HRIMS: Empowering HR as the New Strategic Profit Center
Typically, CXO’s have had inclination to view HR department as perennial “cost center”. As a consequence, HR heads who graduated from top B-schools were largely consigned to non-strategic tasks such as maintaining employee records, enrolling employees in healthcare plans, keeping the employee handbook, make sure legal compliances and supporting with the entry/exit process. The time is now ripe to ring in changes the modern technology has brought in.
All of the above tasks performed by HR today can easily qualify under “overhead cost”. What seems to be absent is any anticipation or expectation of driving results which could lead to organization’s growth.
The focus has to be on linking compensation to performance, identifying, educating and mentoring forthcoming executives and developing explicit HR strategies that supports the organization’s goals.
Current Transformed Scenario
However, in the current scenario with the advent of technology and workplace innovation, Industry leaders have started to shape the new role of HR. The one where the HR department is an integral component of an organization’s success and also getting its due share of credit as an indirect contributor to top line growth. With this enterprise-wide change, organizations have started to emerge where due recognition is being given to HRs and CXOs and have started to view them as a valuable asset at all levels.
Consideration of HRIMS as a Technology that can support HR Functionalities
HRIMS is a comprehensive blend of information, design and technology that helps HR departments of all sizes to better manage employees, and the enormous amounts of employee data.
Based on the principle of plug and play modules, HRIMS can accommodate the needs of almost all businesses seeking virtual control of their employees and information to boost productivity and ensure compliance.
HRIMS helps to establish a shared workforce understanding that enable organizations to consistently emphasize on improvement, learning and development to achieve the overall business objectives and create high performing human resource.
According to a research, greater than 60% of the companies surveyed had not implemented HR applications before the year 2000. Over time the execution of HR modules became key to HR professionals due to the rising need to connect HR to overall organization’s business operations.
Today HRIMS solutions assist organizations in better managing the workforce at reduced costs. It can lower HR department costs without compromising on current competence.
How Can HRIMS Solution Transform HR Profitability
With the new and innovative HRIMS Solutions, the complete role of HR department is undergoing a sea of change and the concepts once thought to be infeasible are quickly moving to actuality through technology
With HRIMS you get smart reports, analytics and complete control over organizational data. It includes but is not limited to information like total employee compensation, multiple insights like employee productivity metrics, employee assessment or satisfaction, turnover rate, employee performance index and much more.
Providing these insights and metrics to top management ensures that they have a healthier understanding of human capital and how it is tightly linked to employee productivity, organizational competence and overall business profitability.
When making a business case for an HRIMS solution, reminisce there is more to this system than just plain vanilla benefits. Considering qualitative benefits is a vital component in evaluating the overall success of any HRIMS solution. For example, high employee satisfaction and a reduction in turnover indirectly impacts the cost savings and corporate profitability.
Key is to interpret these vital metrics and translate it into concrete insights to the top management so that they are able to look at it in totality and take better strategic decisions.
How Can HRIMS Map HR Information to Commercial Strategy
Industry research by Gartner opines that companies that have engaged their HR departments in communicating strategic intents create superior shareholder returns than companies that have not.
Today, the C-level executives want their HR departments to focus on all 3 prospects; People, Process and Strategy to remain competitive and increase the overall profitability, leading to efficiently managing human capital to achieve the overall organizational goals.
As a result, organizations are turning to HRIMS solution to ensure that their systems, processes and strategies become the base for achieving the operational and commercial success using the human capital assets.
How Can HRIMS Streamline both Admin Overheads & Strategic Roles
Given the administrative overhead, multiple compliance requirements and ad hoc tasks that are plunged on HR professionals — the prospects to take on a strategic role by them has remained largely unworkable.
To introduce such roles for HR professionals — organizations should opt for Web-compliant, scalable, easily maintainable, and cost-effective HRIMS solution that can efficiently manage HR processes and more importantly people.
HRIMS will ensure HR professionals largely managers to rightly propagate strategic objectives with more focus and in turn be more productive. They can now better nurture both their planned and day-to-day responsibilities.
How Can HRIMS Make HR Information Management Useful for Employees
Making information easily available and reachable to employees can be another way to reduce indirect costs across any organization. Each employee has certain information needs, which become the starting points for multiple organizational processes. Self-insertion, review and changes to employee information such as (i.e. birth, adoption, marriage or death information, details for holidays, maternity, etc.) accelerates the information gathering processes. And it frees up the HR department so that they can emphasis more on strategic activities.
HRIMS Solution takes these employee self-service portals one step ahead and convert them into functional modules that can be utilized to collect and distribute information via a web page, rather than a paper based system.
Takeaways — Leveraging The New Profit Center
With improved technology, HR departments can now derive better value by strategically managing both people and processes. And with HRIMS implementation they can empower their Organization and become the new profit center.
Organizations can now achieve superior results than perceived by recruiting more and more HR professionals and expecting results with their non-strategic operational efforts.
Slowly and gradually CXOs are finding that HRIMS though hidden is the most valuable profit resource for their Organization.
If you are looking for an HRIMS solution that fits your current as well as futuristic goals, please get in touch with us and find out how we can be of assistance.
For a quick demo, connect with me at firstname.lastname@example.org.
Visit our HRIMS Solution and product features for more details.
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