The Benefits of Effective Human Capital Management

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Human capital management, also known as human resource management, will always be an intrinsic part of each and every company. It is the core that ensures both the top management and the workers co-exist in an office environment that results in everybody's success.

For the most part, they handle the most complicated processes in a company as they serve as a go-between among the upper management and the workforce. These processes involve workforce organization, orientation, training and development, compensation, employee benefits, workforce financial planning, recruitment, promotion and labor relations but none of these matters if you do not know how to maximize the potential of your workforce effectively.

The two focus areas that a startup company should prioritize are recruitment and training and development. These two areas, if done according to ones company goals, will severely decrease the expenses and will generate faster returns on investment.

The role of a recruiter's job is to identify potential applicants that meet desired qualifications and to ensure that the hiring process is done in accordance with the company vision and mission. There is no better way to attain this but through employee assessments. The importance of employee assessments and evaluations play a vital role in the success of a company before and after recruitment.

For one, it is used to identify if the person applying for a specific position is qualified to fulfill his or her job responsibilities. It will also identify organic attributes before hiring such as being trainable, a good leader or a team worker and the possible longevity an employee might serve the company. It is always a good idea to know if the person you will be spending money on is worth your expense. Is the person going to be an added value to my company?


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Tips For Evaluating HR Software Programs

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If you are purchasing your first employee information system or upgrading to a new one, how do you compare HR software programs?

There are a wide variety of applications available. Those that are geared toward large businesses with thousands of employees focus on a different set of requirements than those for small businesses. On the other hand, the most basic niche software packages don't necessarily have what you need to effectively manage your workforce. You need to find a happy medium that addresses all your strategic and administrative HR needs. Here are some tips to help you do just that.

Identify Your Core Needs

For small business employers, a human resource database for storing basic employee information is the foundation of a good software system. Most applications will have the same traditional fields (identifying information, emergency contact, hire date, wage rate history, etc). However, you should look for HR software programs that permit you to define your own fields as well. Otherwise, you will find yourself using a separate system for documenting additional information. Core HR management should also include benefit eligibility tracking, performance review documentation, and employee leave management.

Only Pay for What You Need

In the HR software industry, applications are available in a single package or as elements you can add as you need them. A good rule to follow is spending your money on a product that will make your life easier right now. If you will use 75-80% of the features in a bundled HR software program, it is usually worthwhile to pay for a package deal.


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Even Small Businesses Need HR Software

If you have employees, you need an efficient way to manage their personnel information. HR software is a great way to keep all those details together in one place. Buying software of any kind can seem like an overwhelming task and an expensive endeavor, especially for small businesses who wonder if they really need to come up with a formal process for this aspect of their organization. But, implementing this type of program doesn't have to be that difficult or costly. The first thing to do is determine exactly what you will need in order to manage human resources information.

Some of the things that you will need when it comes to an HR software program include the ability to:

•     Maintain salary wage rate history and employee benefit data
•     Write performance reviews
•     Remember due dates for tasks, such as performance reviews, anniversaries, and training expirations
•     Contain a library of scanned documents, such as resumes, employment applications, etc.
•     Report info for both individuals and groups of people
•     Track days off, such as vacation and sick time
•     Maintain discipline and safety records

Not only will a program make your job easier by streamlining processes, you will also spend less time finding answers to questions, such as how many vacation days does an employee have left to use this year, or what has their attendance record been like.

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Need Of Human Resource Management System Software

Human resource department of any organization is the heart of that organization. Human resource management system software is basically application software that is programmed to allow the employers to efficiently handle their employees for perfect allocation. This software has the database that saves the important details of employees including their salary, number of hours worked, their personal details etc.

One of the most effective ways to improve the workforce productivity is through superior resource management. In order to manage the entire business of an organization, effective planning is necessary. HR management plan helps in doing the same. An individual looking after this post should solely have the entire knowledge about the company, its turnover, the number of employees working in each department, requirements of clients etc.

In a big organization, it is really difficult to manually keep the entire analysis of exact demand and supply of human resources for future requirements. This can happen due to lack of visibility of workstations caused by complicated organizational structures and matrix management. HR management becomes more difficult if the organization operates from multiple sites. Here comes the immense need of specific software that will keep the record of personnel efficiently.

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HR Software - How to Improve Efficiency in Your Human Resources Department

Although human resources departments are vital to the successful running of any company, the complexity of HR management is responsible for the fact that the whole process is a very labour intensive and expensive one. It takes a lot of employees and employee hours to run and maintain an efficient employee management system.

