That’s why an organization’s workforce is often considered its most valuable resource, because while great people can overcome a lack of process or technology, it’s much harder to forego having great people in place.
And while great people can overcome a lack of process or technology to still put out a great product, the best results will always come when great people are provided great technology and supported by great processes.
But the constant flow of employees in and out of an organization can make effectively and efficiently managing the support needed at each stage of the employee lifecycle a difficult task for employers and human resources teams.
The infographic below illustrates the role of HR technology at each stage of the employee lifecycle, from hire to retire.
An applicant tracking system (ATS) is an online platform that simplifies and streamlines the entire recruitment process – from sourcing to selection – by allowing recruiters and hiring managers to seamlessly to direct every stage of the process all from one electronic system, eliminating the never-ending paper chase of traditional recruiting. Every ATS is different, but most will include access to an online resume database, automated hiring workflows, communication capabilities, and reporting tools.
Check out this video to learn more about how an ATS platform works: G&A Recruit: The Smart(er) Hiring Solution.
A big component of a successful onboarding program is removing the hassle of all that tedious paperwork employees have to complete. The first day on the job is already stressful enough for a new hire without the added inconvenience of required employment paperwork. Investing in an online employee onboarding technology platform allows employees to complete the majority of this paperwork (like W-4s, direct deposit authorizations, I-9 forms and other consent forms) well before their first day. Electronic employee onboarding programs also reduce paper costs while minimize the possibility of errors by providing new hires online access to all necessary employment forms so they can easily review, complete, sign and submit their forms within minutes.
Switching from a paper-based benefits enrollment process to an online enrollment process comes with a wide array of advantages. Not only does an online benefits enrollment process save time, but it also gives employees the time and independence to make their own elections, and helps reduce costly mistakes and errors.
Online time and attendance platforms not only reduce errors and help managers keep track of days of requests, they are also vastly more efficient for employees to use than paper-based timekeeping systems. (Along with some other really great advantages.)
Payroll is one of the biggest line items in an organization’s budget. Processing payroll can also be one of the most time-consuming aspects of an organization’s HR functions, and when it’s not done right it can also be the source of some serious employee complaints.
Payroll technology platforms help minimize the potential for errors, and can greatly reduce the time it takes to process a payroll.
With the “skills gap” widening as older employees exit the workforce faster than new employees can fill their shoes, employee development initiatives and corporate training programs have become a priority not only amongst large employers, but small and mid-size businesses as well.
Online Learning Management Systems (LMS) provide employers with convenient options to help train and develop their workforce’s skills and abilities.
As with many employee management functions, employers are now taking advantage of online HR technology platforms that allow them to more efficiently streamline the performance management process. In many cases, an online performance management tool allows employers to more effectively evaluate and record employee performance, as well as providing a place for managers and employees alike to keep track of organizational and personal performance goals, record journal entries and maintain an ongoing performance record. These platforms tend to be more popular among larger organizations, mostly because small and medium-sized businesses often feel the price is prohibitive unless they can access discounted rates through an HR outsourcing provider.