In any business, the most important resources are employees. After all, it is employees that make the products, speak to customers, and, in general, keep the business going. Of course, like any other resource, the “human capital” of your business needs to be used effectively and efficiently. That’s where the HR department comes in. Human resources professionals work to be a bridge between employer and employee, whenever problems arise, and they take care of payroll and scheduling. In a nutshell, HR is very much the nerve center of the collective employee consciousness.
Unfortunately, as HR Morning writes, HR departments take, on average, 28% of overall business expenses to keep on track. For many businesses, reducing that cost while keeping the benefits of a high-powered HR team is a top priority. Lucky for them, HRMS online systems exist to fill that need.
What is a HR System, What Does It Do?
HRMS stands for Human Resources Management Systems. High-quality HRMS solutions are built to facilitate the merging of traditional human resources applications with computer age technology, in effect, making HR more affordable and efficient in all of its functions. ERP solutions, Employee Resource Planning solutions, subsequently generated more than $45.5 billion in sales in 2012, as more and more companies realized the potential of HRMS online solutions.
What Are the Benefits of HRMS Online Solutions?
- Employee Portal Access
- Time Efficient Project Management
Perhaps the biggest benefit of using cloud-based ERP software is the implications to employee self service. Instead of constantly having to try and find time to meet with an HR professional, employees can visit a terminal set up with HRMS online systems and file a complaint, read business policies, and find out any other information that is pertinent to their jobs. By offering automated HR solutions, like HRMS online systems, to their employees, companies stand to save 15% on HR, according to recent statistics from Deloitte. Should businesses choose to take a further step and implement training programs through HRMS online, they can reduce their HR costs by as much as 40%.
Of course, with this renewed ease, critics are asking about the security concerns that might come with HRMS online. According to Becker’s ASC Review, HRMS online systems can be and have been successfully implemented into hospitals’ human resources efforts. With individualized passwords, both for systems and employees, company data can remain private, whatever the industry.
According to ProjectSmart, over 90% of all professional projects finish late. Ineffective time management, too much focus on results, and work-overload all contribute to this high failure rate. As any business knows, a project that goes over time is a project spending more money. With ERP solutions, like HRMS online, projects can be more finely managed and scheduled, leading to nearly 89% of projects being completed on time.
As human resources costs continue to grow across the board, more and more businesses will find themselves in need of an intelligent, effective solution. With HRMS online systems, costs can be greatly decreased while productivity is greatly increased. For businesses of all types, this computer age HR solution may be just the thing they’re looking for.