The integrated cloud ERP and HCM suite created by NetSuite TribeHR for small as well as mid-sized businesses will help them in transforming their HR departments to execute their organizations according to its strategies. NetSuite proudly announced about its acquisition agreement with its Canadian partner, TribeHR, the first social HR vendor founded in 2009, to make products for social benefit. The integrated cloud ERP and HCM suite created by NetSuite TribeHR for small as well as mid-sized businesses will help them in transforming their HR departments to execute their organizations according to its strategies.
Netsuite TribeHR Overview
The traditionally rich HCM capabilities required for managing growing organizations will be united with an attractive social interface to encourage the collaboration and involvement of the employee with the evolution of NetSuite TribeHR. The system of recording the activities of the employee developed by this set up will work together with the single system of record for core operational data of the business from NetSuite to give a modern platform to the organizations to run their business’ core aspects on the basis of cloud’s flexibility, agility and scalability.
NetSuite TribeHR offers the first human resource management software that works socially when used with NetSuite to allow its users in managing the whole lifecycle of the employee through a social Applicant Tracking System (ATS), powerful core human resource information systems (HRIS) and advanced Talent Management system. Work and time off history are tracked by NetSuite TribeHR to manage all-round responses along with the recognition of colleagues and public to attract and employ top talent while conveying integrations with Facebook and Linkedin.
Though with TribeHR the profiles of the employee will feature similar to the information available in any HRIS but their growth and changes will be real like any normal team as it works more than just storing the data. TribeHR helps in storing complete vital information of an employee including achievements, performance reviews, skills development, resume tracking etc. in his every profile to make it easily accessible to everyone in the organization through the corporate calendar, resource library and the centralized library of the employee.
Benefits of NetSuite TribeHR
HR management of small and mid-sized businesses can be optimized.Innovative features of NetSuite TribeHR allow small and mid-sized businesses to enjoy the best features of HRIS management.NetSuite TribeHR provides an engaging social interface liked by the employees It enhance the possibilities of HR recruitment By automating repetitive tasks small and mid-sized businesses can attract and recruit the right talent.It can also help these businesses in shortening the hiring cycle of the employees.
Possibilities of improved talent management will increase.Its social performance management system will help in engaging and nurturing their talent.The feedback and goal tracking tools of NetSuite TribeHR will also help in better development of the talent of small and mid-sized businesses NetSuite TribeHR will also help small and mid-sized businesses in reducing the cost and increasing the ROI of their employees Social HR of TribeHR will help its clients in finding a scalable ROI far beyond initially expected by them.
Features of NetSuite TribeHR
HRIS reporting: The reports received from TribeHR will help small and mid-sized businesses in turning the data received into useful information that can be used in building the knowledge of the organization and support the decision making strategies.
Applicant tracking system: The powerful applicant tracking system introduced by TribeHR will help the small and mid-sized businesses in starting their own modifiable board for job opportunities to make posting of positions and acceptance of applications easy.
Skills tracking: TribeHR allows the managers of the small and mid-sized businesses to recognize and renew the set of skills for every individual employee to track them easily across the whole workforce of the organization.
Integrated financial management: All the financial management solutions of NetSuite will seamlessly help in integrating the financial management solutions of NetSuite TribeHR to provide everything the small and mid-sized businesses need to rationalize their business processes to provide top class management to their businesses.
Dynamic organizational chart: The dynamically generated organizational chart by the NetSuite TribeHR will help the small and mid-sized businesses will help in displaying changes to show departmental changes, terminations and recorded promotions.
Reviews of the employee and their review cycles: The facility of frequent employee reviews and review cycles provided by TribeHR will help in providing detailed and relevant information about the performance of the employee during the entire period of the review which can be used in conducting their annual performance appraisals.
Reasons for Netsuite Acquisition of TribeHR by NetSuite
The increasing interest of the small and mid-sized business companies in their largest asset, the real talent, had initiated a slow but steady war among them for attracting and engaging talent which increased their interest in HCM. Though the small and mid-sized businesses were not in the race of talent hunt in the past as compared to large companies but now their main focus is on. After realizing the inclination of the employees towards large organizations small and mid-sized businesses have started to follow the practices, strategies and techniques of HCM.
The increasing need of small and mid-sized businesses regarding acquisition and retention of the talent had compelled NetSuite to search for market leader of SMB-Suite SaaS. Alongwith various other acquisitions in this regard NetSuite has also acquired TribeHR in the month of May 2014 to launch NetSuite TribeHR.
NetSuite preferred to acquire TribeHR for various reasons. Though NetSuite offered multiple user interfaces to the small and mid-sized businesses but it did not prove to be useful for them unless the situation user friendly. The code and product developed by TribeHR on the platform of NetSuite has made it one of the mature and largest vendors of social HR which helped in using HCM in a different manner.
Thus the integrated cloud ERP and HCM suite created by NetSuite TribeHR helped in managing complete information to attract and employ top talent while conveying integrations with social networks like Linkedin and Facebook.