Written by Benjamin Lee for iqDynamics
The role played by HR professionals is constantly evolving with the times. As HR management becomes increasingly important in today’s organization’s we take a look at the versatility offered by Human Resource Management systems.
Despite being a first-world nation, wage theft is still very much a serious problem in Singapore. For the unfamiliar; wage theft is defined as the practice of illegally withholding or deducting an employee’s salary, benefits or overtime payment.
From unscrupulous employers and agents to ignorant managers and HR professionals, there are a myriad of reasons as to why employees fall victim to this practice. Accusations of wage theft whether actual or not can be extremely detrimental to an organization.
In fact, the Employment Act of Singapore has several provisions in place with regards to overtime pay on both normal work days as well as public holidays. Failure to comply with this can result in severe penalties for the organization
While many may argue that they always have the best interests of their employees at heart, it is also extremely likely for an organization to unintentionally participate in wage theft.
Thus, it cannot be overstated how vital it is that organizations remain compliant with the latest government rulings. To prevent the intentional or unintentional wage theft, organizations must be able to record and pay out any benefits owed to their employees in a timely manner.
Recognizing the importance of tackling wage theft, we at iqDynamics have designed a HRM system that provides HR professionals with the tools they need to easily and accurately track an employee’s work hours.
With IQDynamic’s integrated time-tracking module, overtime hours are accurately recorded and passed onto the payroll module for quick processing. This eliminates the need for rework and ensuring that payments are made on time.
Performance management has always been one of the more challenging aspects of talent management. For years, debates have raged over how the performance of employees should be measured with dozens of experts weighing in.
The stack ranking system that was popularized by then GE CEO, Jack Welch in the 1980s has often been termed as a forced ranking system. This system requires managers to rank their employees on a bell curve with only 10% of employees being designated as top performers, 75% classed as meeting expectations while the remaining 15% are designated as non-performers.
In the past, the stack ranking system was said to be able to motivate employees to continually improve themselves and discourage complacency. However research has actually shown that stack ranking in fact damages employee morale and foments discontent. This is because, the stack ranking system forces employees to be rated as good, mediocre and poor regardless of their performance. Consequently, employees become more concerned with internal politics then competing with other companies.
At iqDynamics, we believe that performance rankings should accurately reflect an employee’s performance. Our performance assessment module makes use of a 3-cycle appraisal process that analyzes all aspects of your employee’s performance. In order to facilitate the two-way flow of information, we utilize a 360 degree feedback loop which allows employees to give and receive effective feedback.
Having sat down with several HR managers and executives in order to gain additional insight into the challenges faced by them, we learned that time management is a major concern for many professionals.
In today’s fast-paced world, plenty is expected from HR professionals. From managing talent to recruiting new staff while ensuring compliance, there is no doubt that HR professionals have their work cut out for them.
Oftentimes, HR professionals are expected to process mountains of paperwork in a short period of time while still managing other commitments. After conducting an in-depth study, we at iqDynamics have realized a large proportion of business processes can be automated with the right HRMS.
For example, filing and documentation is one of the most time-consuming yet least valuable business process. With a HRM system from iqDynamics, HR professionals will be able to digitize the files and documents of their employees, which eliminates the need for a paper trail.
Employee leave and overtime claims have traditionally been manually processed with some organizations requiring staff to fill in paper forms. With our HRM system, employees will be able to submit and check on their leave applications via a mobile app, hence automating the entire process.
On the long-term, this frees up HR professionals for more value-added tasks while also improving efficiency of various business processes
A well-designed HRMS does more than just paperwork, it manages employee engagement, legal compliance and optimizes business processes. Click here to learn more!