Page 44 - Banking Finance November 2022

ARTICLE

organisation may ponder upon some of the following inculcate employee's acquaintance within the
evaluation metrices: organisation and provides a better picture of the
Value for money: The selected system must justify its internal reciprocity between employees. As it deals with
price to features, capabilities and utilities being human network, proper analysis may result in more
provided. coordination leading to effective response and output.
User Interface (UI): The system should provide the Continuous Performance Management
relevant information in a clear, well organised, and
System
easily searchable manner to its users
Until recent past 360-degree feedback was a common
Usability: The system should be easy to learn and terminology in performance evaluation. Organisations
master. It is very important for the organisation to make are gradually inclined towards the continuous feedback
available the associated technical support, user support, loop wherein the development inputs do cater to the
training etc. to garner maximum benefit. current trends of virtual workforce and distributed teams.
Features & Functionality: With a proper vision for
Evaluation of new skill sets
growth, scalability and flexibility of the chosen system
The emergence of new skill set assessment of the
is vital for the organisation
employees incorporates digital skills such data analytics
Engagement Tools: In addition to performing the typical and digital literacy; critical thinking skills such as
elements of HR process such payroll, leave strategic thinking and conflict management and soft
management etc., the system should perform above skills like emotional intelligence and creativity. The
and beyond, in order to provide ways and means for Human Resource Management System may thus have
employee engagement, satisfaction gauge, and culture an inbuilt module capable for assessing these skills of
development and may involve a built-in learning the employees right from the stage of onboarding
management system. throughout the different career development stages.
Further, it may generate insights and reports for the
Reporting and Analytics: The system should provide
organisation regarding suitably upskilling the required
real-time and actionable insights using the available
data. The generated reports should be customizable and skillset deficient amongst the employees.
easily exportable.
Congruence of Artificial Intelligence and
Integrations: The system should be integrable with the Machine Learning
other existing systems and provide ease of transition in
It is expected that AI based algorithms conjugated with
the future. cloud computing is going to serve as a decisive factor in
streamlining the various HR functions related workflow.
Future traits of Human Resource Congruence shall span over a wide range encompassing
onboarding, integration, employee training,
Management System:
The HR functions are gradually shifting towards
organizational efficiency and predictive analytics. The
approach involves a paradigm shift from tactical to strategic.
Presently Human Resource is being associated with strategic
planners in the organization The emerging trends in HRMS
visualises the transposition of transactional HR to chatbots
and further automation in the various functionality.

Emanation of Relationship Analytics through
Organisational Network Analysis
Social networks prevalent within an organisation helps

44 | 2022 | NOVEMBER | BANKING FINANCE