Human Capital Management System (HCM) is a one-stop solution to manage HR needs, to streamline processes, to provide visibility into the global workforce, and to provide a user experience that’s accessible from anywhere. So we can keep your people engaged while helping them adapt and grow. It covers the whole employee lifecycle: onboarding, recruiting, learning, compensation, payroll, benefits, time off, analytics, planning, etc.
How can an HCM benefit your organization?
There are a number of variables and considerations when selecting a new Human Capital Management (HCM) Platform.
- What is the size of the company?
- What are the platforms other functions are using?
- Does your company plan to grow?
- Are you global or domestic?
- Do you have field teams that require mobile capability?
- Do you need customized reporting capability or is standard reporting sufficient?
- Are you looking to integrate payroll?
- Which modules will you need?
- Learning Management System
- Applicant Tracking System
- Performance Management
- Does it offer machine learning capability?
- Do you require a cloud based solution?
The majority of providers today have cloud based solutions. A cloud based solution refers to on-demand services, computer networks, storage, applications or resources accessed via the internet and through another provider’s shared cloud computing infrastructure. One of the key benefits of cloud-based software is the flexibility it offers. Cloud doesn’t tie you or your business into a single location. You will be able to do business from all over the world. This kind of flexibility can also help with employee satisfaction and productivity.
Selecting the right HCM for your business now and in the future provides a one stop shop for you and your employees to be able to access all information in one place. Designed correctly, HCM’s save a tremendous amount of time and manual manipulation. Value propositions include:
- A single platform to manage and develop a diverse workforce with transaction history and operational metrics in a single system providing real-time global visibility.
- Organizational flexibility and agility to adapt to change (M&A activity and shifting business models).
- Operational efficiencies, freeing up more time for employee services and strategic HR initiatives.
- Consumer grade, modern mobile experience for managers and employees.
Choose wisely as HCM subscription and implementation fees are not inexpensive and the time devoted to bringing one up is significant.