BONUS 10%Use Discount Code: "CONTENT10" & get 10% extra cash on the wallet recharge of  $100 or above.
Geetz - Freelance Writer with 1 Reviews
Geetz
38 years old
5.00
from 5 by reviews
1
completed
orders
0

in progress
0.023
per word
Writer from India

Metrics

100 %
acceptance
rate
This metric depicts the ratio between the orders accepted by the client and the number of orders sent back for revision by the client. Where 100% shows complete acceptance; Low percentage shows more number of revisions.
0 %
0 orders
repeated
This metric shows the percentage of repeat orders assigned by the same set of Clients to the writer. Higher ratio indicates the higher trust & satisfaction level of clients.
100 %
delivered
orders
This metric shows the orders acceptance ratio by the clients after completion.
slow
response
time
This metric shows response of the writer, which is calculated based on the time taken by the writer:

1. To place bid on any order from the time of order publication

2. To respond to the personal assigned orders

3. To place bid on the invited Orders

4. To confirm the awarded Orders

5. To reply to the client's first message

N/A
timely
orders
This metric shows the percentage of orders delivered within time (starting from 04.09.2017). Higher ratio indicates more careful compliance with deadlines by writer.
Expertise 6
The writer holds expertise in these spheres. Icons with a confirmed status, assure that the writer has cleared those industry specific test and has uploaded three specific industry-based samples in their portfolio.
Technical
Not confirmed
Business
Not confirmed
Kids/Parenting
Not confirmed
Travel
Not confirmed
Resume
Not confirmed
Entertainment
Not confirmed

Experience

No experience

Writing languages 3

English Intermediate

Hindi Not confirmed

Telugu Not confirmed

Categories 4

Web Content

Article

Creative

Editing

Education
2000 – 2002
KJ Somaiya Institute Of Management Studies and Research
1997 – 2000
Institute Of Company Secretaries of India

