Many people still labor under the misconception that HR technology is limited to payroll software. Those days are long past. Today, your HR management system is more than just a utility – it’s a platform to run your whole department and to engage with your employees.
HCM Defined
HCM is, in a nutshell, strategic HR management. The idea behind HCM is that all parts of Human Resources should be on the same technological platform. That seems like an obvious idea and it makes perfect sense, but it’s actually a fairly new concept. Payroll, Benefits, Employee Relations, and Performance Management all serve the same employee population, so why should they have different systems? Relying on one system to track time for associates only to put the data into another system to calculate payroll, and then using a fourth to calculate benefit contributions is not only wasteful but ultimately invites disaster. Your employees deserve better than that – and so do you.
How HCM Can Help You
With HCM, companies use one system for all HR functions – everything from new hire paperwork to termination documentation. HCM smooths out the bumps caused by changes in state and Federal laws, reduces the stress from completing your regular payroll process, and calms the drama of annual enrollment. HCM helps you bring all of the different parts of your system together under one umbrella, saving time and money. HCM ultimately helps your business performance, because when your employees aren’t worried about things like payroll and benefits, they can better focus on their jobs.
In most cases, HCM systems are set up and maintained remotely through a methodology called SAAS, or Software as a Service. In short, your HCM system and your data exist remotely from your office. This means that your business doesn’t have to invest in new equipment or software licenses or pay a consulting team to set it up. Your records exist securely off-site so they can be accessed outside of the office.
The best word for technology in the 21st century is “mobile.” With HCM, your employees have a powerful HR management system at their fingertips. How can your employees make the best use of this system?
Mobile Employee Self-Service
One of the most convenient and popular aspects of going to an HCM system is that it empowers your associates to access their records in their own way, on their own time. You already know how advantageous it is for associates to have early access to benefit plan information prior to open enrollment. Now imagine your employees being able to access their pay stubs and tax documents as soon as they’re needed. No more waiting for the next work day. No more giving HR advance notice that they will need the last three years of W-2s and the corresponding 1095s. No need to request their last performance review in order to write the next self-review. As you already realize, this ease of access extends to your managers, who can approve time off requests and submit their final performance reviews when they aren’t at home.
Going beyond your current employees, HCM can help your new hires complete their onboarding documentation. It can provide access to pay records and other documentation (such as W-2s) to former employees. Imagine how happy your payroll people will be when you tell them that the year-end rush of W-2 requests can be completed with a couple of keystrokes.
There are HR software providers who simply install their system and let their clients sort it all out with very little support or effort. But with the right HCM provider, you won’t be left high and dry. Commonwealth Payroll & HR provides upfront and ongoing support for your HCM customization by phone and by all electronic means. They will also help you develop training modules to bring your employees up to speed with how the new system works and what it can do for them. The service doesn’t end once the system is up and running either. Commonwealth Payroll & HR has certified HR professionals who will help answer your questions.
For more information on how Commonwealth Payroll & HR can work with you on your strategic human resources planning, call us today at 877-245-1159.
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