Human capital management supports continuous growth in organizations and helps to increase specific qualifications in employees. Recruitment, development and management practices, administration, tactical and strategic support also increases the well being of both businesses and employees.
Human capital allows companies to remain innovative. It is crucial for companies to dedicate time and resources toward training, recruiting, managing, and developing to maintain employees. The good news is there are many HCM systems for companies to take advantage of that offer a multitude of features.
Follow this article to help you distinguish which HCM systems(software) is best for your company.
How to Select the Best HCM Software
Step 1: Analyze your company’s current and future needs
With the overall goal of strengthening your workforce, it is imperative to firstly identify what issues need attention in order to pick an HCM software that directly addresses those problems. To improve efficiency, it is important to examine the challenges of current processes to determine what the new software must have to be effective. It’s also necessary to look ahead and Identify future goals to further grow your business.
Step 2: Measure integration ability
The next step would be to integrate all HR functions in a single platform. The goal in this stage is to Integrate a new system that shares data effectively which be used to find solutions. It is smart to search for a software that has multiple features and functions so you can better effectively communicate data within your organization.
Step: 3 Understand compliance risk exposure
Litigation, fraud, existing legislation and regulation are all risks related a company’s compliance(1). It’s important that HCM processes meet compliance requirements. Choose an HCM system with automated alerts keeps your business up to date on laws and that increases understanding of regulations can avoid penalties and ensure the accuracy of company data.
Step 4: Estimate options for data security
The important information HCM software holds will need to be data protected. It’s best to ensure business information and employee records are safe from breach or hacking when implementing new software. When researching new software’s its critical to choose one with cyber security that has the ability to protect the company and everyone in it. Software’s should exercise security measures and require employee verification and/or passwords to lessen security concerns.
(Also Read: The Complete Guide on Human Capital Management)
Top 15 HCM Systems for Your Business
ADP caters to all businesses of all sizes and includes all services such as training, benefits, payroll, insights, time and attendance career development, recruitment and benefits. ADP offers easy integration with several other software’s and provides customers service and training.
BambooHR software offers its platform on mobile apps for increased accessibility and a free trial for companies to test the software. This platform has features like personnel data and analytics, hiring, onboarding, time off tracking, compensation and culture to support mainly small and medium-sized organizations.
The HR software stores employee data in a single database providing accurate analytics, records and reports.Self-service features offer employees to customize information. One resource BambooHR offers, is training modules to train clients mastery of the software program.
Rippling is an employee platform that gives companies the ability to manage HR making the processes simpler. Rippling is a single system used to handle on-boarding, off-boarding and updating employee changes such as raises. It offers payroll, benefits, available on mobile apps for simpler and convenient access, and security which is crucial for to ensure data security.
Rippling has the ability to integrate with other applications, store documents and is data accessible at any time. The platform also has the feature to assign tasks throughout an organizations workforce to ensure productivity throughout the office.
Ultipro one of the best HCM systems known for its user-friendly features. This system takes advantage of artificial intelligence to help engage employees, track recruitment, engagement and retirement. UltiPro’s features include performance, employee pay, ACA employer services and compensation management. Also, UltiPro utilizes a predictive analytics tool that monitors employee turnover.
The platform has unique features that assist with business needs such as Ultipro launch, Ultipro payment services, Ultipro check printing, Ultipro print services and managed services.
Designed in partnership with customers, workday is a user-friendly software that includes all human management needs in one system. Its features include workforce planning, talent management, audit and internal control expenses, reporting and analytics, global management, payroll management, recruiting, learning, benefits, expenses, among a multitude of other things.
Workdays integration and global compliance features make it a great HCM software for businesses. Using a single system, workday engages employees and gives businesses the visibility to update data and make advised decisions based on accurate insights.
Gusto HR is an all in one platform that help businesses grow their teams effectively. Providing full-service payroll, benefits including medical, dental, life, disability and vision, time tracking, compliance help and employee finance tools. Gusto promises reliability with certified HR experts to be there for immediate answers and support when implementing tools.
This software allows you to protect your business and remain compliant by offering law alerts and HR guides to avoid any unwanted penalties.
With a reputation of accuracy and security, the GoCo system eases human resources stress with a multitude of different features. Including onboarding, new-hire resources, time tracking, benefits management integrations, payroll, documents, automated workflows, performance and attendance management, employee database. It also offers benefits compliance to ensure your company is always following regulations. GoCo lets you stay connected with integration capabilities to multiple other applications.
This software allows for flexibility through great customer service and automates HR processes increasing interaction. The human capital management software keeps employee data safe by implementing security controls such as data centers, HIPAA compliance and two- factor authentication.
