Why is HRIS Relevant for Startups and Specially for a Nepalese Startup?
Nowadays, there are so many fresh new ideas being brewed each minute in the world, causing many founders to take that leap, launching their own startup. Arguably, at the same time, this is an exciting and nerve-racking experience for businesses trying to find their feet. In their early days, startups face an abundance of risks which could be from products, economics, funding, development, demand, technology and management. Even though you have to be risk-taker to be an entrepreneur, it can be somewhat daunting assessing and overcoming all the risks when just starting.
You have so many things to consider, that's before you even decide on the resources or services you will use to aid that decision of yours. After all, irrespective of your experience you are starting from scratch. It can take a lot of time and human resources to achieve those objectives and address all of those new risks. One way of tackling those risks is by incorporating Software as a Service (SaaS) into your business. There is a wide range out there tailored to startups, which can save you time and money on hiring new candidates. In this day and age, you can find many solutions to your problems through SaaS. One significant way to start eradicating or easing your new posed startup risks is by making that decision on choosing the right SaaS. Here at DanfeBooks, we suggest the best one to become acquainted with is a Human Resources Information System (HRIS).
The purpose of an HRIS allows for data management, data tracking and data tracking of payroll and management. It's basically a Human Resources Managers best friend. The Software has a focus on HR and accounting duties. In today's world, a lot of companies are producing this Software and selling to many industries.
However, the best HRIS features data importation and integration, allowing you to sync employees payroll. Which makes your accounts a lot smoother, taxes and holidays to be deducted at the click of a button. It also serves as a database managing confidential employee information such as names, titles, addresses and salaries. The best types of HRIS lets you track employees attendance and check their compliance. Likewise, review their holidays and maintain a company holiday calculator within the Software.
In today's digitalised world, there are so many companies trying to offer services catering to single-handed HR problems. HRIS curates all of them, providing multiple solutions in one. Once initially set up, it allows tasks to be completed in a time-effective manner. As soon as the initial company data is there, it allows for quick input and retrieval. Likewise, it saves time from decisions needing to be made by the HR team. As well as leading to higher employee satisfaction as they can review their requests and payslips in one place at any time. Similarly, depending on your goals, you could scale down on the HR manpower and save money.
Most information on HRIS is stored securely on-premise or on a cloud. We recommend a cloud. This eliminates a paper trail and allows quick retrieval of information. Most clouds are encrypted and serve as a place where only authorized professionals can access information.
Well, startups often set up with a small number of employees who often take dual roles to kickstart the businesses. Over time, they grow, positions become more defined, and the scale of the business expands. As the workforce magnifies, so does the data. This includes salaries, benefits, taxes, holidays, sickness, healthcare costs and more. If you don't have this information filed correctly at the start, it can prove to be very disorganized and time-consuming to manage at a later date.
If you implement HRIS during the early days of your business, it allows for efficiency by having your HR tasks organized. As the Software is straightforward to use, it saves time for your focus to shift to elsewhere.
You're a startup, you have a scarce or a budget set for the running of your business Startups, can't afford to make legal mistakes such as miscalculating pay, taxes, leave or attendance. If you have an organized system in place and update employee information as you go, your risks of mistakes are minimal to a paper trail. Therefore you have less chance of your employees taking you to court and you risking out loosing on your funds.
Whether you're an employee or an employer, the data is all there on the screen. Which allows you to review and interpret data quicker, allowing better decisions and new ones to be formed. It will enable your company to address the HR basics, without missing out the essentials.
Today it's needed more than ever in Nepal. Currently, there are very few and those of use the Gregorian calendar. Which makes it hard for businesses or startups to fulfil their HR duties, as the government works off the Bikram Sambat Calendar (बिक्रम संवत). Which is even more evident, when national holidays get announced, and the dates differ from the year previous. By using HRIS suited to this, it proves more reliable, and you don't have to use external apps to calculate dates or tax. Nepali laws are regularly updated and applied to the system.
On a further note, salary sheets are limited in Nepal and can take time for employees to gain to proof of their earnings. HRIS allows employees in a startup to access their information at any time and raise any queries with employers having less time to wait.
Currently, in Nepal, there are a few forms of HRIS; however, not many incorporate multiple solutions in one go. Likewise use the Bikram Sabat Calendar. DanfeBooks does all of this, has your startups best interests, at an affordable price and provides continual support. Try it out for free here.