Technology has noticeably changed HR management; most firms provide universal access to HR services through technology and web-based applications. These changes often result from the need to cut costs and expand or improve services. Research shows that organizations that successfully adopt sophisticated HR technology tools outperform those that do not. But the simple automation of HR processes can no longer guarantee a competitive advantage. Instead, organizations must determine how to use technology to transform their HR practices and market their HR brand.
iLogic Inc. believes in transformation of HR service delivery, which requires a fundamental change in the way HR professionals view their roles. HRMCloud is a cloud based HRM platform that leads the transformation of HR service delivery by automating 100% of the HR functions. This not only helps in improving employee collaboration but also reduced overhead costs.
Improving Efficiencies: Automation in HR, reduces dependence on hard copy form of data and information related with the employee details, facilitates saving of time and resources by way of using online applications/forms created in a user friendly interface. This improves the overall efficiency of the HR department and the HR professionals may focus more on strategic decision-making and developmental functions of HR.
Mutually Beneficial for both the Management and the Employees: Automation of HR or HRIS, facilitate transparency in the system, thereby result in improved employee satisfaction from his job and convenience for the management in proactively responding to people related affairs.
HR as a Strategic Partner: With the implementation of HRIS in the organization, the role of HR expands from merely being a support system or an administrator to a strategic partner. HR functions in alignment with the corporate strategy and today plays a strategic role in driving business objectives through effective management of human resources and implementation of HR best practices/interventions for improved employee performance.
An evaluation of HR costs involves calculation of ROI (Return on Investment) on Human Capital, which generally encompasses an assessment of the benefits or the positive outcomes and also the costs or the negative outcomes of HR led initiatives/practices. The evaluation of costs and benefits of HRIS can be performed with the help of various techniques:
- Identification of sources of value for costs and benefits of HR led initiatives: This would be involving an assessment of the business environment, changing trends and an evaluation of the strategic course of alternatives.
- Estimating the Timing of Benefits and costs: This essentially involves comparing the HR costs and benefits in various periods or measuring the costs-benefits of various programs led in different timings. This plays a crucial role during the policy making process.
- Calculating the value of Indirect Benefits: Indirect benefits are the secondary benefits. This step helps in understanding the influence of various factors on the probability of success of HRIS projects. By estimating the magnitude, one can perform better evaluation of the planning process. For estimation, at first the proper metric is chosen and then direct estimation, benchmarking and internal assessment are done. Benchmarking is widely available, as it has several advantages to offer. It results in better risk management for large-scale projects which are in progress. Internal assessment involves an assessment of the firm’s own internal metrics. Here data transfers are much easier and relatively cost effective as well.
Methods for estimating the value of indirect benefits: These are typically estimated in dollars. It involves a calculation of the Average Employee Contributions (AEC). AEC is derived by calculating the difference between the net revenue of an organization and the cost of goods sold divided by the total number of employees. In short, AEC = (Net Revenues -Cost of Goods Sold)/number of employees.
AEC is the average employee contribution to the organization. This is a profitable technique for the organization. It helps the HR professionals to estimate their contribution towards the organization. It also contributes towards the assessment of employees� individual differences and production rate.
Today’s multigenerational workforce expects a personalized technology experience that helps them be productive and engaged during their workday and it needs to be as familiar and intuitive as the applications they use outside of work. HRMCloud delivers a consumer-grade experience for the entire workforce as well as any-device access, collaborative scheduling, and the ability to meet industry-specific requirements. 30 out of 40 clients rated us 5/5 for Customer Experience.
HRMCloud helps solve critical workforce management issues by providing proactive insights and recommendations before potential issues have a negative impact on engagement and the bottom line. Predictive capabilities help you make smarter, faster business decisions. The role- based engine provides metrics based dashboard and ability to predict for various use cases.
Traditional platform architectures would not be sufficient to power its advanced capabilities. HRMCloud platform delivers such industry firsts as a robust API and integration platform, artificial intelligence, blazing fast in-memory computing, and a flexible domain model based on our decades of workforce management experience.
Competitive Pricing: We understand that one size doesn’t fit all; our partnership models are completely flexible and competitive to accommodate organizations of different sizes. From a 20-member organization to 20,000+, we have different pricing and custom engagement models defined.
Scalability for Future: Our clould solution is scalable for future with a robust API and Integration platform.
SLA Driven Service: Our SAAS models are SLA driven. We provide 24/7 support to our customers globally.