Table of Content

Introduction

Today, yes, we can say that we are in a modern technology world. Modern technologies created wider opportunities for various businesses in the industry. And in this modern world, businesses want their work done in no time. Therefore, today in this blog post, we will be exploring the HR management software that completely helps businesses automate their human resource workaround a lot easier and more effectively.

What is HR Management Software?

HR management software, also known as HRMS (Human Resource Management System) or HRIS (Human Resource Information System), is a software application that helps organizations manages their human resource (HR) processes.

The Software can help automate many of the tasks involved in HR, such as recruiting, hiring, onboarding, payroll, benefits, performance management, and training. Human resource management software can also help organizations comply with labor laws and regulations.

Why Invest in HR Management Software Development for Business?

There are mainly two key factors that make HR management software development a good idea for your business.

On the other hand, the whole industry moving towards innovation showed that remote work is the future of any business, especially in the field of IT sector and software development.

The success of a company depends on its human resources and capabilities. Human resources are the core of the business structure; therefore, fluency is a must to drive the business to the success road. To meet the needs of a modern workforce, a company must know how to manage their employees.

It helps small companies and large corporations to make their HR department more flexible and improve work fluency. Overall, it builds the HR department more strongly and works capably to help achieve company’s core business requirements effectively.

There is a wide range of HR management software that many companies utilize to access their employee's database more easily and effectively.

Let’s see how many types of HR management software’s.

Types of HR Software in the Industry

There are various types of HR software available to assist HR professionals and organizations in managing their human resources effectively. Here are some common types:

Human Resource Information System (HRIS): ATS software to streamline and automate the perfect candidate recruitment process for the job title. It helps HR teams manage job postings, track applicant information, schedule interviews, and collaborate with hiring managers. ATS software is mainly used for candidate recruitment that includes features such as resume analysis, candidate interviewing, and screening.

Applicant Tracking System (ATS): ATS software is to streamline and automate the perfect candidate recruitment process for the job title. It helps HR teams manage job postings, track applicant information, schedule interviews, and collaborate with hiring managers. ATS software is mainly used for candidate recruitment that includes features such as resume analysis, candidate interviewing and screening.

Learning Management System (LMS): An LMS is used for training and development purposes. It allows HR departments to create, deliver, and track employee training programs and courses. LMS software may include features like course creation, content management, certification tracking, and reporting.

Performance Management System: Performance management software assists in setting performance goals, conducting employee evaluations, providing feedback, and tracking performance metrics. It helps HR professionals streamline the performance review process and facilitate ongoing performance discussions.

Employee Engagement and Feedback Software: This type of software focuses on enhancing employee engagement and collecting feedback. It often includes features like employee surveys, pulse checks, recognition programs, and sentiment analysis to gauge employee satisfaction and sentiment.

Time and Attendance Tracking Software: This software automates time and attendance management, eliminating manual processes. It tracks employee work hours, handles time-off requests, calculates overtime, and generates attendance reports.

Benefits Administration Software: Benefits administration software simplifies the management of employee benefits programs. It helps HR teams handle enrollment, eligibility verification, benefits selection, and communication-related to employee benefits packages.

Payroll Software: Payroll software automates payroll processing tasks such as calculating wages, deductions, and taxes. It helps HR departments ensure accurate and timely payroll management, generate pay stubs, and comply with legal and tax regulations.

Employee Self-Service Software: Employee self-service software empowers employees to access and manage their own HR-related information. It enables employees to view pay stubs, update personal information, and submit time-off requests, and access company policies and documents.

HR Analytics and Reporting Software: HR analytics software collects and analyzes HR data to provide insights and support data-driven decision-making. It helps HR professionals identify trends, measure key performance indicators (KPIs), and generate reports on various HR metrics.

These are just a few examples of HR software types available in the market. The specific needs and requirements of an organization may vary, and different software solutions can be combined or customized to meet those needs.

The Key Features of HR Management Software Development

Now that you have decided to choose the HR management software to automate your HR department workforce, it’s highly important to know the key features that you should add to your software. Features make your software more valuable to your customers; let’s explore some of the key features;

Recruitment & Hiring: The best part you can add to your HR management software is automating recruitment and hiring processes. It removes a lot of time and money involved as the software will handle all interviews and hiring operations and also provide you with hiring templates to follow up the recruitment process more professionally and effectively.

Employee Portal: As companies make their environment more advanced and modern, it also becomes essential to use smart technology. An HR management software offers you an Employee portal where you can handle and see all of your employee's database from their joining date to leaves, salaries, insurance plans with banking, and paid time options. This allows an authorized person access to their complete records in real time. The HR department can save a lot of time and money supervising things as compared to the functions that are done manually.

