Benefits of Integrated Workforce Management System
Adopting integrated workforce platforms for HR functions can result in tremendous business benefits. This implies transitioning to a system that provides single window access to centrally housed consolidated data. Every stakeholder in the business, whether employee or client, gets the very same view on online or mobile platforms.
For covering day to day tasks of HR, you can make use of an integrated workforce management system. This is a specialized software that takes care of HR activities.
Following are its major benefits.
HR executives in many companies get bogged down by paperwork and routine administrative duties. But by using an IWMS, they can:
The software helps to get rid of the paperwork linked to HR operations.
Speeds up document creation
The software helps the HR manager to keep all employee information in one place and create documents fast, based on this information.
The IWMS helps to save time by rendering all information saved in one place and structuring all tasks of administration.
A KPI (Key Performance Indicator) is a tool to measure the value of how employees or the total company are accomplishing business objectives. The most vital KPI’s that can be monitored by IWMS are:
Duration of holding a job
If an employee stays too long in one position, his work may stagnate. The IWMS alerts managers about when employees are due for promotion.
Retention of employees
When employees quit, it adds a lot to company expenses. The software system helps in monitoring the retention of talent and also any formal retention strategies.
The software system keeps track of attendance and time details like sick leave, delays, etc., without making any errors.
Time for goal achievement
This KPI is a measure of the workforce’s efficiency and how much time it takes employees to accomplish goals.
Overall efficiency is improved by decreasing repetitive tasks of administration and automating some of a company’s processes. Employee management can be improved in the following way:
Attendance and time management
This attribute monitors employees’ work hours and ensures that they are paid accurately for any overtime work. Without IWMS, details cannot be recorded.
Management of training
These attributes monitor and report on training programs for employees. It helps organize curriculum, records, grading, schedules, and history.
Errors in payroll can ruin a company, so good management of payroll is of great importance. The software system helps control the schedule of pay, calculate paychecks, and ensure that everything is accurate.
With the help of this software system, companies can gain 360-degree feedback on employee performance in real-time. Such data can help in gaining deeper insights into features like planning of professional goals, rewards, compensation, etc.
Boosts self-service by employees
Employee self-service is one of the most coveted features of the IWMS. Most of the time, employees have doubts about leaves, salary, conditions, terms, etc. It is very tough for the HR department to address individual queries. An automated system offers a better self-service option for employees where they can gain information on their own by accessing the common software system.
These are some of the benefits of an integrated system of workforce management.