Infographics: How HRMS is Affecting HR teams in USA Through 2024

In 2024, would you like to add HRMS tools so that your job is easier? Perhaps you only use it for your business or personal purposes, and knowing more about the key HRMS statistics of 2024 would be a good thing to do.

A set of software applications used to manage human resources and related processes throughout an employee's career is known as HRMS or Human Resources Management System. An HRMS allows companies to fully understand their workforce and to comply with changing tax and labour legislation. The main users are HR managers and HR teams in US Market, as they manage day to day operations on the basis of their responsibility for compliance reports and performance monitoring. However, HR is not the only department that benefits. Companies can provide managers and employees with the ability to do self-service by themselves, which is a key selling point for young employees. HRMS can be used by managers to provide information on workforce trends and their implications for the business of USA region.

What impact will HRMS have on your day to day, or the way you do business? Do you plan on investing in HRMS? What should be your focus areas?

The employee onboarding and retention are few of the biggest Human Resources Management System challenges the present HR teams are facing in the USA. The Recruitment agency faced a lot of challenges and retention of employees are also an issue needed to be addressed according to the research statistics. Here you will find few challenging questions commonly regarding HRMS.

Below are 7 main statistics that emphasize the fact why a customized HRMS is absolutely vital 
  • 53% of HR professionals say that an improved onboarding experience increases employee engagement.  
  • 72.8% of employers struggle to find relevant candidates for their businesses.  
  • 97% of HR leaders are planning to increase their investment in recruiting technology by the year 2020.  
  • Roughly 44% of talent managers look to cloud solutions to increase efficiency and productivity, while 35% see the cloud as a way to reduce costs. 
  • 74% plan on increasing spending on HR technology. 
  • With nearly 90% of workers constantly networking for new opportunities, some attrition is natural across all industries.  
  • The report states that 47% of HR teams say employee retention and turnover is their biggest challenge.  

The Digital HRMS solution is one of the beacons for innovation. Digital HRMS enables organisations to manage these challenges in a seamless manner, with a comprehensive set of features designed to simplify human resource practices. The Digital HRMS Recruitment Management Module and other modules like Training Management, Performance Management and Self-service and many more help keeping it exciting for the employees and help increase their retention. One thing is clear when we look ahead to the future of human resources management: those who are best able to exploit the power of advanced HR software solutions will be in a position to build a robust, agile and competent workforce.