Copywriting level

Standard level

About quality level

About me

Read more

Portfolio

CLOUD-BASED HRMS – MARKET ANALYSIS AND TRENDS

Introduction Human Resource Management System (HRMS), also referred to as Human Resource Information System (HRIS) is a software application that combines various Human resource (HR) processes on one hand and the Information technology on the other. These HR processes include Payroll, Onboarding, Performance appraisal, Recruitment, Talent Management, Benefits Administration, Employee Database, Attendance and Analytics. Functionality of HR Software applications on the Cloud: Deployment Options: There are two deployment options available for the companies. These are On-premise deployment and Cloud-based deployment. Corporates evaluate both the options based on various parameters like the expenditure involved, both capital and revenue, time taken for deployment, user interface, system updates, data secrecy, hardware equipment and human personnel required for maintaining various HR processes, etc. In the last decade, there has been an increasing demand for the Cloud-based HR software. This can be attributed to the various advantages companies see in implementing the same. Some of the benefits are enlisted hereunder: 1. Reduced capital expenditure – On-premise HRMS solutions require a huge initial investment to purchase and manage the software and related hardware equipments, servers and the allied facilities to run the same. On contrary, in the cloud-based HRMS, initial costs are typically much lower as it only involves the implementation of the existing software with customization wherever required. There is no investment in the hardware. 2. Lower administrative expenses – There are huge costs involved in the On-premise HRMS solutions with respect to the maintenance of the servers, hardware, upgradation and training the IT staff. Such costs can be evaded by adoption the Cloud-based HRMS 3. Rapid deployment – The speed of deployment of the Cloud-based HRMS is much faster. It would take around 3-6 months for the implementation cycle as against the 12-month implementation cycle for the On-premise solutions. This speed can be attributed to the time gained by not hunting around for the various hardware equipments required, planning and budgeting for the same. 4. System upgrades and enhancements – These become relatively easier in the cloud based HRMS as against the same in the On-premise HRMS. This enables the client to use upto date software solutions available in the market. 5. Data storage – With the Cloud based HRMS, data is stored externally with a third party while in the On-premise software, and data is stored in the company’s server. The running expenses for the storage of such data are very minimal. 6. Internal Infrastructure – Cloud based HR software can be implemented and maintained using minimal internal infrastructure as opposed to huge infrastructure requirements like servers, hardware equipment etc in the On-premise software applications. 7. User Interface - Better user experience for all the employees and the present day, companies are looking at accessing the HR applications from even the mobile phones. The deployment preferences of the customers vary from industry to industry. A survey conducted by Softwareadvice recently showed that among all the industries, there is an increasing trend of Cloud-based deployment of HR applications. Following chart depicts the industry preferences of cloud-based deployment of HR solutions over the years. Cloud Deployment Preference by Industry, 2011-2014 Source: www.sierra-cedar.com The current year has observed a drastic increase in the number of cloud-based HR solutions. As of now, 50% of the present year purchases and implementations of HR solutions are Cloud-based. Recent survey report by Sierra-Cedar, published in October 2015 highlights that Payroll and Workforce Management are the two stumbling blocks to the HR technology transformation efforts. HRMS players in the market: There are numerous HRMS vendors in the market. Each of these vendors provides software solutions for single, some or all of the HR practices. Following table depicts the list of the top companies providing HR software solutions and the main HR processes for which they provide software solutions. A survey has been undertaken by Apps Run The World in September, 2015 among various HRMS vendors in the market. Various HRMS vendors have been ranked based on the revenues generated, market share and the number of customers. Following vendor ranking table is an extract from the survey report. Companies to watch out for in the year 2015: Though there are various players in the HRMS market, following are the two companies which need a special mention due to immense progress they have done in the last couple of years: Zenefits – Incorporated in the United States of America, Zenefits provides a mere interface between the client and the third party vendors. The company’s software helps the clients particularly with their health insurance coverage. It is awarded the fastest growing company in the Silicon Valley in the year 2015. The revenues of the company in the year 2014 were $20Mn, which is a twenty percent increase over the previous financial year. BambooHR–A cloud based HRMS firm offering solutions to small and medium enterprises with employees less than 1000. This company has its client base in over 70 countries. It helped a transformation of the HR records from a mere spreadsheet to a true HRMS system. The company offers software solutions for various HR processes like Absence Management, Benefits Enrolment, Employee Self Service, Manager Self service, Time and attendance, Training and skills, Vacation and Sick leave, Workforce Analytics. These can be easily integrated with other payroll and benefits applications. Market trends Following are some of the trends in the industry: As per a report published by Gartner, by 2017, 50% of the Corporates would move to Cloud based HRMS as against On-premise HRMS. 1. Consolidation among the various vendors providing HRMS – The talent management software consisting of recruitment, learning and development, performance management and compensation has seen a sudden boom in the early 2000s. Many small time vendors like SuccessFactors, Taleo, SumTotal, Saba, Plateau, and CornerstoneOnDemand have started to grow rapidly. It is then that the big players in the market started to feel the heat. Then started the major consolidation in the market. Many such start-ups and small vendors have been taken over by the giants in the market. A few examples to such consolidation are: a. SAP acquired SuccessFactors – SAP had existing HR software solutions, but they were integrated in the ERP solutions of the company and were not very well known with the HR Managers. Further, they did not have any talent management applications. They have, therefore, acquired SuccessFactors. b. Faced with a serious competition threat by the SAP acquisition of SuccessFactors, Oracle had no option but to acquire the next best player in the market in the Talent Management applications. It, then acquired Taleo. Taleo had already integrated with PeopleSoft by then. With this acquisition, Oracle has developed a huge customer base of already existing customers of PeopleSoft and Taleo. It has, therefore, become the market leader by the customer size. c. Salesforce.com integrated with Rypple 2. Human capital and talent management are one of the key challenges for the organizations. HR software solutions are no longer targeted at maintaining the employee database and employee performance and related data. Instead, they are targeting the talent acquisition and talent management. 