6 Reasons To Use HCM Technology

6 Reasons To Use HCM Technology

HCM Technology, HR Software, HR Solutions, Human Resources Software

Most human resource professionals are well aware of the Human Capital Management (HCM) movement.  The right HCM technology will streamline HR processes and save the company time and money, both of which should be considered for your ROI.

A recent Nucleus Research study included companies of various sizes and industries and revealed many noteworthy items that confirm implementing HCM can significantly impact your business.

HCM provides hard savings:

  • HCM technology returns an average of $9.13 for each $1.00 spent.
  • Initial implementation of cloud-based HCM solutions can cost 79% less than on-premise solutions.
  • Companies experience about 90% in savings for ongoing maintenance.

Cloud-based HCM provides everything an employer needs to manage their workforce and is in high demand. With today’s business environment, legislation and technology, employers are challenged to do more than just issue paychecks.

Here are six reasons HCM will benefit your business:

  1. Cloud-based solutions. HCM technology is extremely cost-effective. Cloud-based HCM applications reduce the need for IT support while providing access from any location, with any device. HCM allows multiple customers to access the same application simultaneously.
  2. Hardware/software upgrades. The cloud technology’s multi-tenancy architecture assures you of always working with the latest version. No more downtime while updates are processing.
  3. Data security. Data in a cloud-based HCM system provides secure data effortlessly, maintaining high standards and rigorous adherence to government compliance regulations. Important information is protected using superior firewalls and encrypted transmissions.
  4. Shorter learning curve. Using a single plug-and-play solution consolidates numerous tasks, leaving more time to focus on vital HR related issues.
  5. Tracking talent management. HCM platforms can cover the entire employee lifecycle, from hiring, onboarding, to training and even termination.
  6. Better employee engagement. No matter where employees are located, they can access personal data, benefits information, requests for PTO and payroll, relieving HR from time-consuming data management.

Today’s employers need to save time and money wherever possible. HCM technology has numerous benefits that not only streamline processes but can increase your ROI.

 

4 Benefits of Improving Employee Onboarding

4 Benefits of Improving Employee Onboarding

HR Solutions, Onboarding, Time & Attendance

Nearly a quarter of staff turnover happens within six weeks of starting employment, which wastes time and resources. When a new hire starts with your company, this will be his or her first chance to see how it operates. Clear instructions, timely responses from management and HR staff, and proper handling of new hire paperwork are important tasks that help instill confidence in new employees. But when your new hire is shuffling between departments during the first week of employment, it’s tough to keep track of where he or she is in the onboarding process.

The solution to this common problem is an automated onboarding system. You can eliminate unnecessary steps, automate your onboarding workflow, and get rid of extra paperwork. Four of the leading benefits of improving onboarding include:

Improved job performance

When your employees understand their expectations, their performance tends to be much better. This is especially true of new hires, who are trying to adapt and learn more about the company culture and the new positions that they are filling. Take time to reduce ambiguity around policies and responsibilities.

Reduced stress

Onboarding a new employee is often a process can bring stress to everyone involved. When the process becomes more automated, everyone involved can stay apprised of the progress and have a clear understanding of necessary next steps. Automated onboarding also provides the opportunity to discuss the company’s values and expectations in the new role.

Increased employee satisfaction

If an employee feels confused or overwhelmed when starting in a new role, he or she might start to feel unfulfilled. When you can spend time with the new hire and provide information about goals and the company vision, you are laying a foundation for better satisfaction.

Better retention

When new hires feel satisfied and have lower stress levels at work, it is unlikely that they will look for other opportunities. Stress reduction, job satisfaction, and improved performance all add up to the ultimate goal of higher retention rates.

Taking steps to improve your onboarding process is well worth the effort with the benefits that this kind of system can offer.

iSolved, a human capital management system, is all about eliminating paperwork, and its newest addition, Onboarding, does just that for human resources and hiring managers. Onboarding is built directly within the Highflyer HR platform, so you can sign in once and access all of the data it stores in the cloud-based system. When new hires feel like they are drowning in a sea of paperwork, Highflyer HR can help you throw them a lifeline.

5 Benefits of Tracking Time and Attendance

5 Benefits of Tracking Time and Attendance

Time & Attendance

As an employer, you have a lot on your plate. Between payroll, interacting with employees, and trying to run the business, you may find yourself stretched thin and not able to commit as much time to the things that are most important. Unfortunately, when a supervisor can’t stay on top of the growing list of demands, employee engagement can suffer. Instead of spending your time at work worrying about employee attendance and trying to track schedules, you may want to look into a solution that can take care of this task for you.

There are a number of benefits that come along with a system that can quickly and easily track time and attendance.

Get Rid of the Paperwork

New hire documents, payroll, and time cards amount to a stack of paperwork that can bury your desk in just a few days. With an automated system, your employees can clock in and out without filling out any paperwork, and check the system to determine their upcoming scheduled shifts. A robust system also allows you to copy schedules among employees or between weeks.

Remain Compliant

State and federal laws regulate record keeping and overtime pay for employees, so without a reliable system, you could be facing legal problems. Changes that resulted from the Affordable Care Act (ACA) also require employers to keep careful track of hours worked to determine eligibility for benefits.

Avoid Human Errors

An astonishing 80 percent of employees surveyed in an anonymous questionnaire admitted to “stealing time” or being paid for hours they didn’t work. (Survey included employees in the service and retail industries.) Even honest employees can make mistakes when they keep their own time, by simply misplacing a digit or adding incorrectly. An automated time tracking and attendance system also eliminates the concern about “buddy punching.” Whether the mistakes are by accident or on purpose, your business could be losing money on lost time.

Focus on Other Tasks

Human resources and accounting professionals spend a lot of time on payroll each month. When you upgrade to an automated system, you could find that your employees suddenly have as much as 70 percent more time to devote to other tasks related to their jobs.

Simplify Data Storage

Some systems are only designed to manage clocking in and out, but others can truly do it all. With a single sign-on, employees and supervisors can access their own self-service accounts, along with a lot of other data in one place. When you set up the new system, you can grant accesses to the right people without having to worry about an employee seeing a document on your desk that contains sensitive information.

Move into the future of scheduling and time tracking with a system that keep up with your company’s current and future needs.