HR Software

HR software enables organizations to streamline and simplify procedures in human resource operations by performing tasks like employee management, training and e-learning, and other critical aspects related to human resource management.

Top 10 HR Software

These are the HR Software :

1. Paylocity HR Software
2. Workday HCM HR Software
3. Kronos Workforce Ready HR Software
4. SAP SuccessFactors HR Software
5. ADP Vantage HCM HR Software
6. Fingercheck HR Software
7. Vibe HCM HR Software
8. Oorwin HR Software
9. Zoho People HR Software
10. Freshteam HR Software

Paylocity is a user-friendly HR software that optimizes tasks that the HR team performs and lets them focus on other important organizational tasks. It is a cloud-based platform that streamlines payroll management & data management efficiently. Read More

Workday HCM is a cloud-based HR software that is used for financial management, payroll management, and other HR-related tasks. The software manages all HR tasks effectively and provides deep insights into the entire workforce along with analytical features. Read More

Kronos Workforce Ready is an HCM cloud platform that performs all tasks from the pre-joining of employees until his retirement. The software comes with a self-service portal for employees so that they can get complete access to all of their information and in turn saves the HR team’s time. Read More

SAP SuccessFactors offers cloud-based HR management and human experience software. This SaaS model helps in optimizing business model execution with better results. The tool is mainly designed for enterprise-class organizations. Read More

ADP Vantage HCM is a scalable HR software that offers services like talent management, payroll management, time tracking, and benefits administration. ADP is an on-premise software mainly designed for large organizations. Read More

Fingercheck is an HR software that is designed for all businesses right from small to large enterprises. The software optimizes tasks like onboarding, hiring, expense management, time tracking, payroll management, and many more. Read More

Vibe HCM is employee-focused human resource software. The software manages tasks like recruitment & scheduling, payroll & benefits management, talent management, and many more such tasks that are concentrated on employees. It also takes care of training  & consumer support tasks. Read More

Oorwin is an AI-based human resource software platform. It is an integrated platform of Sales, applicant tracking, customer relationship management & Human resource management. The software efficiently manages these tasks and increases the organization’s productivity. Read More

Zoho People offers complete Human Resource software and automates human resource operations. It is user-friendly software and is customizable as per user needs.  The software offers seamless employee experience right from recruitment till exit. Read More

Freshteam is smart HR software provided by Freshworks. It is cloud-based software designed by combining applicant tracking systems and recruitment applications on a single platform. The software effectively manages end to end employee life cycle at affordable pricing. Read More

Market Overview

The HR Software Market is anticipated to grow at a daunting growth rate of around 10% until 2025. The market is generally triggered by the developments in IT, the inclusion of predictive analytics in the HR software process, growing acceptance of cloud among SMEs to efficiently manage field and office workforces, among others.

Furthermore, related benefits like digitalization of HR activities, dropping data idleness, quicker retrieval and distribution of information, refining the scalability of the business operations, digital storage and deep evaluation of data and information at each level, applying role-based system among the employees and management, enhancing security and efficiency, enhancing the efficiency of the employees and bringing about complete employee satisfaction, among others with the software are additional elements driving the market during the forecast period.

The international HR Software Market is categorized based on component, deployment mode, organization size, vertical, region, and company.

Based on the components, HR Software can be split into software and service.

Based on the deployment model, the market can be split into On-Cloud and On-Premises sections. The On-Cloud division is anticipated to control the market since it offers more data security and helps businesses obey with various regulations.

Based on the business size, the market can be divided into SMEs and large enterprises. The SME segment is anticipated to grow during the projected period. This can be attributed to the acceptance and enactment of HR software by various SMEs since the HR software helps in minimizing the load of carrying out managerial tasks and enables employees to focus on organizational development.

Amongst all the regions, North America tops the complete HR software market due to the growing acceptance of technologies like automation, cloud-based services, etc.

Major players in the HR software market are building progressive technologies and introducing new services in order to remain competitive in the market.

HR software is the advanced technology that optimizes the HRM of the company. The software streamlined and efficient working of the HR team and enables them to concentrate on more tactical tasks. Human resource software is the comprehensive software used in financial as well as other operations in the company. Its main functionality is assisting with people management, work automation, and managing employee database. The software comes in various pricing models offered by the best vendors in the market. These are software that is available for startups, small-sized business, medium-sized business, as well as large enterprises. The human resource software enables all sizes of businesses in core functionalities as well as strategic functionalities and manages entire HR work by enhancing productivity.

