Every business need a group of individuals who could assemble their skills, talent and knowledge to work as a force to take business to the highest level in that particular industry. As a human resource (HR) manager, one knows how a right person with strategic abilities is fruitful for an organization. But this team building process is not as simple as it seems with limited visibility and lengthy manual procedures. So under extreme stress conditions, human resource teams are unable to find the right person with speed and efficiency. As a result they unintentionally become a cause of slow growth of a business.
In this article we will discuss the various features of “Human Capital Management (HCM)” software and will try to understand how HCM is helpful in making a best team that can make an organization more successful and profitable.
What is HCM Software?
HCM software is a set of applications which are designed with a purpose to help organizations to manage, develop and acquire employees. HCM makes HR process automatic and more smooth. It is very flexible with the capability of addition and removal of features depending upon the size and needs of an organization. It also consists of some advance features like performance management and employee management monitoring.
Main Parts of HCM
There are two main parts of HCM software
- One part is responsible for administrative works of HR department. It only deals with the management of employee’s attendance, payroll, time and on-boarding process.
- Second part deals with the recruitment and performance of employees as well as it manages employees’ data, HR computational analysis and manpower.
Some Key Features of HCM
Recruitment : Labour cost is usually the one of the lofty expenses of an organization. On the other side recruitment is a time taking and hefty procedure. HCM software provides robust talent management technology which makes this process fast and easy by automatically sorting the applications. HCM software has built-in tools which help managers of organization to oversee the recruiting process. They can see the number of candidates applied, read candidate’s profile, forward it to final procedure etc.
On-boarding : The process by which new employees become affiliated with the company. How quickly new employee become prolific for the company depends upon an intelligently designed on-boarding process. HCM software has made the on-boarding process effortless and pleasurable. Now employees can access important information like message from CEO, training videos, recorded presentations etc. They can also communicate with other colleagues as well as with managers in real-time.
Training : With training tools provided in HCM software, managers can identify the skills required from employees even before hiring them. Even manager are able to measure and compare the employee’s existing and required skills. As the HCM software is bundled with fully customize features. So as per requirements training programs can be designed to fill the skill gap.
Performance Monitoring : Performance of a good and skilled working team play pivotal role in the success of an organization. HCM software provides various tools to monitor the performance of employees even at individual level. Managers can set the time of particular task and watch the performance on regular basis without any inconvenience. This enables them to take necessary decision at certain points.