4 Features of a Human Capital Management Solution
A Human Capital Management (HCM) solution can transform the way a business approaches its HR management. The right frameworks and technological systems may make all the difference, from attracting the right talent to retaining them to developing core company leadership over time. Technology, in particular, can play a vital role in implementing a successful enterprise-level HCM solution. Real-time access to information can help managers make smart, data-driven decisions. Here is a closer look at four features to consider before purchasing an HCM system for your company.
Companies are increasingly looking to ensure their HR software communicates with other systems and processes effectively across the business. True integration enables the seamless sharing of data, increased accuracy, and more useful reporting. Some providers create a veneer of integration through partnerships. Other companies are simply working with legacy systems and manually transferring information between them. The reality is that legacy systems anchored around partnerships don't really communicate well together; this may lead to extra work and risks that can affect everything from employee satisfaction to finances.
The ability to propagate a single user-record throughout an integrated system can help ensure data remains accurate and accessible regardless of system, department, or location. For each employee, one comprehensive record would contain all the relevant information about that person. This feature mitigates the need to enter information multiple times, repeat manual data entry, worry about data inconsistencies, or manage the sharing of data between different systems or vendors.
Cloud-Based Modular Approach
Some companies need every potential feature of an HCM solution; others have simpler needs or requirements that may change over time. An HCM solution that takes a cloud-based, modular approach can provide the flexibility businesses need to configure HCM solutions to their current business realities. Growth or simplifying systems shouldn't cause headaches. When different content modules are built into a layered cloud-based technology environment, specific subscriptions could potentially be turned on or off at will. Companies could add more features as they grow, or eliminate unneeded services in response to market changes, to help provide a seamless and stress-free experience.
When a problem occurs with a non-integrated HCM solution, it may take several phone calls to get resolved. Tech and account support vary widely between vendors and software providers. If an issue occurs between different systems, it can take even more valuable time to identify the problem and solve the issue. To help avoid these issues, choose an integrated HCM system that offers 24/7 support customized to your needs. Whether you're looking for a centralized point of contact or dedicated support from experienced professionals, a flexible support model can eliminate unnecessary downtime, get your questions answered quickly, and scale as your needs change over time.
The right Human Capital Management System can transform your organization by making it easier than ever to access accurate, real-time data about compensation, performance, and much more. Investigate the features of any system you’re considering to ensure you're choosing a flexible and integrated option with a world-class support plan.