faced while managing people and assets. For a detailed product tour, write to our experts to arrange for a free demo, or for a no-obligation discussion.

How does HRMS Software Support Performance Management?

Sanjay Panjwani on May 18, 2021

For any organization, the performance of its employees builds the efficiency of their respective departments, and that collective efficiency eventually decides the success rate of that company.

Thus, for the corporates, keeping a tab on the performance metrics of their employees becomes crucial and pivotal.

In this regard, the traditional techniques involved in measuring employee performance, including just the KPI reports that are filled once in a year, don’t contribute much.

Hence, it becomes important for that organization’s HR management software to be equipped with a dedicated Performance Management tool to monitor and manage the performance of the workforce.

Need of Performance Management Software in 2024

The pandemic has changed the nature of work forever, and corporates are still switching between the on-premises and remote working. However, managing both the work models simultaneously becomes a hard nut to crack for HR managers.

They need to change their strategies accordingly, particularly for tracking employee performance and measuring productivity. Thus, establishing a common process, irrespective of changing work pattern, becomes an absolute requirement.

Corporate factors impacting the performance

Employees, round the globe, share similar feelings and have same requirements and needs.

Thus, taking the global business environment into consideration, we have tried to list down some of the factors responsible to influence your performance metrics.

Employee Engagement

According to a survey conducted by the leading employee communications & advocacy platform Smarp, 71% of business executives feel that employee engagement is crucial to boost the performance and company success.

Furthermore, the study revealed that US companies lost approx. 400-500 billion dollars each year due to the disengaged employees in the organization.

Thus, in a nutshell, it is important for organizations to keep their workforce engaged in corporate or other activities, especially when they’re working remotely.

Employee Retention

It is actually harder to retain the employees than hiring them, approx. 63% of the companies participated in the survey feel. Hiring employees for a short-term period results in wasting your time, money and resources.

Also, along-serving employee becomes a valuable asset for the employers, well-versed with company’s rules and working. Thus, losing such gems is always difficult for organizations too.

Now the big question arises that how to increase the loyalty of employees towards the organization. Appreciation and satisfaction at workplaces keep your workforce motivated.

Timely appraisals should be conducted by the companies, which again calls for an automated Performance Management Software.

Is it a time for testing the Waters?

There are multiple HR management software available in the market, making selection of the best-in-breed solution difficult for businesses.

Moreover, companies don’t have ample time, money and favourable environment to test the efficiency of different software. Thus, to go with an experienced name makes perfect sense to them.

One such HRMS is TecWork HRMS, equipped with the Employee Performance Management Tool. Backed with years of experience and satisfied clientele, it is the perfect solution to assess performance and measure productivity.

However, we’re not recommending you to trust us blindly. Below we’re presenting the features of TecWork HRMS that help companies make performance management as seamless and effective as possible.

Daily monitoring task-sheets

As discussed above, continuous mapping of performance-related data is more beneficial for the employers, rather than just relying on the annual reports.

The solution for this is in-built daily task-sheets offered by TecWork HRMS.

Tasks done and hours spent in accomplishing them can be easily mentioned daily, and subsequently monitored and tracked by the management.

Daily attendance and breaks

Yet another performance index important to monitoring performance of employees is the daily attendance and breaks.

Whether working from home, on-premise or opting for a hybrid working model, HR managers, having TecWork HRMS, will never find it difficult to track the attendance.

It offers both biometric and digital attendance punches to record accurate time. Additionally, managing breaks is also a critical issue faced by the HR managers.

It has been consistently reported that employees utilize more than dedicated time for lunch and tea breaks.

Project status

TecWork has solution for that too, as punches for breaks can also be added in the daily attendance system.

This will either make your employees strictly follow the pre-defined time, or compensate for the extra time consumed.

We’re not done yet with the features of TecWork HRMS Project allotment is yet another offering to evaluate performance.

Managers or team leaders can allot tasks to their teams and can also check the status – completed or pending.

Wrap up

So, this blog perfectly explains that the right technological tool like TecWork HRMS when deployed to manage people and their performances can help construct the most efficient and progressive workforce. So, what are you waiting for? Get HeRd today! For more info, Contact us.

Learn How HRIS is Different from HRMS

Sanjay Panjwani on November 13, 2020

Acronyms are often confusing. Talking generally about the marketers, they have this irresistible urge to turn their products into an acronym.

