Human capital is an integral part of any business, which is why many companies are turning to HCM software as a service to assist their HR departments. HCM software, or human capital management software, is used to recruit, train, and maintain talented employees. It streamlines processes to make the job of HR and keeping track of employees much easier. Using an HCM software allows your company to eliminate the clutter of HR paperwork and move into a simpler, more efficient way of taking care of your employees.
Recruiting new, talented workers can sometimes be a hassle. Having to do background checks, keeping track of resumes and general applicant info, and scheduling meetings can be very time consuming. HCM software helps with all of these aspects and more. All of the applicants information is compiled and the software tracks the entire process. Some software can even perform background checks for you. It also lets you know what positions are available and the date in which the position should be filled. Using HCM software to recruit new talent provides an easier experience for everyone involved. All of the information is in one place and is easily accessible to anyone in the company who needs to view it.
When training an employee keeping track of what stage of training they are in can be confusing, especially if you are training multiple employees at a time. HCM software supplies a portal that is accessible to employees, managers, and instructors which tracks ongoing training and development. It also provides a centralized location for training information, such as course content and certification paths. When training is centralized it allows managers and instructors to keep track of where employees are in the training process.
There are a few different ways that HCM software helps maintain employees. The software records and tracks employee performance reviews which enables tools for performance measurement. It also tracks employees goals, and with their performance measurement and goals in the same place they can easily see how well they are doing in achieving their goals. A great way to maintain employees’ drive to achieve is implementing compensation management. The software can track how employees are doing and compensate them accordingly. Employees that perform well will receive incentives which, in turn, will incentivize underachievers. With employee performances and data on how well they are achieving all in one place it makes it easier for managers to identify which employees to promote or move into certain positions based on where they excel.
Employees can use this software to clock in and out of work. With this information in the software true attendance records are assured. The amount of sick days that an employee takes can also be tracked and managers can be alerted if an employee takes too many days off. It also provides the ability to do direct deposits and keeps track of employees’ salaries, bonuses, and withholding taxes. A big benefit for employees is that the software tracks their healthcare, life insurance policies, and 401(k) plans.
HCM software is a one stop shop for all things HR and streamlines these processes to make your employees’ lives easier. PayPros is partnered with iSolved to provide our customers with their HCM program. Doing business with us means that you get the benefit of using the industry standard, iSolved HCM software. If you have any questions regarding HCM, or anything else, feel free to contact us through our website or call us at 866-445-2524.