4 Ways an HRMS Can Ease the Pain of Employee Resignation
Employee turnover can be a costly exercise! Monetary costs are estimated by the Society for Human Resources Management (SHRM) at 100-300% of the person’s base salary, in addition to the time and effort necessary to recruit a new employee and get the person trained. If you have an HRMS however, you are one step ahead of the curve, and here is why...
An HRMS Tracks the Reason for Resignation
Historically, HR may do a paper-based exit interview when an employee leaves the organization in order to investigate employee turnover in a qualitative way. An HRMS gives you more in-depth data analysis if you can identify key data elements to capture as an employee is exiting. Further, an HRMS can provide or integrate self-service functionality to enable a former employee to complete an exit survey online later, as often more clarity can be gained once an employee has left.
An HRMS Streamlines Employee Offboarding
Does a line manager or HR know what company property is held by an employee? While a laptop or corporate credit card may be obvious, what about home broadband, conference lines or any specialized equipment? Tracking such items in the HRMS allows for easy identification of them, and subsequent retrieval or cancellation of such services.
An HRMS Can Identify Replacement Candidates
Often, managers know of candidates internally who can replace an employee. Many times, however, there is a great internal resource who works in another department and is unknown to the line manager. Here is where your HRMS can really shine! If you are tracking education and skills, it’s only a matter to compare the prior incumbent’s profile with existing employees to mine the data and find ‘hidden’ candidates. Pain free recruitment is the perfect tonic for employee turnover issues.
An HRMS Will Help You Identify Training Gaps
If you store skills, certifications and training completed in your Learning Management modules of your HRMS, it becomes quite easy to see where gaps exist in the knowledge held by the former employee and the newly hired replacement. It is then possible to proactively create a training plan rather than waiting for such gaps to be noticed via on the job performance.
HRMS vendors continue to create new offerings and improve their products. Many of these innovations focus on employee management so be sure to stay up-to-date on the latest HRMS products with the HRMS Software Guide.
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