Technology innovation has become quintessential for every small business. E-commerce, service providers, food industry, have all been bustling with the start-up boom, and much has been written about them.
With changing world of work, workplaces and the workforce are becoming hybrid. As a result, it has become necessary to bring in essential changes in how HR functions. And, the most significant facilitator in this transformation process was technology (Cloud-based HR software).
According to Grand View Research, the market for HRMS will reach beyond USD 10 Billion by 2022. The advent of cloud-based technologies like Software as a Service (SaaS) has taken HR technology to the next level.
But the biggest question of how to find the best HR software for SMEs is still prevalent among SMEs and their owners.
Let’s dig into what exactly is cloud-based human resource software and how it helps HR professionals in managing important and cumbersome HR tasks with zero hassles.
- What is cloud HR software?
- Advantages of using cloud HR software
- Is HR cloud software safe?
- HR in the cloud: An overview
- What is cloud hr software?
What is Cloud Based HR software?
Before answering this question, first, understand what cloud software is. Often referred to as software-as-a-service (SaaS), cloud-based software is not a product but a service that is not bought but subscribed to. The data is stored either on the software provider’s servers or in a data center meant for hosting purposes by the software provider.
Internet connection facilitates one to access their data from anywhere, anytime. All you need is to log in to the software with designated credentials, and voila! One can immediately start using it. The service provider looks after all of the technical matters viz., operation, troubleshooting, and ongoing development.
Now, apply the exact definition in human resource software. A cloud HR software unifies and stores data for a centralized platform, offering efficient, quicker, and easier HR management. Cloud-based HR management software provides specific HR functionality, like payroll management, recruitment, employee engagement, and more. However, the best choice is cloud HR software, which handles all aspects of HR. Simply put, an all-in-one solution to help HR save time and energy.
Advantages of Cloud-based HR software
Until a few years ago, documentation and administrative tasks consumed 80% of the time of HR personnel, leaving very little or almost no time for them to focus on the employees. However, the HR ecosystem has seen drastic changes in the start-up ecosystem. The HR role is no more restricted to the back-end office work, wherein HRs stay buried with paperwork. Today, HR plays a significant and strategic role in helping entrepreneurs achieve business goals.
Cloud-based HR Software Benefits
- Database Centralization
- Flexibility and Agility
- Time and Cost-Effective
- Accessibility Control
- Mobile Friendly
- HR Analytics
- Compliance Management
Cloud-based HRMS offer the following advantages to SMEs for hassle-free HR functions:
- Centralized HR management system: Cloud-based HR software centralizes all the HR and employee data in one place, no matter the size of your business, small or big.
- Flexibility: Agility is one of the prime offerings of cloud HR software for small businesses. This adaptable hr software efficiently meets the needs of your growing business.
- Cost-Effective: Rather than relying on the traditional and expensive on-premise software system, organizations can choose budget-friendly cloud HR software service providers and reap the financial rewards.
- Saves Time: This type of software cuts down on the administrative HR duties and helps manage much of these duties through automation. A real-time saver indeed.
- Mobile: Cloud HR software functions at peak performance and allows HRs and employees to perform more than 100+ HR functions using an HROne mobile app.
- Complete Control: Gives full control over accessibilities to help keep private information away from unwanted visitors.
- HR Analytics: HRs get in-depth data insights, which they can use for a detailed analysis.
- Compliance management: One of the most critical HR tasks is to stay up to date with HR and employment laws. HR cloud solutions make this simpler for human resource personnel.
- Scalability: A strong core offers immense flexibility to support the organization’s present and future expansion plans with easy configurations.
Data Protection with HR Cloud SoftwareHR Cloud software applies a multi-faceted architecture. It is designed to protect and secure the data. The cloud service providers ensure to construct a digital ecosystem that is highly resistant to hacking attempts. How? Ensures safe transmission of data over the internet keeps the data protected from physical tamperingUses data filtering products rescue the data from unknown attacks uses installing patches
How cloud HR software has transformed the way human resources works now
Cloud HR software allows small businesses to easily and quickly adapt to economic and workload changes. It provides new and enhanced features to manage a hybrid workforce working on multiple projects from various locations.
Best features of centralizes Cloud HR software
|1. Payroll functioning|
|2. Talent acquisition strategies|
|3. Training requirements|
|4. Employee onboarding processes|
|5. Employee engagement and much more.|
What does Cloud-based HRMS mean for the HRs of SMEs?
Cloud based HRMS offers the following benefits to HRs of SMEs:
- Less paperwork, freeing up time to work on important tasks.
- Real-time employee performance assessments to gain insight into how employees are doing daily
- Encouraging employee engagement
- Enhancing security across the business (on a digital front, mainly) to fend off cyber threats effectively
- And, lastly, innovation.
It’s time for HR to embrace this technology and shift focus from traditional software to modern technology-driven solutions. The best cloud-based HR solutions are cost-effective and can offer businesses impressive returns on investment. So, take the plunge. Transform the way HR is done.
How to find the best HR software for SMEs?
HR software in India has acquired visibility and has been labeled as the dark horse of all small businesses. As a result, a lot of investments and acquisitions have been taking place, and it’s interesting to note that small HR tech companies have been providing cutting-edge technology infused with cloud computing that big names of the industry are struggling to deliver to their users.
But, how to find HRMS software to cater to most of your business needs. Let us provide you with a checklist of features you must refer to before finalizing HRMS software for your business:
- Integrates various modules for the smooth recruitment process, employee onboarding, attendance tracking, payroll management, employee engagement, and much more
- Simple and interactive user interface for delivering B2C experience with cloud-based application
- Automate and optimize the flow of work across organizations, be it HRs, CXOs, or employees
- Mobile-friendly application to give access to teams and execute day to day HR functions from any time, anywhere using iOS or Android OS
- Create actionable insights for making better decisions and strategizing as per priorities
- Built-in features to import bulk data across the system rather than entering them manually into the system
- Scalable platform suited for small to large enterprises with any number of employees
- Minimal learning curve for easy and quick adaptability of software
- Implementation time must be tried, tested, and minimal considering the size of the organization
- Product training course to empower all your employees and easy configuration of software
Based on the above checklist, you can finalize your cloud-based HRMS software and implement it to perform HR functions effectively.
Most small-medium enterprises are still moving their business through manual labor with minimal technology usage. But through word of mouth and tech work eco-system, it has become vital for SMEs to embrace technology sooner. Knowing the importance and market size of the SME segment in India, the HRMS solution providers leave no stone unturned to grab their attention and implement more and more software in this category.
Thus, it has become more challenging to find the right answer to how to find the best HRMS software for SMEs!
India’s business ecosystem is deep-rooted and can be found in India’s hinterland rather than large offices. More than a million small businesses are thriving in India with limited technology. So for HR software providers, that’s a big market to tap. These start-ups are quick to adopt any new technology into their existing software. With great talent by their side and a millennial mindset, they are very well versed in global trends such as significant data compliance, agile saas applications, wearable technology, and artificial intelligence, to name a few.
This start-up boom will help usher in a new era for the SME segment of India and will change the way workplaces will function. It will be interesting to observe what future Indian businesses can do with the help of technology. We can’t wait to see what happens next.