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With the start of 2023, the freelance population is blooming. The percentage grows by 3.5 percent every year according to an online source. The era of digital transformation gives rise to remote working and the gig economy, which brings a challenging job for HRs to handle. Today top talent doesn’t want to work as a regular employee as they prefer to work as a freelancer. This change brings a lot of changes and challenges with it. To deal with them and secure the productivity of the company, HR management software is here to help.
uKnowva HRMS software helps the HR team in various ways to shift their traditional working style to a digital work set-up. The HRMS helps to streamline the processes and strategise the plans to keep employees engaged and help them to grow together with the company. The HRM software offers various features that help employees to be motivated and provide equal opportunities to grow in the workplace culture. Let’s explore the blore and see how HRMS and the gig economy go well together.
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How Does HR Management Software Streamline The Gig Economy?
The way of handling the gig economy is smartly handled and managed by uKnowva’s HRMS. We have listed the main features of our software that helps to streamline the gig economy in this era of technology.
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Efficient Attendance Tracking
Attendance tracking becomes hard to manage with the growing size of the organisation. Besides the size, holding attendance manually puts many problems, like more prone to errors, wastage of paper, time-consumption, and remote employees can’t be hired.
With our HRMS, you can track the attendance of your remote employee through a click as we provide a biometric facility. Apart from this, the attendance tracking software calculates the overtime of employees.
As with the gig economy, many employees are switching to work from home or off-site work; this feature plays a significant role in tracking employee activeness in the organisation.
The biometric tracker collects all the data daily and automatically transfers it into the system that helps the payroll management system to calculate the salary by knowing the working days, non-working days, overtime hours, etc.
It eliminates the chances of any type of error in the calculation of the salary. All the paid and unpaid leaves get recorded, and the salary gets calculated after collecting all the relevant data.
It provides an efficient way of working with HRs, managers, and employees. The method offered by us in the human resource management system is undoubtedly the best way to keep up with the fast-paced world of the gig economy.
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Robust Hiring Processes
To give your hiring and recruitment process a new direction, ATS (applicant tracking systems) are needed in the rising world of the gig economy. The robust features of ATS help in the hiring process as it helps to filter the best and most relevant skill sets and qualifications of the candidates.
It helps to reduce bias and promote equity in the hiring process. Once the candidates are selected and hired, ATS digitises the onboarding process and transfers all the data to the organisation's database. The in-built tools make the onboarding process efficient and quick; they are well-equipped with all the necessary facets.
In an economy where everyone is in a rush, organisations always want to snatch up the best talent to empower themselves. A more skilled and efficient workforce helps to achieve goals more quickly than before.
Thus, making the right choice of complete HR software to have a good ATS for your hiring process is a must.
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Flexible Payroll Systems
As the mode of work changes, the HR department needs to upgrade its payroll system so that every calculation gets calculated by the software and there is no room left for error. The employment gets diversified daily, shift-rated, or per-month basis, so calculating every calculation is very tedious and time-consuming.
When the calculations are done manually, there are high chances of error and delays in the issue of salaries that force employees to leave. It causes a negative impact as the employees are unsatisfied and thus causes additional contributions like CPF and income tax to become extra complex.
Thus, opting for a smart HRMS which has an integrated payroll system is a smart and efficient choice.
The software delivers your calculations on time, regardless of the size of the employee reimbursement, expenses, or other payroll-related data.
With the upliftment in the gig economy, our HR management software updates itself to be more effective in managing payslip generation and payroll calculations.
It saves the time spent on lower-level operational HR activities like data entry. It frees up time that an HR can utilise in focusing and planning to grow the company and engage the workforce.
Conclusion
The gig economy has revolutionised the way the business world operates. With the advancement in technology, the HR management software and HR department have also upgraded themselves with time and adopted the latest trends and technologies to drive more success to the business.
If you want to maintain a competitive edge in your business, then do uKnowva to streamline your HR processes. The workforce is more productive, achieving goals on time when using uKnowva. There is immense transparency as far as goal setting, performance management, time and attendance management, and payroll generation goes.
FAQs
What is the gig economy?
The gig economy refers to a workforce market characterised by short-term or freelance work engagements, often facilitated through online platforms. Independent workers, known as gig workers, provide services or complete tasks on a flexible basis without long-term employment commitments.
How uKnowva HRMS software streamlines the gig economy?
uKnowva HRMS streamlines the gig economy by providing a centralised platform to manage the entire lifecycle of gig workers. It automates recruitment, onboarding, time tracking, payments, and performance evaluation, ensuring efficient operations. HRMS enhances productivity, simplifies compliance, and fosters seamless communication, ultimately optimizing the gig economy's workforce management processes.
What factors give rise to the gig economy?
The gig economy is primarily driven by several factors. Technological advancements and the widespread availability of digital platforms have facilitated the easy connection between service providers and consumers. Additionally, shifting work preferences, a desire for flexible schedules, and the potential for higher earnings have also contributed to the rise of the gig economy.
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