Why Digital HCM Should Become a Staple for Your Company
Digitization is a big word shaking up how people think about business.
Traditional business functions are being transformed by using digital solutions in every aspect of their company. One of the biggest beneficiaries of digitization is human resources.
For many companies, HR is like the neglected stepchild department that doesn’t get as much attention as front line sales. Not anymore. Human capital management (HCM) is about managing your most valuable resource – your people. Thanks to new developments in software for HCM, now you can have a full-service digital human capital management (HCM) system to manage everything from payroll to talent management, analytics, planning, training, and communication.
No longer is HR about hiring and firing and keeping paperwork for decades. Now, it’s about being a strategic leader. By utilizing a digital HCM system, you can track and monitor payroll, benefits, and compliance in one place. Now your HR department can do more with less time and be more efficient in the process.
Track your resources
We know that your people are your most valuable resource. Now you have access to all the data you need to improve the performance of your team. Analyze turnover percentage, call-off rates, and productivity values to make data-backed decisions thanks to your new digitized HCM technology. Since HCM software uses analytics to monitor your business operations, you can make better choices for company growth.
Decentralize HR Department
Perhaps the biggest benefits of implementing a human capital management system in a company is summed up in one word: time. HCM technology creates a self-service option to give more power to your employees and dissolve the need for traditional HR tasks. Now your employees have access to simple information they need like vacation time, health benefits, and personal records, and your HR team has more time to do things that really matter.
Any time you save time, you save money. With all your HR management rolled into one digital masterpiece, you’ll be saving a lot of time. Studies show that HCM solutions return an average of over $9 for each $1 spent. That’s a savings of 90 percent on an ongoing basis. It’s an easily-integrated product that is user friendly, reduced the need for IT support and maintenance is almost non-existent.
Security it one of the biggest challenges of HR. The seamless cloud-based HCM system maintains the highest level of security, typically stronger than traditional companies can match with a workforce that is already stretched thin.
If your HR department loves their filing cabinets overfilling with paper documents and wasting time answering endless emails about PTO time and insurance benefits then maybe an HCM system isn’t for you If you’re reading to digitize your HR, make payroll easy again, empower your employees and increase your resources, get ready to take the plunge. Give us a call today and we can build a plan together to help launch your human capital management into the new digital world with the click of a button.