Why HR Technologies Will Be A Game Changer For MSMEs

    SMEs may consider adopting HR software to keep track of new job applications, manage payrolls for both current and new hires, post job openings inside the organisation, and more.

    In India, SME (Small and Medium Enterprises) GDP share is 8%. According to a Forbes article released in July 2018, it contributes 22% to employment. The category is lacking the wide-scale use of technology. Most of the time, SMEs assume that implementing new technology would be expensive; however, this is not always the case. Additionally, technology like HR software improves and simplifies how these businesses operate. 

    Let’s delve further to learn more about the topic and how HR software may help SMEs in the modern world:

    Hiring in a hassle-free manner

    An SME company’s HR department must work effectively, just like any other business. It might be difficult to find the appropriate talent for the right position. A successful hiring process may convert a worker into a corporate asset, but if the wrong people are picked, they can become the firm’s biggest burden. Here, it makes sense to use HR software that automates the hiring process. Such software may construct recruiting campaigns that reach a large number of qualified candidates while saving time for other fruitful activations. It is beneficial for mass hiring. Similarly, SMEs should consider adopting HR software to track new job applications, manage payrolls for both current and new employees, create positions inside the firm, run background checks on possible candidates, monitor and track new job applications, etc. Most importantly, it will allow employees to apply online. 

    Keeping track of the output of the employees  

    It’s also helpful to monitor staff productivity with HR software. The next problem facing HR after conducting effective recruitment is keeping track of an employee’s productivity over time. Your company can quickly check the employee workflow thanks to HR software. It will make sure that every employee is effective and meeting the organization’s needs. Additionally, HR software provides the ability to assess and rate staff. Additionally, it offers a forum for SMEs to exchange ideas and for employers to address employee problems.

    Monitoring employee referrals is made simple

    We value hiring through recommendations. People who join an organisation through recommendations typically have a better chance of succeeding there. Referrals are simply managed by HR software, which also keeps track of whose employee made the recommendation. For a higher authority to decide whether or not to hire a suggested candidate, this information becomes extremely important. The same software may be used to express gratitude to staff members who have recommended an applicant.

    Managing KRAs for staff

    Similar to the aforementioned advantages, HR software is useful for managing employee KRAs. An SME should emphasise the completed projects/work of its staff if it wants to prosper. It is simple to monitor a team’s or an individual’s productivity using HR software. Additionally, utilising information supplied by workers, AI-enabled HR software may even offer recommendations tailored to a single employee. These ideas can improve timetables and increase team productivity. The scheduling of seminars and training sessions for the improvement of employees’ skills may also be done using HR software. Employees that require more training can be found by analysing the training’s outcomes.

    Real-time management of employees’ data and attendance

    Using HR software to manage staff leaves and absences is another shrewd suggestion that may be put into practice. An HR professional at an SME frequently has to manage a variety of such leaves and absence data. Making an account on the website and ensuring that it is being updated by each employee separately is the easiest approach to using this programme to control employee attendance. In addition, this procedure may be used to manage time while staff members are away for meetings or in the field, at outdoor activities, or for other pertinent circumstances. By eliminating the paper trail or lengthy approval procedure, this software also enables managers to monitor team productivity and guarantee that approvals are granted on time online. Employees may communicate pertinent information and become more aligned and devoted to the team and organisation by having access to such software.

    Final words

    Every organisation has a unique set of requirements. However, HR continues to be the fundamental pillar that supports the culture and upholds the overall ethos of all functions. Therefore, one of the most effective strategies that must be used to maintain optimum ROI, recognition, and retention for MSMEs in India is the use of HR tech software.

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