Payroll: Managing large numbers of employees completely manually is no easy work. Their records, salaries, etc., requires a proper workforce from the HR department. Therefore, HR management software development offers you an effortless way to manage all of your company employees' databases. A payroll feature function to calculate a large number of employees' salaries within minutes and allows you to put more focus on core work. The risk ratio of any mistake is less, as the calculations will be based on your provided data. Simply put, it allows you to handle compensation and benefits, including salaries, allowances and overtime rates in an organization, through its well-defined formulas. This can be said to be one of the most valuable features of HRMS software.

Workflows: The workflow feature allows companies to automate their daily repetitive tasks and enables easy-going work facilities. HR management systems can send automated notifications to company employees in seconds. HRMS reduces the company's manual paper workflow-related operations and speed-ups the work capabilities even higher.

Time Tracking & Leave Entitlement: Just like manually managing employees' databases is hard, similarly, for the HR department handling employees' time and leaves can be daunting. This feature saves you time as it can track each employee's office time and the leaves they have taken so far. One of the distinctive features of an HRMS system is that it provides attendance management. Without any problem, HRMS accurately controls absenteeism and administers functions such as leave entitlement, leave encashment, the total number of leaves taken, and leave balance. Absenteeism is an essential strategic element of the HRMS function for evaluating job satisfaction.

Performance Evaluation: Tracking each employee's work performance is not so easy for the HR department; it makes them put in their hours and hours to evaluate the performance. But with the HRMS system, companies can also automate this process and save time and effort. With the help of HR management software, company HR departments can easily evaluate employees' performance related to the work and tasks they have successfully completed so far and reward them accordingly. Apart from tracking performance, it can guide you to improve company performance efficiency and capability.

These are some crucial features that HR management software can provide you. Moreover, including features also depends on your HR management software development services. Make sure to comprehend industry-leading features and functionalities for your HRMS system.

How Much Does HR Management Software Development Cost?

Before knowing the cost of HR management software development for your business, it’s essential to explore some of the factors. So, what factors am I talking about? Factors which influence the overall development cost. The factors that affect development cost are app complexity, app platform, UI/UX design, features, functionalities, and the development team's experience, knowledge, and location.

These factors gradually affect the overall development cost, whether you are building software from scratch or incorporating a while-label solution to fast-start your business. The cost of HR management software depends on your requirements; therefore, if you are investing in scratch development, then the cost can range from $5,000 to $25,000 in India and $40,000 in the US.

However, keep in mind that these costs are not the final number but just estimation. As I said, these costs can be affected by your project requirements and needs. Therefore, when investing your money in HR management software development, ensure that you know why you need it and what type of solution is required for your company.

What Else Do You Need to Consider?

Whether you hire an offshore or dedicated HR management software development company, checking their capability is important. The software you will develop should be highly responsive and easy to use. It is because managing the HR department is already one of the toughest fields, and if your software increases the complexity of the work, then work will not get easier in any way.

Make sure you understand today’s customer requirements and the solution they need to make their full hand more than free. Also, comprehend more essential aspects such as company size. Today’s modern companies are enormous in terms of their employees. Thousands of employees work in one company, and handling their core database manual is nearly impossible. As a result, such large companies are relying on these types of solutions to make their HR department more effective and efficient.

We have already discussed that HR management software development can benefit your business in a number of ways. And it makes your business smarter as compared to others who don’t use such a system. However, how your business uses this software for its growth completely depends on your vision. That’s why building a strong vision for HR software development is crucial.

How Can Orion InfoSolutions Help You in HR Management Software Development?

Building HR management software is no easy job; it requires a lot of data collection and analysis. Orion InfoSolutions is a leading HR management software development company in India. We hold an eternal presence in all types of industries.

Our best-in-class software development team is professional in their work and provides industry-leading featured pack solutions per your business needs. We can develop small to large and easy to highly complex software with cost-effectiveness and efficiency.

No matter what your requirements are, at Orion InfoSolutions, we work on modern and flexible technologies that help create advanced but highly user-oriented solutions.

If you have any HR management software development project feel free to contact us. We can develop your software as per your requirements.

Conclusion

Companies are expanding their businesses from one land to another; as a result, they are hiring more and more employees to ease the workflow. Therefore, the need for the HR department is increasing heavily. If you are thinking of launching your own HRMS system, this is the right time. You can leverage this opportunity and grow your internal and external business more effectively. It has great benefits such as managing payroll, recruitment and hiring, collecting, storing and accessing necessary data, management of staff training, automatic posting of vacancies on job portals using the integration, etc.

If you are not sure whether you should give it a chance or not, I would highly recommend first consulting with industry experts who have great expertise in such a field and then deciding. The industry is already filled with countless HR software, so make sure that you don’t give them the same solution as they have already. Be unique and provide your customers with a relatively new solution that will allow companies to handle their HR departments more efficiently.

Reach out to us; we can help with solutions that you and your customer need. We are one of the best software development companies. Consult with our top industry experts and expand your opportunities for business growth even more in a cost-effective way.