Top 6 HRMS Providers to Consider in 2020

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Smriti
Smriti Rajan comes from a political science and literature background, having an immense passion for writing across varied topics. She has written several articles and blogs for diverse audiences worldwide. She has produced several research publications, policy frameworks, and opinion pieces for think tanks, government institutions and corporates. Alongside this, she writes for a large Fortune 500 clientele and is a key contributing writer for Wikistrat on their EMEA desk. Currently, she resides in India.

HR work is more complex and involved tremendously than before. Hence, many companies use HRMS (Human Resource Management System) — a mixture of systems and processes that connect human resource management and knowledge technology through HR software. HRMS is the management of employee information, from recruiting and hiring to training, evaluations, and much more. The importance and manpower behind these tasks make it critical for HR professionals to have this software for carrying out more efficient management of HR information.

Are you looking for the best in class HR software to help your team streamline employee onboarding, payroll, workforce management, etc? Look no further, here’s a curated list of the best HR software providers and the benefits of having the right software for your organizational needs. 

Finding the right HRMS for your organization

When selecting HR management software (HRMS), you should consider several key elements. Few key considerations: 

  • Understand the essential features of the HRMS and the way it can address compliance problems and challenges posed by a growing workforce.
  • Identify the strengths of several vendors and compare their performances.
  • Do your research and find out which technology best meets your needs.
  • Determine which HRMS offers the simplest user experience for your employees.

Top 6 HRMS providers to consider

 

Oracle Cloud HCM

Oracle Cloud HCM combines various HR operations and functions. These include talent management, and workforce management, within a single platform. It is a wholesome solution connecting every HR process from hire to retire. This is a cloud-based integration across the enterprise, with one cloud unifying HCM across finance, supply chain, and customer experience. This provides a consistent experience across devices, enables one source of truth for HR data to reinforce decision-making, and empowers you with market-leading innovation to affect your needs today and into the long run. 

Workday HCM

This is a cloud-based all-in-one package intended for medium-to-large-sized companies. It is designed to help CHROs of companies of all sizes and industries lead their organizations’ people practices. Additionally, Workday also delivers a skills-based HCM foundation and continuously innovates to enable customer success. 

Kronos Workforce Ready Suite

Kronos’ workforce apps are for businesses, healthcare providers, educational institutions, and government agencies of all sizes. Thousands of organizations – including half the Fortune 1000 – and nearly 40 million people in over 100 countries use Kronos every day. Kronos Workforce Ready provides core and strategic HR services from a cloud-based platform. This platform also integrates employee records and has an easy-to-use interface.

BambooHR

BambooHR’s HRIS software is a web human resources solution providing onboarding, payroll, and benefits management. With real-time software, you’ll access current data from your HRIS software without fear of inaccurate or old data. Bamboo can also process automated requests and approvals. All data is secure with bank-level security, so you don’t have to worry about employee data being leaked.

Sage HRMS

Sage HRMS is an on-premise, HR solution for small and midsize businesses. Primary features include employee record management, payroll processing, onboarding, time and attendance management. Other modules include workforce management, learning management, decision support, and also employee benefits management. 

Freshteam

Freshteam is an intuitive, easy-to-use, and affordable HR software by Freshworks. This platform helps you recruit, onboard, and manage employee information. Moreover, it manages offboarding workflows. It also enables you to draw in top talent through multiple channels like a career site, job boards, social media channels, emails, etc.

Benefits of using the right HRMS 

The right HRMS helps large organizations and small startups increase their rate of growth and productivity. The key benefits of using best in class HRMS:

Saving time: By automating recurring tasks like benefits and payroll administration, employee onboarding, and time and attendance management, HRMS can help make tedious HR processes quick and straightforward.

Enhancing employee experience: With a user-friendly employee portal, employees pan-organization can navigate benefits options easily, review and update information, and also request day off quickly, all of which result in increased employee satisfaction and engagement. Most HRMS platforms allow users to customize their workflow as per organizational requirements. 

Ensuring compliance and security: HRMS can greatly improve your data accuracy which can come in handy during EEOC audits. Moreover, it comes with built-in security, including authentication measures that restrict access to authorized users. Therefore, protecting company data.

Streamlining the hiring process: Recruiting features of HRMS allow you to easily collect resumes, review candidate info, and also speed up employee onboarding and training. 

Implementing better business decisions: Analyzing data metrics becomes increasingly important as your business grows. Therefore, by creating custom reports, HRMS makes it easy for the HR team to analyze – hiring costs, calculate turnover, employee engagement, and use data to help make better business decisions.

Workflow management: Most HRMS platforms allow users to customize their workflow to the needs of their organization and get the best user experience.

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