If you’ve been working in the human capital management industry for long enough, then you’ve surely come to understand – effective HCM practices are the key to success for just about any business, whether it’s managing your employees pay, time & attendance, HR, benefits or otherwise.
Of course, it’s not enough just to be accurate when it comes to handling HCM matters. You’ve got to be quick and efficient, too, so your company can save time and other resources that you can reallocate to other aspects of organizational success. That’s why more and more companies are investing in a single, cloud-based HCM solution, which replaces outdated processes with secure, compliant and efficient ones.
Do you find your company needing to balance a complex workforce, with a lot of different employees in varying departments and physical locations? Do you need to replace your current struggling HR and payroll systems with one system that’s more reliable and secure? Do you need to improve regulatory compliance in HR? A good cloud-based solution can take care of any and all of the above issues.
Is this what your company needs? It may well be. But of course, you’ve got to first look for the warning signs and figure out whether this is the right move for your company. With that in mind, here are three tell-tale signs that your company might be due for an HCM makeover in 2016:
You’re using multiple systems
To run a successful business, you’ve got to tackle HCM from multiple angles. In most cases, companies have multiple systems in place to do this. One system for HR, one for payroll, and maybe another for time & attendance. With a comprehensive cloud-based HCM solution, managing these tasks is easier and more efficient with all data in one place and in real-time.
Your staff is too complex
Staffs are getting more complex with time. Companies are adding more employees with a more diverse range of skills and responsibilities – and they’re also expanding in a global sense, adding remote employees from all over the world. The numerous payroll & HR regulations can add new logistical challenges that can only be managed with a solution that houses all of these HCM functions in one system.
You’re making payroll mistakes
If your staff is getting more complex but your payroll solution just stays the same, there’s a likely result that will follow from that – too many payroll errors. These errors are unacceptable. When you compensate workers at the wrong times, or in the wrong amounts, you’re likely to alienate them and put a serious strain on employee engagement. Not to mention the compliance rules you risk breaking when your tool can’t keep up to the changing payroll regulations. You can nip this in the bud by implementing an HCM solution that gives you access to the right data every time.
Interested in learning more about an HCM solution for business with 100-500 employees, check out Dayforce Go!