Human Capital Management (HCM)- Features and Functionalities

Human Capital Management (HCM)- Features and Functionalities

HCM helps us plan our workforce for the future and also engages your employees with transparency and helps you work towards retention of your employees and a happy work force.  Each module should have a comprehensive dashboard, simple & straightforward UI and most critical customizable reports. 

Today every business unit's decision, plan, or process has to be aligned with the core business strategy of any Organization and unless a business unit does that it won't become a part of an Organization's strategy and one needs tools, which would help a business unit reach there. To participate and contribute in business discussions, the strategic Business tools must not only ensure smooth systems and processes, but consider the strategic impacts of talent and organization choices. It is all about creating and delivering value aligned with the organization’s objectives.

HR’s transformation over the years from administrative cost centre to strategic business partner continues to evolve and choosing HCM has become so critical today; one needs to know if the tool one chooses would act as a strategic partner for the future or not. 

Salient Features of an HCM:

§  Web-based application, with a multi-branch option, and no restriction for total number of employees

§  Direct online employee access to management of personal HR information and tracking of attendance accruals through functional organizational charts

§  Flexibility of setting up and managing all types of staff benefits and perquisites

§  Streamlines the recruitment process with full requisition management, interview management, and job offer management functions

§  Workflows, “Alert Management” and “Notification Centre” regulates organizational procedures and policies effectively

§  Automated daily back-ups in local and remote servers to ensure data security

§  Improves business processes, saves organization’s time, money, and empowers your employees through indispensable self-service and benefits enrolment solutions

§  Enable HR professionals to manage global data across a global network of organizations

§  Audit trail mechanism where needed to maintain data accuracy and security

§  Digital filing system reduces search costs

§  Global architecture system, which helps it to plug into any system with ease and has the ability to integrate with existing infrastructure

§  Provide workforce metrics that includes critical indicators & KPIs empowering your HR teams to take well informed decisions at the right time

§  BI tools brings enables employee and department productivity

Handling an organizations’ human capital is a crucial aspect and also a complex task. An organization would have a specific set of policies and processes to be followed. HCM provides a set of modules which assists a company to manage its workforce and also helps you to ensure that the specified processes are followed.

STRATEGIC HCM

HCM  allows for the HR and Management team to focus on the strategic HR functions  and  ensure that the organization is geared up to meet the business challenges and make the right  plans  for the organization

     Hiring Management -provides organizations the tools they need to attract, screen, and hire top talent globally, increasing the quality of hire while decreasing time and cost per hire. Job requirement gathering and approval process can be managed by the workflows. Approved jobs can be directly posted to the career page portal which is a part of Hiring Management in the website and also to Social Media. It also has the option of managing recruiters and recruitment agencies 

  Performance Management–a complete and effective solution which helps to record the key accomplishments of the employee in accordance with analyzing their developmental plans.  Performance strategies are recorded as the basis for monitoring and analyzing performance and these records are accessible by both the reporting managers and employees. It delivers robust functionality that helps the organization execute the self and peer reviews with absolute certainty 

     Training Management - helps elevate workforce by delivering highly targeted training of any kind. It provides a single point of access to online training, instructor/ agencies-led training, training scheduling, evaluation management and budget management

   Helpdesk Management - Employee Grievances Processes –helps businesses to streamline the employees’ problems in their IT duties.  HCM’s Help Desk module provides a solution where in just minutes businesses are able to manage helpdesk tickets, generate helpdesk reports, automatically create help tickets from alerts, assign tickets to staff, and so much more

     Meeting Management - is created with a key idea to boost up networking within an organization by providing a simple way for employee and authorities to organize private or open meetings with other employee(s) or authority. The Meeting Module is easy to implement and easy to use and accelerates an effective networking facility that will delight the employees

     Workforce Planning – Helps an organization to understand capabilities and plan budgets that align with strategic objectives and requirements by providing a simple way for looking at skill set capabilities and costs and plan on a periodic basis.

     Succession Planning - Helps an organization to understand individual and departmental capabilities and do a risk assessment based on performance data and other competencies and plan for transitions and succession

HR INFORMATION SYSTEMS

It simplifies all your complications in handling and updating the employees’ databases regularly with the HR services modules set, which work according to the organizations defined workflows.

     

Employee Onboarding - provides a single point of access for assigned authorities of different departments linked with the new hires proceedings. A single module which handles and monitors all the processes associated with the entry of a new employee in the organization.

Time & Attendance - an innovative real-time resolution, it delivers organized reports, statistics and information to help in handling and standardizing employee time in office. In a single click, all the events during the office time like working hours, leaves taken, permission, late-in, early-out, overtime, POD and more of an employee on daily or monthly basis is obtainable.

Staff Information System - covers the complete span of employees’ from the employment to exit phase and it’s totally customizable and scalable. The work status could be regularly supervised thus reducing the HR daily task, maximizing productivity, employee gratification and principally reducing expenditures.

Transaction Management -Career Elevations - track career promotions in an employee’s life cycle in an organization. The Transaction Module handles an employees’ life cycle in fields like probation, promotion, transfers to another work location, onsite work and deputation.

 Travel Management - customizable, cost effective and powerful tools that aid establishments to manage all phases of their meetings and events, from planning to travel and expenses. The tool can be considered as a complete personal travel assistant tool, which allows planning, request and monitoring trips, planning travel reservations and principally monitoring users travel costs.

 Asset Management - empowers organizations to record various assets items – organization’s equipment, furniture, software’s, or artwork. A structured solution for recording, managing, and maintaining assets items in the organization

Exit Management – It is a complete and reliable module for Exit Management of employees, providing a stress–free exit for both employee and employer. It also tracks and records employees' separation status and complete all tasks dealing with the separation process

Employee Portal - ESS portal helps the employee to update his profile, personal information and career track.  The job profile, responsibilities, skill matrix, holiday list and all the details pertaining to a particular employee can be updated through his profile in HCM.  This would inform the management and the HR team well in advance about the employee’s personal commitments or leave applications and employees requests and reduce the administrative tasks for the HR team as employees are bound to keep their personal data up to date

 Payroll and Benefits

HCM Payroll Module offers a precise and quick payroll numbers. Great flexibility is offered for describing numerous pay scales, allowances, deductions and more. The module avails you to produce complete payroll particulars, salary revisions, pay history and standard statutory reports.

Payroll Module manages virtually all your organization’s Payroll related duties, together with: 

Automated Declaration forms

•       Tax tables for any number of taxing entities 
•       Built in calculator
•           Easily manageable payroll settings for each branch office
•          Ability to define pay grade, pay slip components, pay period etc.
•          Calculations are done automatically to avoid human errors
•          Define earnings, deductions, leave, tax etc.
•         Manage salary/ pay advance
•         Handle claims and reimbursements
•         Generate various important reports reducing paper work
•         Export reports in formats such as PDF, excel etc.
•         Sophisticated dashboard with relevant graphs to support decision making
•         Unlimited number of salary components such as overtime, bonus, allowances etc.