Importance of HRMS in Retail industry

Retail is the process of selling consumer goods and services to customers through multiple channels of distribution to make profit. It is the combination of activities involved in selling or renting consumer goods and services directly to ultimate consumers for their personal or household use. In addition to selling, retailing includes such diverse activities such as buying, advertising, data processing and maintaining inventory. Retailers satisfy demand identified through a supply chain. With the born of new forms of retailing, competition is also increasing between them. It is one of the fast-growing and challenging industry.

  • High Turnover: In Retail Industry employee turnover rate is extremely high. This implies employees routinely come and go which incurred several challenges. Training and developing are time consuming and the company have to frequently recruit and hire new employees. It is also more difficult to build customer loyalty if customers keep seeing a new face every time, they enter store. Voyon Folks Talent Acquisition helps the human resource to simplify the employee turnover in an efficient manner. It helps to reduce monotonous activities from recruiter’s side and candidate's side. Voyon Folks Talent Acquisition service offers a beautify career page for candidate’s access and it is also very easy to handle. At the same time, it also helps the candidates to apply directly from career page.
  • Workforce Management: Managing a workforce has always consistently elaborate the wide range of different roles and responsibilities. Employers are currently liable for their representatives, so their duty of care has widened. Voyon Folks Workforce Management service facilitates various processes involved of integrating a new employee into an organization, guaranteeing consistent change from a person from a planned possibility to a representative on the roles and deals with the whole lifecycle thereafter till separation of the employee from the organization.
  • Payroll Management: Payroll represents a sizable part of any retailer's working financial plan that demands attention to detail. Sales associates who punch in a few minutes early for meal breaks could swell finance cost over the long haul, while not tracking vacation and personal days taken could lead to overpayment. Since many retail locations are open on siestas, HR deals with premium pay policies and must budget accordingly. Voyon Folks Payroll service allows you to manage various types of leave and stores all leave related data of employees in a centralized location. It also allows you to configure specific rules related to leave which is appropriate for your organization. It also helps to sort out the negative salary, auto adjustments policy etc. Payroll finalize pay slip protection password and payroll period closing, these are the main elements in Voyon payroll management. It is the fully integrated payroll processing system.
  • Employee Self Service: In Retail Industry most of the HR activities are done manually which includes attendance, leave, recording etc. But it is the time to change all activities into systematical form. Voyon Folks Employee Self Service enables employees to access directly to their employee portal for applying leave, checking attendance. By allowing employees to directly access to their employee portal, ESS save valuable time and effort of HR team. In ESS we have various option like Employee Profile, Shift Swapping, Claim Settlement, TDS declaration, Attendance Regularization, Employee Referral Program and Project Time Sheet.