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Setting up a reliable HR solutions system is imperative for the smooth functioning of an organization. A sound HR strategy must be flexible and should conform to the changing requirements of an organization. A well designed HR software will assist an organization in meeting and exceeding business objectives. A well designed HR system is capable of easing several tedious operation in an office environment such as:

 

  • OnTime Attendance
  • OnTime Payroll 
  • Recruitment - synonymous with "hiring" in American English – refers to the overall process of attracting, selecting and appointing suitable candidates for jobs (either permanent or temporary) within an organization. Recruitment can also refer to processes involved in choosing individuals for unpaid positions, such as voluntary roles or unpaid trainee roles. Managers, human resource generalists and recruitment specialists may be tasked with carrying out recruitment, but in some cases public-sector employment agencies, commercial recruitment agencies, or specialist search consultancies are used to undertake parts of the process. Internet-based technologies to support all aspects of recruitment have become widespread.

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  • Performance Management is a process by which managers and employees work together to plan, monitor and review an employee's work objectives and overall contribution to the organization

 

  • Analytics - is the discovery and communication of meaningful patterns in data. Especially valuable in areas rich with recorded information, analytics relies on the simultaneous application of statistics, computer programming and operations research to quantify performance. Analytics often favors data visualization to communicate insight.

    Firms may commonly apply analytics to business data, to describe, predict, and improve business performance. Specifically, areas within analytics include predictive analytics, enterprise decision management, retail analytics, store assortment and stock-keeping unit optimization, marketing optimization and marketing mix modeling, web analytics, sales force sizing and optimization, price and promotion modeling, predictive science, credit risk analysis, and fraud analytics. Since analytics can require extensive computation. Analytics is a multidimensional discipline. There is extensive use of mathematics and statistics, the use of descriptive techniques and predictive models to gain valuable knowledge from data—data analysis. The insights from data are used to recommend action or to guide decision making rooted in business context. Thus, analytics is not so much concerned with individual analyses or analysis steps, but with the entire methodology. There is a pronounced tendency to use the term analytics in business settings e.g. text analytics vs. the more generic text mining to emphasize this broader perspective. There is an increasing use of the term advanced analytics, typically used to describe the technical aspects of analytics, especially in the emerging fields such as the use of machine learning techniques like neural networks to do predictive modeling.

  • Compensation Planning - In network marketing, the details of how the commission of independent agents will be determined on their own and their downline's sales revenue. See also compensation structure. (or system or policy) is one with a defined pay scale and no rules about keeping employee pay confidential. Open compensation plans are noted for reducing employee turnover.
  • Succession Planning -  is a process for identifying and developing internal people with the potential to fill key business leadership positions in the company. Succession planning increases the availability of experienced and capable employees that are prepared to assume these roles as they become available. Taken narrowly, "replacement planning" for key roles is the heart of succession planning. Effective succession or talent-pool management concerns itself with building a series of feeder groups up and down the entire leadership pipeline or progression (Charan, Drotter, Noel, 2001). In contrast, replacement planning is focused narrowly on identifying specific back-up candidates for given senior management positions. For the most part position-driven replacement planning (often referred to as the "truck scenario") is a forecast, which researchindicates does not have substantial impact on outcomes.

    Fundamental to the succession-management process is an underlying philosophy that argues that top talent in the corporation must be managed for the greater good of the enterprise. Merck and other companies argue that a "talent mindset" must be part of the leadership culture for these practices to be effective.

    Succession planning is a process whereby an organization ensures that employees are recruited and developed to fill each key role within the company. Through your succession planning process, you recruit superior employees, develop their knowledge, skills, and abilities, and prepare them for advancement or promotion into ever more challenging roles. Actively pursuing succession planning ensures that employees are constantly developed to fill each needed role. As your organization expands, loses key employees, provides promotional opportunities, and increases sales, your succession planning guarantees that you have employees on hand ready and waiting to fill new roles.

    According to a 2006 Canadian Federation of Independent Business survey, slightly more than one third of independent business owners plan to exit their business within the next 5 years and within the next 10 years two-thirds of owners plan to exit their business. The survey also found that small and medium-sized enterprises are not adequately prepared for their business succession: only 10% of owners have a formal, written succession plan; 38% have an informal, unwritten plan; and the remaining 52% do not have any succession plan at all. The results are backed by a 2004 CIBC survey which suggests that succession planning is increasingly becoming a critical issue. By 2010, CIBC estimates that $1.2 trillion in business assets are poised to change hands.

    Research indicates many succession-planning initiatives fall short of their intent (Corporate Leadership Council, 1998). "Bench strength," as it is commonly called, remains a stubborn problem in many if not most companies. Studies indicate that companies that report the greatest gains from succession planning feature high ownership by the CEO and high degrees of engagement among the larger leadership team.

    Researchindicates that clear objectives are critical to establishing effective succession planning. These objectives tend to be core to many or most companies that have well-established practices:

    • Identify those with the potential to assume greater responsibility in the organization
    • Provide critical development experiences to those that can move into key roles
    • Engage the leadership in supporting the development of high-potential leaders
    • Build a data base that can be used to make better staffing decisions for key jobs

    In other companies these additional objectives may be embedded in the succession process:

    • Improve employee commitment and retention
    • Meet the career development expectations of existing employees
    • Counter the increasing difficulty and costs of recruiting employees external
  • Knowledgebase Management - In general, a knowledge base is a centralized repository for information: a public library, a database of related information about a particular subject, and whatis.com could all be considered to be examples of knowledge bases. In relation to tnformation technology (IT), a knowledge base is a machine-readable resource for the dissemination of information, generally online or with the capacity to be put online. An integral component of knowledge management systems, a knowledge base is used to optimize information collection, organization, and retrieval for an organization, or for the general public. A well-organized knowledge base can save an enterprise money by decreasing the amount of employee time spent trying to find information about - among myriad possibilities - tax laws or company policies and procedures. As a customer relationship management (CRM) tool, a knowledge base can give customers easy access to information that would otherwise require contact with an organization's staff; as a rule, this capacity should make the interaction simpler for both the customer and the organization. A number of software applications are available that allow users to create their own knowledge bases, either separately (these are usually called knowledge management software) or as part of another application, such as a CRM package.

    In general, a knowledge base is not a static collection of information, but a dynamic resource that may itself have the capacity to learn, as part of an artificial intelligence (AI) expert system, for example. According to the World Wide Web Consortium (W3C), in the future the Internet may become a vast and complex global knowledge base known as the Semantic Web.

  • Workforce Compliance and Diversity -

    So what should you be monitoring when it comes to workforce compliance and diversity? We’ve compiled a list of key metrics in critical Workforce Compliance and Diversity areas to help you better incorporate compliance and diversity measurements into daily business processes — and to help save you time and resources.

    Table 1:

    Workforce Compliance and Diversity Metrics and Impact identifies the three areas of workforce reporting and planning where Workforce Compliance and Diversity metrics are important, along with specific metrics and the bottom-line impact of each.

    Table 2:

    Workforce Compliance and Diversity Metrics Glossary is an actionable breakdown of key terms, with definitions and formulas for each metric and how to monitor and apply those metrics. This “glossary” also outlines the boardroom-ready reports and analytics available within InSight, the SaaS solution from the workforce planning and analytics division of Peoplefluent.

    Having a better understanding of which metrics mean most for your compliance and diversity initiatives — plus why and how to monitor them — is the first step in simplifying workforce analytics for your business needs.

 

 

 

 

 

 

 

 

 

 

 

 

 

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