SaaS for HR Management: Benefits & Key Features

Almost all HRMS today are SaaS. So what is HR Software as a Service? Software as a service is a service that allows employers, employees, and HR departments to access the software remotely.

Learn more about the most popular HR software for businesses in 2022.

What Can An HR SaaS System Do For A Business?

SaaS HR software reduces the need for users to be onsite and connect to local networks, which is one of the biggest advantages over traditional HR software. In contrast, SaaS software can usually be accessed from anywhere with an internet connection. SaaS HR systems are ideal for businesses with many remote workers, as well as industries with nonconventional schedules and shifts, like healthcare and manufacturing.

Human resources software functions vary widely from company to company, but these are common:

Administering Benefits

Your business saves time and money when you automate employee benefits distribution. Learning management systems on HR SaaS platforms can also help HR departments educate workers. HR SaaS lets employers manage benefits such as paid time off and health insurance.

Self-Service For Employees

By allowing employees to communicate with supervisors, request paid leave, and submit their own timesheets; SaaS systems can relieve some of the burdens on your human resources system. Self-service options empower your employees and simplify data management.

Talent Management

Hiring managers benefit from HR SaaS applications that automate applicant tracking, recruitment processes, and on-the-job training. Employee performance reviews and other useful feedback can be generated using a talent management suite which includes a performance management tool.

Payroll Processing

Workforce management can be tricky when you hire remote, freelance, or contract employees. Employee pay accuracy is improved by automating HR payroll software, which eliminates common human errors and simplifies the process. Self-service SaaS systems make payroll submission and amendment easier for workers. 

Employee Performance Monitoring

Performance tracking is also possible with HR SaaS. Setting personal, group, and company goals and checking milestones is easy with HR SaaS solutions. Performance management ensures employees reach their goals and perform their best.

Human Resources SaaS Benefits

Managing a large team of employees is a big responsibility in any HR department. However, maintaining compliance with local, state, and federal laws, tracking time, and managing payroll can be overwhelming. That said, HR SaaS offers several benefits for your company. Among the benefits of HR SaaS are:

Enhances efficiency: HR SaaS automates tedious tasks, saving time. As a result, employees have more time to focus on more important tasks and projects rather than tracking time or handling HR manual work.

Cost-savings: Software streamlines onboarding, digitizes recruiting, and lets you manage your team. Labor costs can be reduced with these benefits. Moreover, HR SaaS reduces the probability of costly errors, such as payroll errors or noncompliance, so that you can focus on other matters.

Maintain compliance: HR SaaS software has great reporting capabilities, which ensure employees’ time is tracked, and avoid penalties for non-compliance. Noncompliance includes wrong paperwork, payroll errors, and mistakes in tracking employee leave. With the right HR SaaS, these issues can be avoided.

Flexibility: Besides being cloud-based, HR software can be accessed anywhere, including smartphones, tablets, laptops, and computers-which is especially helpful for companies transitioning to permanent remote management.

Are you considering more automated solutions for your organization? Check out our reviews on the best payroll software for small businesses.