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Glossary of Human Resources Management and Employee Benefit Terms
HR software is a digital solution for managing and optimizing the daily human resources tasks and overall HR goals of an organization. HR software makes it possible for HR staff and managers to better allocate their time and resources to more productive, profitable efforts.
HR software technology has come a long way since the first time computers were employed to manage human capital data in the 1970s. HR systems became more widely available to enterprise clients in the 1980s, and the arrival of web-based software in the 1990s made HR software even more common. Now, most new systems are cloud-based, subscription-based, easily integrated with other data management programs, and highly customizable to an individual organization’s needs, goals, and budget. In short, there is now an HR software solution for every size and type of organization.
HR software assists an organization’s human resources department by automating manual tasks, keeping employee information organized, and creating data-driven reports. This is all done electronically, eliminating the need for paper documents. HR software can also serve employees and managers within an organization, assisting with tasks like time tracking, updating employee directories, and performance management.
Some of the functions HR software can perform include:
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
And much more
All these actions are done with various HR software programs that can be purchased as a package or a la carte.
While there are many benefits of using HR software, one of the biggest is its ability to reduce the time spent on repetitive, low-impact administrative tasks, which allows HR professionals to focus on more productive responsibilities and longer-term strategic outcomes.
Beyond this, other major benefits include:
Improved organization of documents and employee data
More accurate analytics
Improvements in succession planning
Keeping organizations compliant with federal regulations
The best HR software depends on your company’s unique needs and goals, as the software solutions for each may vary.
Some types of HR software that may help your organization reach its goals are those that manage applicant tracking and onboarding, performance, and employee engagement.
Human Resources Information Systems (HRIS): An HRIS plays the core data-management role needed for multiple HR functions such as recruiting and tracking applicants, storing employee data, managing payroll and benefits, maintaining regulatory and legal requirements, etc. An HRIS can 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 hiring process for an organization from beginning to end. It typically handles tasks such as posting job openings to multiple job boards, storing applicant data, and screening applications for 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 to help HR ensure they are providing a compliant, smooth onboarding experience for new employees.
Performance Management: A platform for HR professionals, managers, and employees to assess employee skills, set performance goals, and track improvement.
Employee Engagement: Helps improve employee sentiment and increase individual and team engagement. This is done through everyday work priorities, feedback, coaching, and analytics.
Join BambooHR and Workable as they explain how to choose the top HR software that will help you accomplish your goals, whether you’re trying to streamline your hiring process or build your culture.Watch Now
Choosing an HRIS can be a daunting task, this guide gives you a comprehensive overview of the process of picking out HR software, and the tools you’ll need to compare different options.Download Now