On one hand, some acronyms have more than one meaning (like BPM could mean both business performance management, and beats per minute, depending on whether you are a management person or a musician).

On the other hand, there are multiple acronyms that have a common meaning. And these terms are often very conveniently used interchangeably.

This adds to the confusion, making it hard for people to distinguish them. A similar situation arises when it comes to describing the HR software — HRIS and HRMS, as the two are considered to be the same thing in most HR circles.

But is it really the case? Are HRIS and HRMS the two sides of the same coin? What do the terms really represent?

Does each of them serve a unique need in HR management?

Or is it just a confusion created by industry operators like vendors, marketers et al? This blog post hopes to straighten things out a bit, so that you have an easier time selecting the right solution for your business.

The basics

Before getting into the HRIS vs HRMS debate, it is important to understand what the two terms stand for.

HRIS, or Human Resource Information System, deals more with the information that doesn’t change very often.

For ex: employee information such as residential address, educational & professional qualifications, and other details that remain constant are a part of HRIS.

An HRIS system, thus, manages the information of a business’ people, procedures and policies.

HRMS, Human Resource Management System, on the other hand helps businesses track variable data such as performance of an employee, recruiting, onboarding, reporting, payroll, and other such personnel management related tasks.

It deals more with employee lifecycle management processes.

HRIS vs HRMS?

At the core, both HRIS as well as HRMS solutions act as HR management software. Acting as the single source of workforce information, they automate an organization’s HR tasks and processes.

They both house master employee data which the HR department requires to conduct its key HR processes.

These systems may also include other important HR functions such as training and development, applicant tracking, and some self-service options.

However, both HRIS and HRMS are predominantly associated with the core HR functions.

But if you talk about what separates the two, the basic difference is that of scope. The HRMS is a broader concept, and its features and functionality overlap that of an HRIS system’s.

The other aspect that distinguishes one from the other is the use of information. While an HRMS holds dynamic information like attendance, leaves, payroll, performance appraisal, etc., HRIS holds static information.

In sum, both HRIS as well as HRMS serve as the hub of HR and employee data management, and share this data with the spokes, i.e. other software applications deployed by the businesses.

Safe to say HRIS = HRMS?

The answer to this question depends. There are multiple viewpoints. There is a line of thinking that differentiates the two systems on the basis of timeline, claiming both an HRIS and HRMS are the same systems, and while the former was a concept of the 80s and 90s, the latter is the more advanced, and the developed and contemporary version of the former.

Then there are the HR management software vendors and the savvy marketers, who conveniently coin new terms for different software, simply to match what people commonly call them.

HCM/HCMS, which stands for Human Capital Management System, is a classic example in this regard. Many consider it as the latest avatar of the HR management systems, while for many others, it remains just another glossy term.

From the prospective client/buyer’s point of view, HRIS can be known as HRMS, and reverse. To them, there’s nothing really in a name.

What they do care about is whether or not they get all the best features possible. Till the time they’re getting all the functionalities, it doesn’t really matter whether it’s the HRIS, HRMS, or even the HCM for that matter.

What matters to your business?

Now we know the HR vendors, analysts & consultants, and marketers can have their own separate terminology for the HR management systems.

But what matters is what features an organization needs from the software, and whether a particular vendor can deliver it or not.

Most forward-looking business opt for a contemporary HR management software which covers the features offered by an HRIS as well as HRMS.

It can thus be said the systems that are in demand are usually a combination of both HRMS and HRIS. Such single system ensures that both the HRMS and HRIS tasks are taken care of.

It can be called whatever, HRMS or HRIS, but the bottom-line is that it helps HR managers to automate, track and analyze employee and staff related data efficiently and effectively.

Before selecting an HRMS, it is always wise to ensure that it not only has HRMS features, but also the static data crunching abilities which an HRIS offers.

Which system should you choose?

In order to decide that, you must assess your organization’s needs and determine which solution best aligns with it, and is most beneficial to it.

No matter what your organization’s size and type is, such software unify different aspects of your HR function in one place to increase efficiency, improve usability, reduce operational costs, and offer scalability to grow along with your business.

Going by the current trend, the term HRMS is being used extensively by the marketers, since it has been in demand.

The best HRMS system, which also covers the HRIS system’s features, offers the following functionalities:

Dashboard
Analytics
Performance appraisals
Leave management
Time & attendance
Recruitments& onboarding
Payroll
Expense management
Background check
Self service
Asset management

How TecWork HRMS can help?

