Human Resource Transformation
With the advent of the digital age, using digitalisation in corporate operations is more crucial than ever. Human resource transformation is one such vertical that must be prioritised. Not just for development and smooth operation but also for appealing to millennials, the latest workforce fueling the growth narrative of multinational corporations worldwide. While paperless offices are increasingly becoming the standard, it is also critical to create and modernise HR processes to adopt well-tailored millennial-friendly policies.
Many HR professionals are interested in HR digital transformation. And for a good reason: digital technology has the capacity and power to change HR as we know it altogether. But, while talking about digital HR transformation is one thing, doing it is quite another!
Here are three critical aspects that can assist you in acing the Human Resource Management game:
- Talent acquisition is a catch-all phrase for anything from pre-recruiting through hiring to onboarding. Talent acquisition strategies are built using HCM in such a way that applicants are treated as consumers.
- Talent management encompasses everything done to effectively manage workers, from payroll and fundamental HR procedures to conducting performance evaluations, offering feedback, and allocating assignments.
- Talent development techniques include mentoring, coaching, training, and elevating workers to help them perform at their best.
Some of the things that a Human Resource Transformation may help with include:
- Source, track, and recruit the top people using strong sourcing channels, easy resume extraction tools, automated processes and analytics
- HR management that is simple and effective across Onboarding, Attendance Tracking, Leave Tracking, Time Tracking and Shift Scheduling.
- Change the way you do performance reviews, and reviews shouldn't be a once-yearly event; Let workers assess their peers and be reviewed by them throughout the year.
- Whatever your business, you need highly trained personnel to stay on top. This entails establishing a learning culture that responds to diverse learning styles.
- Imagine a case management system that juggles all your employee's inquiries helps you filter and categorise questions, track their status, and react swiftly. And build an Employee Wiki.
- Whether issuing offer letters, contracts, or changing company rules, there's never been a better way to store and distribute all your HR papers.
- Knowledge and learning management software lets you collect and retain your team's information, design training programmes, and assess the success of your training.
Human Resource Transformation enables companies to standardize and automate recruitment from Onboarding to Human Resource Management to Development and Retire. With LotusBudh HR Transformation, you can offer great digital HR experiences to your workers while managing the entire employee life cycle on a single integrated platform. From establishing excellent teams to empowering them and keeping them engaged, we've got it covered.
Features to expect post-implementation of technology
- Talent Tracking System
- Streamline your recruiting pipeline, deliver a fantastic candidate experience and hire the most pleasing people. Candidate Sourcing, Resume Parsing, Applicant Tracking System, Onboarding and Offer Letter Management (with E-sign)
- Give your recruiters the most significant resources and crystal clear information about applicants. We will implement a system to help you locate the ideal match for your position across numerous candidate platforms.
- Attract prospects' attention and offer them the experience they desire by developing a stunning career site.
- Initiate offer letters straight from your system and have them signed and kept digitally in your HR docs to access at any time.
- The new recruit site makes it easy for them to fill documentation, including employment offer agreements, tax forms, business regulations, and the like.
- Talent Management System
- Every employee has distinct abilities. Nurture that talent and propel people towards your organisation's goals with the proper set of tools. You can manage and keep your outstanding staff while developing moderate performers for future success.
- Key Result Areas (KRAs) let you layout duties for each job position and connect them with individual and larger company objectives. Tag and highlight skillsets for every job and offer employees how they need to develop those abilities. With the skill set matrix, you can select the appropriate resource for a project without the laborious search.
- Automate and justify your assessment cycles using self-appraisal techniques and multi-rater reviews. We will define a unique procedure that suits your organisation's way of handling appraisals.
- The nine-box model assesses the potential and performance of an employee, letting you analyse performance and prepare for succession or training requirements.
- Automate payroll computation, adapt to various wage structures and steer clear of regulatory fines. We will assist create a self-service site for workers to access their data allowing transparency and decreased dependence.
- Talent Development
- Centralise your expertise and provide structure to your training material. Build specific areas for users, arrange the material into guides, and generate knowledge-building articles beneath them.
- Test your employee's abilities and knowledge. Check their comprehension of your training by adding quizzes and tasks to your courses.
- Offer high quality, relevant, and up-to-date training material to offer engaging learning experiences to your learners. Create and manage organised and interactive material with ease to keep your learners engaged and help them achieve their learning objectives.
- Get valuable information about your learners' experience and engagement to enhance your staff training programme. Analytics offers you a complete view of the effect your courses have so you can modify them appropriately.
Customer Success Metrics that would keep you on track
Human resource managers have a lot of data that they have to monitor and stabilize. It may be tough to keep on top of everything with their preview encompassing personnel data, performance and legal problems, and leadership development. These HR Metrics and KPIs offer you essential insight into your data and assist to guarantee that no one is left in the dark.
- Recruiter to Open Requisitions Ratio
- Open Job Requisitions
- Job Offer Acceptance Rate
- Cost per Hire
- Attrition Rate
- Ethnic Diversity Ratio
- Gender Ratio
- Span of Control
- Headcount
- Applications Received per Vacancy
- Signing Bonus Expense
- Employee Turnover
- Hiring vs Attrition
- Weekly Monthly Quarterly and Yearly Time Logs
- Growth Rates
- Attendance Percentage
- Competence by Skills
- Performance by Department
- Goals by Department
- Course Enrolments
- Trainings by Department
