How HRMS can benefit SMEs and Startups – Introduction

HRMS can conveniently be understood as a technology that simplifies the functioning and management of an enterprise. In the constantly increasing competition of the corporate world, every enterprise wants to strengthen its work structure and get ahead of others.

The best part about an HRMS is that it is not only for large scale enterprises but also assists SMEs. SMEs and Startups are one of the most potential business ventures that are ready to make their mark in the industry.

The number of SMEs and startups are prominently increasing day by day. To fulfill their requirements there are numerous companies that customise their software. HRMS systems like Juntrax by Juntrax Solutions are specially designed to fulfil the needs of SMEs and Startups. They offer features and tools that would not overwhelm the user and at the same time deliver a convenient and simple user experience.

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Here are some of the ways how HRMS can benefit SMEs and Startups –

There are a lot of ways in which HRMS can benefit SMEs and Startups. They are as follow:

Employee On-boarding

Employee on-boarding is a crucial procedure which is not only important for the company in terms of data but also gives a quick first impression of the company, to the newly hired employee. Any minute error or coordination gap occurred during the process can cause significant problems for the HR team and the company as a whole. With an HRMS, this tedious process becomes synonymous to convenience and ease.

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An HRMS provides quick on-boarding and saves time and cost of the company. It provides predefined fields and allows the employee to fill them, attach documents, crosscheck the information and edit the data if required. Unlike the conventional methods of manual on-boarding and data entry, HRMS provides effective and technologically advanced means which can also be used remotely.

Error Free calculation

Every minute error in the data entry, calculation or documentation can lead to prominent losses for the enterprise. Precision is a necessary virtue required for the adequate processing and storing of a company’s data.

With an HRMS system, you can rest assured of accuracy as a result of automated calculations and monitoring of data. SMEs and Startups often face issues with data management due to limited workforce, HRMS will allow them to compensate for extra resources with its accuracy and precision.

Employee Self Service

Involving HR in every minute activity of editing and updating information might not be the best thing to do. This might burden HR and cause chaos in the workspace. SMEs and Startups can utilise HRMS systems to allow self-service to their employees.

This will enable their employees to edit, update and upload data without any assistance. It will not only save time but will also inculcate a sense of responsibility in the employees. All updates can easily be viewed in real-time and save the pain of hiring extra staff for managing HR.

Performance Management

HRMS allows the admin to monitor the regular performance of their employees. It brings into consideration factors like deadline adherence, work quality, time devoted to work, leave taken and attendance of the employee.

The HRMS system then formulates a proper report for the admin and the manager to assess the performance of their employee. This also helps the employee improve their work quality and evidently increase the work output of the company.

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Processing Payroll

Month ends can be a very hectic time for SMEs and Startups. In the absence of a dedicated team for processing, calculating and managing payroll it would become difficult for one individual to look after all the operations. But with HRMS, all you need is the click of a button to fulfill all those processes.

HRMS like Juntrax by Juntrax Solutions automatically fetches data from other management systems like timesheet management and attendance management. It also provides templates for the final invoice. This makes payroll processing extremely convenient and only requires one individual to do the job.

Monitoring attendance

An HRMS comes with features for the clock in and clocks out under the employee management portal. This allows the employees to mark their entry and exit in the office along with their time of the break and extra hours of work.

This portal is automated and keeps an updated track of the hours of the presence of the employee daily. This information can further be fetched by the system while calculating the payroll of the employee or managing their performance report.

Data Security

Security is a very essential factor for an enterprise. Any confidential data landed in the wrong hands can cause a striking blow to your SME. Manual Data management and security, leave a considerable gap for data theft, mishandling and unauthorised access. But with HRMS, you can guard your data with top quality security tools and features. It will allow only authorised office staff, with the security credentials, to access, edit and update company’s data.

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Conclusion 

Success is an output of good management and a proper work structure. HRMS System is the perfect medium to inculcate these factors in the functioning of your SME and stepping ahead of your competitors.

One of the most common misunderstanding about HRMS is that it is designed to suit large enterprises only. However, there are many dedicated companies like Juntrax Solutions, that are designing HRMS software to suit small and medium sized enterprises along with small team startups.

HRMS systems like Juntrax offer a user-friendly environment for the admin and the employees. It does not require any extra resources and saves you from bearing the cost of hiring a professional team for handling it. lt can simply be managed by an individual having basic IT knowledge. It will help you sustain your work processes by providing remote and flexible access. Purchasing an HRMS can be the best decision you have ever made for the accomplishment of your enterprise.

To get some idea about Juntrax and it features, you can feel free to book a FREE Demo with us!