The right HR solution can bring your company to exciting new heights of productivity, performance and engagement. However, the wrong system can cause stress and serious workflow disruptions.
That’s why it’s vital to choose a Human Capital Management (HCM) solution that has the innovation and sophistication to empower your entire organization.
To help you make the best choice, here are five features to look for in an HCM solution:
1. Applicant tracking
Did you know that 66 percent of job-seekers said they would wait less than two weeks to hear back from an employer before “considering the opportunity a lost cause” in a CareerBuilder survey? Lengthy and inefficient recruitment processes with little interaction between employer and applicants create a poor candidate experience. An integrated applicant tracking feature in your HCM platform can help you stay on top of the entire recruiting process to minimize the chance that a qualified job-seeker will move on to another opportunity. The system lets you clearly track application progress and more effectively communicate with candidates, hiring managers and recruiters to fast-track making an offer and boost hiring ROI.
2. Online benefits enrollment
According to a recent survey by the International Foundation of Employee Benefits Plans, 80 percent of companies stated their employees do not open or read open enrollment materials. That is a disturbing statistic given the importance benefits plays in an employee’s personal and professional experience! Moving your enrollment process online where benefits information can be more easily accessed and digested can help to ensure your employees make educated and informed decisions when selecting their benefits.
Your benefits administration platform should allow employees to explore their options, compare plans and view important notifications and upcoming enrollment deadlines. With this insight, employees enjoy greater visibility into their options, and employers boost engagement with their benefits programs, while saving time and resources.
“Don’t let the valuable employee and company data your HR solution collects go to waste.”
3. Single database
Employers are governed by an overwhelming number of federal, state and local regulations. And the job of ensuring they remain compliant often falls on HR. An HCM solution that captures and stores HR, payroll, benefits and time and attendance data, and stores it in a single database provides quick and easy access to the data you need, saving valuable time and resources. To further reduce the administrative burden associated with regulatory compliance, make sure the system you choose includes an analytics and reporting tool that has standard compliance reports you can modify to meet your needs.
4. Configurable workflows
While it is always a best practice to carefully evaluate and update your existing HR processes prior to implementing a new HR solution, you shouldn’t have to change your current processes to match the technology. You should be able to configure the technology to meet your specific needs, including processes you want to carry forward. Configurable workflows allow you to automate routine tasks, notifications and approvals, reducing manual data entry and improving efficiency. When a policy or procedure changes, all you have to do is change your workflow to match the new process!
5. Reporting and analytics
Don’t let the valuable employee and company data your HR solution collects go to waste. Mine it with a HCM platform that includes analytics and reporting functions. You can draw insights from the gathered data that can inform HR strategy going forward, from the effectiveness of your recruitment practices to current and future gaps in specific skills.
With these five features, you can make sure your HRMS helps – not hurts – your organization. PeopleStrategy eHCM was designed to provide HR departments with optimal functionality and ease of use – learn more about the solution here.