When starting a business, the most crucial factor is how to make the most efficient use of the limited funds available. While some entrepreneurs enter the industry with a well-funded portfolio, not every start-up has the luxury to employ all the elements of an enterprise. In such cases, business owners set up a basic framework of the important domains like client acquisition, operations and service delivery. Since they do not have enough funds or resources to install a well-equipped human resources department, these responsibilities are often shared by the heads of other domains or by the founders/owners.
Another argument that entrepreneurs present against having a HR department is that the team working at start-ups is relatively small, and the affairs are easily handled by the managers or directors. But these simple affairs take big form as the company grows and more people join the team. The complex HR activities take up a lot of productive time of managers, restricting them from performing their best in acquiring more business for the firm. It also creates a sense of discomfort amongst employees as they feel neglected in absence of a centralised HR system.
This is where the online HR tools come to rescue. Designed to offer easy and complete control over basic and complex HR activities, these software suites act as a virtual human resources department. With features such as online personnel management, leave management, employee time clock and self-service portal, these tools allow entrepreneurs manage their workforce in an efficient manner without much hassles.
Considering that the investment required for installing online HR software is very less compared to setting up a full-fledged human resources department, many entrepreneurs are now choosing to implement the suites in their companies from the beginning. Start-ups that currently do not have enough funds to invest in an online HR application can also get short term credit from a private loan lender. Online short term loan lenders like personalloansnow.co.uk offer hassle free loan for personal and business purposes.
Why can you do with an online HR suite?
Easy and secure record keeping
Smart HR tools have an employee self-service dashboard that allows them to maintain their personal records like demographic details, achievements, current projects etc. this information is stored on the cloud servers with access made available to the managers and authorized personnel. Not only does it eliminate the need to bulky record keeping, it also makes access to these documents easy and highly secure.
Automated Leave Management
Leave management in small teams is easy, but it becomes troublesome as the team gets bigger. With online HR tools you can digitize your leave policy, and monitor the leaves of your team from your computer. These suites allow users to check, apply for, and authorize holidays, leaves, paid time offs and any other type of absence from work. This type of Human Resource Management System is use by many industries. The system generates individual leave and working days records for every team member, simplifying the leave management process.
It also records employee time clock and time spend on individual projects, which is very useful for projects which are billed on the basis of hours or resources employed.
Needless to say that the online HR suites have come up as efficient and reliable alternatives to human resources department, especially for small enterprises which cannot afford large teams for HR activities. Even for large companies, these applications provide a progressive platform to further strengthen and improve the HR policies and practices.
