Imagine your organization is a start-up, or it has a minimal amount of employees. It will be unnecessary for your company to recruit an HR. At the same time, you will need to manage payroll, attendance, or KPI evaluation. What should you do? Well, you can choose HRIS.
A study in 2021 shows that 98% of organizations prefer HRIS. Another survey of 2022 shows that 13.9% of Asian HR analyst uses HR software to analyze their data.
Almost everyone has an overall idea about what is a manual HR process. But to some of us, the HR software or the HRIS system is still in the dark. So let’s get to know about HR software in Bangladesh.
What is HR Software
Technological advancement is taking over the world day by day. It is spreading in all sectors, including business and business development. Human Resources is also converting to HR software to cope with the moving technology.
It is a dedicated software that can do all sorts of HR activities. With HR software, the organization can easily perform recruiting, payroll, attendance, etc. The employee database can also be maintained effectively and efficiently with the help of HRIS.
It can help the organization to execute effective recruitment. The compensation distribution can be easy, and employee satisfaction will increase. And a lot of things can be easily achieved through HRIS.
It is an automated process to regulate some of the major HR functions.
Now let’s look at some differences between the traditional HR system and the HR software.
Difference between manual HR system & HR software
From the given analysis, we can differentiate between the manual HR system and HR software.
Manual HR System
The Manual HR System is more costly as it may require multiple employees.
1 HR software can do numerous tasks for several employees.
HR functions are vast. Managing them can be a real challenge for people. As a result, management can be difficult work.
HRIS takes a lot of HR functions to itself. So the organization’s HR can easily manage the tasks of Motivating, training, etc.
The traditional HR system requires more employees.
HRIS requires fewer employees.
Humans are more likely to make mistakes. As the traditional HR System is operated by people. It is more prone to mistakes.
HR softwares are programmed to be accurate result with given data.
The Manual HR system has more running costs for the organization. As a result, it slows the organization’s growth.
The HRIS has less running cost, so the company has rapid growth.
These differences can be noticed worldwide. And rapidly spreading into the industries in Bangladesh.
Some Statistics regarding HRIS
Now we know what HR software is. But let’s look at some of the studies for HR software. These are the study by HR analysts and professors.
Here are some statistics about HR Software.
- Organizations spend around 16 weeks to pick the right HR software. It is a crucial factor for the organization, so they spend a lot of time making the right decision.
- 73% of companies in the US use HR software.
- The average budget for HR or Payroll software is $8.75.
- The third most common reason for supporting growth was because of the HR Software. Almost 20% of the organization has made this a primary goal.
Converting from manual HR system to HR Software in Bangladesh
Bangladesh is getting digitalized. Every sector in Bangladesh is now shifting towards technology. Business growth is not behind as well. All sorts of business activities are now transforming to a digital platform or finding a new way to cope with technology.
Human Resources are slowly shifting towards technology as well. So here are some of the reasons to introduce HR software in Bangladesh –
Be More Cost Efficient
One of the main goals of any business is cost efficiency. Implementing HRIS in your business makes it a lot more cost-efficient. Your business may require fewer employees for the payroll, leave and attendance count, and performance evaluation functions. Thus it eliminates the costs of your business. So using HR software will help your business to reduce costs.
Helps In Planning
The less workload management has, the more the team can focus on the various aspect of the business. The HR payroll software takes the load of the HRs in general. As a result, they are able to focus on other things to help the management in decision-making. HRIS helps ease the workload on individuals, resulting in more time for planning business growth and many things.
HR or Payroll software is programmed to be accurate every time. They are an automated system with no mistakes. The HRIS can perform most of the HR activity with perfection. Software is very unlikely to make mistakes. On the other hand, humans are unpredictable and prone to making mistakes more often. The use of Payroll or HRIS eliminates this risk.
Improved Payroll System
The manual payroll may take time sometimes. The Payroll software is not that time-consuming. In the payroll system, the organization sets the time, and all the compensation of the organization’s employees automatically gets transferred.
Easy Attendance and Leave management
With the HR software, your business will not be doing manual attendance and leave count. The attendance count, the leave counts, and the shift raster management can be done easily with HRIS.
Which HR Software should your business pick
You need to choose the HR software that provides different features at a competitive price.
Some features of HR software-
- It has a Cloud-based attendance and leave management system.
- It has salary payment, salary statement, and bonus payment.
- Tax calculator, tax factor control, etc.
- Roaster-based Shift management.
- Employee tracking and monitoring.
- It has higher security
- You get moil notifications
- Clean UI
- Innovative dashboard
- Comparative low pricing
One of the most used HRIS in Bangladesh is PiHR. So your business can pick this Payroll Software easily. It is the best payroll software in Bangladesh at an affordable price.
Who doesn’t want to grow their business? Well, we all want our business to grow efficiently and effectively. For organizational growth, it is important to be cost-effective, efficient, and productive. Industries in Bangladesh are trying to achieve all these as well.
Implementing HRIS in Human Resources helps in achieving rapid business growth. Most organizations in all industries in Bangladesh are now considering payroll software. Nowadays, Payroll software is preferred over traditional HR. Not only worldwide but also in Bangladesh, HRIS is preferred.
Everyone wants to have the best option available to them. So your organization will be with the best option available.
Contact us to get the best option.