HCM stands for human capital management, which refers to the management of employees, their time worked, payroll and more. It is often software with a user-facing component. For example, HCM software solutions will likely offer a way for your employees to clock in and out themselves. It also integrates payroll and productivity analytics software. Essentially, HCM software solutions are like a suite of software all in one for your convenience and ease of use.
As you scale your team, you will need HCM software solutions to handle the volume of people who are now in your organization — because you certainly cannot handle the growing number with scattershot software or an in-house workaround. In sum, HCM software solutions make all these resources and features more accessible.
If you are still handling human capital management manually or with shaky software solutions, you may be hurting your bottom line. Think of all of the apps, software and cloud solutions you use to deal with human capital, that is, any part of your workforce. How many are there? How much time does it take to move between them and stay up to date on how to use them? The answer is probably that you have too many, and it takes too long to manage them on a daily basis. The answer? HCM software solutions to help you scale.
How Can HCM Software Solutions Help Me Scale My Business?
To scale your business, you need human capital, and probably more of it than you have now. For that to be manageable, you need a way to work with human capital data and activity that doesn’t cost you valuable time. This is where HCM software solutions come in to save the day.
With it, you can handle your workload even more efficiently. That is because the HCM software reduces the weight of the overall workload — not just for your HR and payroll departments but for you as well. That way, you’re ready to scale, with all processes set to work seamlessly without human intervention. You can instead focus on what you need to grow and maintain a thriving business.
Additionally, the best HCM software programs offer many convenient tools all in one place. As a result, you do not need to open another software solution to manage payroll after you have reviewed all the hours worked among all your employees; you just need to click a new button and find those hours already integrated into payroll in the first place. The burden of switching data from one program to the other never even arises because all the software already has that information at its disposal. You can be more certain about the accuracy of clocking in and out because your employees do it in a way that is connected to your HCM software solution. Payroll inaccuracies are guarded against and violations of payroll law will not be things you need to worry about because most HCM software solutions auto-update to follow the latest law and regulations.
