Services - Industry overview and trend
In the current economic scenario, the Professional Services industry has to deal with a number of challenges. There has been a rapid change in the behaviour of the clients. Their demands have soared and they have become more responsive to the rise in prices. To tackle these issues and meet their complex demands such as reducing the delivery time to a great extent and providing a higher quality of the goods and services offered, the industry has to overhaul its workforce and make it more receptive to the consumers demand.The industry is now focusing on hiring employees who can address these issues successfully and provide initiatives that can help them not only in retaining their existing customers, but also in creating a large customer base by adding new clients on a regular basis.
The industry also has to deal with the issue of managing businesses in a uniform and in an easy way which is otherwise managed by incongruent systems. This acts as a hindrance in creating a uniform management system for measuring operational and financial performance. A unified view of things will help the industry survive in the competitive market which is increasingly becoming globalized.
The solution to all the aforementioned issues lies in innovation and efficient management of clients and create better delivery channels. This requires a talented workforce that can help the professional service industry in achieving operational excellence and achieve the goals and objectives. Thus, it has become very important that efficient workforce is employed, which will assist in revenue generation. Moreover, the industry requires a smooth HR management system that can offer a seamless integration of operational and financial systems.
Obligations of HR
TALENT ACQUISITION AND DEVELOPMENT
- Create a Human Resource inventory to address urgent hiring requirements at a short notice.
- Create and enforce flexible employment contracts which are linked with the profit generating business.
- Make a thorough assessment of liability and asset generation capability of the workforce.
- Perform the Training & Administration function through Job Rotation & Cross Training of employees.
- Pave a way for employees to enable them to grow and make optimum utilization of their skills and knowledge.
- Efficiently address the issues of a heterogeneous workforce, including, temporary, permanent and contingent.
COMPENSATION & BENEFITS
- Create a mixed compensation structure ranging from Flexi-benefits to client invoice based pay-scales.
- Automate the process of Time Management for staff and link the same to payroll/client invoice, including shifts and overtimes.
- Most importantly, link performance of employees to incentives/rewards.
- Efficiently address the complex issues of a diverse and a distributed workforce based on location.
- HR personnel have to provide Self-Service for Life Event Reporting of the employees.
- HR personnel should conduct employee satisfaction surveys which are very essential for retaining revenue-generation employees.
STATUTORY & COMPLIANCE
- Create a model of conduct for employees which will suit the requirements of the Services Industry.
- With the HCM On Cloud software, the HR department can manage the staff in a much better way by conducting audits and surprise checks on staff.
HCM On Cloud -Services Resources Planning Software
- Our Services Resources Planning Software helps in better management of workforce related to deputation , relocation and project rotation.
- With the software, HR managers can maintain a pipeline of Human Resource capital and create, update the records.
- The software has a HCM Time Management System which can be customized for all employment grades.
- The software helps the HR Managers in dealing with different employee types, including permanent, contract, site appointees.
- The software enables the automation of employee conduct and improve the Employee Relations processes.
- The software makes tracking of absence easier.
- With the assistance from the software, Talent Managers can clearly specify Human capital requirement on the basis of skills needed and the opportunities available.
- Bridge the gap between resource and demand across different projects on time.
- Make efforts to spot the best talent and recruit it to meet the requirements of the organization. For instance, the HR personnel can upload information when there’s a requirement of contract and contingent staff.
- HR personnel can make use of Competency Models available in the software, which can be used to define talent pools/demands by the domain.
- Create a 9 Box of talent to optimize performance.
- Create a behaviour model for process jobs which involve direct or indirect interaction with clients.
- Set up KPI at annual and project level for the creation of value-added jobs.
- Offers training administration process which enables users to set up the training calendar and the program. Employees can enrol for certification programs, monitor their attendance, and capture their performance and easily know their feedback.
- Talent managers can easily identify successful performers and provide them incentives all the while linking the results to Payroll.
PAYROLL AND BENEFITS
- The HCM on Cloud software complies with country-specific statutory requirements.
- The software is equipped to provide an easy compensation disbursal system linked to client invoicing.
- Our software solution is easily configurable and highly flexible in payroll processing and addresses client-specific Payroll requirements.
- The built-in engine can be optimally utilized to get quick results in payroll computations.
- The Services Resources Planning Software is comprehensive in nature and covers different functions.
- The software is easily accessible from mobile devices.
- Our software is embedded with easy-to-use interfaces, specific to common user roles. To facilitate a quick decision making process all the data is presented as a chart.
- The software is embedded with the pattern recognition feature known as Context Aware.
- The Employee Survey feature in the software enables employees to easily reach out to Talent Managers.