Moderntechnology has a great impact on how businesses are conducted. Thistechnology helps in making decisions on how to divide the salariesamong the workers. Since different workers have different skills,modern technology enables the management to assess these skills andmake a decision on the amount of salary to get. Technology alsoconnects different business together which helps in sharing ofinformation. During the connection, a company can be able to identifythe amounts of benefit charges by various business organizations andthus be able to determine on what to charge. Modern technology allowssharing of information within a short period, for example, throughemail. Due to this speed, the Human Resource department can be ableto adjust the payment plans within an organization within a shortperiod.
Managingthe employee’s compensation is of great impact to a company sinceit helps the company in ensuring proper use of resources. Managingthe compensation assists an organization in using the resources asper the budget. By stating in the budget, business projects willalways be completed on time and without incurring any additionalcosts. Also, managing the compensations help in preventing turnoversin a business organization. For example, preventing a case where anew employee is given initial starting salary and continues to lookfor another job even after getting a job in your company.
Anexample of HRIS is E-compensation which is a technology that involvesthe use of intranet and internet to plan the compensation process.E-Compensation is used by managers to design, implement as well asadminister the payment process. This kind of technologicaladvancement has significant impacts on a business organization as ithelps reduce the administrative cost, response time, improve thedecision-making process as well as improves the provision of servicesto customers.
Hendry,C. (2012). Humanresource management.Routledge