Table of Content
- Introduction
- What is HRMS and HR Strategy?
- 5 Types of HR Strategies to Note & Implement in 2024
- FAQs on HR strategy to Digitalise with HRMS
- What is the best HRMS software for small businesses?
- How can HRMS improve employee engagement?
- What challenges can arise during HRMS implementation?
- How does HRMS ensure data security?
Introduction
The modern business environment requires new tools and digital platforms to complete tasks with ease and efficiency. That is why organisations need various types of HR strategies to determine the roles, objectives, and policies of the HR department.
Human Resources (HR) departments are on the verge of transformation, incorporating modern technology to streamline operations, enhance employee experiences, and make informed decisions.
One of the crucial aspects enabling this switch is the Human Resource Management System (HRMS). But how can HR strategies be digitised with HRMS?
What is HRMS and HR Strategy?
HRMS is an online software designer to automate and manage all core HR processes in an organisation.
From recruitment to retirement, HRMS provides various features on a single platform, enabling HR professionals to work with efficiency and productivity.
It empowers and equips an HR leader or a CHRO with the right medium and features to streamline and standardise every stage of ELC.
HR strategy is an action plan companies create to define the roles and responsibilities, policies, procedures, and expected goals for their employees.
These strategies are dynamic, evolving as per the needs and demands of the business world. Whatever strategy we are using now may not work next year or even after 6 months.
A strategic HR plan aims to execute HRM policies and procedures efficiently as the business scales.
These ought to focus on meeting both organisational and workforce needs. Without a strong HR strategy, a company's HR department adversely affects the growth rate of the business.
Let’s swoop into the five types of HR strategies that can modernise through powerful technology.
5 Types of HR Strategies to Note & Implement in 2024
Here are the top 5 types of HR strategies that one should always keep in mind:
- High Efficiency Management
The high efficiency management or high performance strategy focuses on boosting various practices such as creativity, standards, client service satisfaction, and growth rate for an organisation.
High-efficiency management consists of skills-based recruitment and selection processes, on site training and management activities, effective payroll management, and performance trackers.
These implementations are generally known as ‘high-performance work systems’ or HPWS.
- Loyalty Management or High Commitment Management
The major characteristic of HRM is its emphasis on the importance of boosting mutual understanding and loyalty. Organisations or HR departments generally follows these basic things to promote loyalty that are:
- Skills-based job design templates generated with AI tools like AI Suggest for jobs that have meaning, purpose, and a vision for agile career pathing.
- New types of assessment and payroll management systems and, precisely, merit pay and profit sharing.
- Active employee participation is also essential in the management of quality and higher commitment to job roles.
- Employee Engagement
Engaging with employees is an important task in creating a positive environment at a given workplace.
Employers should communicate with their staff by providing
- Real-time feedback,
- Immediate solutions to problems,
- Appreciation for completing any task,
- Yearly increments, and much more.
Clear communication and well-explained expectations from the seniors or managers reduce discrepancies or misunderstandings. It improves project delivery and quality.
Employees open up more and connect on a freely available channel to resolve concerns with their managers. That is also how regular surveys empower the employees to raise their voices on issues, provide their suggestions, and communicate their expectations.
In fact, using a social intranet with anywhere access can help initiate this engagement organically at an organisational level.
- Diversity and Inclusivity
Society is sensitising people towards various matters. That is why diversity and inclusion are the most crucial parts while creating an effective HR strategy.
It enhances creativity and innovation as people from different cultures or domains come together to achieve a common goal.
The inclusion of gender-neutral words, like business people, salespeople, and chairperson, instead of specifying a gender, helps neutralise the communication and make it more mindful.
Using words and phrases concerning cultural diversity is an important practice that should be done in the organisations to show respect to all cultures.
HR should implement rules and policies also to support diversity and inclusion.
- Integration of Technology in HR departments
To optimise their tasks management, integration of HR functions with technology has become highly important. In fact, HR departments with modern-day technologies roll out their core HR functions systematically.
HR software like uKnowva helps automate HR functions effectively. Our software is cost-effective and boosts productivity, keeping HR on track with desired outcomes.
Many Indian organisations rely on traditional systems without fully optimising their HR management process. But, with the correct approach, these too can automate their process and reap constant benefits like:
- Increased individual, team, and business unit productivity
- Lowering the cost to acquire new talent
- Reduction in absenteeism and turnover
- Improved brand image and recognition
- Enhanced discipline between departments
- Accelerating relational analysis between dispersed and scattered teams
With the usage of new technologies, organisations can streamline their HR processes, enhance data accuracy and security, and improve decision-making skills.
Conclusion
Effective HR strategies are crucial for any companies' success.
After studying these 5 types of HR strategies, businesses can streamline their HR practices from pre-hire to post-retire.
Implement uKnowva HRMS in your organisation to systematically develop, implement, monitor, and measure the impact of these strategies discussed above.
FAQs on HR strategy to Digitalise with HRMS
What is the best HRMS software for small businesses?
The best HRMS software for small businesses varies based on specific needs, but popular options include uKnowva HRMS.
How can HRMS improve employee engagement?
HRMS improves employee engagement by offering tools like a social intranet embedded with pulse surveys, recognition programs, and feedback platforms, all of which help keep employees motivated and aligned with company goals.
What challenges can arise during HRMS implementation?
Common challenges include data migration issues, resistance to change from employees, and the need for thorough training to ensure all users are comfortable with the new system.
How does HRMS ensure data security?
HRMS ensures data security through encryption, access controls, and regular audits, protecting sensitive employee information from unauthorised access.
