Top Reasons to Transition to an HCM Solution

Top-Reasons-to-Transition-to-an-HCM-Solution

Single platform Human Capital Management (HCM) solutions are the present and the future. Companies across every industry are leveraging these cloud-based, single platform systems to transform the way they manage everything from HR and benefits to payroll, talent management, compliance and beyond. HCM solutions come with a host of benefits, and the transition process is becoming simpler and more sensible each year. Here are a few of the best reasons to make the transition to an HCM solution.

 

A Single Integrated Solution

An HCM eliminates the need to work across multiple disparate systems. It brings everything for managing your HR needs together in one easy to use piece of software. It’s all here under one roof: payroll, scheduling, attendance, talent acquisition, benefits and more. Having access to a full system of interconnected tools allows your HR team to work more efficiently, increase their level of service to the rest of the company, and drive employee engagement.

 

Efficient and Effective

Onboarding your company to an HCM is vastly simplified over traditional on-site systems. Your HR team members won’t require training on multiple systems, which shortens the learning curve and gets them up and running on a new system faster. Having all of your tools and information in the same place makes your people more productive and reduces the amount of time they need to do admin and data entry tasks.

 

Reduced Errors

Having multiple integrated systems not only reduces the workload demand of daily and repetitive administrative tasks, but it also reduces the risk of duplicated or inaccurate information entered at different points of data entry. It’s easy to have data discrepancies when your data is siloed in different systems, but with a single system, you can be confident that your reports and dashboard have the most current and accurate information available.

 

Built to Scale

If your intention is to grow your company, you’ll need systems that can grow with you. HCM solutions are designed to do just that, and there’s theoretically no limit to the amount of information that can be stored and organized in these systems. You won’t need to add or upgrade your software as your business capabilities expand because you already have a full suite of tools at your disposal. HCM systems also usually have access to a marketplace that allows you to integrate specialized solutions for your unique HR needs, further enhancing their scalability and flexibility.

 

Low Cost of Maintenance

Cloud-based software is ideal for managing costs in the long run. You won’t need to pay for multiple systems, and it’s easy to get a new system up and running. In addition, HCM solutions routinely roll out new updates and improvements which are installed automatically, meaning your system is always up to date and on the latest version — there is no need to upgrade your software versions every few years. Plus, you’ll also have access to the support staff at whatever vendor you choose to go with, freeing up your own IT department to focus on more important tasks.

 

Secure and Private Data

Modern encryptions and security features are a big reason to trust your data to a cloud-based HCM solution. You can be sure that your employees’ valuable information is being kept secure, and that your company will have dedicated resources to ensuring the privacy and security of your data. Most HCM solutions have a proven record of safety and reliability, and can reduce the burden on you to keep your information protected.

 

Increased Employee Engagement

Transitioning to an HCM doesn’t just benefit your HR team. It gives your employees access to a host of features that make their lives easier and their work experiences richer. Through always-on, mobile-friendly software, employees have access to their own personal HR information. Easy-to-use systems allow your employees to easily complete daily tasks like enrolling in benefits, viewing accruals, managing time, tracking performance, and submitting time off requests. Access to such a powerful set of self-service tools can greatly increase job satisfaction and employee engagement.

 

Implementing a brand new HCM system may seem daunting, but it’s worth putting effort towards making the switch. The advantages significantly outweigh the drawbacks, and an HCM solution will continue to provide long-term value to your growing company.

 

Interested to know more about FastPay 360, our complete HCM solution for managing and engaging your workforce? Download our free guide below.

 

Smarter Payroll Can Grow Your Business | Schedule Free Consultation

 

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