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A human resource management system (HRMS) is complete software that assimilates core and strategic HR functions into one solution. It usually features an employee self-service portal and a central database. It also automates organizational processes, reorganizes recruiting and lessens turnover. HRMS is broadly classified in two categories: Specialized HR software - It emphasizes on a single module or HR function, such as recruiting or payroll. It usually has cutting-edge functionality and multiple features. It's commonly offered by smaller vendors that can focus on including emergent technology into their platforms. Comprehensive HR software – It covers several modules and has broad functionality. It's usually offered by large software vendors that have remained competitive over the years by acquiring and integrating smaller vendors and specialized software. It is best for businesses that need a consolidated solution to cover their HR needs. A HRMS software typically has various modules like: Applicant tracking - An applicant tracking system (ATS) module allows recruiters, HR and hiring managers to track and handle applicant data and the interview process. Benefits - The benefits module allows managers to track employee welfares, such as insurance, vacation or sick time and FMLA. It also accounts employee data to help companies obey with insurance, tax audits and other regulations. Learning Management - A learning management system (LMS) offers training and e-learning programs. It allows employees to access manuals, classes and even educational games. Onboarding – This module helps HR in managing paperwork and other jobs related to new hires. It can also familiarize employees to company policies, team members and upcoming projects. Payroll - It helps managers in maintaining precise payroll data. It computes and tracks employee wages/salaries and deductions. Reporting and analytics – This module allows HR and executives to leverage real-time employee and performance data to make business and workforce decisions. Talent Management - This module monitors employee performance using competency guides, goal-setting and reviews. Time and attendance - Time and attendance module monitors employee attendance and hours. Employees can log in and out with the help of timecards, passcodes, physical devices, mobile devices or biometric devices. An ideal HRMS includes most, if not all of these features: Self-service portals, Mobile access, Employee database, and Social collaboration and Document management.
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