HR software tools can be a huge asset to overworked people teams. Or, they can take up more time than they save you.
The HR software market was valued at more than $15 billion in 2020 and is expected to exceed $33 billion by 2028. There’s a tool for virtually every use case, from tracking employees’ details to payroll to perks.
And it’s no longer just about everyday employee management tools. For every $1 you spend on employee wellness, you get $1.50 in return. The bigger your workforce, the more this adds up.
So, let’s check out some of the HR software tools that can help you drive more value in 2023:
Core HR (personnel tracking)
Life is so much easier when all the information you need is in one place.
Personnel tracking software enables you to store employees’ names, contact details, and other vital information together.
Employees can update it when they need to, such as if they change addresses.
If there’s something you need to change for a group of employees, such as when you move offices, it can be done with a few clicks instead of manually typing everything into a spreadsheet.
Time and attendance
If you need to track how long projects take for billable hours, or how long employees spend working for you, time tracking software can make things a lot easier.
Employees click a button to start and stop, then it works out how long projects take or how long they’re clocked in for. This helps you make more informed decisions about time frames and pricing for future projects.
Payroll
Payroll can be hugely complicated and time-consuming to manage.
You can use payroll software to automate payments, benefits, taxes, and more. This enables you to focus on other areas of your business, safe in the knowledge your finances are handled efficiently.
Employee self-service/knowledge hub
A new employee can have lots of questions. Even long-term employees can have questions if you’ve got a complicated product or have implemented something new.
Having a one-stop shop where they can find everything they need to know about your products or services, how to do stuff, and why things happen a certain way, can ensure they get the answers they need when they need them.
It’s much quicker than asking in a group chat thread or reaching out to a colleague directly. And it avoids anyone feeling awkward for asking basic questions.
Benefits administration
From healthcare to discounts, benefits can play a huge part in your employee experience, as well as in talent attraction and retention.
Using HR software tools to manage employee benefits automates the process, making it easier to enroll people in programs and allowing them to see what they have access to.
Recognition and rewards
A little recognition goes a long way. It could be anything from a virtual high-five to more substantial rewards like brand discounts or goodies. Keeping them all in one place using HR software tools means employees won’t miss out because they didn’t know you offered certain perks.
Performance review
Using HR software tools to track performance reviews gives you somewhere to store what everyone has said in the past, and holds people accountable to their performance goals. It also gives them a place to track how well they’re doing in relation to their goals.
This makes future reviews easier because everything from previous reviews is documented in one place.
Applicant tracking
Some jobs can get hundreds, or even thousands, of applicants. Using applicant tracking software keeps everyone’s details in one place.
Certain systems can also vet applicants’ resumes for you before a hiring manager looks at them. This reduces the admin burden, although keep in mind it can introduce another layer of bias.
Learning management
94% of the 3 to 4.5 million Americans who leave their jobs every month would stay if their employer offered them more long-term learning opportunities.
Learning management software is a low-cost way to help employees grow skills that are relevant to their role and industry, allowing them to learn what they need at their own pace.
Coaching
As mentioned above, the ability to learn and grow is a huge part of why someone stays or leaves a company.
Coaching software allows your coaches to track what they’ve worked on with their students, schedule appointments, share resources, and more.
Employee experience management
Only 16% of businesses use technology to track the progress and engagement of their employees. But knowing how your employees really feel is key to retention. Engaged employees are happier employees, after all.
Employee experience management software enables you to send out pulse surveys, gauging how employees feel in the moment. You can then act on the results to improve situations or fix any problems before they interfere with your business or cause you to lose employees.
No-code customized tool builders
Not everyone knows—or wants to know—how to write code.
No-code customized tool builders enable employees to design what they want without needing to learn how to write code first. They can simply drag and drop elements where they want them to go. This saves countless hours and can reduce development costs, too.
Onboarding
Research by the Brandon Hall Group found that a great employee onboarding process might increase retention by as much as 82%.
And a more organized onboarding process results in a 60% increase in yearly revenue.
HR software tools focused on onboarding help you lay out everything an employee needs to know when they join your company. You can then pace it so that they don’t feel bored or overwhelmed.
AI assistants to answer employee questions
AI is particularly useful for onboarding employees and can save other team members a lot of time when it comes to FAQs.
To keep it personal, you can offer people the option to discuss things further with a colleague if the answers they get need more explanation.
Productivity
Effective task management can play a huge role in how productive employees are, whatever size your team is.
You can create Kanban boards, calendars, Gantt charts, or another form of tracking in most productivity tools.
They’re often fully customizable to you and your needs. That means you can break down the tasks involved in a project, assign them to different people, and check whether they’re done or need to be worked on.
Internal talent/skills marketplace
Being able to connect people with relevant skills to another person or team within your business that needs them means you can solve problems sooner. It also streamlines the process of finding out who can help with something.
Conclusion
There are so many forms of HR software tools out there that can help you manage your business better. This list should give you a solid place to start, but you’ll need to identify what your organization truly needs.
For instance, you may need a better way of keeping everyone connected and ensuring your employee programs and events are delivering results. In that case, a central hub with all your offerings, complete with real-time analytics, can help.
If you’d like to learn more about these types of HR software tools, we here at Workrowd would be happy to chat. Our platform makes it easy for every employee to tap into the things that can drive real value for them. Drop us a note at hello@workrowd.com to learn more.
