Does your company leverage the power of a complete HR software system? Or are you stuck on multiple siloed HR tools that do not talk to each other or maximize their benefits? It is time you give your team an end-to-end HR platform.
In this article, you will learn about the features and benefits of complete HR software platforms. You will also learn how to select the best HR software and HRMS in Singapore.
As business conditions and employee expectations change, employers in Singapore are looking to revamp their HR systems to keep pace with the changing HR landscape. For example, 80% of employees in Singapore are likely to request higher pay, signalling a shift in the way the HR function has to operate. A complete HR software platform or modernized HRMS platform makes it easier to execute processes, generate value, and keep employees happy, productive, and loyal.
What is a Complete HR Software Platform?
The primary objectives of any HR team are attracting, nurturing, managing, and retaining their employees. A digitally-enabled HR strategy that integrates data and processes across HR functions can help prevent process inefficiencies caused by different apps installed at different times and across different functional domains. A complete HR software refers to an integrated technology solution that has all the components you need to perform daily HR tasks but in a modular fashion, so you can tack on or remove features as the organization evolves. A complete HR software platform is essentially an HRMS platform that supports all HR functions and tasks is an ensemble of software applications that manage human resources and associated systems throughout the employees' tenure and serves as a complete HR software solution for organizations.
HR executives and employees are the primary consumers of end-to-end HR software solutions, as they supervise daily workforce management operations or are in charge of conformance, safety, and performance reporting. However, it's not just the HR function that benefits – companies may empower supervisors and staff members with self-service for frequent assignments, which is an appealing aspect for younger recruits.
A complete HR software enables executives to gather insights on all workforce trends as well as their business ramifications.
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How Does an End-to-End, Complete HR Software Platform Work?
A complete HR software platform helps the human resources department by bringing together and unifying all HR tasks and functions on one platform. It serves as one common portal and improves efficiency by automating manual duties, managing personnel data, and generating data-driven reports. Given that every organization is unique, you can typically select the apps and functions you require for your platform and build a complete HR software solution that addresses all the HR needs in your organization. Each user is given a password and username for platform access. Supervisors may customize access as per each employee's specific requirements.
If an organization has several locations (or HR managers), they may access the platform from all these company sites and receive real-time notifications on the progress of various recruiting, payroll, and other assignments at play.
Some HR software platforms have a human resource information system or HRIS management software to simplify data operations. Modern HR platforms also offer mobile-based access.
Learn More: The Ultimate Guide to Human Resources
Key Features of a Complete HR Software Platform or HRMS
A complete HR software platform must answer your essential HR requirements add value to be truly useful. The true power of end-to-end, complete HR software is revealed when it offers the following:
1. Talent sourcing and recruitment
Using a complete HR software platform, recruiters should be able to construct career profiles, compose job postings, add vacancies on third-party job boards, and handle resumes prior to sending applicants to an HR generalist or recruiting manager. Most of these processes should be automated and use advanced technology such as AI to make the process faster and more accurate.
The automated recruitment feature of an HRMS streamlines and accelerates the recruiting process. The majority of HR software platforms include simple-to-edit templates and protocols for follow-up using the applicant tracking system (ATS).
Onboarding, as well as offboarding modules, are essential for an HRMS platform to be considered a complete HR software solution. This assists new employees with documentation, software sign-in, Ministry of Manpower (MOM) verification, social introductions, and various other tasks that are part of the new employee onboarding process, such as initial training, orientation, etc.
2. Mobile access/ Mobile app
Given that a lot of work now happens on the mobile, a complete HR software solution must have a mobile app or a mobile version. In a world where remote work, hybrid work, onsite/field-work are common, employees will need access to HR tools on mobile. For example, blue-collar workers may not have access to their offices and computers on a daily basis and would need mobile access for basic HR tasks such as attendance, leaves, shift management, training and learning modules, etc.
3. Employee experience management and employee engagement
An ideal complete HR solution is one that is easy to use, intuitive, and employee-friendly. It also has to have features that enable HR leaders to manage employee engagement activities such as employee pulse surveys.
