Page 43 - Banking Finance November 2022

ARTICLE

trainings, development of appropriate communication address such expectation in a more methodological and
system and creation of bond amongst the members and strategic manner through the proper and appropriate
selection of the appropriate performance evaluation usage of Human Resource Management System.
metrices.
Skills to overcome uncertainty
Reformulation of Employee Experience Pandemic has redefined the talent search for the
It has been a well-established fact that the employee's organisations who will now prefer in capacitating the
good experience with the organisation leads to existing workforce with the various tools required to
improvement of satisfactions level, enhances employee's gain the skills in overcoming the occurrence of
loyalty, enhancement of individual productivity, greater turbulence and uncertainty in future rather than
association in organisation's vision and ultimately attract the external talents. Artificial Intelligence and
improves the productivity of the organisation. The robotics are certainly going to play a decisive role in skill
prevailing orientation have established a bond amongst upgradation of the workforce.
the rise of automation and the employee experience
to illustrate personalized solutions and information for Required attributes of an HRMS
the workforce in a cost-effective and sustainable way. The motive of HRMS lies in addressing the above challenges
Critical HR practices now demand for more focus so that and converting data into relevant information for different
it can be improved and become more relevant for the
management level for effective decision making and
workforce of today as well as tomorrow. It has also effective conduct of job function while presenting the current
been proved that organisations may improve the information in a readily utilizable and easily comprehendible
employee experience if viable opportunities are
format. To meet these motives, the requisite attributes are:
provided to employees in the uncertain times to be to address the primary need of human resource
heard / provide feedback which may be acted upon.
management functions
to address the underlying problems and not just the
Mental Health gets due recognition
symptoms in a more scientific and logical manner
Pandemic has left a conspicuous percussion on the
to present maximum information with minimum data.
mental health. Surveys have revealed that employees
either feel depressed, work burnout or emotionally System output to be reliable and timely
drained. Besides providing adequate financial help, System output should contain sufficient and relevant
organisation have also adopted various means such as
information to minimize uncertainty.
deployment of licensed counsellors, organizing
To offer data security and personal privacy. Data
recognition programs, broadcast positivity messages
security can be dealt with in several ways including
etc. to uplift the mental health of the employees.
passwords and elaborate codes. In the present era of
Incorporation of such measures to tackle the mental
information, personal privacy is both an ethical and
health of the employees besides providing the analytics
moral issue.
for dashboard, scoreboard etc. would also be one of the
areas in Human Resource Management system.
There exists many HR management software in the market.
For eg: CORT - HRMS, HRSOFT, ORACLE- HRMS, Sapling,
Diversity, Equality, and Inclusion demands Eddy, Sage HRMS, VAIRKKO, People Book HR etc. In such a
more attention scenario it is imperative to design the evaluation criteria
With the gradual increase of Millennials and Gen Z in required in selecting the HRMS model best suited for the
organisation.
the workforce, organisation have encountered growing
apprehension on the matters of diversity, equality and
Evaluation Criteria:
inclusion amongst the workforces. The onset of
pandemic has further necessitated the organisation to For reaping the maximum benefit from the selected HRMS,

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