There is the management of absences and holidays, rewards and benefits, expenses and of course the exceptionally complex and time consuming payroll management to name just a few of the processes that need to be handled by the HR office. It is an unfortunate fact that when dealing with complex processes like these, mistakes are almost inevitable and can also be expensive and even more time consuming to locate and remedy, usually any errors that creep in do affect a member of staff adversely so the whole human resource processes are often seen as a burden.

There is a corporate saying that goes something like, there are no problems, only opportunities, and human resources is not exempt to this point of view.

Most businesses start their journey with HR and payroll being done manually, either by the business owner or someone with an administrative function within the company which is not ideal or the best use of peoples time and skills. As the organisation grows then often someone is employed to manage the HR functions and payroll management until the company gets to the position outlined earlier where the whole process becomes over expensive and inefficient.

This is when they start to look for opportunities to improve things and usually they see HR software as the way to move forward. Human resources management software comes in all shapes and sizes with small single function applications suitable for all but the smallest business up to and including full Enterprise Resource Planning (ERP) tools designed for enterprise level businesses with possibly thousands of employees.


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Expert Insight: India's Software Companies Need a New Model

Over the last few years, software as a service has disrupted the traditional enterprise software industry for most business applications, including accounting, collaboration, customer relationship management, enterprise resource planning, invoicing, human resource management, content management and service desk management.

For those who are unfamiliar with the term, software as a service is a delivery model in which software is provided as a service to users without requiring them to install or maintain it. The software and its associated data are centrally hosted (usually in the cloud) and users typically access the application via a standard web browser.

Even if you're unfamiliar with this model, you'll be interested in the revenues. According to a Gartner Group estimate, global sales in 2010 reached $9 Billion (up 15.7% from 2009), and are projected to increase to $10.7 billion in 2011. Gartner also estimates that these software applications, which accounted for a little more than 10% of the total enterprise software market last year, will represent at least 16% of worldwide software sales by 2014.

There are many successful examples of large companies that provide this service – Salesforce, Google (Google Apps) and Savvis. There is only one large Indian company on this list: Zoho, which offers a suite of business, productivity and collaboration applications.

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HRiQ Human Capital and Talent Management System Video

HRiQ Human Capital Management Solution gives you and your Organisation the tools & services needed to automate transactional processes that will enhance productivity, provide timely and critical information for key decision making, thus effectively managing your Human Capital. The solution delivers the necessary framework to enable your Managers, HR Professionals, Executives and Employees to optimize and enhance the talent within your organisation.

Learn more about the HRIQ Human Capital Management Solution

Multinational people managers

The human resources department is not usually thought of as the go-to place for building an international career. However, it could become so.
Take Dutch national Rob Luijten, executive vice-president, human resources, at Tate & Lyle, a London-based global food producer. “For me personally,” he says, “what matters is not where a business is based, but whether HR is a really important part of its strategic agenda.”

In the mid-noughties Mr Luijten ran the Asia-Pacific HR team of GE Plastics, from Shanghai. As to where he might be found in years to come, he says, the field is wide open – although he admits to a “soft spot” for Asia.


HR careers that play out on several continents may not be the norm, but they are becoming increasingly common. A decade ago, western corporations saw their Asian and Latin American operations as low-cost production bases and sent out expatriates to oversee them.


Now many of those companies are leading the charge to invent products and services for emerging-market consumers, which puts their ability to attract and nurture local talent under the spotlight. “Today there is more encouragement for local as well as global innovation,” says Michael Dickmann, professor of international human resource management at Cranfield School of Management.


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The Facts About Human Resource Management System

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For people interested in the field of human resources, you should know that a Human Resource Management System (HRMS) is an Enterprise Resource Planning (ERP) software program that specializes in dealing with staff problems. These systems are often intertwined with other commercial programs such as finance.

Throughout the years administering an companies human resources has become increasingly complicated since this important practical organization must needs to follow personnel data including education, job history, skills, and individual details. For years it has been virtually unattainable for moderate and big groups to administer the plethora of human resources information properly and efficiently without the aid of computers. In the past Human Resource Management System (HRMS) operated on large, enclosed mainframe computers though today most of those systems have become accessible on microcomputers. Let's look at some of the standard parts.

The Payroll module gathers knowledge on employees' time worked and absences. Subject on its sophistication this module enumerates taxes as well as auxiliary deductions and creates a array of worker paychecks, government checks, and multiple reports. It must connect to the letter, federal, state, and internal tax rules, and a array of other technical documents with union as well as non-union contracts.

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Analysis: HR software firms log gains in shifting job scene

(Reuters) - The U.S. job market may be going through choppy times, but it has been a heady ride for companies that make software to help corporations hire, train and retain employees.

Companies such as SuccessFactors Inc (SFSF.N), Taleo Corp (TLEO.O), Kenexa Corp (KNXA.O) and Cornerstone OnDemand Inc (CSOD.O) are all set to gain in a market currently worth about $3 billion.

