India’s real estate market has grown significantly in recent years. However, being such a vast and dynamic sector, companies struggle to find and keep top personnel as the industry becomes more and more competitive. The management of human resources has become increasingly important in this changing environment for attaining organizational success.
Efficiency and organization are crucial in the ever-evolving real estate industry. From property management to client relations, every aspect of the business demands precision and attention to detail. However, one often-overlooked area where efficiency can be vastly improved is Human Resource Management.
To know more about the challenges this sector faces, let’s try and explore it.
When it comes to employee details, attendance, and payroll, real estate companies struggle to cope, but automating these processes using HRMS Software (Human Resource Management System) can help simplify everyday HR tasks.
According to the PricewaterhouseCoopers Today and Tomorrow poll for the World Federation of Personnel Management Associations (WFPMA), 48% of the HR professionals surveyed believe that management policies must change in real estate companies.
The Real Estate HR Challenge: A Complex Landscape
Real estate companies, whether dealing in residential, commercial, or industrial properties, face unique HR challenges due to the dynamic and multifaceted nature of the industry. Some of these challenges include:
1. Employee Details Management
It may be challenging to manage a varied team with a range of positions, responsibilities, and credentials. Businesses in the real estate industry must keep detailed employment records, including information on each employee’s identity, credentials, and experience.
2. Attendance Tracking
For real estate companies, especially those with on-site workers, keeping track of attendance is essential. Manual attendance monitoring takes a lot of effort and is prone to mistakes, which causes inaccuracies in payroll and inefficiencies.
3. Payroll Complexity
Permanent and contract workers are frequently mixed in real estate enterprises, and each has a different set of benefits, incentives, and deductions. Payroll management software may become a Herculean undertaking due to its intricacy.
4. Compliance and Regulations
Like many other businesses, real estate is governed by labor laws, tax laws, and compliance rules. To prevent legal issues, it is crucial to ensure that HR procedures comply with these rules.
5. Scalability
Many real estate businesses go through periods of fast expansion or seasonal personnel variations. It can be difficult to control this variable effectively without sacrificing HR quality.
The HRMS market has many players helping businesses cope with their daily HR processes and management. But, a SaaS-based user-friendly HRM Software that easily gels with your existing business system is unique. The software also comes with three other software that help organizations stay ahead of the curve. I’m talking about the automated, cost-effective, and dynamic HRMS Software – Unistal HRM Mitra. It comes with 3 other highly effective modules – Employee Productivity Monitoring Software, Task Management Software, and Asset Management Software. These help streamline the workflow, enhance employee efficiency, and effectively manage all the company’s assets with ease.
Unistal HRM Mitra: Empowering Real Estate HR Management
Among the prominent HRMS players in India, HRM Mitra stands out for its robust features and ease of use. Here’s how you can revolutionize HR management for real estate companies:
1. Comprehensive Employee Records
This HRM Solution provides a centralized platform for managing employee details, ensuring that all essential information is at your fingertips. From contact information to certifications and qualifications, you can easily access and update records as needed.
2. Automated Attendance Management
Say goodbye to manual attendance tracking. The software’s attendance management module simplifies attendance tracking, whether your employees are on-site or remote. It also offers real-time attendance monitoring for greater accuracy.
3. Hassle-free Payroll Processing
HRM Mitra automates complex payroll calculations, including incentives, deductions, and taxes. It ensures that your employees are paid accurately and on time, reducing payroll-related errors and disputes.
4. Compliance Made Easy
Staying compliant with labor laws and tax regulations is effortless with HRM Mitra. The software automates compliance checks, helping you avoid legal pitfalls and penalties.
5. Scalability and Flexibility
The software is highly adaptable, making it suitable for real estate companies of all sizes. Whether you’re a small agency or a large corporation, the software can scale to meet your HR needs.
Implementation and Integration: A Smooth Transition
Transitioning to HRM Mitra is a seamless process. The software is user-friendly, and Unistal provides excellent support throughout the implementation phase. It can also integrate with other systems you might be using, such as accounting software or property management systems, to create a unified and efficient workflow.
Conclusion: Elevating Real Estate HR Management
In the competitive world of real estate, efficiency, accuracy, and compliance are non-negotiable. HRM Mitra by Unistal offers a comprehensive solution to overcome the unique HR challenges faced by real estate companies. With streamlined employee details management, automated attendance tracking, effortless payroll processing, and built-in compliance checks, empowers real estate businesses to focus on what matters most: building lasting relationships and delivering exceptional services to clients.
Make the smart move today by embracing HRM Mitra and taking your real estate HRM Solution to the next level. Streamline operations, reduce administrative burdens, and unlock the full potential of your workforce with this powerful HRMS solution. In the fast-paced world of real estate, HRM Mitra is your strategic partner for success.
