Whilst some small businesses can get by without HR software, ambitious, fast-growing organisations will want to ensure they have the best partner and the right tools in place to help support their growth and their people.
In this article, we’ll explore the 5 ways HR software can help grow your business.
What is HR software and why will it help my business?
HR software simplifies time-intensive admin tasks that are often left to HR or owners of small businesses, and helps to maintain accurate employee records. This frees up valuable time to focus on valuable HR initiatives that support business growth.
When effectively executed, HR software helps small businesses grow through:
- Gaining access to more accurate data
- Streamlined recruitment
- Reduced compliance risks
- Improved automation
- Helpful HR insights to inform decision making.
1. Organising data & improving accuracy
We all make mistakes from time to time, but when small companies choose to handle their data manually, there is the increased risk of data errors and duplication that can quickly become costly and time consuming to resolve.
With the right HR software and automation of manual tasks, businesses can have greater confidence that the number of data entry mistakes will be significantly reduced. Having one central database can help provides quick and easy access to data anytime and anywhere, saving employees a great deal of time.
2. Improving recruitment efforts
Hiring new recruits can prove quite the challenge for small businesses, especially when the HR team is made up of one person and you’re going head-to-head with larger organisations for the top talent. That’s where HR recruitment software comes in.
Designed to attract and secure the top candidates for your business, software such as applicant tracking systems allow you to manage every aspect of the recruitment process with ease, including:
- Reading CVs
- Reviewing applicants
- Shortlisting candidates
If making the recruitment process smoother wasn’t enough, these systems also offer up an array of valuable data insights and provide better candidate and onboarding experiences to improve retention, cutting the cost of recruitment long-term.
3. Reducing compliance risks
No matter how big or small the business, when it comes to compliance no one can afford to cut corners. With increasing changes and additional requirements each year, ensuring processes are up to date and compliant is no small feat and can soon become time consuming.
Failure to adhere to rules and regulations can have many consequences on a business, from internal efficiencies and damaged reputation to legal and financial risks, making it essential to manage and mitigate effectively.
HR systems help by notifying the relevant people of any upcoming compliance deadlines and sending reminders when it’s time to renew or refresh any important documentation. When it comes to GDPR, sensitive personal data is safely secured in line with regulations, with many systems being cloud-based.
4. Helpful HR insights
When it comes to growth, and particularly in small businesses, HR data is not only helpful but crucial to inform decision making, such as where to invest often limited budgets. From recruitment and onboarding to employee satisfaction, your HR data can provide an abundance of information about your business in just a few clicks.
Whilst measuring too many metrics can become a burden in itself, looking at key data, can help businesses to know where to focus and cut down on costs. For example, tracking employees Bradford Factor Scores can help monitor absences by highlighting problematic patterns and identifying the cost they may have on your business.
HR insights also enable you to keep track of your current headcount, as well as analysing employee turnover rate and cost per hire or taking a deep dive into employee satisfaction, which can prove invaluable pieces of data when it comes to developing a growth plan. Read more about HR data analytics.
5. Gives you more time
We’ve all heard the phrase ‘there aren’t enough hours in the day’. This is especially true when it comes to managing the daily operational tasks of a business whilst simultaneously trying to grow. From ensuring personal data is kept up to date and time sheets are accurate, to managing sickness and payroll, it’s little wonder time is one of the greatest burdens facing management and HR.
Thanks to simple process automation and self-service, HR software removes the monotonous manual tasks such as approving expenses, authorising time off and tracking overtime, and allows employees to take control of their own personal data such as updating banking information and viewing and booking holidays.
This is incredibly important for business growth, as it grants you the time to focus on wider duties that might not have otherwise been looked at, such as:
- Developing a growth plan
- Recruiting and retaining talent
- Promoting a strong culture
- Supporting people managers to develop talent
Take a look at 7 ways HR software can save you time.
Start today with PeopleHR
Hopefully by now, you can begin to understand the ways in which HR software can help support your businesses plans for growth. Having one central system that provides automated processes as well as employee self-service, will not only improve the accuracy of your data inputs and reduce compliance risks, but also free up time allowing you to focus on areas for growth.
If you’re interested in learning about how Access PeopleHR works, you can arrange a free trial at any time. We’re always happy to provide helpful guidance – even if you decide we’re not a good fit for each other.
