There are many aspects to running a Human Resources department, and organizations understand the importance of utilizing technology to mange their most important asset \u2013 their employees. Human capital management software is one such way that companies can manage their employees and ensure a welcoming and productive work environment.<\/p>\n
Human capital management (HCM) software, also known as human resources information systems or human resources management systems, is a set of software with the specific purpose of aiding human resource departments. Just as the software QuickBooks is geared specifically towards helping companies with accounting, HCM software is geared towards human resources.<\/p>\n
In general, having HCM software brings companies into the digital age by cutting back on paperwork, and it reduces the chance of human error and repetitive administrative tasks by creating automated systems.<\/p>\n
Common HR aspects<\/a> of HCM include the following:<\/p>\n HCM software keeps track of each employee\u2019s salary and benefits and allows for easy changes if an employee is promoted or leaves the company. Management can also look at this information to monitor how much the organization spends on compensation in relation to other spending.<\/p>\n Automated onboarding processes benefit new hires as well as HR departments. HCM software can easily generate contracts, offer letters, requests for references, and more, making it easy for HR departments to collect needed information and store it conveniently and consistently.<\/p>\n Training and development modules that are online through HCM software make it easy for employees to access the content and work through it at their own pace. Depending on the software, managers can customize training by assigning specific topics to specific employees, which eliminates redundancies for employees and ensures that they are maximizing their productivity.<\/p>\n Employees can easily submit for time off and see their vacation days through HCM software that includes time and attendance monitoring. HR departments can respond to these requests more quickly if this information is all in one online portal.<\/p>\n Companies need the capability to generate reports that distill information on business as well as information about employees, and HCM software allows for companies to generate tailored reports on their employee\u2019s progress and task completion. Organizations can also run reports that examine employee turnover, recruitment spending, and overall performance.<\/p>\n With many types of HCM software available, here are some of the top products in today\u2019s market.<\/p>\n Workday HCM<\/a> boasts software that incorporates not only HCM aspects but finance and planning as well. The company believes that companies thrive when they are able to see all data in one place as opposed to fragmented and sectionalized data. That\u2019s why they\u2019ve developed fast and efficient systems that compile a variety of data into one place. Their clients include Adobe, Comcast, MGM Resorts International, and Netflix.<\/p>\nEmployee Management<\/h3>\n
Hiring and Onboarding Processes<\/h3>\n
Internal Training<\/h3>\n
Time and Attendance Monitoring<\/h3>\n
Reporting and Analytics<\/h3>\n
Types of HCM Software<\/h2>\n
Workday HCM<\/h3>\n
Kissflow HR Cloud<\/h3>\n