The software platform should also ideally have an internal social networking tool that enables employees across the world, across functions, to communicate with each other on matters outside their daily work as well. 4. Payroll
This module facilitates the estimation and settlement of salaries, the deduction of applicable taxes or adjustments, and the printing and distribution of paychecks. Using well-defined formulas, complete HR software can manage a company's allowances and rates for overtime. Using an HRMS to automate payroll provides several benefits and is an essential component of an HR software solution.
5. Time & attendance
This feature enables your employees to track their hours, typically by incorporating biometric recognition solutions, although next-gen modern systems are now using technologies such as facial recognition for attendance. Automated alerts will allow you to monitor attendance and overtime and use the data for reporting and analytics-driven decision-making.
6. Compliance reporting
No matter where you work, you must comply with all workplace-related laws and regulations. In Singapore, the maximum number of hours an individual can work per week is 44. A complete HR software platform will ensure that this is taken care of, and helps the organization with compliance. It also provides notifications and alerts when statutory requirements are not fulfilled.
7. Self-service
Manager self-service accelerates HR processes. Tasks such as the evaluation of candidates, collecting data on performance, and filing expense claims are some such tasks. Employee self-service allows workers to manage personal information, verify the current state of their incentives, ask for time off, etc. Both types of self-service features are essential for an HRMS to be considered a complete HR software platform.
8. Total rewards and benefits
The benefits administration feature is focused on assisting employees when selecting the most-fitting benefits package – based on their circumstances. This module should administer and track employee benefits, exhibit available benefit packages, enable enrollment, and support HR in calculating benefit costs.
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9. Performance management
This is a core feature of a complete HR software platform, and you cannot do without it. It keeps track of goals, and facilitates the employee and the organization’s evaluation process, and supports course-correction when necessary. Modern HRMS solutions also incorporate 360-degree performance feedback and continuous 'in-the-moment' feedback options to support modern ways of performance management.
10. Talent management
Talent management is a critical function in the modern workplace. Talent acquisition, employee engagement and retention, learning and development, career planning, and succession planning are all functions that a complete HR software platform will have to support. An ideal HRMS solution will aid in establishing talent pipelines so that your company can avoid critical skill and experience gaps that could hinder performance and also use data to enhance decision-making and performance.
11. Global workforce compliance
Complying with multiple regulations and laws for different kinds of workers is a challenging task but something every company has to deal with. When your company is spread across several nations or territories, this becomes more complicated. The number of these regulations is only expected to increase as we see more models of work emerge – such as remote work, hybrid work, etc.
You need comprehensive HR software capable of managing multiple tax regimes, labor regulations, and compliance reporting mechanisms. An HRMS platform that is able to keep up with changing regulations and support HR professionals in staying compliant is essential for most businesses today.
12. Data analytics
A major advantage of a complete HR software platform is that it enables the collection and analysis of data that can be used for data-driven strategic decision-making. Since a complete HR software platform integrates multiple HR functions, you will be able to obtain a unified view of employees and their performance. It should provide analytics, visualizations, and summaries specific to your system's data and be fully customizable.
13. Learning and development
As the business environment evolves, every employee must improve their skills. A complete HR software platform or HRMS comes with a learning & development module that assists in identifying disparities in existing skills vs requirements, if any, and redirecting employees' training requirements. In addition, you will be able to track training costs. Certain platforms also include artificial intelligence (AI) that enables the forecasting of learning requirements and the individualization of learning experiences.
14. Travel and expense management
It can be challenging for a large company to keep tracking everyday office expenses or travel costs. Without a travel and expense management module, this turns into a monumental undertaking. A complete HR software platform, on the other hand, allows you to establish weekly or monthly expense limitations and implement reimbursement policies. Thanks to the ability to upload invoices for an approved itinerary, employees who travel can receive reimbursements with no difficulties.
15. Workflow optimization
HRMS platforms enable businesses to automate a great deal of daily tasks that hinder the efficacy of HR administration. Using a complete HR software platform, you can set up integrations between different functions so that the events of one trigger an action in another. For example, a report may be automatically generated after a performance review meeting and the necessary managers will be automatically notified for their approval.
