How HR Software Can Reduce Employee Turnover? - PowerPoint PPT Presentation

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How HR Software Can Reduce Employee Turnover?

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Employee Turnover or Employee retention is one major concern of HR practitioners around the globe. 48% of HR Managers believe that employee turnover can costs business huge and can even place the enterprises in those shoes that they never dreamt of. It can pull down the business to nowhere, deprived with all suffices. – PowerPoint PPT presentation

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Date added: 9 December 2019
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Title: How HR Software Can Reduce Employee Turnover?


1
How to Configure Product Variant Price in Odo V12
How HR Software Can Reduce Employee Turnover?
OPEN HRMS
www.openhrms.com
2
  • INTRODUCTION

If a business manager is offered with a question-
what is the costliest affair in his workspace,
about 90 percent of the business managers/
entrepreneurs will have only one single answer
i.e. the Employee Turnover. Employee Turnover or
Employee retention is one major concern of HR
practitioners around the globe. 48 of HR
Managers believe that employee turnover can costs
business huge and can even place the enterprises
in those shoes that they never dreamt of. It can
pull down the business to nowhere, deprived with
all suffices. Today thereafter understanding
how detrimental the employee turnover can be, the
organizations have started pulling in many
strategies to reduce employee turnover rate in
their business place. In order to protect
themselves from the fear of losing time, energy
and morale, companies have started investing in
various mediums like HRMS to stay immune from the
malice of employee turnover.
3
With the latest technological crop- HR software,
in other words, a human resource management
system, business organization believe that they
can significantly curb the practices of employee
leaving the workspace. Because, with an HR
software, every human resource management
undertaking gets automated and initiated
on-time. With manually handing of employee tasks
and requirements, there is no guarantee that each
individuals requirement is covered or met. With
a larger workforce, employee management becomes
all more challenging. Here the chances of
mistakes, rectifications, quick resolution to
issues are barely lesser. And these management
inadequacies often pave the way to an employee
leaving the office, without prior notice or
correspondence. Ultimately leaving the business
organization to suffer from all losses.
4
The born expenses and time spent overtraining the
employee is gone futile, pushing the company all
way back to the starting point. If we look
closer, the large percentage of employee turnover
is on account of the following circumstances 1.
Lack of career development opportunities. 2. Lack
of good working environment' 3. Management
behavior. 4. Job characteristics, compensations,
and benefits. 5. Work-life balance. However, if
the business organizations start to take care of
the employee issue wisely and wholeheartedly,
employee turnover can be prevented to a great
extent. An HRMS can be one medium to regulate the
outgoing of employees in an organization.
5
So far you would have read many articles on how
HR software profoundly takes care of automating
the administrative tasks and significantly
improving the return on investment(ROI). However,
this article introduces you to the new dimension
of HR software i.e. how an HRMS can reduce the
employee turnover in a business organization. If
you are keen to know, continue reading the
article. Here are the ways an HRMS helps
business curb the issues of employee
turnover. Improve Employee Engagement Many
studies conducted so far in the field of Human
Resource Management ascertains that 87 percent
of employee turnover is on account of a less
engaged workforce. If employee engagement is
settled, the companies can guarantee long
employee retention within their workspace. So how
an HR software, succeed in establishing employee
engagement. Here we go.
6
HR software often comes in a modular fashion. It
comes integrated with several management modules
like recruitment management, onboarding
management, employee appraisal, employee
benefits, and so on. Therefore, every aspect
revolving around employee is looked after and
streamlined by the HR software. Before, the
joining of a new employee in a business place,
the HR software helps the HR Manager or other
designated to plan onboarding requirements. And
as soon as he steps into the office, he is
delivered with all sufficient information
pertaining to company protocols, the important
newsletter for learning about his new workplace.
With access to the company software that comes
integrated with HRMS, the newly joined is
all-powered with necessities to liberate himself.
He need not wait for his superiors to spoon feed
him each element, be it the professional or
personal development. Thus the boredom of any
newly recruited employee can be easily erased
with an HR software. Right from the beginning,
the employee will feel engaged and valued. The
continual education, quick feedbacks, and
responses, thus help in reducing the employee
turnover in a business, propelling the company to
reach greater heights in lesser time. Also,
employee engagement via HR software will brew
future company leaders in a short span of time.
7
Track Employee Performance and Recognition Employe
e turnover cannot be categorized as bad practice
if your workers or employees are failing to meet
the company expectations. However, the management
need to check whether its the underperforming
employees are stepping out or the rated
performers. In any case, monitoring employee
performance is a tedious and challenging task to
conduct. However, with an HR software,
monitoring the employee performance becomes easy
as there is many specialized breed software that
takes care of employee performance part. There is
software like Employee Time Tracking, where the
companies are facilitated with the options of
employee time tracking. Both managers and
employees can without much of stretch monitor
their performance progress, abilities and
achievements. The managers can then timely
allocate the guidelines and further necessary
pushes to employees in order to accomplish their
tasks. With the help of employee timesheet or
employee tracking software, both workers and
employers are benefited.
8
While employees are benefitted with clear
monitoring of their performances, improvements
and scheduled reviews, employers or managers in a
business organization are benefitted with
assessing their workers in a more quantifiable
way. An HRMS software will help the business
managers to provide relevant feedback to their
employees based on their performance, determine
appropriate assignments and thereby recognize the
employee achievements over the same. In simple
words, the HRMS can reduce employee turnover via
equipping the employees the right amount of work
based on his skill and monitoring the same,
giving away adequate feedbacks. Thus employees
will feel considered and are prone to stay longer
with the organization. Predictive Analysis for
People Analytics Often an HR software comes with
the power of predictive analysis of employee
turnover and retention patterns. The mammoth
employee data collected via the HR software helps
to draw valuable insights about the employee like
his pattern of leaves, performance indices,
behave and so on. Thus risks and opportunities to
leverage employee can be easily ascertained from
data collected by the HRMS.
9
Predictive analytics thus drawn from the HR data
will help the HR leaders make adequate and quick
decisions upon the situation. The data also helps
them to timely address the employee concerns and
thereby reduce the number of resignations,
terminations, and other panics. To read more
about the importance of predictive analytics in
HR, refer our blog Predictive Analytics in HR To
conclude, With the right HR software, the
business organization can streamline the entire
management of human assets, thereby keep them
happy and satisfied in all phases. A happy
workforce will never think of leaving an office
and will always work for the betterment of their
company. Open HRMS is a comprehensive suite of
application for effective human resource
management. A built-in open-source framework, the
modularity of the Open HRMS application, makes it
highly adaptable to any business types. Your
company can get a birds view of all running
operations with Open HRMS software, thereby
generate evidence-based insights to reduce
employee turnover in your organization. If you
want to assess yourself the potentiality of Open
HRMS software, try our free demo. Were committed
to giving away qualitative solutions to our
clients.
10
For More Information, Check Out the Blog How
HR Software Can Reduce Employee Turnover?
11
Thank You !
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Thapasya Building, Infopark, Kakkanad, Kochi,
India - 682030.
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P.O. Calicut Kerala, India - 673635.
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1LB, United Kingdom
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