Whether you’re just entering the workforce or you’ve been a part of it for years, managing finances isn’t easy. Once you leave the comfortable structure of high school and college, you quickly learn how important it is to keep a close eye on when, why, and where your money goes. Luckily, there are apps that help you monitor your bank accounts, pay bills on time, and keep your finances in check. These tools help make it easier than ever to manage your finances.
Human Resource Management software (HRMS) can bring this kind of structure to employee management. Everyone in human resources wants to make sure their employees are firing on all cylinders, but the best way to do that is not always clear. The companies that have the happiest and most efficient employees use software to put employees in the driver seat of their careers. So how do you do this?
Step 1: Make clear, concise goals that allow everyone to be on the same page
Before the days of online banking, many people were forced to have hand-written calendar reminders and post-it notes set up in order to get their bills paid on time. This used to create a lot of opportunity for missed or, worse yet, double payments. Luckily, we now have automatic payments and electronic reminders to make sure the lights stay on.
In a similar fashion, using HRM software to delegate tasks and set expectations allows managers and supervisors to make sure every objective is being worked on and there is no overlap. For example, there is nothing more frustrating than working on a project for a couple days only to realize someone else has been working on the same thing. The right HRM software can solve this by tracking who’s working on what, what their expected finish time is, and how their tasks affect others on the team.
Step 2: Track and conduct better performance reviews
Any HRM software worth its weight will have a way of tracking and setting performance reviews. This allows the manager and employee to set, monitor, complete, and review objectives they both agreed on. Long gone are the days of unprepared and disorganized yearly reviews, which are now replaced with hard data, analytics, performance tracking, and realistic project management. This makes the review quick and decisive, allowing more time for discussion as to what the employee did well (or not so well) and how to improve.
Performance reviews can often have a negative connotation associated with them; most view them as a vehicle for delivering negative feedback. This makes both parties dread having to do them, which in turn can make them less efficient and helpful. That’s not to say they should be overwhelmingly positive either. Performance reviews should be representing the clear and concise goals planned out by managers and employees. Managers and supervisors should then use all the accessibility that current software provides to give constant feedback, good or bad, to members of their team.
Step 3: Let your employees take control of their careers
More than ever before, the lines between work and life are blurring. We get emails directly on our phones, all the software we use on a regular basis is available on every platform imaginable, calls can be forwarded to anywhere we are, and when we’re not at the office, we have the ability to read up on everything applicable to our jobs.
Because of this, employees are looking to have more control over their careers. They feel more connected and inspired when they have a voice. They want to know their work is helping them aspire to the position they want, as well as moving the company forward. HRM software allows employees to be a part of the entire management process.
Employees these days want to:
pick their insurance plan
decide how to invest their paycheck
plan out when their taking time off
see how that affects their schedule
get their W-2s on their own time for tax season
The more employees feel in control of their career, the more connected they feel to the company. That feeling shows up in the amount and quality of work they do as well as the overall happiness with their work life.