The sudden outbreak of covid-19 pandemic and its ongoing challenges has challenged the world around us significantly. With social distancing, hybrid work culture coming into practice, organisations across industries are making pivotal modifications in their Human Resource management strategies. To understand how employee management and payroll is changing in the recent times, in sync with technology, Elets News Network (ENN) interacted with Dheeraj Kumar Pandey, Chief Advisor for HR Systems and Processes, Keka Technologies.
1) Please explain the HRMS industry portfolio in the post pandemic world
In the post pandemic world, people and processes have become more aligned toward business goals and their outcomes. Organizations today are increasingly understanding the necessity and vitality of an efficient HRMS to scale and achieve these targets. As such, we have observed a much wider adoption of digitalization since the pandemic hit.
Moreover, the role of HR has also transformed- From an operations-concerned entity to a strategic business partner that takes a seat in the leadership room. As the HR’s task list and power has grown over the past couple of years, we can safely say that the future of digital transformation is in safe hands. As for the present, adoption of HR software is witnessing a sharp rise and we expect the trend to continue. This is due to the ease, simplicity, efficiency, cost-reductions, freedom and safety it offers.
2) When and why should any startup invest in HRMS?
As a growing firm, startups need to manage their funds in many creative ways. Many of these are constrained by the company’s available funds to invest. Concerns around finances stop them from investing in an HRMS. However, it provides endless advantages for startups- the correct recruiting procedure, effective payroll, quick onboarding process, good staff, etc.
Moreover, startup founders usually have multiple hats to don- managing the product, monitoring sales, serving customers, meeting investors and more. However, if they focus only on the management of employees, the organization is likely to die sooner or later.
An HRMS helps a startup to stand firm on its feet, becoming more flexible, dynamic and versatile. It automates the majority of employee management & engagement practices, allowing HRs or leaders to focus on what matters most- Scaling the business. From employee recruitment and onboarding to performance management and from HR compliance to complex payroll calculation, everything can be done with the click of a button with an able HRMS, taking a chunk of workload off the shoulders of startup founders.
Its performance management feature also paves way to track talent as the company grows. We know how employees in startups often do a variety of roles in the initial days of the business. An HRMS lets leaders track these tasks, skills, and competencies so that they are ready to use these established talents as the business grows and to train future workers. Over time, the talent data serves as a resource pool, to provide succession planning and ensure that the top performers are recognized.
Early investment in an HRMS lays the foundation for startups’ future HR operations by enforcing standardization in the data elements and pre-delivered processes, pages and configurations. In simpler terms, HR software is essential to help businesses thrive and not merely survive.
3) Please explain the role of HRMS in dealing with great resignation?
A mighty wave of resignation washed up the shores of several business houses post pandemic. Employers were busy trying to hit their organizational goals, and forgot to pay attention to employees’ woes; until employees did that themselves. Gartner notes that employees are now more aware than ever. They seek personal value and a sense of purpose at work. Give them that, and you can keep a second Great Resignation at bay. Easier said than done? Technology can be a great support system for this. Start with listening to employees. Conduct ‘stay interviews’ instead of ‘exit interviews’. Use pulse surveys, schedule one-on-one meetings, ask for anonymous feedback and more through HRMS portals. Focusing on employee wellness is another good way. Attendance records and performance charts can help recognize an otherwise good performer’s unachieved targets and high absenteeism. This lets you understand what’s bothering them, even identify burnout at early stages and provide help accordingly to prevent them from taking the exit route.
4) What is the importance of performance management technology for employees?
Technology brings to the attention of employees the progress of various goals to be achieved and in turn, drives their efforts towards it. Visibility of recorded one-on-one meetings and notes in performance management system creates enhanced trust of the employee in the organization, paving way for transparency. Continuous feedback mechanism fosters a culture of appreciating each other’s work. Compliments can be given and received from anyone in the organization in the form of praise & special badges, increasing employee satisfaction and experience. A PM system also helps workers keep a constant check on their goals and targets, assess them periodically, review whenever required and get immediate feedback.
Moreover, we know that bias is still somewhere a part of businesses. As performance will be recorded by artificial intelligence and performance trends will be generated solely on the basis of an employee’s work, no employee will feel that the system is partial towards the other.
5) How is Keka disrupting the industry?
The key behind Keka’s rapid growth in the last 5 years was the efficiency it offered opposed to the clunky interfaces that the other software companies owned. India was witnessing this kind of software that stood on par with international entities for the first time. The company opened a window of possibilities for organizations who were struggling with their HR needs and couldn’t find a software that best matched their unique necessities.
The propellant of the company is its software that was co-created to suit all sized companies having different requirements, ultimately making it a one-stop solution for every HR need.
Today, it offers a variety of features for companies to focus on their employees, leaving cumbersome activities of the HR domain to Keka. Making complex arenas like payroll, performance management, attendance and several others easier to work with, Keka’s implementation helped organizations gain traction in their domain while bringing value to the nation.
Keka disrupted the HR industry by changing the perception of the Indian HR fraternity- from an administrative help to a strategic partner, from a cost centre to a revenue producer. It is on its journey to break the stereotype of an HR in the community and the human resource world and bring the much-needed revolution with its array of modules & practices.
6) What are your future plans (in terms of expansion, growth, funding)?
Keka is aiming for a new goal- global expansion. Their end mission is to take the world by storm and leverage the potential they hold by entering the bigger space with their Indian roots. They are aware of the intricacies of the HR arena and identify Keka as the medium to tackle each problem of the field as it comes. With this confidence, they are inching towards their journey over the world, aiding ceded companies to embrace the HR sphere with the simplicity of Keka. The full-fledged growth plan is on its path towards execution as Keka leaps into the American and South East Asian market.
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