Key points:
- Implementing a cloud-based software system for HR records and functions saves time and money.
- The SaaS HR provider manages access to the application, including security, availability, and performance.
- This third-party management frees up time for HR and IT staff while guaranteeing document safety.
SaaS HR is a subscription-based service designed for human capital management that users can access online from any location. SaaS applications typically offer features for employee timekeeping, recruitment and applicant tracking, performance management, employee learning and development, and other valuable applications. Perhaps best of all, SaaS applications can automate multiple processes, enabling HR managers to save time and focus on more important tasks.
What is SaaS?
Software as a service, or SaaS for short, is a way of delivering applications over the internet. SaaS applications are also known as web-based software, on-demand software, or hosted software. Although there are many advantages of cloud-based software delivery systems, two, in particular, stand out:
- Convenience and flexibility for remote workers: Applications run on the SaaS providers’ centrally-hosted software through a licensing and delivery model instead of only on desktop computers at a company’s physical location. With today’s largely remote-based workforce, this makes good business sense. Employees and contractors who work globally can easily connect to and use cloud-based apps over the internet, knowing that documents and data are stored safely and securely.
- Third-party management offers security and performance: The SaaS provider manages access to the application, including security, availability, and performance. This third-party management liberates an organization’s IT staff from time-consuming tasks, enabling tech workers to focus on their many other responsibilities.
What is SaaS HR strategy?
A SaaS HR strategy is a well-crafted business plan to first implement and then maximize the use of cloud-based software for automating various human resource and payroll functions. In addition to tried-and-true recordkeeping functions, a powerful SaaS HR program can track vital employee metrics, which can then be used strategically to increase employee retention and engagement.
A SaaS HR strategy is vital in 2023 because competition for recruiting and retaining top-tier employees is aggressive. Competition is so aggressive due to historically low unemployment levels and a mobile workforce—in which employees change positions on average every four years.
HR managers are faced with more challenges than ever
Low unemployment and high employee turnover can complicate HR managers’ efforts to retain and reward employees. HR leaders must manage investments in people and technology by promoting a positive culture and employee experience. In addition, they need to optimize HR to be more automated and digital while employee expectations are impacting attraction and retention
SentricHR’s Top Tips for Attracting & Retaining Employees Using SaaS
SaaS HR Strategy Tip 1: Create a better employee onboarding process
Once you’ve recruited and hired an employee, an effective onboarding process is critical for employee retention. Poor onboarding can leave employees with lower confidence in their new roles, worsened levels of engagement, and an increased risk of jumping ship when a new, exciting position surfaces, according to the Harvard Business Review.
When some people hear the term, “onboarding,” they think of information sessions on completing government forms such as W-2s and I-9s and discussions of fringe benefits. These tasks are important and are considered part of a new-hire orientation—which is vital —but is far from a complete onboarding program. For example, in 2023, new employees want to meet with their direct managers and learn about how their work performance will be measured. Increasingly, they also want their onboarding process to be entertaining.
SaaS HR Strategy Tip 2: Manage technology with an all-in-one system
Despite the “human” component of human resources, many HR functions focus on forms, reports, and a seemingly endless trail of paperwork. Such documentation must be handled expertly and efficiently because there is no legal alternative. This HR paperwork is required by law.
Luckily, records management software programs— a vital part of a comprehensive SaaS HR strategy— consistently save the day. Serving as digital superheroes to ensure lawful compliance, these cloud-based tools— either standalone or as an integrated feature within a Human Resources Information System (HRIS),—simplify document organization, compliance, workplace efficiency, and security.
SaaS HR Strategy Tip 3: Cultivate a positive culture and employee experience
Only 22% of employees are fully engaged at work, according to a 2022 Gallup workforce report. This recent finding can be troubling for employers who are struggling to recruit and retain workers. After hiring and onboarding them successfully, how do you motivate employees to consistently champion your company? For example, how would you incentivize employees to go that extra mile to hit a big deadline even if it means foregoing an important social event?
Employee engagement calculates how involved your workers are with your company. Apart from earning a steady paycheck and decent fringe benefits such as healthcare coverage and vacation time, are they passionately committed to your organization’s mission, vision, and values? Such commitment and high levels of engagement ensure an impressive level of productivity, resulting in a better bottom line for your business.
Gauge your workers’ level of involvement with employee surveys. This process begins by asking them how often they get positive feedback and recognition from their superiors. You can also ask them if they realize how their particular work impacts your company’s overall success. Once you target an area to work on, you can help employees feel more connected.
SaaS HR Strategy Tip 4: Transform your HR department to be more automated and digital
In 2023 and beyond, companies need to put the “human” back in human resources and focus their personalized attention on recruiting, hiring, onboarding, engaging, and retaining their valuable employees. In the past, voluminous paperwork consumed, confused, and confounded many HR managers. This is no longer necessary. All-in-one SaaS HR applications blend industry-leading document management with secure recordkeeping, so you can easily and efficiently create, manage, store, and sign digital forms all in one place.
Benefits of a SaaS HR Strategy
Successful companies pride themselves on their innovative products and services by promoting them at every turn. Your HR staff—as well as your senior executives— will be impressed with the benefits of using a SaaS HR strategy because it increases efficiency, enhances productivity, and improves employee engagement. In addition, this valuable workplace system provides real-time performance assessment, eliminates paperwork, and offers data security.
Schedule a demo with SentricHR to see what profound differences our all-in-one software can make for you, your department, and your company.
