The HR industry in India is going through a seismic shift because of global competition, changing workforce demographics, and technological advancements. With businesses transforming into digital-first models, HR is the key to leveraging technology in solving worker issues, boosting productivity, and fostering creativity. Let’s discuss why Indian HR needs this shift to avoid falling behind in a world where everything is becoming more tech-centered.
Digital Transformation: The New HR Mandate
Technology is changing the classical roles of human resources by providing tools that make workforces quicker, more accurate, and more efficient. HR automation software leads this change, making processes streamlined and eliminating errors, making businesses more efficient. One such application that’s making leaps and bounds in the HR automation world is TankhaPay
Its automated payroll system leverages advanced payroll automation. This includes salary structuring, advance and reimbursement, and real-time processing. This means salaries will be paid on time without errors, reducing the workload of the HR team so they can focus on strategic work instead of administrative overheads.
This enables firms embracing AI and automation to change all their HR processes easily. For instance, AI-driven recruitment tools can make the hiring process much easier by reducing inefficiencies and allowing HR teams to make more informed decisions. This leads to better hires and quicker recruitment cycles.
Statistics indicate that the use of HR tech in India has been positive:
- Implementing HR tech in India saves Indian firms about 50% of payroll processing costs.
- Companies have also enjoyed an improvement of up to 60% in employee satisfaction levels due to the efficiency and accuracy introduced by automated tools.
TankhaPay: Revolutionizing HR Automation
One such application making giant strides in the world of HR automation is TankhaPay. Its payroll automation solution includes advanced payroll automation on salary structuring, advance and reimbursement processing, and real-time handling, thus paying salaries without error in real time. This would significantly minimize the burden of work for the HR team and make room for strategic work instead of carrying around administrative overheads.
This enables firms embracing AI and automation to transform all their HR processes easily. For instance, AI-driven recruitment tools can make the hiring process much easier by reducing inefficiencies and allowing HR teams to make more informed decisions. This leads to better hires and quicker recruitment cycles.
Statistics Supporting HR Tech
- Implementing HR tech in India saves Indian firms about 50% of payroll processing costs.
- Companies have enjoyed up to a 60% improvement in employee satisfaction levels due to the efficiency and accuracy introduced by automated tools.
Managing the Multigenerational Workforce
TankhaPay’s Leave & Shift Management feature allows customization for shift schedules and leave applications, creating a work-life balance that appeals to both younger and older employees.
Catering to Gen Z and Millennials
- Gen Z, who are essentially digital natives, like modern intuitive interfaces that allow for uncomplicated communication and self-service capabilities.
- Millennials require tools that simplify administrative tasks and provide insights into their performance and well-being because of their emphasis on work-life integration and career growth.
Research Insights
- As per TCS’s research, more than 60% of TCS workers favor hybrid work models which makes digital automation tools indispensable.
- Deloitte’s Insights indicate that 70% of Indian workers value flexibility and digital engagement tools, underscoring the need for HR to adapt to the preferences of a multigenerational workforce.
With TankhaPay’s automation capabilities, companies can more effectively manage these preferences, improving employee engagement and satisfaction.
Home Working and Work-from-Home Arrangements
The pandemic catapulted the demand for remote working, and one of the major challenges that HR departments faced was to manage remote teams.
The Role of Cloud-Based HR Solutions
Cloud-based HR solutions, like TankhaPay, ensure smooth communication, engagement, and tracking of individual performances for both office and remote staff.
- TankhaPay’s Employee Onboarding feature facilitates the fast integration of new hires into the company, building early engagement and a strong foundation with employees.
- Its HR Letters functionality allows essential documents to be created and distributed efficiently, improving overall efficiency.
Research Findings
- EngageRocket Research revealed that 40% of employees express dissatisfaction with the company’s processes, indicating a need for HR-driven transformation.
- The SAP India Study shows that companies using digital onboarding and self-service solutions report much higher employee engagement and satisfaction levels.
Upskilling and Retention
Retaining the best talent in today’s competitive market is challenging. TankhaPay provides automated tools to measure employee performance and implement targeted learning programs to keep employees constantly upgrading their skills.
Reports and Insights
- Infosys’s platform allows employees to take various skill development programs, helping reduce attrition by 20%.
- NASSCOM reports that more than 70% of Indian companies plan to invest in AI-driven learning platforms to future-proof their workforce.
TankhaPay’s detailed reporting helps identify skill gaps and develop targeted upskilling strategies, improving retention and workforce productivity.
Employee Experience: The New Strategic Imperative
Employee experience is emerging rapidly as a strategic focus for HR teams around the world.
Tackling Change Weariness
“Change fatigue” is a challenge faced by many employees. According to Gartner, 38% of employees feel fatigued by constant change.
- TankhaPay’s HR automation software assists employees through change by providing clear communication, automating administrative work, and enabling self-service capabilities that reduce the burden of change.
- Integration of HR automation systems like TankhaPay makes transitions easier, provides consistent updates, and improves the employee experience during times of change, reducing fatigue.
Key Statistics Driving HR Evolution
The impacts of HR automation are highlighted in statistical findings:
- Infosys reduced attrition by 20% through customized employee engagement strategies and automation.
- Capgemini reduced recruitment time by 30% using AI-based technologies.
- McKinsey reports that automation can reduce payroll processing time by up to 50%.
Future of Human Resources in India
As Indian businesses look toward the future, HR leadership must embrace human resource automation and technology-driven solutions to remain competitive. TankhaPay enables organizations to deliver more streamlined and engaging HR processes through automated payroll, attendance management, asset management, and employee self-service functions.
The future of HR in India is undoubtedly tied to technology. Innovation and implementing the latest HR tools will help companies attract, retain, and develop top talent while improving productivity and job satisfaction.
India’s HR leaders must adopt automation to thrive in an increasingly digital and fast-moving global marketplace.
