20 Jun 7 HR technologies for managing the employee lifecycle
7 HR technologies for managing the employee lifecycle
Employees are often considered an organization’s most valuable resource, the best results often come when great workforces are provided with great technology. Read this blog post for seven HR technologies that help manage the employee lifecycle.
It’s no secret employees are the foundation of any company: Without them, products can’t be made, services can’t be provided and customers can’t be satisfied.
That’s why an organization’s workforce is often considered its most valuable resource — because while great people can overcome a lack of process or technology, it’s much harder to forego having great people in place. Still, the best results come when great people are provided great technology and supported by great processes.
But the constant flow of employees in and out of an organization can make effectively and efficiently managing the support needed at each stage of the employee lifecycle a difficult task for employers and human resources teams. Luckily, these HR technologies can help with managing the employee lifecycle.
Applicant tracking system
An applicant tracking system is an online platform that simplifies and streamlines the entire recruitment process — from sourcing to selection — by allowing recruiters and hiring managers to seamlessly direct every stage of the process all from one electronic system, eliminating the never-ending paper chase of traditional recruiting. Every ATS is different, but most will include access to an online resume database, automated hiring workflows, communication capabilities and reporting tools.
Half of all new workers leave their jobs within the first 90 days of employment. Organizations with successful onboarding programs, however, have significantly better new hire retention rates.
A big component of a successful onboarding program is removing the hassle of all that tedious paperwork employees have to complete. The first day on the job is already stressful enough for a new hire without the added inconvenience of required employment paperwork. Investing in an online employee onboarding technology platform allows employees to complete the majority of this paperwork (like W-4s, direct deposit authorizations, I-9 forms and other consent forms) well before their first day. Electronic employee onboarding programs also reduce paper costs while minimizing the possibility of errors by providing new hires online access to all necessary employment forms so they can easily review, complete, sign and submit their forms within minutes.
Switching from a paper-based benefits enrollment process to an online enrollment process comes with a wide array of advantages. Not only does an online benefits enrollment process save time, but it also gives employees the time and independence to make their own elections, and helps reduce costly mistakes and errors.
Time and attendance
Online time and attendance platforms not only reduce errors and help managers keep track of days of requests, they also are vastly more efficient for employees to use than paper-based timekeeping systems. (Along with some other really great advantages.)
Payroll is one of the biggest line items in an organization’s budget. Processing payroll also can be one of the most time-consuming aspects of an organization’s HR functions, and when it’s not done right it can also be the source of some serious employee complaints.
Payroll technology platforms help minimize the potential for errors, and can greatly reduce the time it takes to process a payroll.
eLearning/learning management systems
With the “skills gap” widening as older employees exit the workforce faster than new employees can fill their shoes, employee development initiatives and corporate training programs have become a priority not only amongst large employers, but small and mid-size businesses as well.
Online learning management systems provide employers with convenient options to help train and develop their workforce’s skills and abilities.
As with many employee management functions, employers are now taking advantage of online HR technology platforms that allow them to more efficiently streamline the performance management process. In many cases, an online performance management tool allows employers to more effectively evaluate and record employee performance, as well as providing a place for managers and employees alike to keep track of organizational and personal performance goals, record journal entries and maintain an ongoing performance record. These platforms tend to be more popular among larger organizations, mostly because small and medium-sized businesses often feel the price is prohibitive unless they can access discounted rates through an HR outsourcing provider.
SOURCE: Grijalva, A. (5 June 2019) “7 HR technologies for managing the employee lifecycle” (Web Blog Post). Retrieved from https://www.benefitnews.com/list/hr-technology-for-managing-the-employee-lifecycle