How Can Businesses Benefit from HRX?
Business is referred to as an organisation or enterprise engaged in commercial, industrial or professional activities. They range in scale and scope from sole proprietorships to large, international corporations.
Even if the business has less than 100 employees, handling them manually can be difficult. Human resource needs to remember each of them, their designation, status of employment in the company and their salary – which is not inclusive of overtime or allowances yet.
Why Can’t My Business Stay Manual?
There’s nothing wrong with doing things manually for your business, especially if you’re just starting out your business. However, as your business grows, you need to start considering several factors.
Manual processing takes time and is inefficient in the long term. You may lose important documents, misplaced employee information and late payroll cycle. Late payments can be penalised under Section 19 of Employment Act 1955 which mandates employers to pay employees’ salary within seven days after the last day of salary payment period.
The last thing you want your business to get is penalised by the Labour Office and in turn, giving a bad reputation to yourself.
There are two choices for you to avoid violating any Employment Act: by employing more human resource executives, or using a tool like HRX by IFCA.
What is HRX?
HRX is a human resource management system (HRMS) capable of automating your human resource processes efficiently. Developed by IFCA, the system is meant to assist human resource managers to simplify their processes and allows greater control for their HR needs.
With a mobile application, employees can submit their leave and claim requests, view their personal information, payslips and attendances on their smartphones. Managers then can approve their requests, monitor their attendances and access real time insights for better decision making.
Why Do I Need HRX?
It’s understandable for businesses to not consider the HRMS system as soon as they start up. However, we still recommend you to take up HRX for several reasons:
1. Efficiency
Mundane tasks such as attendance tracking and payroll can be automated with HRMS software. This frees up time for human resources to focus on more pressing matters of the company. Once everything is set, you do not need to worry about missing attendances or late payroll cycles to your employees.
2. Scalability
HRX can grow along with businesses. As your business expands, your human resource needs also increase. Providers can tailor your system based on your needs or the number of employees in your business. This way, you can stay with one provider, like IFCA, on the long term.
3. Cost Saving
HRX providers offer packages or subscription-based software that can be tailored personally to a business. You can reach out to them, inform them what you need in the system and they will provide a breakdown along with the pricing. With a carefully tailored product, you can save tremendously by only getting what you need.
4. Compliance & Risk Mitigation
Complying to the labour laws can be difficult if you continue doing manual work for a long term. HRMS software can help keep your business comply with the statutory requirements and automate payrolls, reducing the risks of non-compliance.
5. Improved Decision Making
Real-time insights allow managers to review employees’ attendances and performances to assist in decision making. The data that are logged into the system can be viewed by human resources and managers to ensure that their employees’ evaluation is accurate.
Businesses can greatly benefit from having HRMS software. The system can grow along with your business, reducing the hassle to find a different provider in the future. HRX by IFCA software not only can help in human resource processes, but also helps your business grow and stay ahead in the industry with better decision-making.