An all-in-one HR management software, TecWork HRMS can meet all the needs related to your HR function.

By automating all your HR-related tasks, and offering access actionable insights to build a better workplace.

It covers the features of both HRIS and a traditional HRMS- right from people management, data management, payroll management, attendance,and time management, to recruitments and appraisals.

Also available on a mobile App, it allows your employees to remotely access, update and interact with their data and get the HR-related jobs such as remote login/logout, and apply for leaves, claims etc. done through their smartphones.

It can also be deployed on cloud, and comes with a range of integration options.

Conclusion

Still not convinced about the difference between HRIS and HRMS? Don’t worry, you are not alone.

Even the industry veterans find it difficult to establish a difference between the two, and continue to debate the terminology.

But what is important here is to understand which system works best for your business.

We believe, TecWork HRMS does. Connect with our experts today to fix a free demo, or for consultation.

They’ll surely help clear the mud from the water as you go about your research for the best HR management system, which we’re confident will end at TecWork HRMS.

Boost Productivity of Employees using HRMS Software

Sanjay Panjwani on October 8, 2020

No matter what the type and size of any business organization is, improving productivity and achieving growth have to be the foremost goals. These goals can be achieved by improving the employee productivity consistently and continuously, as highly productive workers can help an organization grow significantly. Needless to say, productivity levels can make or break a business.

So, it is important for the businesses to keep the workforce productivity high. There can be a number of reasons because of which the employee productivity can go down.

Distractions at the workplace, or at home, poor management, the missing connect due to lack of engagement, and more.

Whatever the reason may be, it is important for businesses to not just address the underlying cause for low productivity, but also to bring in measures to improve the productivity.

Technology-backed automation tools can be of good help in this regard for a wide range of firms, regardless of their size, business-type, and objectives.

Tens of business tools, or one integrated solution HRMS?

Many businesses opt for disparate HR tools. One software to manage the payroll; the other to handle recruitments; another to manage time and attendance. However, operating with too many software can hamper the productivity in the long run, with issues such as high cost of maintaining multiple software, scattered data, and inadequate overview hurting the business.

The results of a conducted survey revealed that 43% of the businesses that participated in it believe they’re currently switching between too many HR applications to get their basic work done, whereas 67% of the respondents who took the survey stated they could be more productive if they worked on a single application.

That’s where one integrated solution human resource management system (HRMS) comes into play, helping organizations eliminate manual method-induced redundancies, and free up valuable time for their key assets.

It not just helps any organization make its workforce more productive, but also makes the HR function more robust and effective.

Through this blog, we’ll take a look at how an HRMS system achieves both these things, and thus improves productivity:

Makes workforce productive through:

Automating tasks:

Analytics:

Employee self-service:

Access to real-time data:

Makes HR function robust & effective:

Another way of improving workforce productivity is by ensuring the productivity of the HR team, which forms the core of any organization. It not just manages functions such as recruitment, payroll, performance appraisals etc., but also plays a crucial role in policy & strategy formulation, and creating a healthy work culture, which in turn boosts workforce productivity.

But the HR department is often overburdened with manual tasks including paperwork, leave & attendance management, and so on. This prevents them from operating at full capacity.

This is where an HRMS software helps by automating their day-to-day tasks, and allowing them to devote time and resources to more strategic initiatives to improve workplace productivity.

Take a look at what all it can do to boost the HR team’s productivity, and in turn, overall organizational productivity:

Payroll management:

Recruitment management:

Performance appraisal:

Time & attendance management:

Employee management:

Conclusion

These are some of the many ways through which HRMS system improves the productivity of the workforce, the HR department, and the organization, in general. It expedites processes, eliminates unproductive & repetitive tasks, and introduces efficiency across the organization, thus driving productivity.

If you’re looking for HRMS software to improve productivity, here’s one such software TecWork HRMS, which checks all the boxes.

Advantages of Payroll Management Software for SMEs

Sanjay Panjwani on July 29, 2020

Small and medium enterprises (SMEs) never find it easy to run their business operations.

For them, it becomes a bit daunting to handle the front-office as well as back-office operations efficiently at the same time, with their employees sharing multiple roles due to the limited resources.

In such a scenario, automating tasks with the use of business tools helps them big time.

Such tools improve the efficiency of their processes, facilitate strategic decision making, and streamline the operations through smart task delegation, thus enabling them to get more done with the resources at hand.

