Today’s human resources departments wear multiple hats – handling everything from staffing, payroll, and benefits administration to promoting company image and managing employee relations. Additionally, they are plagued by countless cumbersome, manual procedures that waste a tremendous amount of time and effort. Human capital management solutions help HR teams to better coordinate the various functions they manage, while automating and streamlining the most repetitive, time-consuming, and labor-intensive activities.
Bringing a new employee into the company fold requires a tremendous amount of paperwork and effort. A human capital management solution simplifies and accelerates the entire process with a variety of features. For example, self-service capabilities can allow new employees to complete forms online, then dynamically process them, route them to the appropriate managers, and store them for future reference. Additionally, many human capital management solutions include online training modules, so new hires can get up to speed on the company and their jobs as quickly as possible, without the need for HR staff to coordinate formal training programs.
Enrollments, beneficiary changes, policy updates, discontinuation of coverage, and other benefit-related activities are highly repetitive and resource-intensive. Form after form must be filled out, submitted, processed, and filed. Human capital management solutions eliminate these redundant tasks and fully automate all core benefit procedures. Additionally, the self-service capabilities within many human capital management packages minimize the number of benefit-related questions that HR staff members must address by making all policy information and related documentation readily accessible to employees via the Web.
HR staff members often struggle to oversee the various players and activities involved in performance management. They must ensure that supervisors complete appraisals on time, that workers have ample time to review them and respond, that improvement plans are put into place when needed, and that records are efficiently stored for future reference. With human capital management, all related workflows can be dynamically executed, minimizing the need for direct involvement from HR staff. Additionally, human capital management makes the entire performance management process more open and collaborative, eliminating the need for HR personnel to oversee disputes, while helping to contribute to greater morale and improved employee relationships.
Many companies still utilize hard-copy time cards and forms to manage hours worked, as well as sick, personal, and vacation time utilized. This approach is prone to errors and inconsistencies and wastes a tremendous amount of both time and paper. Human capital management systems fully automate time and attendance tracking. So, information can be captured, calculated, and processed in the most rapid and accurate manner possible.
Human capital management software delivers significant benefits to companies of all types and sizes. Perhaps the greatest advantage they can offer is a significant increase in the productivity of HR personnel, who are often challenged to oversee numerous responsibilities with limited time and resources.