3. Use of HRMS for big data analytics: The next big thing and a must-have for any organization in the present day is this HR tool on ‘Predictive Analytics’. Narrated hereunder, are some of the examples of how predictive analytics can be implemented to give best results in the organization: a. Predict the employee turnover and plan the recruitment activities accordingly – In the traditional recruitment process, the recruitment process actually starts after a position becomes vacant. But, the predictive analytics HRMS tools actually predict the positions that may possibly become vacant for reasons like lower increment, change in the marital status, better opportunities in the market, promotion-related, etc. The recruitment process can start simultaneously without any time lag. By adopting this method, the prospective employee would be ready to take up the new assignment the moment it becomes vacant. There would hence be no time lag in the recruitment process. b. The analytics tools can also be used to better analyse the employee feedback forms. The organizations can thus gain deeper insights and develop better strategies on workforce deployment, process improvements, etc. and in turn ensure employee satisfaction and morale. c. Analytics tools can also be used to analyse the employee absenteeism. The reasons for absenteeism can be analysed vis-à-vis employee working hours, demographics, role and nature of work of employee, etc. The results can be useful in formulating the future strategies. 4. Integrating the HRMS with the social media: Companies are looking at integrating the HRMS with the social media. By doing this, the employee data on the social networking sites that an employee is active on, gets integrated with the HRMS applications of the organization. Such integrations come with many benefits, for example there is a scope for new contacts which would help in the referral and recruitment process. 5. The core objective of present day HRMS is shifting from a mere data management to employee engagement 6. With an increased use of smart phones, User interfaces are necessarily becoming sharp focus of the organizations. The idea behind this is to create an ease of using various HR applications by the employees with a simple internet connection. According to Gartner, atleast 50% of the CXOs of the top Corporates are looking at having Mobile HR interface developed by 2017. 7. Consolidation of various HR processes or systems. According to a survey by Forbes, only 13% of the organizations have a single HR system. On an average companies currently use about 3-4 HR solutions for various processes like learning and development, recruitment, time and attendance maintenance, etc. Emerging Trends in the HR Technologies 1. Gamification of applications, the new buzz-word in the HRMS, where, the Game-design mechanics and techniques are used to motivate the employees in the non-gaming scenario. These are majorly used in the wellness programmes, employee surveys, incentives and social responsibility. Gamification makes the policies and practices fun to adopt. Most of the corporates are looking at the gaming tools for talent management. Companies are already implementing ‘gamified’ recruitment and learning and development applications. 2. Wearables Technology – using a technology wherein the data is captured by the wearables used by the employee in the workspace. Employer may use this data to capture details regarding employee fitness, workforce time tracking and scheduling, etc. 3. Social aggregation tools – these are the tools that employers use to check the activity of the employees on various social networking sites like twitter, LinkedIn, facebook, etc. At present, not many organizations are looking for these tools, but this may be an important analytics tool in the near future. 4. Fatigue management – This is a tool targeted at industries like airlines and transportation. 5. Use of Robotics and Artificial Intelligence in the HR practices Points to be considered by the leadership team for choosing and implementing the cloud-based HRMS vendor: 1. Has sufficient research been done on the organizational appetite for a transformation from On-premise HRMS to the Cloud-based HRMS? 2. What are the processes that need to be transformed to Cloud-based HRMS? Single, few or all? 3. What is the user experience that the organization aims to achieve at the end of the process? 4. What are the investment budgets? 5. What is the expected outcome of the whole transformation? 6. What are possible roadblocks for implementation of the new system? 7. Are the back-up strategies or contingency plans designed to overcome possible roadblocks? 8. What are the various steps proposed to be taken for a smooth transition or change management among the employees? Conclusion The HRMS vendors in the market are widely adopting the SAAS deployment method. This gives the customers an ease of implementation. Future updation and upgradation also becomes easier with SAAS. Further, such applications can be easily accessed by the HR staff and also the employees of the organization from any device which is connected to the internet. The applications can be customized to suit the customer requirements. Nevertheless, these customizations may sometimes be very limited depending on the application and customer requirements. References: 1. http://www.sierra-cedar.com/wp-content/uploads/sites/12/2014/11/Sierra-Cedar_2014-2015_HRSystemsSurveyWhitePaper.pdf 2. http://www.sierra-cedar.com/wp-content/uploads/sites/12/2015/10/PR-2015_SurveyWP-Release-102115.pdf 3. https://www.appsruntheworld.com/top-hcm-applications-vendors-in-the-cloud-and-market-forecast-2015-2019/ 4. http://www.hrmsworld.com/vendor-directory-report-24.html 5. http://marketing.bersin.com/ten-disruptions-to-hr-technology-in-2015.html 6. http://www.forbes.com/sites/joshbersin/2014/10/15/the-top-ten-disruptions-in-hr-technology-ignore-them-at-your-peril/ 7. https://en.wikipedia.org/wiki/Zenefits 8. http://joshbersin.com/2015/06/oracle-gains-momentum-in-the-hr-software-market-a-story-of-patience-and-focus/ 9. http://www.hrmsworld.com/hr-clairvoyance-using-predictive-analytics-to-take-your-hr-process-to-the-next-level-1237.html 10. http://www.rapidvaluesolutions.com/driving-people-performance-using-self-service-mobile-hrms/ 11. http://www.hrmsworld.com/three-hr-technology-trends-established-twentyfifteen-1419.html

Client Reviews

5
AmolShinde

Nov 24, 2015 05:48

It was awesome. I think sangeetha delivered exactly what I was looking for . Well job done.
White Paper