HR Software | Types of Human Resource Software and Market Growth Drivers

September 04 20:05 2020
HR Software | Types of Human Resource Software and Market Growth Drivers

Guide to Choose Best HR Software – 360Quadrants
HR software enables organizations to streamline and simplify procedures in human resource operations by performing tasks like employee management, training and e-learning, and other critical aspects related to human resource management.

Different Types of HR Software:

Human Resource software is distributed into various groups that cover solutions right from benefits administration to workforce management software. The following are the types of HR software:

1. Talent management software:

HR software offers organization-wide employee oversight solutions. The features comprise career management, reimbursement management, employee engagement, and employee appreciation, etc.

2. HR analytics software:

HR professionals leverage Human Resource software solutions to gather and assess business data to help in enhancing productivity. These solutions track employee performance to support businesses in foreseeing productivity and enhancing workforce management.

3. Core HR software:

Core HR software helps in developing a central database through which employee information, such as payroll and benefits data, can be retrieved and preserved.

4. Benefits management software:

This software generally controls the benefits packages. It can be accessed by employees through a dedicated employee portal in which they can pick from the benefit plans provided by their employers.

5. Staffing software:

Staffing software helps in sourcing active and passive applicants on behalf of companies that employ them to manage their recruiting tasks.

6. Career management software:

Businesses use this software to allow their employees to handle their career development. Career management software can be integrated with other HR tools to deliver HR professionals and employee self-service solutions.

7. Payment management software:

Companies make use of the payment management software to handle employee compensation packages that include developing internal compensation plans and bonus structures.

8. Employee engagement software:

Employee engagement software helps businesses in leveraging pulse surveys to gather responses about employees and company satisfaction. Besides, employee engagement software enables organizations to use these responses to execute corporate wellness initiatives and recognize employees.

9. Employee recognition software:

HR personnel uses this software to set benchmarks for employee rewards, as well as track employee growth toward achieving the set goals and HR software help to achieve that. These tools also offer solutions that complement and sometimes integrate with, employee engagement tools.

10. Performance management software:

Businesses make use of this software to recognize and develop employee performance benchmarks that the management can leverage to assess employee job performance. These HR software often include 360-degree response tools that managers and employees can use to rate each other.

What are the major market drivers for HR Software?

The Human Resource market is driven by the progressions in IT, the inclusion of predictive analytics in the HR process, growth in the acceptance of cloud among SMEs to efficiently manage field and office personnel, among others.

Suggested Read: 360Quadrants Releases Best HR Software Companies of 2020

ABOUT 360QUADRANTS  

360Quadrants is the largest marketplace looking to disrupt USD 3.7 trillion of technology spend and is the only rating platform for vendors in the technology space. The platform provides users access to unbiased information that helps them make qualified business decisions. The platform facilitates deeper insights using direct engagement with 650+ industry experts and analysts and allows buyers to discuss their requirements with 7,500 vendors. Companies get to win ideal new customers, customize their quadrants, decide key parameters, and position themselves strategically in niche spaces, to be consumed by giants and startups alike. Experts get to grow their brand and increase their thought leadership. The platform targets the building of a social network that links industry experts with companies worldwide.

Media Contact
Company Name: 360quadrants
Contact Person: Mr. Agney Sugla
Email: Send Email
Phone: +1-888-600-6441
Address:630 Dundee Road, Suite 430 Northbrook, IL 60062
Country: United States
Website: https://www.360quadrants.com/software/human-resource-software


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