Tax Compliance with HRIS: What You Need to Know
Tax compliance with HRIS will surely lessen your burden during tax season by streamlining your processes. Read to know how!
March 22, 2024
As the business landscape continues to develop, organizations are recognizing the significant role that HRIS plays in managing the workforce. In the Philippines, HR management has come a long way. From the traditional paper-based HR procedures, businesses are now adopting HRIS to streamline HR processes, improve employee engagement, and facilitate data-driven decision-making. In this article, we will explore the Philippine HRIS trends in 2024 and examine how they will undeniably shape the future of the workforce.
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Human Resource Information Systems (HRIS) is a software solution designed to streamline and automate a wide range of HR tasks and processes altogether. These workloads generally vary from core responsibilities to mundane duties.
It can also serve as a centralized database, storing employee-related data. Such can include basic details like personal information and employment history, as well as more intricate data like performance evaluations and training records.
Nevertheless, the objective of an HRIS is to simplify HR operations, bolster efficiency, and enhance data accuracy within an organization.
The adoption of HRIS by organizations in the Philippines has been undeniably increasing in recent years. This surge can be attributed to the countless benefits it offers. Particularly, HRIS plays a fundamental role in ensuring tax compliance and managing different government forms.
As a result, organizations across different industries, including small and medium-sized enterprises (SMEs), now recognize the value of HRIS in HR management.
of course, Here are the philippine hris trends in 2024
overall, here are the philippine hris trends in 2024
Here are the Philippine HRIS Trends in 2024
obviously, here are Philippine HRIS Trends in 2024.
1. Adopting Cloud-based HRIS
Gone are the days of cumbersome HR processes that an HRIS, with weak infrastructure and limited capabilities, cannot support. Instead, cloud-based systems are taking center stage in 2024. Hence, these systems are gaining prominence for their scalability, accessibility, and cost efficiency.
In fact, several HRIS apps are now offering advance features, including self-service portals, real-time analytics, and seamless integration with other systems. This makes them significantly essential for efficient HR management.
To control issues regarding data privacy protection as well as online security risks, HRIS with cloud-based systems has implemented robust security measures. This can include encryption, multi-factor authentication, or others that ensure the safety of sensitive HR and employee data altogether. Others even use cloud computing platforms, particularly Microsoft Azure, to provide cloud services, depending on your needs.
There are also dedicated teams that will continuously monitor and update security protocols so you can steer away from potential threats.
2. Supporting Different Work Models
In the aftermath of the COVID-19 pandemic, there has been an overall big shift in focus towards work models. This, as a matter of fact, has led to a major reshaping of corporate structures. Consequently, companies are now customizing their workforce arrangements to maximize resources and accommodate varied work setups. When it comes to HRIS, there is the need to support diverse work arrangements, including remote, hybrid, and traditional.
Adaptability is important for organizations that want to maintain operational cohesion and ensure fair evaluations in diverse work settings. Thus, owners must adopt an HRIS that makes it easy for employees to access and manage work-related information.
Implementing an HRIS with these capabilities goes beyond just optimizing workflows. It creates a culture where employees take responsibility for their own professional development and performance altogether. Having these features allows professionals to actively seek out opportunities for growth and improvement. In turn, this leads to increased productivity, employee satisfaction, and success.
In essence, supporting diverse work models through advanced HRIS functionalities is not just a passing trend, but a strategic necessity in the evolving Philippine workforce landscape.
3. The DEIB Revolution
HRIS basically serves as the backbone supporting the implementation and continuity of Diversity, Equity, Inclusion, and Belonging (DEIB) strategies. Whether it is to monitor workforce demographics or ensure fair hiring practices, HRIS plays a big part in creating a positive workplace.
Previously, we have discussed creating diverse and inclusive environments that prioritize fairness and foster a sense of belonging for all employees. In 2024, the focus is revolutionizing DEIB efforts to ensure the company’s sustainability. This helps in attracting applicants and retaining talents, which is much-needed, especially by Filipino businesses that want to compete with big companies.
Furthermore, HRIS simplifies the collection and analysis of data that influences decision-making related to workforce diversity and inclusion. By utilizing the data, organizations gain valuable insights into their current DEIB strategies. This data-driven approach is needed for developing targeted interventions, addressing specific areas of improvement, and cultivating an inclusive workplace culture.
As the DEIB revolution gains momentum, the role of HRIS becomes even more crucial. These systems not only streamline administrative processes, but also help organizations participate in DEIB initiatives.
4. Leveraging HRIS Analytics
For years, HRIS was primarily used for basic administrative tasks. Today, organizations are harnessing the power of data analytics tools and techniques. Through HRIS, employers unlock valuable information pertaining to employee performance, engagement, and overall workforce trends.
Aside from that, HRIS guides businesses in making decisions in critical areas such as talent acquisition and employee engagement initiatives. In addition, through data analytics, organizations can identify the key factors contributing to employee turnover. This enables HR professionals to implement targeted retention strategies.
An HRIS can also help businesses identify areas for improvement and develop strategies to enhance productivity and job satisfaction.
Looking ahead, the future of HR management lies in analytics. By harnessing the power of predictive analytics provided by HRIS, businesses can gain predictive insights into future workforce scenarios.
5. HR Management with AI
There is no doubt that Artificial Intelligence (AI) is revolutionizing industries across the globe. In HR management, HRIS with AI-driven features is slowly transforming recruitment, employee onboarding, performance management, and even talent development.
The integration of AI into HRIS has also brought significant improvements in efficiency and accuracy across various tasks.
Moreover, the advent of AI-powered chatbots has made it easier for organizations to answer inquiries. Whether they are employee or applicant-related questions, these chatbots provide instant responses. This frees up the time for HR professionals.
This shows the shift towards an indeed more strategic HR management approach, which fosters an amplified level of professionalism and effectiveness within the HR field.
Additionally, These are the Philippine HRIS Trends in 2024
to clarify How Lift and Switch in HRIS Makes Tax Compliance Simple.
The Future of HRIS in the Philippines
It must be remembered that Lift and Switch in HRIS Makes Tax Compliance Simple.
The convergence of technology and human-centric approaches is, without a doubt, important in the HRIS landscape of the Philippines in 2024. To gain an advantage in your industry and cultivate a more fruitful workplace, you need to capitalize on these trends.
Whether you are contemplating the adoption of an HRIS for the first time or planning to upgrade your existing system, you must keep these trends in mind. More importantly, you need a dependable HRIS partner like Hurey to help you achieve your goals for the coming year.
Doing so will enable you to make informed decisions that will propel your organization towards success in the years to come.
By embracing these trends and advancements, organizations in the Philippines can fully harness the capabilities of HRIS to optimize their HR management processes.
on the positive side, Lift and Switch in HRIS Makes Tax Compliance Simple
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