Learn More: 50 Key HRMS Features That You Should Know Of
Understanding Cloud-based HR and Payroll: A Key Component of Complete HR Software
A discussion of the key features of an end-to-end HR software platform is not complete without focusing on cloud-based HR and payroll. One of the main reasons companies take on an HR difital transformation is to streamline payroll.
Historically, automated payroll was typically managed by specialized applications or point solutions. However, it is becoming increasingly prevalent for cloud-based HRMS to include payroll functionalities. A distinct advantage is that the Core HR module already stores essential employee data required for processing payroll (personal identification, banking information, hours worked, etc.).
The majority of HRMS platforms include payroll solutions with features such as customizable payroll intervals, automated processing and/or reprocessing, online salary slips, international payroll, salary adjustments, and overtime records. You may set up payroll interfaces for additional HR systems, including performance management and attendance, by storing data in the cloud based system and making it accessible to offices all over the world.
Additional benefits of HRMS-based payroll include privacy, safety, and precision, a lower probability of errors, legal compliance, and the capacity to access all your people processes via a centralized portal or access point.
Using a complete HR software platform that embeds payroll and HR automation, you can:
- Access and analyze remuneration, reward, and bonus data.
- Eliminate the need for manual data entry.
- Lower the payroll team's staffing timelines and expenses.
Learn More: Everything You Need to Know About Payroll Software
Types of HRMS Systems to Address Your Complete HR Software Needs
An end-to-end HR software platform can be deployed in three ways, depending on what your organization needs and its digital infrastructure.
1. HR software on-premise
On-premise deployment makes use of the organization's infrastructure to deploy hardware, like the servers that host the HRMS. In this implementation setup, the corporation using the services is responsible for maintaining the hardware and software.
2. Privately-hosted HR software
The difference between privately-hosted and on-premise configurations is that the server and associated assets are managed by a provider of third-party services. Here, the service provider is responsible for the upkeep of the infrastructure as opposed to the company.
3. Cloud-based HR software
Cloud-based implementation is the most common and convenient option because the software vendor is responsible for maintaining the servers, associated hardware, and software updates. The company using the services simply pays a yearly or monthly fee. Deploying a complete HR software platform on the cloud provides advantages such as:
- Easier integration of evolving technologies such as artificial intelligence (AI): In an HRMS, AI is actively used to identify patterns, expedite and automate multiple processes, and even predict employee behavior so the company can take proactive steps to improve employee experience. Cloud-based software suites, such as Darwinbox, use AI features right out of the box, and ensure better efficiency and productivity.
- Intuitive and engaging UI: Modern HRMS platforms have an intuitive user interface that makes usability simpler for HR teams and employees to use. Cloud-software vendors like Darwinbox invest in innovative UI/UX practices to incorporate subtle changes in the interface and provide users with a smooth experience. Thanks to the HRMS being hosted on the cloud, it is easier for the HRMS vendor to regularly update the UI/UX without having to work with the organization to deploy the changes.
- Greater customization: Cloud-based HRMS platforms are easier to customize and configure, using process flows, without the need to write code afresh.. Cloud-based HRMS platforms such as Darwinbox are modular and composable, and enable you to build the kind of HRMS and the kind of workflows you need based on the kind of business you operate and the nature of your workforce.
- Better support for remote and hybrid work: In the post-pandemic era, remote work is becoming increasingly common. Cloud-based HRMS platforms support all features required to manage HR tasks in a remote/hybrid work environment.
- Third-party APIs and integrations: Cloud-based HRMS plaforms support integrating your HR system with third-party vendors so you can build yourself a complete HR software platform with additional software applications you may want to optimize processes. Darwinbox, for example, integrates with a host of other apps – from Salesforce to WhatsApp – which is only possible because it is a cloud-based HRMS.
