If you are in the processes of choosing an HRMS platform for your organisation, here is a list of must have features in any good HRMS solution.

HRMS features can be categorised in 3 segments

1. Talent management
2. Payroll management
3. Employee life cycle management

Features in talent management functions and its modules:

1. Manpower budgeting & planning
2. Hiring
3. On Boarding
4. Training management
5. Learning management
6. Performance management
7. Rewards & recognitions
8. Exit management

Payroll management functions and it’s modules:

1. Payroll & taxation
2. Claim settlements
3. Statutory compliances

Employee life cycle functions and it’s modules:

1. Attendance & leave management
2. Expense management
3. Travel management
4. Asset management
5. Exit management
6. Define HR processes (Joining, Induction, exits)

If you are looking for a long-long list of features, do look for these features–

1. Setting-up organisation structure
   Grades, department, designation, reporting manager
2. Set up of HR policies. Your HRMS should have a rule engine to take care of attendance, leave, travel, local expenses, salary structure…
3. Ability to configure HR practices & SOP’s
   (joining, transfer, warning, exits)
4. Candidate interview, CV status, CV repository
5. Employees details & documentation
   Letters, NDA, identify proof, background verification docs, health records
6. Joining process & induction
7. Training calendar & training feedback
8. KRA & goal settings
9. Appraisals
10. Rostering and s​​​​​​Shift management
11. Mobile attendance, preferably a mobile app
12. Biometric attendance
13. Leave types, OT calculations & comp-offs
14. Leave balances & ledgers
15. Travel itinerary & booking vouchers
16. Requests & approvals
17. Investment declaration
18. Loans, advances & adhoc payments
19. Arrears computation
20. Salary Slips & claim settlement
21. Government statutory compliances
    PF, PT, LWF, statutory bonus, gratuity, Form16, Q24
22. Bank statement, cost centre wise JV passing
23. Retirements, resignations & relieving
24. Assets inventory & statements
25. Notifications, broadcast, emails, SMS
26. Issuing of letters
27. MIS and HR Analytics
28. Dashboards
29. User management
30. Employee Self service
31. Mobile APP
32. API
33. SSO
34. Bulk data uploads and amendments

These are the features which any good enterprise HRMS must have.

It’s important to mention here that HRMS isn’t a product but a solution!

So, just taking the decision to choose an HRMS platform based on features alone isn’t advisable. Also take into account the HRMS provider’s service record. And their readiness and involvement in implementation of the software for your organisation.

Selection of an HRMS is a long term decision. If needed, talk to their customers, too.

Feel free to talk to us if you need any help.