Using technology to ease compliance strain is a welcome shift for HR personnel. Although regulations are continuously changing and compliance tasks are frequently time-consuming and tiresome, compliance is one extremely vital HR job. Software is another tool managers can use to monitor goals, feedback, and performance reviews over time.
Fremont, CA: Every industry's departments are affected by ongoing technological advancements, and human resources is no exception. There are plenty of chances for HR teams to incorporate solutions that make life easier because the market for HR software is predicted to reach over $10 billion this year.
Although regulations are continuously changing and compliance tasks are frequently time-consuming and tiresome, compliance is one extremely vital HR job. The use of technology to ease the strain of compliance is a welcome shift for HR personnel.
See the five instances of HR technology application in the compliance arena below.
1. Maintain accurate overtime and PTO records
Monitoring PTO and overtime is essential for ensuring that workers receive correct compensation. For both companies and employees, HR technology enhances tracking overtime and PTO. HR team members might use the software to measure, report, and forecast overtime costs. This enables them to track outcomes by department, management, or location. The same functionality enables HR professionals to quickly and accurately develop headcount analysis reports that support business decisions.
2. Streamline Pay Transparency
The next area where HR software shines is pay transparency. HR workers can use tech tools to evaluate real-time data to ensure fair practices. The comparison of pay across different attributes (such as department, job title, and location), the planning and implementation of pay raises and bonuses, and the resolution of ambiguous job descriptions are examples of more specific use cases.
3. Recruiting optimization
The arduous process of recruiting can be greatly streamlined using HR technology. From the compliance perspective, HR technology can guarantee that HR teams and recruiters always abide by national, state, and local rules. Using technology is a wonderful approach to staying current because the specifics of this kind of law are continuously changing.
4. Assisting Remote Employee Managers
While many employees welcome the chance to work remotely, managers could find supporting, supervising, and thriving in such a setting harder.
Managers can be notified via HR software of timecard/overage red flags for early identification. Software is another tool managers can use to monitor goals, feedback, and performance reviews over time. Additionally, if policies are amended, users can receive reminders on their mobile devices.
5. Simplify Open Enrollment And Employee Benefits
In addition to the aforementioned advantages, tech solutions assist with open enrollment and lessen the administrative burden of benefits for HR professionals and employees. Employee benefits can be managed by HR professionals online through a platform that interacts with payroll, time, and the IRS.
