Need for HRMS

Human capital is the stock of competencies, knowledge, social and personality attributes, including creativity, cognitive abilities, embodied in the ability to perform labor so as to produce economic value.

Human Resource Management is a function of the organization that focuses on improving Human Capital via procuring, developing, and maintaining a competent workforce to achieve goals of the organization in an effective and efficient manner.

Typical HRMS systems include the following:

• Payroll
• Time and attendance
• Performance appraisal
• Benefits administration
• HR management information system
• Recruiting/Learning management
• Performance record
• Employee self-service
• Scheduling
• Exit management
• Analytics and Reports