The RBI has launched a new improved module of their Human Resource Management System and this is known as the HRMS 2.0. This system aims at the simplification and the automation of several general areas of human resource management for the employees of Punjab national Bank (PNB). In the course of the present article, the components of the framework and the advantages of the HRMS 2.0 for the PNB human resource will be also discussed.
Key Features of HRMS 2.0
Employee Self-Service Portal: HRMS 2.0 has a web-based component which allows the user employees to input and review their data, Short/long term leaves, attendance details and HR transactions. This does away with paperwork thereby cutting down the workload being accorded to the bureaucracies of the Human Resources department.
- Online Leave Management: Employees are also able to apply for leave and follow its status online, meaning that there is organizations approved leave. This has the added advantage of affording managers the opportunity to go through and either approve or reject leave applications in record time.
- Attendance Tracking: Self roller: In the attendance management, HRMS 2.0 hooks up with biometric devices or any other attendance tool that can track attendance automatically. This gets rid of the traditional ways of recording attendance since payroll data can be recorded in real-time.
- Payroll Processing: The system facilitates computation on the payroll including the salary that is due to be paid, any deductions, and statutory emoluments. This helps in avoiding some mistakes and also makes sure that salaries are disbursed on time is achieved.
- Performance Management: Performance appraisal and goal settings are integrated in the product called HRMS 2.0. It enables the employees work on setting their goals, monitoring the amount of progress they are making and also get feedback from their managers. This assists in both assessing highly performing employees and workers or sections of the business and those that require change.
- Recruitment and Onboarding: The system is extremely flexible and can be applied for the recruitment process including, advertising of the vacancy, shortlisting of candidates. It also has a feature that helps in the formulation of human resource on boarding since it gives new employees the necessary information and documents.
- Training and Development: In essence, HRMS 2.0 can be used for tracking of employee training and development activities. It is used in measuring training requirements, fixing training plans, and evaluating staff performance.
Benefits of HRMS 2.0 for PNB Employees
- Increased Efficiency: Human Resource Management System 2.0 means that many of the human resource processes are handled by computer applications, and thus require less time to complete. This is helpful since it leaves the HR departments with more strategic work to do.
- Improved Accuracy: It also checks entry and processing of data thereby minimizing mistakes in the payroll, employee attendance among other human resource information.
- Enhanced Employee Experience: The self-service portal is a neat invention, which gives easy access to employees and also cuts short the paperwork. This in turn enhances the general perception which the employees have concerning their company.
- Better Decision Making: The second capability of HRMS 2.0; real time data and analytics are made available to HR departments to enable them make other sound decisions about certain business strategies.
- Cost Savings: Painting a picture of what HRMS 2.0 will do to PNB, it is evident that through the automation of HR-related processes, costs related to manual paperwork will be cut.
All in all, this work has demonstrated the utility of HRMS 2.0 for PNB employees. They make human resource management easier, more effective, precise and better for employees. Thus by optimizing the utilization of the main functions of HRMS 2.0 PNB can develop the human capital of the organization.