One classic example is the payroll management software

A complex process to handle, payroll can get more complicated when handled manually.

Ensuring that the salaries of all the employees have been computed accurately, taking into consideration all the variables such as reimbursements, leave, attendance, etc., is no mean feat.

And despite all the meticulous care, if the guy managing the payroll still makes an error in computation, the rectification process thereafter could be tedious and time-consuming.

That’s why most of the small/medium businesses outsource it. But using payroll software, SMEs can save costs, time, and other valuable resources that can be deployed elsewhere.

A payroll system has plenty of benefits for SMEs, as it significantly impacts their bottom-line, speeds up work, streamlines workflows, rids them of human errors, and helps become more productive on the whole. Below, we discuss 12 of the biggest advantages of using a payroll software for your SME. Read on:

Better accuracy-

Making a mistake while manually processing payroll could prove costly for SMEs, attracting huge penalties if it’s made on the employment taxes front, and even a legal action if it’s made in an employee’s salary computation.

An automated payroll software easily calculates the withholding tax as well as salary for every employee based on data entry, and eliminates the risk for human errors in payroll.

Save time, money, and other resources –

Managing payroll manually can eat-up a lot of time. But by using payroll software, small businesses can automate the payroll process, and save their employees’ precious time.

Also, being available on Cloud, it can be availed on a monthly, quarterly, half-yearly, or on annual basis, thus delivering cost savings.

The resources (time, money, & manpower) saved could be better spent on other areas of the business.

Data security –

For any business small or big, payroll data is sacrosanct. Due to its sensitive nature, as it contains key information such as mailing addresses, bank details, etc., there’s a need to secure it.

A good payroll software can securely lock down your payroll data, and protect it from potential threats.

Handy during audits –

For any business, it is an absolute necessity to have an audit trail for all its financial aspects including payroll.

Only a payroll system can guarantee a completely transparent audit trail in a matter of minutes, providing logs of salary and other payments, and details of taxes and other rates, and proving all transactions were proper.

Handy during audits –

With every passing year, the tax tables and superannuation rates will continue to get more complex, making it difficult for small businesses to comply with them.

But a payroll software can keep updating its system to stay on top of federal and state requirements. It can also save you time by paying employees electronically when processing payroll.

Reports generation –

While manual methods and ways always keep you occupied, often providing incomplete and inaccurate data, gives you inaccurate reports. A payroll management system provides you with multiple reports, such as reconciliation reports, MIS reports, customizable payroll statements, and other statutory as well as user-defined reports.

Easy integration options –

SMEs often find it difficult to switch between operations while working on disparate systems for data such as leave, attendance, and employee information, for processing payroll and calculating taxes.

However, a good payroll software, ably supported by a strong integration framework, acts as the single source of truth for all dimensions of an employee, saving them a lot of data entry and verification time.

Simple and fast payroll reconciliation –

A payroll management system offers small businesses with a variety of payroll reconciliation tools, allowing them to verify accuracy in each payroll, compare current and previous month’s payroll, and also customize salary register and payroll statements as per their needs, besides ensuring an error-free payroll.

Scalable –

Scalability is yet another advantage a payroll management system provides to the small businesses, which may not remain an SME forever.

Once a small business starts growing, the system allows it to add new employees whenever necessary without any additional effort.

Employee satisfaction –

Resorting to disparate systems, or worse, manual methods put extra pressure on the employees and consume a major chunk of their productive time.

But by using a payroll software, an SME can automate the processes, increase the efficiency of the operations, eliminate the chances of errors, and most importantly, make jobs easier for employees, thereby enhancing their satisfaction.

Ease of use –

A payroll management system is easy to use, and any person without much technical know-how can use it. It doesn’t require any specialized training or an accounting background.

Besides, any payroll software that’s available on Cloud, can be accessed from anywhere, and anytime, in a secure manner using an internet connection.

Uninterrupted support –

When SMEs use paper-based payroll systems, or do things manually, they basically rely on the employees who manage them.

But what if the employees leave? A payroll software system offers benefits such as continuous, 24×7 customer support, to resolve the problems experienced by the users while using the software.

Conclusion

Paper-based payroll systems and manual methods are things of the past. Investing in payroll management software, which comes with the benefits mentioned above, is the need of the hour for the SMEs.

If your SME is still stuck in the past, get in touch today to make the switch to Tecwork’s HRMS, a secure & reliable payroll software that can manage other HR-related operations too.