5 HR Technologies That Can Boost Your Business’s Bottom Line

HRTechThese days, companies are updating their HR software and technology more often than ever before. That’s partly because new HR tech comes out just as fast as other new tech does — just like with smartphones and computers, new HR software and devices seem to become obsolete as soon as they appear on the market. But that’s not the only reason why companies now update their HR management systems every three to five years instead of every five to seven.

Cloud-based software systems now allow companies to update their HR management systems much more smoothly and easily than in the past, when updating the system meant buying and installing new software. But that kind of updating takes care of itself these days. Now, HR technologies are streamlining workplace processes and making employee attendance tracking and other HR tasks easier than ever.

By simplifying processes and saving time, these technologies can also save businesses money. HR tech like online training modules, cloud HR software, online performance management, electronic onboarding and benefits management, and match-on-card technology can benefit businesses of all sizes.

1. Online Training Modules

Online training has made it easier than ever for HR to assign training courses, track completion, and assess results. The newest generation of online training modules harnesses “learning management” technology that can help human resources personnel assign training modules based on job title. This new technology streamlines the completion tracking and assessment processes, too.

Even if it’s a new hire’s first day of work, HR personnel can assign online training modules and managers can adjust training based on the employee’s progress and needs. Learning management software also allows HR to track an employee’s development and progress throughout his or her time with the company.

2. Match-on-Card Technology

matchIf your company is at all concerned with security, match-on-card technology can help. Match-on-card technology ensures employee identity verification through the use of the oldest and most reliable means of identification, the fingerprint. This technology embeds your employee’s fingerprint within the plastic of an employee ID badge so that it can’t be counterfeited, copied, or stolen. This technology is so reliable, it’s already used at the U.S. State Department to verify employee identities.

3. Attendance Tracking Software

It’s the 21st century, and old-fashioned punch cards are a thing of the past. That’s because HR personnel can now track attendance with the help of automated software. This software does a lot more than simply keep track of the time at which an employee punched in and the time at which he or she punched out. It can also use GPS tracking to help you monitor the movements of employees in the field, or mobile applications that can let employees punch in and out remotely. Human resources can also take advantage of features that schedule paid time off and time off approval. It’s never been easier to manage employee scheduling.

4. Electronic Onboarding and Benefits Enrollment

Taking on a new hire can be tedious. It can take an entire day for a new employee to fill out all the paperwork necessary to join the team. But with electronic onboarding, a new hire can fill out all of that burdensome, exhaustive paperwork at home and submit it before coming in to work on the first day, which saves HR time and helps your new employee get to work faster. The system can even flag incomplete or incorrectly filled-out forms, to save even more time. Most systems can spread the data from these forms throughout the company’s systems, for even greater convenience.

Electronic benefits enrollment also simplifies the hiring process. Companies can save money by integrating benefits, payroll, and tax systems, and online enrollment makes it easier and cheaper to keep track of benefits information.

5. Online Performance Management

Juggling company-wide performance management isn’t easy, but with an online performance management system, it’s a lot more manageable. These systems allow HR teams to get a clear picture of what’s happening with performance across the organization, isolate issues by department or employee, and deliver feedback when needed. These systems can also send tasks to employees and managers and schedule meetings. Managing performance throughout the company is less of a burden with performance management systems.

Thanks to the latest in HR technologies, managing personnel is easier than it’s ever been. From the first day a new hire comes on board to the day he or she leaves the company, HR tech makes handling every aspect of management simpler and easier, so your company can do more with fewer resources.