BY VIZIO CONSULTING INC.
One of the necessary conditions for effective implementation is selecting software compatible with your organization’s needs.
You must be even more cautious when it comes to human capital management (HCM) software.
HCM software assists organizations in efficiently managing their workforce by automating every essential HR function, such as onboarding, employee training, performance management, time management, and so on.
We’ve got you covered if you’re considering investing in HCM software or upgrading your current HR system.
Here are the five features you must consider while selecting the right HCM software:
1. HR Operations at the Core
How you handle your core HR operations, such as time off, attendance, timesheets, payroll, employee inquiries, and so on, can make or break your company.
Even minor mistakes in these core HR operations can cause employees to doubt your organization’s credibility and capability.
As a result, the HCM software you select should be capable of automating and simplifying all of these core HR operations for you and your employees. It should include the following core human resource capabilities:
a. Attendance Management Software: The attendance management software should allow for daily check-in/out, overtime tracking, shift scheduling, customization, facial recognition, geo-tracking, attendance reports, and so on.
b. Payroll Management System: It should be capable of automating payroll calculation, simplifying compliance, generating payroll reports, and allowing employees to access pay slips, submit bills for reimbursement, understand their salary breakdown, and so on.
c. Leave Management: Employees should be able to submit time-off requests, track their time of availability, generate leave reports, approve/reject leave requests, customize leave policies for each region, and so on.
d. Case Management System: It should allow employees to submit inquiries at any time and from any location and find answers to frequently asked questions.
e. Timesheets: The must allow employees to log time, support multi level approval and generate time log reports, amongst other things.
2. Look for Flexible and Future Focused Solution
When selecting human capital management software, ensure it will grow with you. A scalable system will allow you to increase your workforce without switching human resource management solutions.
A forward-thinking HCM partner can handle rapid workforce increases with ease. Choose an option that will capitalize on your growth to set yourself up for future success.
3. Make Sure it Protects Your Data
You should investigate how well an HCM partner protects your data. HR software collects and stores sensitive information about your employees and your company; the last thing you want is for that data to fall into the hands of the wrong people. Before entrusting your HR materials to new software, make sure that it can protect your assets.
4. Talent Development & Management
Talent management is about maximizing your employees’ full potential and assisting them in being their best selves at work.
Your HCM software should include features such as customizable onboarding, a performance management system, a compensation management system, and others to assist your employees in the following ways:
- Become acquainted with their job requirement
- Determine their roles and responsibilities
- Recognize organizational objectives
- Set attainable goals for the upcoming period
- Recognize their contribution to their organization
- Give and receive constructive feedback
- Make sure that they are compensated
5. Compliance Management
Compliance is an essential component of human resource management. Noncompliance with applicable laws and regulations can result in lawsuits and harsh penalties. Furthermore, it harms your brand’s image among customers, candidates, and employees. Because HCM software manages all HR functions, you must choose a system that can assist you in navigating compliance challenges. In terms of compliance management, here’s what you can expect from your HCM software:
- All employee related data is stored in a centralized system
- Increases the security of employee data
- Ensures that all labor and employment laws governing the region in which you operate are followed
- Allows you to customize settings for different locations to ensure global compliance
- Maintains audit readiness in organizations
Conclusion
HCM software is something that you and your employees will use daily for the foreseeable future.
Don’t underestimate its impact on your employees’ perceptions of your company and the relationships they form with their co-workers.
Any software you implement should be able to grow with your company and meet your needs, but this is particularly true for HCM software.
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