Todd Nesnick
Your employee management process is a crucial component of your business excellence. HR software enables organizations to automate routine HR operations to improve performance while reducing costs. HCM (Human Capital Management) systems are designed to integrate with your accounting to support company payroll. They can also work as an independent system for employee engagement.
HCM systems offer a plethora of features and functionalities for your business. Below are some of the incredible features and functionalities of HCM:
Learning and Development
Organizations today are looking for HCM solutions that offer learning and development capabilities. This is because they want to ensure that their employees constantly learn and keep up with the latest industry trends.
These solutions usually come with a learning management system (LMS) that helps you create eLearning courses, track employee progress, and provide performance reports. They can also offer collaboration tools that allow employees to discuss the course content and share ideas.
Recruitment Management
HCM solutions provide an excellent way to manage recruitment processes. You can use them to identify potential candidates, screen them for eligibility, assess their skills and experience, and determine whether they are a good fit for your company.
The solution usually comes with an integrated recruitment platform that you can also use to post jobs, track application status, administer interviews, and generate reports. It may also include features such as job boards or social media integration that help you reach out to potential candidates.
Payroll Management
HCM systems offer payroll management features that enable businesses to process employee salaries and wages quickly and efficiently. The payroll management functionality includes tax calculation, deductions, and allowances.
It also offers direct deposit features, which enable businesses to deposit employee salaries into bank accounts directly. Also, HCM software like UKG Workforce can create pay slips that can be emailed or printed and distributed to employees.
Attendance Management
HCM systems can automate attendance tracking and create reports to identify employees who are absent or late. This information can be used to improve employee productivity and compliance with work requirements.
Of course, HCM also offers options for recording absences for genuine reasons such as illness or vacation. Just make sure you have a system in place to prevent employees from manipulating their records of absences.
Your system will alert your Human Resources department so they can provide appropriate assistance while the employee is off duty.
Dashboards and Reporting
The system provides real-time data dashboards and customizable reports. The data dashboards give you a quick overview of the employee data. You can also export the data to Excel for further analysis. The reports can be scheduled and emailed to the concerned parties.
For example, if you want to know the attrition rate, you can quickly generate a report. The data dashboards are also helpful in tracking the goals and objectives of your employees.
Employee Self-Service
The employee self-service feature allows employees to view and update their personal information. They can also view their leave balance, claims, and benefits. This feature saves a lot of time and effort as employees can do everything on their own.
However, you need to ensure that the security features are enabled to prevent unauthorized access.
Conclusion
The features and functionalities of HCM systems discussed above are just a few of the many that are available.
When choosing an HCM system for your business, choose one that offers the features and functionalities that will be most beneficial for your company. Also, Look for a system that is easy to use and implement so that you can get the most out of it.