Vendor evaluations are based on two broad categories: product offering and business strategy. Each category carries various criteria, based on which vendors have been evaluated. The evaluation criteria considered under product offerings include the breadth of offering, delivery (based on industries that the vendors cater to, deployment models, and subscriptions), features/functionality, delivery, product quality and reliability, and product differentiation. The evaluation criteria considered under business strategy include geographic footprint (on the basis of geographic presence), channel strategy and fit, vision alignment, and effectiveness of growth (on the basis of innovations, partnerships, collaborations, and acquisitions).

Paylocity, Workday HCM, ADP Vantage HCM, Kronos Workforce Ready, SAP SuccessFactors, and Zoho People have been identified as visionary leaders in human resource software.

iSoved and Vibe HCM have been recognized as dynamic differentiators in human resource software.

Oracle HCM Cloud has been identified as an innovator in human resource software.

Cascade HR has been identified as an emerging company in human resource software.

HR Software – By Major Regions

Common features of HR software

Best Human Resource Software Features

These standard features are available in almost all HR software:

Organization Management- Human Resource software enables organization management at ease by supporting tasks like time-tracking, updating staff directory, and managing performance.

Expense Reimbursement- The expense repayment procedure enables employers to reimburse employees who have spent their cash on business-related operating expenses. HR software is the technology that automates this recurring task.

Compliance Training- Employee compliance training is coaching that ensures employees meet federal law necessities to avoid a lawsuit, audit, and fine, such as sexual harassment instructions, safety guidance, and coaching on ethics. Human resource software manages all these training effectively and keeps track of them.

Automated Resume Parsing- Resume Parsing is the translation of a free form resume file into a planned set of information appropriate for storage, reporting, and operation by software. Resume parsing enables recruiters to competently direct electronic resume files. This process is automated by the HR software.

Employee Data Management – HR software should comprise a whole directory of employee portfolio that can contain individual information, job and salary history, banking and tax particulars, insurance plans, time off entries, behavioral history, performance response, or any other customized fields significant for the company. This keeps all of the employees’ information connected to the main record, for easiness of tracking and reporting. HR Software (Human Resource software) also offers an employee self-service portal and knowledge management system.

Recruitment - HR software assists with all human resource tasks through the employee lifecycle, starting with recruitment and hiring. Human Resource software also organizes the hiring process for HR divisions with automated HR system features. Companies can post a job opening to numerous websites and social media channels with ease, and even use the software to craft a job narrative. As the applications start coming in, an applicant tracking system (ATS) can automatically receive (and reject) candidates based on pre-set criteria.

Talent Management – Human Resource software with strong talent management HR features consistently assesses employees even post-interview process. Once employed, performance evaluations offer information on employee productivity, customer satisfaction, and more. These programs can provide automated responses, or HR departments can base their evaluations on the analysis offered by the software.

Automated Alerts- Sharing required data frequently to investors takes lot of time. An effective HR management software triggers automated alerts to all owners at the successful completion of user-defined circumstances. Human resource professionals use this functionality for providing remembrances, policy-related information and further interior messages.

Employee self-service - This feature offers employees an option to see, edit, and handle their data. The self-service option usually minimizes a load of HR staff by removing monotonous clerical tasks. It also offers refined multi-channel convenience. HR software at initial stage restricts it in the information access capability for staff.

What are the different types of Human Resource Software?

Human Resource software is distributed into various groups that cover solutions right from benefits administration to workforce management software. The following are the types of HR software:

Talent management software - HR software offers organization-wide employee oversight solutions. The features comprise career management, reimbursement management, employee engagement, and employee appreciation, etc.

HR analytics software - HR professionals leverage Human Resource software solutions to gather and assess business data to help in enhancing productivity. These solutions track employee performance to support businesses in foreseeing productivity and enhancing workforce management.

Core HR software - Core HR software helps in developing a central database through which employee information, such as payroll and benefits data, can be retrieved and preserved.

Benefits management software - This software generally controls the benefits packages. It can be accessed by employees through a dedicated employee portal in which they can pick from the benefit plans provided by their employers.

