Blurred background image

Benefits of HCM Platforms

The modern workplace – whether it be at the office or living room – is rife with complexity for HR professionals. 

There’s not only recruitment, training, retraining and talent development to think about but also they have to adhere to legal requirements, specific regulations, and compliance requirements. 

In order to aid them, technology has the power to provide streamlined pathways for maintaining data and helping to analyze it, with the ultimate goal of meeting business goals. 

The most useful type of technology for HR pros is human capital management (HCM) systems. 

HCM platforms are software that lets HR and People Managers manage (both strategically and operationally) the whole lifecycle of an organization’s workforce. Benefits of HCM Platforms

The functionality of HCM platforms can range from resource management capabilities, learning and development capabilities, change management, and labor force automation. 

Is there a difference between HCM & HRM platforms? 

Both human capital management (HCM) programs and human resource management (HRM) programs track an organization’s resources. Yet there are differences between the two. 

HRMs tend to focus on the organization and facilitation of day-to-day HR tasks. 

HCMs reach beyond this remit and support the strategy behind workforce management – including development planning, change management, employee engagement, and leadership development. 

On the operation-strategy spectrum, HCM is positioned on the right-hand side while HRM sits on the left. 

The benefits of HCM platforms 

Greater engagement. According to a report by Microsoft, 41% of employees are considering quitting their job or changing their profession. With more effective employee engagement, business can attract and retain its workers. This is highly relevant given the fact that 85% of employees admit being not currently engaged in their work. 

HCM functionality, such as pulse surveys, recognition schemes, benefit programs, helps to bridge the gap in engagement. While other functionality helps to identify which employees are becoming disengaged, which lets the company quickly react to bridge the gap and demonstrate their value to the company – and ultimately create greater engagement. Benefits of HCM Platforms

Elevated efficiency. HCM software channels insightful data across every aspect of worker efficiency. With such data, organizations can analyze levels of productivity across the whole business. 

With an arsenal of accurate data, managers are capable of using it to discover areas that could be improved as well as help to direct future plans that are based on capacity. 

Increased learning. Strong learning and professional development programs have become a necessary part of modern employee retention. And this component is key given that fact that a huge 82% of employees would consider quitting their job due to the stunted career progression. 

The growth of a company necessitates the growth of each employee. And to manage and track individual training, organizations need a strong HCM platform to ensure that each worker has their own personal progression plan. 

PS: ArganoUV is one of the world’s leading HCM platform experts. Contact us to see how we can work together.

Related Ideas

If you got value from this article, you may enjoy these other articles, as well. We’re always adding value!

What is the Difference Between Offshoring and Staff Augmentation?
  • ArganoUV
  • Software
  • Technology

What is the Difference Between Offshoring and Staff Augmentation?

The differences between the different types of outsourcing and staff augmentation.
The Top 10 Enterprise Performance Management Platforms
  • ArganoUV
  • Software

The Top 10 Enterprise Performance Management Platforms

A rundown of the leading enterprise performance management (EPM) platforms.
How to Digitally Transform Supply Chain Management
  • ArganoUV
  • Software
  • UX

How to Digitally Transform Supply Chain Management

How can organizations digitally transform its supply chain management?

Latest ideas

Our latest thinking about SF Commerce Cloud.

Core eCommerce Competencies
  • ArganoUV
  • Commerce

Core eCommerce Competencies

Core payment competencies in ecommerce.
The Benefits of eCommerce for Independent Pharmacies
  • ArganoUV
  • Pharma

The Benefits of eCommerce for Independent Pharmacies

Why go online if you’re an independent pharmacy?
Key Features for All eCommerce Pharmacies
  • ArganoUV
  • Pharma

Key Features for All eCommerce Pharmacies

What are the key features of a pharmacy digital store?

How can we achieve
awesomeness together?