The Benefits of a good HR System
by Startacus Admin
These days most businesses rely heavily on software. Even small firms use it, very little is done on paper.
Companies realise that investing in good systems brings many benefits. However, despite this there is only a finite pool of money available, which means that firms save money where they can. Inevitably, some departments are left behind. They do not get their software updated on a regular basis and less is invested in training.
One of the departments that is frequently neglected in this way is the Human Resources (HR) team. It is appreciated that HR is an essential department, but because they are not in the frontline so to speak of the business, the needs of this area of the business tend to take a back seat.
Thousands of firms out there are running outdated HR systems without realising the potential damage it is doing to their business. There are many benefits to bringing your HR systems up to date. Below are the main benefits:
Time saving
One of the biggest issues with running outmoded HR systems is the time that is wasted. It is not uncommon for firms to be running multiple systems. For example, one for payroll and one to keep track of training and yet another that deals with sickness and maternity leave.
Often this wastes a lot of time. Usually at the very least, it means entering the same data several times into multiple databases.
Not only is this a waste of valuable time and resources it opens up the possibility for more errors to be made. The more times data has to be entered the more likely, it is that a keying error will be made.
Ensures nothing is missed
A streamlined system reduces the chances that important information about and employee will be missed or lost. This is very important especially because the contents of HR files contain information that could potentially be needed in the case of an employee tribunal or a health and safety investigations.
Easily accessible data
Maintaining employee data in a good database also ensures all of the information the management team needs to improve the business is close at hand and easy to access. It is much easier to manage a person if you have hard proof of say the fact they are always sick on either a Friday or Monday. Access to data and good reports to interpret that data helps firms to make informed decisions.
Mitigates risk
Good HR systems help firms to mitigate risks. For example keeping good records of the fact that people have undergone the necessary health and safety training keeps everyone safe. It also helps to ensure that nobody works in the business that is not properly trained, which ensures the firm conforms to the necessary regulations. This protects the firm from the risk of fines and prosecutions.
If you have not reviewed your human resources systems for a while and checked that they are still fit for purpose perhaps now is the time to do so.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
The lowdown on Bidnamic, the startup that's combining advance machine learning with human expertise to help retailers to maximise revenue and profitability from Google Shopping.
Innovative Czech fintech startup 4Trans raises investment to expand first of its type AI driven factoring services across Europe.
Ethical Equity and Streets Consulting join forces to deliver Founder Workshop to help close the inequality gap in startup to scaleup funding.
Fancy being featured in this year’s SmallBiz100, which showcases the best of Britain’s vibrant small business community? There's just a couple of days left to do just that!
Screenloop secures major investment to support further development of its AI-driven recruitment platform that helps companies build the best teams and removes unconscious bias.
New research from School of Marketing reveals the impact that Covid-19 has had on key business sectors in the UK.
The lowdown on AllotMe and its garden-sharing marketplace that pairs people offering up garden space with people seeking garden space to grow their own.
Amazon Joins Forces with Celebrity Entrepreneurs to Host Interactive Livestream to Help Young, Budding Business Owners Grow Their Businesses.
.png)
Ethical Artisan Café Chain, Canteen Collective crowdfunding to support further growth and explore sustainable event catering and B2B solutions.
.jpg)
Want to revamp or improve your business? Here are some tips on how helping your staff to improve their knowledge and skills can be one of the best ways to do just that.
Published on: 14th October 2015
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- How the pandemic affected each industry 27th Jun 2022 New research from School of Marketing reveals the impact that Covid-19 has had on key business sectors in the UK.
- The Finalists of DBACE 2022 are revealed 21st Jun 2022 The lowdown on the innovative young visionaries that are in the running for this year's Deutsche Bank Awards for Creative Entrepreneurs.
- OKAPI: Orbits raises €5.5m for Breakthrough Space Traffic Management Software 13th Jun 2022 Innovative German SaaS startup OKAPI:Orbits secures investment to support its mission of securing efficient and safe operations in space.
- Kita, the world's first carbon insurer, raises £350k in pre-seed round 9th Jun 2022 Innovative startup, Kita secures investment to support build and launch of its essential carbon insurance products.