Independent market research firm Bersin & Associates expects this market to grow by 12-15 percent, or even more, this year.

Shares of some of these companies have powered up through the downturn, with SuccessFactors growing more than two-fold in the last three years. The broader Nasdaq Composite Index .IXIC rose roughly 20 percent in the same period.

Job volatility -- rather than actual job numbers -- is the primary driver of business for these software makers.

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HRiQ - Human Capital Management Solution

The people in Your Organisation are your most important assets and they make the difference.

Competition in the market place demands that businesses pay more attention to managing it's Human Capital and effectively deliver on the company's objectives to grow.

HRiQ Human Capital Management Solution gives you and your Organisation the tools & services needed to automate transactional processes that will enhance productivity, provide timely and critical information for key decision making, thus effectively managing your Human Capital. The solution delivers the necessary framework to enable your Managers, HR Professionals, Executives and Employees to optimize and enhance the talent within your organisation.

    HRiQ Core - Increase operational efficiency while reducing costs through automation of transactional processes - maintaining a single version of the truth compliant with local requirements.

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Human Resource Management System Software

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To be an outstanding recruiter, you require innovative online recruitment software. It follows finest-practice recruitment standards. The Recruitment software gets rid of needless administrative works and computerizes as much of the recruitment procedure as probable. It also provides you the tools for efficient candidate administration and finest-practice client association management.

It is an extremely sophisticated and spontaneous human resource management system intended specially for recruiters. It as well offers inventive candidate management tools and effective communication tools to aid you to construct and cultivate your dealings with candidates and clients. It will assist you to be a more successful recruiter:

•     It decreases your operational restricted access and minimize your organization costs.
•     It optimizes your enrollment task by directing your recruiters towards finest-practice.
•     It progresses your business presentation by revenue-generating support management

Solution Cv software provides a consistent, spontaneous platform appropriate for contract, permanent and temporary recruitment organizations. It also unites functionality and innovation at a lesser cost as compared to manual recruitment solutions.

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Tips for Choosing Human Resource Management Software

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Running a company with a lot of employees can be taxing, especially for the human resources department. To alleviate the strain, human resource management software is essential. Company personnel can be considered as a company's unsung heroes. Aside from the fact that their work is tedious and involves a lot of detail, they also work from the background, performing processes that nobody else in the company knows or understands.

Human resource management becomes even more challenging if the company operates from multiple sites. The obvious solution to the need of managing personnel when you have multiple workplaces is to set up a personnel management team in each site. Unfortunately, while this can be efficient in terms of the day-to-day operations, this setup can be potentially disastrous when it comes to keeping records.

To keep personnel management efficient, many forward-looking companies invest in  human resource management software. Those that operate in multiple sites find Internet-based software very helpful. These types of software enable different management teams in multiple locations to access the software at the same time.

If you feel that your company needs to invest in one, here are some tips to help you make the right decision:

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Good employers to be rewarded

Organisations with good human resource management system and practices geared towards recruiting, managing, developing and retaining talent are to be recognised in the 2011 Employer of the Year awards.

Speaking at the launch of the Employer of the Year survey, the chairman Federation of Uganda Employers, Mr Martin Kasekende said proper management of talent boosts business competitiveness and increases productivity.
“Exceptional business performance is driven by superior talent. You can’t be competitive if you can’t attract the right talent,” Mr Kasekende said in Kampala yesterday.

The theme of the 2011 survey Talent Management to Maximise Productivity is informed by the 2009 survey findings which revealed that most organisations were poor at talent management.

Human resource management involves recruiting the best talent, training them, designing job roles and structures and developing compensation packages.

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What is A Perfect Solution for Human Resource Management?

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A Perfect Solution for Human Resource Management

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Human Resource Management simply means managing a company's most valuable assets - its people in an effective manner so as to collectively contribute to the overall growth and development of a business while achieving the objectives of the organization.
In other words, it would mean employing people, identifying and developing their inert talents and motivating them through various compensations making room for personal and professional growth of the employee and also the organization. Human Resource Management therefore has a pivotal role to play in any company's progress.

Human Resource Management would require ensuring the right compensation to employees in order to prevent them from constantly switching jobs, encouraging equal employment opportunities at workplaces, managing performance through polls and surveys, managing the talents of the employees and allowing for a continuous development in career through constant recognition.

Simple, though it may sound, it involves a lot of effort to ensure constant growth of the company by keeping the employees happy. Human Resource Management can therefore be described as a company's unsung hero.

It is necessary for consulting services to keep their primary focus on human resource consulting and training and also perform coaching and mentoring programs as well to make way for employee development and training.

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