5 Tips for Choosing an HRMS Product that's Right for Your Business
Find out how to select the right HRMS product for your business needs, with these five expert tips!
When it comes to managing the most important assets in your business—your people, nothing compares to the convenience of a Human Resource Management System (HRMS). From recruitment and onboarding to compensation and training, the right HRMS can provide a central location where all employee and vendor data is stored and carefully monitored. A good HRMS enables the organization to see at a glance how well personnel are being managed, with metrics to evaluate the return on investment.
There are many choices in the HRMS market due to increased innovation and competition in this space. Each HRMS has its own unique set of features and benefits that can enhance a human capital strategy. Yet, it’s these same choices that can overwhelm an HR practitioner who’s searching for the best HRMS for specific business needs.
Read on to learn 5 expert tips for choosing an HRMS product that’s right for your business.
- Streamlined HRMS Selection Processes – Human Resource professionals thrive on efficiency, so when it comes to choosing the right HRMS product, having access to a streamlined selection process and administrative functions is key. Look for a Software as a Service (SaaS) model that allows you to customize the way the HRMS product functions, the organization of menus, and how information can be accessed.
- HRMS Integration Capability – Over the years, your business has probably used a variety of software to handle multiple HR tasks. While an HRMS product many be able to replace many of these outdated systems, it should also be able to quickly integrate with them to make downtime less of an issue.
- Regular Updates and Enhancements – As you know, HR laws change continually. That’s why it’s critical to choose an HRMS product that includes regular compliance updates and enhancements to make it better for everyday use. A product in the cloud may also provide added features, such as portability and remote accessibility.
- Ongoing Software Support and Security – When evaluating a potential HRMS product for your business, you will want to also note how responsive and knowledgeable the software support team is for your industry. Find out what security features are present to protect valuable employee and vendor data.
- Stakeholder Engagement - Most importantly, when selecting the right HRMS product, you will need corporate buy-in from your stakeholders. This includes all the executive team and your employees who will be utilizing certain key features of the HRMS such as self-managed benefits and HR reporting. Go with an HRMS provider who has data to back up the return on investment, and has a training program in place.