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How HRMS Can Streamline Work and Improve Efficiency
A complete HR software platform or an HRMS is a boon for organizational productivity. It can streamline work and improve efficiency by:
1. Providing employees with timely access to data
Remember the time when HR data was shrouded in secrecy? If a person in finance wanted a copy of the report, they had to submit a request to the HR department, which would be followed by an email containing, for instance, a monthly census report. That is where a complete HR software platform differs from legacy HRIS management software.
It enables pre-approved information access for staff members beyond the HR department, thereby increasing employee productivity. Data has become an extremely critical piece in the workplace today, and access to the right kind of data at the right time can significantly improve decision-making and productivity.
Also, until recently, HR teams used paper forms for all things employee-related. If you use a complete HR software platform, you will be freed from a large portion of the cumbersome paperwork – particularly if you use a cloud-based HR and payroll. A number of HRMS solutions include both manager and staff self-service functionalities to facilitate data submission and search.
Employees are no longer required to look through a shared drive for a form, take a printout and sign it, scan and email it to a supervisor for approval, who then forwards it to HR. A well-designed HRMS will free individuals from this elaborate paper trail and increase employee productivity with regard to administrative tasks.
2 . Improving agility and adaptability to market changes
HRMS software can enhance the agility and adaptability of a business by allowing it to adapt rapidly to evolving market conditions and customer expectations. Powered by real-time insights into HR metrics, it is possible to identify talent deficiencies, nurture skills, and respond to evolving company needs. Additionally, the complete HR software platform brings visibility into HR processes, allowing you to optimize your people processes and make more informed decisions. This minimizes the risk of errors and inefficiencies.
3. Saving time and effort through automation
A complete HR software system will allow you to configure rules-based processes in which an action is implemented immediately if a particular set of criteria are met. For instance, you can create vacation rules or timetables and empower employees to request time off with ease. They do not have to look up the rules before applying, and managers do not have to use their subjective judgment.
The HR software governs regulations, relieving employees and administrators of these tasks. Employees can use their time for more strategic activities that might add more value to the company.
Learn More: Key IT Strategy & Implementation Best Practices for an HR Digital Transformation
The Benefits of Using an HRMS Platform or a Complete HR Software
We have already discussed how an HRMS can streamline work and improve efficiency. Let us look at the other benefits of using an end-to-end and complete HR software platform:
1. Centralized data storage
The ability to store all HR information in one location is a the biggest advantage of using an HRMS. Having a single source of truth is essential while managing enormous amounts of employee data, procedural records, etc. By having a centralized location for HR data, you will be able to collect and monitor all the analyses and insights your organization needs. This improves data accessibility and with democratizing data, ensures that there’s smooth and transparent information flow between teams or departments, and decisions and strategy are data-driven. You can minimize the risk of human errors when managing the most vital of your business components. Benefits administration, payroll computations, and other fundamental tasks are now significantly more accurate. This results in fewer mistakes and more savings for the company.
HRMS platforms also take appropriate steps to protect the authenticity and confidentiality of HR data. Features like role-based access, time-bound passwords, and security integrations make sure that your data receives the maximum level of security possible.
2 . Adherence to regulatory and compliance norms
Modern, next-gen HRMS systems can aid businesses in ensuring legal and regulatory compliance. This will be done by optimizing compliance-related processes and providing real-time compliance data. This can assist businesses in avoiding expensive legal or regulatory violations while minimizing the time and effort necessary to handle these tasks.
3. Exceptional employee experience
Bureaucratic HR processes have always been a thorny area for employees. Complete HRMS solutions can ensure that HR leaders can offer a more open and inclusive HR environment and offer facilities or features that can help increase employee engagement and satisfaction.
Features such as portals for self-service, internal portals for social networking and collaboration, 360-degree performance management, etc. are part of modern unified HRMS plaforms so employees can gain access to real-time information regarding their accomplishments, goals, and progression. This can contribute to increased engagement among workers and, ultimately, retention.
4. Cost savings
The HR department has multiple responsibilities across the employee lifecycle, and theserequire a large HR department with large budgets. Hiring competent staff members is an expense for any business, particularly a start up or small/medium-sized business. Even for a small human resources department, a complete HR software platform can automate several of these tasks and boost productivity, thus allowing the company to channel budget towards strategic HR tasks smartly.
