By Telly Tasakos
There is no shortage of HR technology available in the market to streamline HR functions. HR Professionals might use as many as 10 different software programs in their day to day work. From recruitment software, job boards, benefits software, timekeeping systems, payroll, training, performance review, on-boarding…the list goes on. All of this technology is great; however, separate tools for each different function that falls within the HUGE umbrella called “Human Resources” can be simply inefficient, error prone and confusing!
As HR’s role elevates, identifying the right technology tools is critical to transform from a task based department into a proactive strategic partner. Utilizing an all-in-one human capital management (HCM) system gives HR leaders the ability to tackle the important talent, development and engagement challenges with one source of data to control compliance risks facing employers today. When reviewing HR technology here are 6 high-level benefits a unified HCM solution can bring to an organization:
Centralized Employee Records Management
One main benefit of a unified HCM solution is the concept of ONE master record for each employee. Using a centralized HR infrastructure accomplishes several efficiency improvements over using several disparate systems. Data is shared seamlessly in real-time across the platform. Administrators have one single source of data and history that is more timely and reliable for reporting and analysis. Employees have a consistent user experience using a single platform to drive self-service and engagement.
Checklists and Workflows
Trying to keep track of the various to do items and deadlines is time consuming and can create compliance risks. HCM solutions create efficiencies by configuring business processes into workflows using checklists to automatically trigger real-time to-do items with due dates. Did you hire a new employee? Is it open enrollment? Does a leave request qualify for FMLA? Workflows streamline business processes and work in conjunction with checklists to make sure no steps are missed, required documentation is collected, and confirm submissions with electronic signatures through the single employee record.
Notifications and Alerts
Managing compliance risk is a struggle for any HR professional. HCM solutions offer automatic notifications that can dramatically reduce compliance risk and administration time by using configured system rules that trigger real-time alerts. Did an employee skip a meal break? Is someone approaching overtime? Is a part-time employee approaching benefit eligibility? Unified HCM tools provide various tools to monitor and alert managers and administrators of potential issues in real-time to help mitigate potential compliance risk.
Employee Self Service
Handling employee requests is estimated to consume as much as 50% of HR department time when using manual systems. This can add up to hundreds of administrative hours per year simply responding to requests. HCM solutions have robust self-service features that empower employees to handle common employee requests like pay stubs, benefit plans, time off, update withholdings on their own time. And the single database architecture provides a consistent employee experience and ensures information updates/changes are reflected across the system with an audit trail.
A single database HCM will significantly reduce the time to compile employee data for reporting. Many HCM solutions provide pre-configured report templates for many of the standard compliance reports like OSHA 300, EEO-1 and VETS 100, etc. Custom report templates can be created using any data in the system. Pull HR, benefits, timekeeping and payroll data together in real-time without the time and risk associated with manual data manipulation. Many HCM solutions will also offer advanced functionality available for more complex reporting like Leave Case Management or ACA.
Reduce Compliance Risk
Managing compliance can be complex and tricky for any business today. Even for small businesses, storing information in spreadsheets and disparate systems creates barriers to an effective compliance strategy. All-in-one HCM solutions can help HR keep pace with changing legislative, union, and industry regulations to make this adherence and management easier and more accurate. Employee information is thoroughly documented from a single source to help ensure all policies are being applied correctly and consistently. Sharing data across the platform makes it easier to spot trends, set alerts, configure checklists and workflows that leverage accurate data to identify and mitigate compliance risks.
As HR transitions from a support function to a leadership function, HR professionals will need to implement HCM strategies and technology to solve the talent, development and engagement challenges facing their organizations. Solutions that automate manual tasks and provide in-depth data and analytics will empower HR professionals to evolve from a reactive department into a strategic partner aligned with the goals of their organizations.
About the Author
Telly Tasakos is Regional Manager with OnePoint Human Capital Management. He has worked in the HR and Payroll industry for 21 years helping clients configure technology solutions to solve their specific business challenges around workforce management, productivity and compliance. To learn more about our unified HCM solutions contact firstname.lastname@example.org or visit www.Onepointhcm.com.