Benefits of Global HR Software For Small Businesses
Improving the efficiency of internal processes is one of the most important steps a small business needs to take. But often, it gets neglected as it’s time and resource-intensive. However, in an age where time is money—and money may be tight—HR software can help businesses manage employee hours, payroll, benefits, and more.
But if you have employees in multiple countries, how do you keep track of them all?
Well, there’s a simple answer: global HR software.
What is Global HR Software?
A global HR software program is a digital Human Resources system that is used to manage employee data and performance across multiple countries.
Unlike a regular HR software application, also referred to as HCM (human capital management), HRIS (human resources information system), or HRMS (human resources management system), global HR systems manage data from employees located all over the world rather than just in one office or location.
As outsourcing has become more commodified and the number of freelancers in the US alone is expected to reach 86.5 million people by 2027, the need for global employee management has grown. Through software programs like this, small businesses can better manage HR-related processes such as recruitment and onboarding, employee payroll, and general management. Additionally, they can track and monitor performance, complaints, benefits, absence management, and hours.
4 Global HR Software Benefits
The HR software market worldwide has enjoyed steady growth from $30.8 billion in 2019 to an estimated $33.04 billion in 2024. This software has empowered businesses of all shapes and sizes to streamline operations and meet company goals across the world.
Thanks to secure cloud-based software and a host of innovative features and tools, your small business can join the digitization movement in an effort to save time and money, all while improving efficiency and boosting workflow for employees at every level.
Take a look at these four key benefits to find out how using a global HR system can make your small business stronger.
1. Simplify onboarding, contracts, and compliance
A healthy business, especially one that operates internationally, needs excellent onboarding processes, contract generation, and compliance control. Automating HR services for a small business can ensure that all of these processes are in place.
A global HR software program can make global hiring so much simpler and ensures that all new hires are provided with the information and resources they require to start contributing. It can also take care of payroll and taxes, something that can be challenging when there are various laws and regulations that apply to hires in different countries.
2. Track KPIs and reach goals
Tracking Key Performance Indicators (KPIs) and goals is crucial for encouraging business growth. By keeping well-informed about your company’s progress in relation to set goals and milestones, it becomes much easier to accelerate expansion. This is something very important to small, growing businesses.
You can use global HR software systems to track employee KPIs, such as employee training progress, absentee records, recruitment statistics, and any other key metrics.
3. Monitor employee performance
Monitoring and evaluating employee performance is an essential part of managing any business, big or small. When your employees are scattered across various countries, tracking their performance becomes even more important for gauging work performance.
Global HR software systems can automatically measure productivity and assess individual as well as group performance based on set benchmarks and performance measurement tools. This can make the process of understanding employees’ needs and skills much simpler and easier.
4. Manage workflow across your organization
When it comes to small businesses, the need for micromanagement is often magnified. This contributes to the more than 50% of managers who report feeling burned out.
But with an organized and automated HR management system, small business owners can spend less time behind their desks and more time focusing on bigger priorities. An electronic workflow system adds speed, efficiency, and productivity to any workplace, especially one with global employees.
HR Software Changes The Game
Global HR software is an essential tool for any small business with employees based in more than one country.
With broad integration features, powerful evaluation tools, and a more simplified workflow pattern, your business can manage its employees in a more efficient, productive, and time-saving way, all while enhancing performance and profits.