Human Capital Management, or HCM, is vital to business, maximizing people’s value and minimizing how much is spent on management. HCM deals with some of the basic elements that keep the company running, like payroll, HR management, time and attendance, and benefits administration. HCM solutions can greatly simplify managing the many elements of HR. A functioning HCM leads to a functioning workplace.
A Changing Workforce Means a Changing Workplace
While the importance of HCM has not changed, the workforce has. The past ten years have seen a revolution in workplace culture, due not only to increased technology but to a millennial-heavy workforce. The office is no longer a 9 to 5 grind, but a place that conforms to employees’ needs, giving them varying work hours and work spaces. Many employees work remotely, and those that don’t benefit from flexible, unrestricted work environments. These work situations will only increase in the next five years, so companies should be prepared.
“Workplaces are increasingly catering to the worker holistically by offering spaces to rest or meditate, rooms to play games in or indulge in listening to music or connecting on social media, spaces for nursing mothers, fitness rooms and spas, and flexible schedules so that workers can get their jobs done while meeting the needs of their families,” said Elizabeth Dukes of iOffice. These drastic workplace changes have led to the need for new workplace technology that keeps track of each employee’s different work requirements.
HCM Solutions Catered to Employees
While employees want workplaces that cater to their needs and wants, they also want HCM solutions that are available across all fronts of technology. “From my perspective, the workforce is starting to demand the kind of engagement and tools at work that they have in their personal lives,” said Aaron Green, VP of HCM Strategy at Oracle. This can include working from home, taking advantage of flex days, or even freelancing. Because companies are focusing more and more on employees’ needs, HCM solutions should reflect the same.
“What that means from the HR perspective is that HR will be seen as the agent of change and expected to leverage the technology according to the needs of the organization,” Green said. “Whether HR likes it or not, that is what the modern workforce is really demanding from the employers.” Modern workplaces can benefit from HCM solutions that streamline all HR and employee needs, providing easy access while saving time and money. HCM doesn’t have to be complicated; it’s can be as flexible and changing as the modern workforce.
There are many different options for organizations looking to streamline HCM. Human resource systems can combine every element of HCM into a single, simple, all-in-one solution, which will reduce overhead costs and administrative issues. HR systems will not only streamline your process, but do it with whatever technology platform you’re already using. There’s no question this will make it easier to keep track of all the different elements of your business, but how do you know which HCM solution to choose?
HCM Solutions by Asure
Asure has figured out the best ways to streamline HCM. As their website says, “Our HR and payroll capabilities allow you to streamline and efficiently manage your company’s processes from integrated recruiting and applicant tracking all the way through retirement within one cloud-based solution.” Asure has developed an HCM platform called The People Success Platform. This tool encompasses every aspect of HR:
- Payroll and tax solutions
- Benefits administration
- Human resources
- Talent management
- ACA healthcare reform software solutions
- Hoteling and hot-desking
- Move management solutions
- Business utilization analytics
With all the options available to companies today, there’s no need to be intimidated by the changing workforce and changing workplace. HCM technology, such as Asure’s People Success Platform, exists to make HR and HCM management simple and efficient for each and every business.