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HRMS vs. HRIS: What is an HRIS Software?
You may sometimes hear "HRIS," an abbreviation for human resources information systems, used in place of "HRMS." Historically, IT departments used to be referred to as management information system (MIS) divisions in the 1980s. When HR data and procedures were computerized, HRIS emerged as a subset of MIS.
Electronic capture and management of employee information is the primary purpose of HRIS Systems. So HRIS is the acronym used by many HR professionals to characterize the digitization of human resources documents, processes, and reporting via software solutions.
As technology advanced, the system evolved beyond only employee records keeping – HRIS gave way to complete and popular HR software platforms in Singapore that were also referred as Human Resources Management Systems or HRMS. The two are not identical, and HRIS management software is often a smaller piece embedded within an end-to-end, complete HR software platform.
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Choosing the Best HRMS Systems in Singapore
Globally, industries are increasingly turning to HR tech solutions to optimize their workforces and operations. The growth of the sector has been fueled by the digitization of HR processes and a rise in flexible working arrangements across multiple industries. Companies across sectors now have a plethora of options when it comes to choosing the best HRMS systems in Singapore.
Recent reports indicate that the Asia-Pacific (APAC) region is leading the way when it comes to the global HR technology marketplace, with an expected growth of just under 12%. By 2031, this market is projected to reach $76.5 billion. Singapore's GIC is expected to buy Works Human Intelligence, a Japanese provider of human resources software, for $2.6 billion. Further, Microsoft recently announced that it had struck a strategic partnership with human resources giant Darwinbox to expand and deepen its presence in Singapore.
Amid these market conditions, how do you zero in on the best HRMS system in Singapore and get started with the digital HR transformation journey for your company? Here are the four key selection parameters:
1. Do the modules of the HRMS align with your needs?
Since there is a vast selection of HR software solutions in Singapore, it is prudent to first determine the components you specifically require. Some modules will enhance the individual departments of the human resources division, while others may be of limited utility.
It is essential to recognize that you may not need all of the elements of a robust HRMS. You could also choose to start with a few modules and then upgrade and expand your HRMS platform over time. Check to see if flexible plans are accessible as per your convenience.
2. Is the end-to-end, complete HR software easy to use?
While evaluating the vendors, you must consider the software's usability by looking at it from the end-user's perspective. It should be simple, intuitive, mobile-friendly, and employee-focused so that your employees can actually use the software the company has invested in. The deployment of the HRMS shouldn't have an adverse consequence of increasing the time your employees spend on learning how to use it.
3. How hard or easy is it to scale the solution?
Scalability is another crucial aspect to take into account when selecting the top HRMS solution in Singapore. Selecting an HRMS suite is an investment for the long term, and considering the country's thriving economy, your business is bound to expand. It is essential that your HRMS 'grows' with your organization in order to accommodate whatever additional departments or processes you may introduce in the future. Search for a platform that streamlines routine tasks using AI or machine learning, so you can gain from the benefits of scale.
4. Does the software play well with existing business and tech systems?
Today, human resources functions are tightly integrated with every aspect of a company's operations. Therefore, the best HRMS solutions have to be compatible with the software you use daily. It is possible to construct software integrations using either predefined connectors or customized APIs.
The HR software vendor must offer API documentation that facilitates the HRMS's integration with other popular apps, processes, as well as data sources. This guarantees that these tasks are performed more efficiently.
Learn More: Indonesia’s Chandra Asri Partners With Darwinbox To Accelerate HR Digital Transformation
Steps for Implementing a Complete HR Software Suite
A full digital transformation of your HR function can seem daunting, but it offers overwhelming business benefits, especially if you opt for a top HR Solutions platform like Darwinbox. Darwinbox HRMS combines core HR functionalities with AI and a streamlined UX to deliver a people management solution that’s easy to use. Before finalizing an HRMS systems list for implementation, learn more about how Darwinbox can help your company. Schedule a demo today!
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