In the world of people and operations, there is no lack of opportunities for process improvements. Changing business landscapes are pushing the boundaries of human resource (HR) capabilities. Continuous process improvements through agile and Kaizen methodologies as organisations strive to boost employee experience and automate administrative processes make it feels as if it is a never-ending cycle.
With the rapid development of technology and artificial intelligence, automation is no longer an option. Organisations need to jump on the technology bandwagon in order to keep in pace with their peers. From employee data integration analysis, applicant tracking software to screen resumes, and manpower forecasting, technology is deeply ingrained in HR processes today. What is the future for HR then and how can HR reposition itself drive process efficiency within its own area of function?
Capitalise on HR big data
Big data has emerged as the biggest game changer in every organisation and industry, especially for the HR department. Given that HR has access to plenty of employee data, there is a huge room for data analysis and valuable insights waiting to be uncovered. Leveraging big data with HR analytics can help to improve and enhance almost every aspect of HR, from recruitment and compensation to engagement, training and development.
As organisations today are all vying for the same digital talent pool, finding talented HR professionals with a knack for data analytics can be highly competitive. Instead, organisations can start by capitalising on existing talent. After all, training internal employees is definitely a quick and cost-effective option given that these employees are already familiar with existing HR processes.
There are two directions in which HR can undertake in driving the analysis and application of HR big data. The first is to build up a HR Business Intelligence team to accumulate HR data and evaluate the usability of this data. The second is to leverage the data set in designing models and algorithms to predict human resources events, such as turnover rate, promotional potential analysis, and employee performance.
Outsource payroll to save cost and time
Handling in-house payroll is time consuming. It is a delicate job that requires great attention to detail. This workload pressure will only increase as companies expand operationally and in headcount size. Payroll is still a sub-function of the HR department and a tactical process at best.
Outsourcing payroll allows organisations to save time and resources in managing this administrative and complex task. At the same time, a third-party payroll provider is likely to be well-versed in the various local payroll legislations and statutory requirements. This minimises the likelihood of non-compliance.
Engaging a third-party payroll provider also ensures that the organisation’s payroll records are securely stored. These outsourced payroll providers are likely to have secure cloud servers that are highly encrypted. HR departments no longer have to stay fixated on data loss and can utilise their efforts and time to focus on other strategic aspects of HR.
Implement a well-integrated HRMS
A well-integrated human resource management system (HRMS) can be the key to an efficient HR department. An ideal HRMS should contain these various core modules such as payroll, leave application, claims processing, and time and attendance tracking. Data flow between these modules should also be synchronised to facilitate real-time data visualisation and tracking. Some organisations may also incorporate performance management to boost real-time monitoring of employee performance and engagement levels. A centralised HRMS allows the HR department to view HR data from multiple sources on a central platform. This helps to drive insights analysis and easy data visualisation, facilitating quick decision-making.
There are plenty of ways in which organisations can dramatically improve the efficiency of existing HR processes and move towards HR excellence. However, these are not without its challenges. Organisations need to prioritise areas or processes, by identifying critical processes that have direct impact on the department or business. There also needs to be a long-term strategy during implementation in order to ensure the sustainability of these new HR processes.
Based in Singapore, i-Admin offers world-class, easy-to-use payroll solutions using technology and systems infrastructure that exceed industry standards. Our proprietary technology platform provides a singular web-based service that delivers electronic payslips and other e-Services to our clients. We offer payroll services to companies of all types and industries across 15 countries in Asia.
As a leading regional provider of cloud-based SaaS payroll and HR management solutions, we achieve uncompromised efficiency, security and service quality to our clients’ organisations and employees, further helping our clients’ to save on large financial technological investments.