“The value of a business is a function of how well the financial capital and the intellectual capital are managed by the human capital. You’d better get the human capital part right.” – said, Dave Bookbinder
Human Resource is the lifeblood of an organization. Today, the role of HR has diversified from traditional ‘hiring and firing’ to ‘strategizing and controlling’ the overall activities in an organization. As the role of HR has become more crucial than ever, managing HR activities and maintaining coordination among the employees has become more difficult than ever.
Organizations nowadays prefer to use tools and software to ease the process and keep employees coordinated, instead of merely relying on complex manual processes.
Wondering how an organization can make the HR operations more effective? Invest in a knowledge base system. Here are some of the reasons why this investment makes complete sense:
Centralized data management
Be it strategy formulation, policy making, training and development, hiring, managing benefits and compensation, employee satisfaction or setting safety standards, HR is the only department in an organization that enjoys access to every confidential data. But what makes HR an integral part of the overall organization structure? Well, it is the employee data that they have.
From educational background to the job description, HR possess every information about the employee and it is an arduous task to manage that information without fail. Having a knowledge base not only makes data management easy for HR professionals but also ensures that everything stays updated in a centralized location.
Recruitment becomes hassle-free affair
One of the core responsibilities of HR is hiring the right talent. HR plays a pivotal role from searching a suitable candidate to getting him onboard. When it comes to mass hiring the process becomes more complex for HR as there is a high probability of losing data and providing inadequate information to the newly hired candidates.
It becomes easier when you have a knowledge base in place. It can make this task easy by helping HR managers to save documents of all approached and hired candidates. An online knowledge base can maintain a proper induction manual without missing any important information. This will help save time because the authorized person won’t have to spend time on redundant tasks.
Cloud sharing ensure data safety
HR uses documentation to not just maintain records but also to communicate, analyze and evaluate employee performance. From brief emails to complex legal agreements, managing organization’s documentation is a monumental task. When an organization’s documents are managed efficiently, it enables other operations to run smoothly without any discrepancies.
A SaaS knowledge base enables employees to upload, share and manage documents easily in the cloud where it is secure and safe. It also helps HR to maintain confidentiality by allowing documents to be shared with only relevant people, which allows organizations to maintain a record for years without losing the confidentiality of the documents.
Organize training efficiently
As the success of the organization is directly associated with the skills and performance of its employees, training employees to tap their potential is extremely important. HR professionals are responsible for handling the entire training and development process.
It becomes tough when the HR manager is updated which employee requires which sort of training. But with the availability of a Knowledge base, it becomes easier for HR to ease this task by simplifying their coordination process with rest of the line managers. New hires can access the database and can revise the material if they have missed anything during the training session. This allows employees to share knowledge with rest of the people in the organization and promote the learning culture. An effective knowledge base makes this situation win-win for both trainer and trainees as it simplifies the hectic processes of training sessions, promotes internal coordination and minimizes the chances of errors.
Communicate organizational policies hassle free
Organization policies usually focus on the ‘dos and don’ts’ of the company to avoid mishaps and inconsistency. Formulating policies and strategies to effectively attain organizational goals is a challenging and cumbersome task performed by HR. Not just formulation, but the proper communication of these policies to keep everyone on the same page is important.
This problem can be addressed with the help of a knowledge base as it simplifies the task by allowing HR to properly update organization policies and also allows them to communicate these policies to everyone in the organization.
Manage financial information
Salary? Bonuses? Compensation plans? Yes, HR is also involved in these number-crunching activities. From the recommendation of market-based salaries to the development of overall strategic compensation plans, HR is present everywhere. Managing these big numbers without any discrepancies is a huge responsibility that HR has. One small error can lead to a great loss.
With a knowledge management software, HR can mutually share data and information related to the mentioned financial areas to avoid discrepancies and make the process smoother.
In today’s work scenario, the success of a business depends on a team instead of an individual. As social media and the Internet are playing as great field levelers, adapting updated technological changes for organization’s human resource management system is important to maintain a stronghold in this competitive world.
While the HR manager of an organization tallies up to 80 % of organization’s assets, it is important for a business to invest in a knowledge base software. The implementation of a knowledge base eases work pressure and maintains data confidentiality which eventually helps employees to improvize internal coordination and enhance productivity.
Download our eBook on Learning and Development Trends and find out how technology enables continuous learning in organizations.
Image licensed from Depositphotos.com