Staffing software – Staffing software helps in sourcing active and passive applicants on behalf of companies that employ them to manage their recruiting tasks.

Career management software – Businesses use this software to allow their employees to handle their career development. Career management software can be integrated with other HR tools to deliver HR professionals and employee self-service solutions.

Payment management software – Companies make use of the payment management software to handle employee compensation packages that include developing internal compensation plans and bonus structures.

Employee engagement software – Employee engagement software helps businesses in leveraging pulse surveys to gather responses about employees and company satisfaction. Besides, employee engagement software enables organizations to use these responses to execute corporate wellness initiatives and recognize employees.

Employee recognition software - HR personnel uses this software to set benchmarks for employee rewards, as well as track employee growth toward achieving the set goals and HR software help to achieve that. These tools also offer solutions that complement and sometimes integrate with, employee engagement tools.

Performance management software – Businesses make use of this software to recognize and develop employee performance benchmarks that the management can leverage to assess employee job performance. These HR software often include 360-degree response tools that managers and employees can use to rate each other.

Recruiting software – This software typically includes pre-employment selection, which covers contextual check, and reference check solutions. Recruiting software often includes recruiting automation; talent procurement suites and video interviewing solutions.

What are the major market drivers for HR software?

The Human Resource market is driven by the progressions in IT, the inclusion of predictive analytics in the HR process, growth in the acceptance of cloud among SMEs to efficiently manage field and office personnel, among others.

What are the key HR software applications?

Talent Attraction - Attracting a prospective hire is the major need in the recruitment process. Attracting the candidate and directing the traffic towards a company’s hiring page is one place where the major purpose of the HR software. Many professional and job-searching sites such as LinkedIn, Glassdoor, and Indeed also engage machine learning techniques to offers relevant job suggestions to their users. Using the data gathered from a candidate’s activity such as posts, search data, clicks, list of networks, and other such standards, the software helps recruiters by allowing attraction and diversion of talent to companies.

Screening Numerous Resumes - The recruitment division of any HR business unit is loaded with the task of skimming, screening, and sorting numerous resumes collected from applicants. The current Applicant tracking systems (ATS) has already played a huge role in minimizing the load by allowing electronic engagement in the process. The easy transfer of data from one platform to the other, and collaboration amongst many companies and job boards with this software have taken everybody light years forward in the journey.

However, being criteria-based, these systems are restricted by their absence of impulsive elasticity that the addition of HR software loaded with AI can do away with. With the capability to learn, every appointment cycle helps the system build a better resume-matching capacity.

Calendar Management - Scanning through calendars and organizers to fix an ideal slot for a meeting is both a tiresome and time-consuming process even for a personal assistant (PA) who is appointed precisely for the job. Scheduling meetings with applicants, training sessions, and other HR events is another area where the HR software can help in improving efficiency. By stepping into the role of an advisor, AI-driven HR software can help in organizing the whole process of scheduling on an organizational level.

Employee Onboarding - HR software offers self-service forms that allow management or HR professionals to submit onboarding requests. The spontaneous form design and workflow design interfaces allow the personalization of papers and processes to the business need. All the workflows can be customized to the type of job and can specify important owners at each stage of the onboarding process. The software automatically directs onboarding requests for appropriate evaluation and approval.

Performance Evaluations - HR software provides self-serve online forms that are pre-built and contain embedded business logic. Employees can use these forms to submit for performance measurement and the completed forms are automatically directed to relevant stakeholders for further assessment and approval. Also, workflows can be combined with older databases, employee performance dashboards, development, and mentoring workflows and other processes, as necessary.

Why use Human Resource software?

HR software helps Human Resource professionals in automating multiple critical tasks, such as preserving employee records, time monitoring, and benefits, which enables HR personnel to concentrate on recruiting efforts, workforce performance and engagement, corporate wellness, organizational culture, and so on. The human management software can be bought and executed as on-premise or cloud-based software.

Human Resource software streamlines and enhances human resources management in ever-growing ways. By choosing the latest Human Resource software that aligns well with the business operations, any organization can best handles its talent, and keep its employees happy and improve productivity.

One critical area where hr software is used is in the screening, monitoring, and reporting on application processes related to filling positions. With the increasing internet integration, job posts, monitoring open positions, and the ability to store resumes digitally, human resource managers can satisfy recruitment, screening, and perform all operations from a central computer terminal. The capacity to performing searches and monitor jobs and applications significantly accelerate processes that would otherwise be very time-intense to implement.

