5 Reasons Why Your Business Needs a Human Capital Management Solution
HR has changed dramatically in the past decade, evolving from a focus on information storage to a more strategic process that involves everything from operational management to recruitment to workflow optimization and more. The expectations placed on Human Resource teams to handle all of the new demands are high. And if your business is still using legacy HRIS systems, they may be impossible to consistently meet.
Many companies have made the move to a Human Capital Management (HCM) solution, which helps keep all critical functions in one database. If you haven’t switched to HCM, here are five reasons why it may be right for your organization.
1. Streamlines HR processes
Many companies don’t store all of their employees’ data in just one location. Instead the information lives on disparate systems, requiring constant exporting and importing of information and clunky integrations. With HCM, HR teams have employee records together in a single, synchronized package, creating a simplified user experience.
2. Benefits of the Cloud
Moving your HR management to the cloud offers a high level of convenience, allowing you to change or update to newer versions in minutes instead of requiring an overhaul of your entire software. It also gives you access to your information from anywhere at any time. This has become an increasing crucial feature in the Bring Your Own Device (BYOD) Age.
3. Improves Employee Engagement
An HCM solution gives employees the autonomy to manage their own schedules, plan their time off, update their benefits packages and personal information, all from their own computers or devices. This not only gives them a sense of empowerment, it relieves HR teams from time-consuming data management processes and allows them to focus on other tasks.
4. Better Security
Most HCM solutions use superior security technology and practices, offering password protection, permissions-based access, firewalls and data encryption. Because HR departments are handling everything from employee home addresses to social security numbers to medical histories and bank information, it’s critical to keep this information secure.
5. Boosts to Your Bottom Line
With an increase of productivity, a decrease in human error, lower one-time fixed costs and cloud-based software that saves you from big spends on hardware, going with an HCM doesn’t just save you time and headaches…it also saves you money
Is your company looking to adopt a Human Capital Management solution? Contact Accu Data today to see how our unified, single-source HCM solution can help you increase organizational productivity and profitability, with comprehensive functionality for Payroll, Human Resources, Time & Attendance, Benefits Administration and ACA Compliance.