Here’s one task every business should consider. Ask your HR team to answer what’s the single most important process you want to automate? Chances are, compliance is high up in the order. And that’s not very hard to predict. After all, compliance is not only complex but an ever changing process that keeps everyone on their toes. Further, if you have an international presence, it just adds to the complexity. Here are four reasons why to consider installing a Human Resources software for your business.
Compliance with International Data Privacy Laws
It’s a fact: everyone is going digital. Data privacy and security have become critical to running a successful business in modern times. Governments across the world are implementing new laws to overcome any gaps. For example, take the EU’s new data privacy legislation the General Data Protection Regulation (GDPR), coming into effect May 2018. The new law will lay down strict privacy rules for international companies and violators will be hit with huge penalties. In turn, it is critical for those with operations in the EU to evaluate their own data privacy policies. GDPR will have broader implications for HR departments, especially in storing and organizing employees’ data. The fallout of not being compliant could be massive. Thus, installing an automated HR software to manage these ever-changing laws is not only smart, but also the logical way to go.
Recruiting, Onboarding and Global Mobility
HR teams juggle recruiting, onboarding and moving employees around. Further, global companies engage with foreign jurisdictions in managing their employees worldwide. And with new regulations every day, HR teams cannot follow a single process to stay compliant. Enter a global HR software like Mihi. With this global software, Mihi not only addresses the harder aspects of compliance but also helps prevent disastrous situations.
Time and Attendance
Global companies deal with a varied set of issues, and that too in different time zones. For instance, HR teams need to track the time and attendance of each and every employee, regardless of where they are. On the surface, this appears easy yet for companies with employees in different jurisdictions, this quickly gets confusing. HR teams spend a significant amount of time ensuring every employee follows their local laws. With a global HR software, these teams have the ability to set up varied rules according to location. Not only do companies ensure compliance, they gain transparency.
Employee Benefits Administrations
Administering employee benefits is a long process. It involves a lot of bureaucratic work and many approval processes. For instance, a typical process of selecting an insurance policy for employees involves:
- working with employees
- finding new enrollment
- giving employee updates
- checking eligibility
- selecting and managing vendors
- getting approval from employees, managers, and HR
Now, the role of an HR software becomes all the more crucial here. Thankfully, the right HR software converts this difficult process into two simple steps:
- Confirm the submission of data is consistent across the board
- Creating an online, streamlined approval process
Consequently, the right HR software reduces time to complete HR tasks and improves overall productivity.
In the end, keeping companies compliant is one of the most important HR functions. However, as global laws continues to change every day things easily get out of hand. Hence, using a software technology such as Mihi early on becomes vital.