Online HR software provides a plethora of benefits to businesses and employers. Managing employees is one of the hardest aspects of any business, and a comprehensive, digital HR software platform drastically reduces the time and resources it takes to keep up on this process. But the ease of managing employees is not the only benefit of online HR software.
The following are also substantial advantages:
Ease of access
Big data insights
Let’s take a deeper look at each of these key benefits of online HR software.
1. Increase efficiency
Even for small-sized businesses, keeping track of hours, employee W-2s, and benefits information all on paper quickly becomes a full-blown nightmare. The time it takes to organize, fill out, and store this information could be spent on much more important tasks. A comprehensive online HR software platform drastically improves the efficiency of all these processes.
Streamlining tasks such as applicant tracking and onboarding increases productivity, saving your business time and money. Combine that with a single-source, cloud-based system like Dominion’s and you’re miles ahead of your competition. This brings us to our next benefit: streamlined communication.
2. Streamline communication
Human resources works like a network for your business. Important tools and information flow from this central network, and access to it streamlines communication. When employees and senior managers can all access this information, it reduces redundancies and eliminates confusion.
The benefits of streamlined communication through digital HR are especially advantageous for remote workers. A lot of work happens outside office these days, and access from any location or device improves productivity and aides daily routines.
3. Reduce costs
Increased efficiency and streamlined communication lead to reduced costs for your business. And while productivity and efficiency costs are hard to measure precisely, the cost of reams of paper and multiple HR employees are not. The rough estimate is it takes one HR person for every 100 employees. The right online HR software helps improve this ratio by reducing the amount of time it takes to collect and process growing company data, hence saving your business money through reduced costs of hiring additional HR professionals.
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4. Ease of access
Solely relying on physical documents to track and record employee data creates silos of information. Of course, the security of sensitive employee information is paramount, but making important employee data accessible through a secure HR hub allows more people to use the data analytically, which brings us to our next point.
5. Big data insights
Easy access to company information means you’ll be better equipped to make important decisions. The right online HR software can create reports based off a number of different company analytics, such as average hiring times, turnover rates, project completion percentages, and much more. The ability to run reports efficiently means managers and HR professionals alike can see information at any time, all from their computer.
6. Effective security
Filing cabinets might be great for your home office, but they’re not an ideal form of security for your business. If your office is damaged by a fire or natural disaster, the chances of unlocking a filing cabinet are about nill, not to mention the problems of running payroll if all employee data is stored on physical copies.
A secure online HR software incorporates recover features and premium data security. Typically, digital HR platforms back up data at separate locations and multiple servers. This multi-function security and backup process means your system can be back online extremely quickly, even if your business suffers a serious disaster.
Effective HR processes are paramount to any successful business. Dominion offers a single-source, cloud-based HR and payroll software that’s affordable, efficient, and comprehensive. Request a quote today to see how Dominion can power your business to its fullest potential.