What are the benefits of HR software?

Employee Monitoring - HR software helps businesses to monitor employee for every facet of an employee’s career growth plan. This comprises collecting information about their performance on training courses, preserving a record of each employee’s points for development, and carrying out appraisals timely. HR software also reassures that the data from appraisals are kept correctly with details on the topics covered, the objectives set, and the response received.

Tracking Leaves and Absence – The Human Resource software can companies in proficiently managing absences and leaves. It streamlines and automates the way a company plans for holidays, keeps track of each employee’s outstanding leaves, computes pro-rate entitlement, and handles holiday requests.

Single View of Data – The HR Software gathers data and allows users to access it whenever required. The data can be viewed at a glance and users can retrieve the same with only a few clicks. This also allows users to intensely drill into the analytics of the data which are pertinent in recognizing trends and noticing problems. It’s a possible solution that releases HR professionals from the chaos of manual tasks.

Decreased Cost - Apart from the less palpable costs like effectiveness or productivity, a good HR system always saves money. A typical standard for the number of full-time human resource personnel employed in a company is 1 HR professional for 110 employees. With a few software solutions, this ratio goes up to about 1 HR professional for 150 employees, meaning a company of 300 employees requires one less full-time employee just to handle their workforce data, subsequently resulting in minimized costs annually.

Enhanced Communication - Most HR systems come equipped with an employee directory. While employees possibly work with the same people and, have their contact details, frequently times their job needs connecting with other colleagues external to their direct department. If all this contact data is deposited in a filing cabinet it decelerates the communication enormously.

Risk Mitigation - Numerous HR software nowadays provides a read and accept a provision that offers a paper track not only showing that an employee was sent a specific communication but that they also have acknowledged the contents of the message.

Improves Regulatory Compliance - Since businesses store all their workforce data and associated information in a single place and also, to be able to deliver automated alerts when it needs to be acted, the compliance with regulatory requirements will be much enhanced. Precise compliance parts where HR solutions can play an important role include GDPR compliance, right-to-work checks, and health and safety training agreement.

Trends in Human Resource software market

Human Resource technology is continuously developing as the industry is inching away from manual tasks towards automated tools. Here are a few Human Resource trends that are presently shifting the momentum of HR.

Blockchain – HR software is making use of blockchain to collect all employee-related data in a safe and accessible database, automate data-based processes, and deliver HR-based scam protection and cybersecurity.

Employee engagement – With designations such as people scientists, chief people officers, and Vice Presidents of people, companies are increasing their efforts to understand and support their employees, thereby growing retention and refining recruiting and hiring efforts.

AI – AI-based HR software is enhancing the recruiting process; one example is Chatbots, which help majorly with candidate tracking and recruiting. AI, along with ML and NLP, are also popping up in other HR solutions including job interviews, corporate wellness, and employee support programs.

Experience matters – Human resource professionals and employers are currently more focused on employee and applicant experience. To hire and preserve the finest candidates for the job, HR teams are concentrating their attention on the experience of the candidate and employee and by leveraging tools that focus on employee engagement, employee acknowledgment, candidate experience, and corporate wellness.

Growing harassment consciousness and procedure – Tech vendors are starting to provide whistle-blower hotlines and other harassment complaint technology that will eliminate a company’s HR department from the process altogether.

IoT – Smartphones offer the baseline of IoT via Human resources by enabling the employees with flexible workspace options while enhancing employee engagement and performance management solutions. Furthermore, companies are executing health and fitness initiatives that make use of trackers that connect to corporate wellness initiatives. Meanwhile, an increasing number of industries are making use of employee wearables that can monitor workers’ actions to report and measure injuries.

Machine learning HR – Candidate monitoring and evaluation, career development, and business management are some of the activities associated with ML in HR. Machine learning includes the study of learning from and making forecasts based on data, and HR departments are applying these systems to regulate issues such as candidates’ possible attrition. These tools leverage data to help control applicant success, possible career growth paths, and the perfect sizes for the team and department growth.

VR and AR – HR software will keep on executing and growing AR/VR software for interviewing, training, and TMSs, to name a few. VR trips of the office, for instance, can provide applicants a tour of the office and plunge them into the company culture during the hiring or onboarding process.