Focusing on small-sized businesses, Zenefits works to acknowledge all systems within the workforce. Zenefits offers HR functions, workforce management, absenteeism, business intelligence, paid time off, benefits, organization charts and performance reviews.
Zenefits HCM software works to keep businesses compliant with built in safeguards, calendar deadlines and automation. Working with many other apps, Zenefits offers built-in integrates to increase productivity. Zenefits is also available on mobile through apps.
Kronos Workforce Central
First developed in 1977, Kronos offers users to manage their workforce. The HCM software offers businesses HR, payroll talent acquisition, analytics, time keeping, tracking, attestation and aca manager and compensation and performance management in a single system.
This software offers customization, specific to your organizations needs and is available mobile through apps. An easy cloud-based delivery updates data with readily available insights.
Ideal for a larger workforce, Viventium allows users to manage multiple payrolls at once. With seamless integration and personlizable workflows this HCM software strives to grow your business. Viventium lends expert guidance with customer service representatives to offer knowledge to clients.
Its features include human resources, ACA compliance software, applicant tracking, time and attendance, on-boarding, business intelligence software, online payroll software, and talent acquisition software. Viventium also offers a self- service software where employees can access it anywhere or anytime.
Vibe HCM is a cloud-based platform, making accessibility easier. The platform delivers HR, talent, recruiting, on-boarding, engagement, analytics, develop skills and payroll services. The HCM capabilities offers great customer service, easy implementation and employee engagement features such as customizable social network that encourages communication and engagement within your workforce.
Vibe HCM allows businesses to automate HR transactions so organizations can focus more on connecting with employees.
Infor is a cloud-based human capital management software that provides a system that aims to simplify human capital management for human resource professionals. Its features include global human resources through benefits and employee relations. Talent management through on-boarding and talent acquisition, HR service delivery and payroll, analytics and workforce management.
CloudSuite HCM offers an array of resources giving organizations all the information they may need. Organizations can access whitepapers, videos, case studies, executive briefs, webinars, eBooks, data sheets, product demos, infographics, brochures, and analyst reports all to better their workforce.
Specified toward small and medium sized businesses, sage works to improve complex HR processes. Some of the key benefits Sage offers is HR and people analytics, talent acquisition, people, performance and workforce experience management, attendance and leave management, payroll, and Global cloud HR and people system. Sage identifies talent within your organization to grow your business.
With instructor-led classes the software offers support, updates and techniques to improve the platforms knowledge.
This HCM software is easily customizable specific to your organization. With recruitment technology and strategy, Saba identifies key talent helping improve your workforce. Available within healthcare, financial, retail, hospitality, technology, education, public sector, and manufacturing industries, the platform caters to a multitude of clients. The HCM platforms capabilities include candidate relationship management, applicant tracking, on-boarding, marketplace, recruitment analysis and RPO.
Within recruitment management Saba offers insights that provide vital information in making decisions. Saba services include goal management through meetings, check ins, employee feedback and coaching, performance reviews plus more to make sure your employees are growing with your business.
Sap Success Factors
Sap focuses on improving the workforce to enhance the employee experience through learning and development. Sap is a cloud-based software that offers product features such as core HR and payroll, HR analytics and planning, talent management, and employee experience management to improve skills and acknowledge feedback within the workforce.
Providing businesses with tools to better manage, SAP Success Factors also offer services such as consulting, support and workplace planning to meet organization goals.
(Download Whitepaper: Start your HCM journey on the right path)
Additional HCM Systems to Consider
Sentric gives businesses the ability to empower their employees by giving them the freedom and flexibility to manage and customize their own data through computers or mobile. Sentric offers the ability to store documents making managing the onboarding process simpler. Features include HRIS, recruitment, payroll, time, on-boarding, benefits, talent and reporting.
The platform also offers ACA coverage to cover compliance needs. To make implementation run smoother Sentric offers tailored training, and guided talent set-up to understand and adapt to the software.
Known for its customizable software, Ascentis is a flexible HCM software that gives organizations the flexibility to add services catered directly to their goals. Their services include an account team , customer service support, integration options and an implementation team.
Ascentis’ features include time and attendance, tax filing, HR and benefit management, payroll, recruiting and talent management. Available on mobile app, Ascentis makes accessibility to move with employees.
(Also Read: 6 Future Trends of Human Capital Management)
Choosing the right HCM software for your business can help you to meet your customers’ and employees’ needs. How well you understand your business needs can be fueled by the pros and cons of each system and can help you set your goals for the future.