Recruitment, talent and staff management, rapid growth, and retention are just a few of the top challenges facing HR teams today. The endless cycle of hiring, on-boarding, managing, and retaining happy employees is not an easy task, and many HR teams are looking for ways to overcome some of these challenges.
Finding the right person for the right job is the goal when hiring a new employee, and the expense of making the wrong choice is high – in a recent Oxford Economics study, they found that the loss of an employee making £25,000 or more can cost the organization an average of £30,000! Ensuring your recruitment policies match talent with the right position in the company is vital. HR teams can find that using HR software helps with the recruiting and on-boarding processes, and reduces the administration time required to manage certain tasks.
Creating and maintaining a strong culture in your organisation can be difficult when the company is experiencing rapid growth. As exciting as it can be to add headcount and increase the company size, the challenges HR faces as a result can take time to balance. Company culture takes time to build, and using HR tools to identify potential areas for improvement make immediate changes. Using technology also gives HR teams access to instant reporting which can be helpful to spot trends that otherwise may have gone unnoticed.
Another challenge facing HR departments is the number of regulatory and compliance changes that are implemented each year. Managing the administrative aspects of compliance can be extremely tedious, and mistakes are costly. Employee privacy and data protection were key initiatives with the rollout of GDPR, and the lasting effects of the changes often fall to HR departments to handle. Keeping all aspects of employee data (personal, pension, payroll) can take HR teams away from the important culture-building and strategy work that must be done to ensure the health of the overall organisation.
Using HR software with employee self-service portals allows individual employees to make administrative changes to their own data like address or bank updates, and they can also print payslips and get P60 information. Self-service helps reduce the administrative burden placed on HR teams. HR technology can greatly increase productivity for HR and reduce hours spent on administration. It helps HR teams stay focused on recruitment, talent management, and culture. To learn more about HR administration software for your business, click here
Need help to understand what solution is best for your business?
Payescape Limited is authorised by the Financial Conduct Authority under the Payment Services Regulations 2017 (register number 821826) for the provision of payment services.