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How Tech Companies Stay Competitive with HR Software

Technology

How Tech Companies Stay Competitive with HR Software

May 23, 2016 Mike Erlin

Australian tech companies are a part of the fastest growing sector in the modern economy. For a tech company to emerge as an industry leader, it must be both innovative and productive. Ben Heap of H2 Ventures has stated that the top 50 Australian companies mentioned in the Tech Pioneers Report will be the drivers of the future economy. This means that start-ups and small firms will soon be competing to earn top spots in the Australian tech industry. To win this race to the top, a company must find new ways to be productive and creative.

Since people are the ultimate source of ideas, firms need to optimise their human capital. To ensure that an entire workforce is focused on tech specialties, companies can use Cornerstone's recruiting software to mine tech networks and social media connections for the brightest stars in any given function. Tech startups can look to recruiting software for all of the following benefits:

  • Scale company to any size
  • Target candidates with specific skills and work styles
  • Streamline the application process & keep recruiters aligned with application tracking software
  • Compress the entire recruiting process into a single platform

Combine Recruiting & Performance Info for Better Workforce

Cornerstone's software can be used to find qualified candidates quickly. This allows small businesses to scale to a size that is appropriate for their rate of growth. Performance management tools may be used to further improve candidate selection. Since recruiting systems can be integrated with performance software, company leaders can see what candidate characteristics led to the highest performing employees and vice versa. This HR collaboration leads to growing efficiency in hiring, improved employee performance and reduction in turnover rates.

Hire Faster, Hire Collaboratively 

Companies waste time by diluting talent acquisition efforts across copious amounts of outlets and not communicating about applicants. By utilising the ever efficient application process of Cornerstone's HR software, companies can get back to work. The all encompassing hiring platform consolidates all recruiting efforts into one collaborative hiring hub so all recruiters can communicate about job applicants. The application process also allows the best candidates to showcase their talents through video interviews, mobile apps, and testing tools. The software does all of the heavy lifting, so firms do not need to waste valuable human capital on recruiting efforts.

Unify All Aspects of Workforce Management

Cornerstone's tools compile information about employee recruiting, performance, salary and succession plans into a single interface. This allows managers to understand all of the various aspects of their workforce management efforts as quickly as possible. Having this information at a manager’s finger tips makes delegating a much simpler process.

Benefits of Using HR Software                                         

Cornerstone's software allows tech companies to improve their working efficiency by taking control of tedious tasks that waste time and money. This allows all professionals in a firm to use their specialties to improve overall productivity. Over time, this translates to innovation and increased earnings.

One of the most powerful tools to help tech companies save time and money while also keeping employees motivated is the compensation software. This tool can ensure that all employees are paid based on merit, so productivity and company loyalty will increase. All compensation insights are easy to visualise and comprehend so compensation can stay transparent and fair.

Predictions for the Future

Ira Wolfe of Success Performance Solutions predicted that HR will adapt to a changing workforce in 2016. Since traditional human resources departments are struggling to reduce costs for start-ups, HR software is an ideal tool for companies that aim to find innovative professionals. Cornerstone's software can help small tech companies adapt to changes while maximising productivity. Ross Davies also hinted at the benefits of using Cornerstone's analytics software when he stated that it would become useful for small businesses that need to minimise costs.

Companies that can reduce costs with HR software will have a competitive advantage over firms who are relying on traditional recruitment methods. With the saved money and resources, Australian companies can develop new ideas and products that will help them rise to the top of the tech industry.

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About Mike Erlin
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