Modern context of capitalism is based on two narratives – western economy is rapidly moving towards consolidation while the tremendous emerging economies of the east are diversifying.

Navigating Economic Shifts: The Role of Labor Management Systems

Most of the economic trends of progress, deficit and taxation to institutional policymaking in banking to industrial investment can be traced within similar tangents.

A common feature shared by Indian economy and the consolidating economies of he west is the services industry. We are still taking baby steps in manufacturing compared to China. And yet, India with more than 92% workers under informal economy, needs to uplift the employment standards, prospects for its employees and wages (this also includes equality in employment and wages).

In obvious terms, India is a contrasting economic “superstar” in the making – owing to both white collar and blue-collar workers.

Questions that stymie an integrative approach for co-development of human resource, when we put them together range from:

• How to get right metrics measured at the source?
• Skill and trainings management for all levels?
• Sustaining skill to employment to re-skill or neo-skill, for future?

With these larger questions in place, the fundamental challenges that rock the boat of modern organizations, are:

• Headcount, attendance and on-roll activity management
• Uniform basic orientation and induction
• Overall employee management

The moment an employee chooses a company on selection a spate of paperwork and verification kicks-off. However, the above questions and challenges increase latency and slow down response times.

Labour management software or contractor labour management software with built-in customization and end user interface applications can mitigate challenges and answer the broader questions, at play.

Labour management software offer to include the fundamental challenges mentioned above within a graphical user interface: a new employee and their basic information can be stored inside the database and then plugged into the employment lifecycle: induction, orientation, job specific skill trainings and other associated HR trainings.

This also creates a niche for supporting blue-collar worker: with limited literacy, their training management and opportunities for reskilling and upskilling can be managed by the organization better.

Labour management software or contract labour management software can also serve as a great equalizer for gender related employment and wages gap.

As the digital platform treats all information equally without a ‘digital native’ bias, the employee HR activities are planned without inherent biases and therefore allow the human capital to flourish.

Training management is going to be a crucial part of how mid-level organizations rise to become large organizations. This flexibility of generating better opportunities for the workforce will require the inputs of a reliable digital platform which can handle parallel human capital development avenues.

Contractor labour management or labour management software can demonstrate a good institutional memory for the organization and its human resource; meaning, the database with its records and profiles can be used by the management for effective deputation.

Often, simpler hurdles of headcount and compensation arise for small or mid-level organizations. These are effectively countered by a contractor labour management software with its basic features and validated functions.