(I-BusinessNews.Com, November 06, 2020 ) Human Resource Software is trending in market. Many organizations are getting it implemented for easing the process of human resource operations. Best HR Software enables organizations to manage employee data along with their attendance, payroll management efficiently. HR personnel has responsibilities of many tasks which need to manage lot of documents. With the help of this software organizations can optimize these tasks and reduce manual work.
360Quadrants has analyzed the companies offering the best Human Resource Software. This analysis will help businesses select the software that best suits their requirements. The analysis has been based on critical parameters taken from the companyÂs product offerings and business strategies. 360Quadrants also helps businesses by providing critical insights derived from conducting a SWOT analysis.
Human Resource Software comes with multiple beneficial features which can help organizations. By optimizing the human resource process the software increases organizational efficiency and productivity. Below is the list of features of software that proves helpful:
Employee Information Management- This software comes with complete employee database that contains all the important information of employeesÂ right from their joining details till their behavior in organization. It also ensures that entire data is linked to the universal organization record, so that it becomes easy to track and spool reports.
Recruitment & Hiring- The software eases the process of recruitment and makes sure that all the required information is handy. It takes care of entire employee life cycle and optimizes the hiring process.
Talent Management- Understanding if employee is talented or not is a challenging task. The software evaluates employees even post interview is done. It tracks employee performance, their satisfaction level and many such characters.
What are the different types of Human Resource Software?
Human Resource software is distributed into various groups that cover solutions right from benefits administration to workforce management software. The following are the types of HR software:
Talent management software Â HR software offers organization-wide employee oversight solutions. The features comprise career management, reimbursement management, employee engagement, and employee appreciation, etc.
HR analytics software Â HR professionals leverage Human Resource software solutions to gather and assess business data to help in enhancing productivity. These solutions track employee performance to support businesses in foreseeing productivity and enhancing workforce management.
Core HR software Â Core HR software helps in developing a central database through which employee information, such as payroll and benefits data, can be retrieved and preserved.
– In May 2020, Toronto based Ceridian acquired Singapore based Excelity Global Solutions, a human capital management service provider.
– In February 2019, Ultimate Software, which creates cloud-based human resources management software was acquired by Hellman & Friedman Capital Partners for $11 Bn.
– In December 2019, Stone Point Capital acquired a majority stake in PrismHR.
Read a blog on ÂBest HR Software in 2020 and the latest associated trendsÂ: https://blog.360quadrants.com/2020/human-resource-software/
Mr. Aashish Mehra