Use Cases

Employee problems can influence delivery and client service

HR software offers tools that enable management for making quick decisions. Furthermore, it also empowers the staff in managing the tasks that they do, along with offering customers a portal where they access all the required information independently online. It also offers documentation management features that keep track of all the data like an employee onboarding and all other detailed communication between employee and employer. Such kind of software enables management to keep track of employee absentee and in turn, helps to manage the risk related to customer delivery by assigning other employees having less work on this task. This way human resource software tracks all the required information and makes sure that the HR team is on the track with managing all the tasks and eases their workload.

HR analytics should be implemented by large enterprises

The major use of AI is into advanced analytics that provides organizations with deeper insights into the system. HR analytics is one of the superior applications of AI that should be explored by the organizations.

Though HR analytics has few challenges it’s the major field that is dominated by psychologists. HR department’s main task is to manage wages and reimbursement costs. These tasks broadened when HR’s started focusing on other tasks like employee motivation.  On the other hand, for improving data quality and understanding their workforce better HR needs advanced analytics.

To overcome these challenge organizations needs added investment into HR analytics that assembles an advanced analytics system for the organization. These analytics processes ease a lot of organizational processes and provide enhanced data quality.

Operational HR tasks should be automated through digitization or RPA

Operational HR tasks like payment and benefits can be completely automated with digitization. On cloud or premise solutions offer automated services of such recurring tasks. On the other hand, for large organizations, the legacy system can check these tasks as they are not easy to put together.

Wherever legacy systems do not allow complete digitization, at that place Robotic Process Automation (RPA) takes care of recurring manual tasks and digitizes them. RPA’s are trained similarly to employees so that they execute recurring actions easily and they also record all the tasks that are completed by them.

AI can recognize workers who are expected to churn

Once a candidate is hired and trained, he becomes an important resource of the organization, and churning becomes a major concern. Even with no big data, the excellent manager may well spot churn. Coming up late for work and a superior and newly edited Linkedin summary are good to understand that employee is planning to churn. In recent times HR managers can depend on the AI system fairly than any traditional methods that managers used during own judgment.

HR Software for large enterprises

Human Resource software is now implemented widely across the organizations and comes with user-friendly tools that manage almost all the human resource management need.

An organization of every size struggles with employee's challenges like rising leadership candidates, enhancing employee engagement, and easing the process of performance management. Although HR best practice and technology is rapidly developing to deal with these demands, large organizations go on to face a diverse set of challenges than their small business.

The major concern that large companies are facing is an on-premise legacy solution in need of improvement. Such out-of-date systems produce many interior issues like data silos, incompetent process, slow interface, low implementation rate, and integration concerns with the new solution. By implementing an advanced talent management solution that supports mobile, remote, and global workforce can solve such problems.

Workday

Workday is trendy cloud software that is selected by numerous clienteles due to its user-friendly interface and integral functionality. It provides a variety of operational processes and comes with an established reputation for quick executions. It is chosen by large enterprises that need to include the HR practice in their organizational operations.

SAP SuccessFactors

SAP SuccessFactors is additional cloud software that adds to SAP’s skill of offering Human resource software for many years. It has a broad customer base which enables them to tackle all the challenges related to HR tasks that organizations face. SuccessFactors is well-built in offering analytics solutions and enhanced Big Data solution that delivers organization intelligence on a larger level.

Oracle HCM Cloud Solutions

Oracle built on its extensive knowledge in the ERP systems creates an advanced cloud HRMS solution. Large organizations are typically spread globally. Oracle HCM solution can deliver its service with global HRMS functionality. It comes with embedded social tools into HR functions like talent management, succession management, and recruitment & on-boarding.

Dayforce HCM

Dayforce HCM provides a broad range of functionalities in all sectors of HR along with document management. If the organization has a large number of employees like contractors or temporary employees, then Dayforce HCM is worth considering. It provides dedicated functionalities in this region like day rate expenses and complicated calculations for working hours or days.

Recent Developments

In May 2020, Toronto based Ceridian acquired Singapore based Excelity Global Solutions, a human capital management service provider.

In February 2019, Ultimate Software, which creates cloud-based human resources management software was acquired by Hellman & Friedman Capital Partners for $11 Bn.

In December 2019, Stone Point Capital acquired a majority stake in PrismHR.