Technology as the pillar stone in the expanding HR Industry of India

HR technology has taken over the world of work. Technological advancements have transformed the entire world of work. Each application aims to automate the repetitive tasks performed by HR professionals. HR software in India has been one mending the employees life cycle. The employees can update the attendance with the assistance of the application. There are tools that encourage building a transparent application.

 

Let's list a few tools that assist in mending a healthy workspace:

Employee information

Data is considered to be an asset in the present generation. It is the employer's responsibility to data related to employees' information on a secure platform. As employees data includes personal information such as bank details, permanent addresses, medical information. If this data falls in the wrong hands it may cause cyber crimes such as identity fraud , etc. this is why the employer keeps an eye for a secured platform to store such data. One such platform is HR software. HR management software provides the employees with a very secure platform to store data. It empowers the employer with customary access to manage the rights of the employees. The HR technology in 2021 has enhanced these customary options to elevate the experience of the employer and the employees.

Benefits management

It is often witnessed that each organization has its own set of policies to benefit the employees. Many new joiners or even the existing employees might not be aware of the amendments or the policies of the organization. HR software empowers the employees to take care of any such proceedings. The employees can easily track such benefits and maintain a healthy working environment within the organization.

These are a few tools that have set HR trends in the recent past. This has made the organization functioning without the application ponder over opting one seamless application.

Adopting HCM Software Market 2021

The COVID-19 pandemic has accelerated the use of HCM software in India. However, businesses have been investing in human capital management software in 2021 more than last year. Almost every industry, from healthcare, financial to manufacturing, has adopted such systems that have led to a dramatic growth of the HCM software market.

This is when a big question comes into the picture, why are businesses across India switching from manual tools to automated HCM systems? The simple answer is that such solutions make HRM simpler and efficient for businesses even in a hybrid environment.

Here are the top three ways HCM software is helping companies:

Boosts Efficiency Levels

HCM solutions, first and foremost, make HR professionals more productive. Since such systems are fully automatic, they require a bare minimum of human intervention. That means HRs will just have to give the necessary input and the system will do the rest. This way, HR managers save time and energy that can be put into other value-adding and revenue-generating activities.

Improves Compliance

HR departments are faced with an increasingly complex and varied regulatory environment. Amid managing a host of routine processes, HRs often do not find time to update themselves about the latest legal developments. Fortunately, HCM software auto-updates HR executives whenever a new law is introduced or amended, thereby helping them carry out operations with complete compliance.

Enhances Employee Engagement

Top-notch HCM systems also offer an employee self-service portal to empower employees. Using the ESS portal, employees can do several easy tasks on their own. From checking attendance to downloading salary slips, they will have autonomy on many things.

So, the aforementioned are the top three ways HCM software is helping HRs. Not to forget, these are also the reasons why more and more Indian firms are implementing such systems and increasing the HCM market lately.