For a company or a business in operation, one of the major areas of concern was human resource accounting but the advent of the hr software has made this rather easy and manageable. This software again comes with many different modules, each dealing with one specific aspect of a company’s human resource.
Some of the most important modules of the human resource software are:
- Database: This is a comprehensive store of all personal information pertaining to individual employees of a company and can be easily assessed round the clock from anywhere.
- Management of time versus labour: Manual inputs in this regard can be quite a cumbersome process prone to errors but enabling the employees to feed it into the software package directly makes it much easy and almost error free. Even vacation requests can be tracked and verified here.
- Payroll: The Payroll software module is by far the most important since it provides the motivation for employees to work. The ability to be sure that the salary or the incentive that they receive has been properly calculated is a big relief. In fact it also becomes easy to solve discrepancies.
- Benefits: Retirement investments, medical benefits etc., too can be handled using the same software. Thus deductions that need to be made from the salary of the employee can be automated thereby ensuring a fool-proof system in place.
- Employee interface: Personal profiles, salaries and other sensitive information can be kept a secret from all but the concerned employee by blocking access to the main database
- Recruitment: Retention and recruitment of employees can also be done using this software thus making it one of the most exhaustive software to be used in offices today.
These modules, while being interconnected, are also singular in their day to day accounts keeping. This interconnection of these modules helps when month end performance reports have to be generated and salaries, bonuses and incentives calculated.