HR Software

What is HR Software?

HR software (also called a Human Resource Management System or HRMS) is designed to streamline and automate certain HR processes. It offers a digital solution for effectively managing and optimizing daily human resources tasks—such as payroll, time tracking and benefits administration. It also tackles more data-heavy processes, such as managing employee information and generating analytics reports. Thanks to HR software, HR staff and managers can spend less time on paperwork and more time on people.

complete-platform-2

Why do you need HR software?

There are many benefits of using HR software, but one of the most important is how it can help reduce the time spent on those repetitive admin tasks. This allows HR professionals to focus on the bigger picture stuff, like helping a business become more productive overall and tackling longer-term strategic outcomes.

Beyond this, other major benefits include:

Reduced errors. With automatic tracking and data compiling, it helps mitigate mistakes and calculation errors.
Improved organization. Everything is stored in one place, so is easily accessible and searchable. This means you can access important employee documents and data with ease, without facing data silos.
Streamlined processes. HR software allows you to create and implement company-wide processes to keep employees on the same page.
Continuous feedback. HR software solutions allow your managers to provide continuous support and feedback on employee goals and performance, all on one platform.
More accurate analytics. With all your data in one place, you can calculate employee turnover and attrition accurately. Some HR software platforms can even perform this analysis for you, generating automated reports for wider business insights.
Improvements in succession planning. HR platforms ensure your business is prepared should you need to provide support while developing your top talent. Easily understand the hierarchy of your business and who requires the most guidance to reach their potential.
Keeping organizations compliant with federal regulations. Check the rules and regulations for your state and factor these into your processes and policies. HR software makes company-wide implementation seamless.

How SaaS HR software solutions work

HR software can also be referred to as "software as a service", or SaaS. Its main aim is to support an organization’s human resources department by automating tasks, analyzing data and creating helpful reports and keeping employee information secure and organized.

HR software offers all this digitally, which eliminates the need for paper documents. SaaS HR solutions can also serve employees and managers within an organization. Necessary admin tasks like time tracking, updating employee records and directories, and performance management can all be carried out with this software.

HR software can help HR professionals:

Securely storing and organizing employee data
Creating workflows and tracking approvals
Self-service time tracking
Tracking employee training for development and compliance
Gauging and reporting on employee satisfaction
Performance management and goal tracking
Benefits administration and management
Pre-boarding, onboarding, and offboarding automation
Third-party application integrations
Monitoring all data changes with an audit trail
Producing custom reports to provide strategic insight
Electronic document signing and record management.

What is cloud-based HR software?

Cloud-based HR software is a web-based application that allows organizations to manage their HR processes and employee data in a secure, centralized system. This can be accessed across your business from anywhere with an internet connection.

Not all HR software is cloud-based, but cloud-based HR software has become the standard for many organizations. On-premise HR software—where software is installed on local servers and maintained by the organization's IT department—used to be the norm. However, with the rise of cloud computing and the benefits that cloud-based HR software offers, more organizations are opting for this type of solution.

Cloud-based HR software can offer several advantages over traditional on-premise HR systems, including lower upfront costs, faster implementation, automatic software updates, and greater accessibility and flexibility. Additionally, cloud-based HR software can help organizations reduce the administrative burden of HR tasks, improve data accuracy and security, and enhance employee engagement and productivity.

complete-platform-6

How to choose the best HR software for your business

The best HR software offers everything you need in one easy to navigate package. We’ve pulled together some things to consider when looking for a platform that works for your business:

Look for combined payroll and HR software offerings

When shopping for HR software, determine if you also need payroll software. Not all HR software includes payroll functionality, while some integrate with payroll capabilities to provide a seamless, end-to-end solution for managing compensation.

When HR and payroll software are integrated, data can be shared automatically between the two systems, reducing the risk of errors and minimizing manual data entry. For example, when an employee's pay rate or tax information is updated in the HR software, the payroll software can automatically update the employee's payroll records without the need for duplicate data entry.

Integration between HR and payroll software can also help organizations comply with various tax regulations and labor laws, as well as reduce the administrative burden of managing payroll processes. If the HR software you choose doesn't include payroll functionality, make sure it integrates with your payroll software for a seamless and efficient solution.

Look for additional key functionalities

Some types of HR software that may help your organization reach its goals are those that offer other additional key features. These include applicant tracking management and onboarding, performance, and employee engagement.

Here are some of the key features many HR software providers offer that you should look for:

Human Resources Information Systems (HRIS)

An HRIS manages multiple data-heavy HR functions such as recruiting and tracking applicants, storing employee data, managing payroll and benefits, and maintaining regulatory and legal requirements.

An HRIS may be standalone software designed to integrate with other HR applications, or it may be the central database in an all-in-one HR software system.

Applicant tracking system (ATS)

An ATS is recruiting software that helps streamline the end-to-end hiring process for an organization. It helps you manage tasks such as listing job openings, keeping applicant data safe, and using an automated process to screen applications and pull out potential matches.

Onboarding

Onboarding software helps streamline and track the process of introducing new employees to an organization. It often includes elements like electronic signatures, pre-boarding packages, training tracking, employee questionnaires, and other automated functions. This helps HR teams ensure they are providing a compliant, smooth onboarding experience for new employees.

Performance management

A performance management platform helps HR professionals, team leaders, managers, and employees assess employee performance during performance reviews. It can also be used to set performance goals and track improvement.

Employee engagement

Improve employee engagement and increase individual and team contentment with specialized engagement tools and helpful metrics. This is done through everyday work priorities, feedback, coaching, and analytics.

What is the best HR software?

Whether you’re looking to effectively onboard new employees, conduct better performance reviews, improve payroll processes, and more, BambooHR offers award-winning HR software solutions for everything from hire to retire.

We know that you’ll be looking for the best HR software that offers everything you need in one simple platform. Want to see how BambooHR stacks up against other popular HR software providers? Take a look at our comparison pages to help you make your decision:

complete-platform-10