You may be trying your best to scale your business and achieve all goals, but research shows that majority of the people miss concentrating on one of the most important elements, the human capital. Managing employees is only going to be a success when you are also trying to understand their problems and provide relevant solutions.
One of the most common issues in managing human resources at any company is low engagement. This single issue is caused by a number of different factors like late pay, low transparency, low career growth, and so on.
There are a number of solutions that help in reducing the turnover rate and increasing the retention and engagement rates. One of the most advanced ways is to use technology and automation in managing the employees.
HR software in Pakistan is making a lot of positive noise. Many companies who tried to raise their employee engagement saw an increase in the overall performance and profit margins.
Overall, digital transformation has brought a lot of solutions to your everyday HR related issues. Companies have started gaining competitive advantage by embracing technology and innovation. According to Forrester Research, 91 percent of the companies are either using digital-first technology or are getting ready to adopt it soon.
Making Your Company Agile and Adaptable
Businesses must be agile and adaptable to respond quickly to changing market conditions. Staying the course isn’t always an option. According to a recent research (PwC), 77% of CEOs believe their company’s future success depends on being able to change faster than competitors.
Among the strategies that can change the company’s future, employee management takes a top position. HR and payroll software in Pakistan is making noise for this very reason because employee engagement and retention both are important and this software helps in attaining both.
This software is designed to address the challenges of the modern business world, helping companies navigate the progressing setting with agility and efficiency.
The Power of Human Capital
Human capital, also known as employees or workforce, is any company’s most valuable asset. Managing them the right way is not as challenging as it used to be. Employees are the most essential factors for a company, shaping it for success.
The following points prove that indeed, human resources in a company have a lot of power in impacting business and its growth. HRIS software in Pakistan not only helps in boosting productivity but also attracts top talent and helps in retaining them. Let’s discuss these points and more below:
Idea & Innovation
Diversification is promoted in the world because every individual has different thoughts, different ideas, and different backgrounds. Bringing fresh ideas and creative solutions to the most challenging tasks is the outcome of engaged and satisfied employees coming from different fields of life.
Payroll management software has been known to help employees in not worrying about their payroll as their attendance, leave records, payroll, and tax calculations are all calculated automatically with high transparency.
Did You Know?
84% of executives believe that innovation is the reason that helps in their company’s growth strategy.
There is no doubt about the impact of employees who are engaged and motivated, on productivity and performance overall. It was found in a study by Gallup that at least 21 percent increased productivity was seen when the employees were engaged.
Talent Attraction & Retention
A strong workforce not only attracts top talent, but also helps in retaining valuable employees and reducing turnover costs. Companies with a strong employer brand experience 50% lower turnover rates as shared on LinkedIn.
We are part of the 21st century and whether you want to or not, adapting is the only way forward. Innovation, automation, and human resource management all intertwine to give the best possible outcome for any company.
Employees, thus, now have become the driving force behind the company’s productivity, customer satisfaction, and higher growth. This is exactly why researchers and industry experts believe that employee happiness, satisfaction, and engagement are crucial to a company’s success.
It was found that highly engaged employees are 21% more productive. In addition, the companies with engaged employees experience 59% less turnover. Similarly, almost 73% of customers say a friendly employee is key to a positive experience. All of these statistics help in giving the same outcome: employees are the backbone of any company’s success
Now, to make sure that the employees are engaged, satisfied, and happy, automation has shown a remarkable outcome in the said variables. It was seen that HR departments save an average of 30 hours per month by using good HRIS software. In addition, if you are investing in the HR software, every dollar that goes into the HR software brings a return of $9.13 in savings, on average.
Another statistic was found showing that companies that use an ATS, applicant tracking system, see a 38% reduction in time-to-fill positions.
In conclusion, HR software is a game-changer for organizations looking to use the full potential of their employees. Just know that HR software is your ally in the journey towards success as it:
- empowers your workforce
- optimizes your operations
- paves the way for a brighter and more prosperous future