Human Capital Management (HCM)
The solution for internal relations business systems
Human capital management (HCM) is a type of software application that streamlines human resource management activities, including talent management, workforce management, and payroll.
Essential to every company, an HCM can enhance employee experiences and pave the way for better communication and compliance throughout your entire organization.
Safely collect, maintain, and analyze your employee and contractor data in a single, secure database - accessible from anywhere with internet access.
Consolidate your processes, drive productivity, and improve the way you hire talent, onboard new employees, manage payroll and develop your company culture.
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Knowledge Management,
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Knowledge Management, Documents, Help Desk,
Wiki and Intranet, Chat, Website, Social Media and Sharing
Unite your workforce seamlessly with HCM cloud solutions.
Oracle NetSuite HCM and SuitePeople
NetSuite SuitePeople securely weaves people data throughout the Suite, giving businesses complete control over their HR processes. SuitePeople empowers managers and HR professionals to streamline employee information, new hires, employee onboarding, payroll, promotions, and compensation changes, all from a single Suite
BambooHR HCM
BambooHR is an all-in-one HR software solution meant to simplify all activities associated with human resource management. Built for small and medium-sized businesses, it takes care of all the tedious tasks and paperwork to let you focus on people, not processes. The software makes it easy to collect, maintain, and analyze your people data, improve the way you hire talent, onboard new employees, manage compensation, and develop your company culture.
Folks HR
Folks HR offers companies the ability to organize their human resources management, aiming to enhance performance while ensuring the management team operates with maximum efficiency. The user-friendly software can be set up effortlessly and provides small and medium-sized businesses with powerful HR software solutions at a reduced cost.
Microsoft Dynamics 365 HCM
With Dynamics 365 Human Resources, empower your HR department to strategize by shifting focus away from data-entry-based, monotonous tasks that can be digitized. Dynamics 365 HR is a comprehensive solution that covers all your HR needs, from recruitment all the way to benefits, vacation time and certification.
Rippling HCM
Rippling simplifies HR, IT, and Finance global employee management. The well-integrated, easy to use software can manage the entire employee lifecycle and journey. From onboarding, training, expense management and IT security, Rippling offers three modules that integrate with over 500 platforms, out of the box.
What is HCM software for?
Make your recruiting and hiring easier
An HCM system should have features to facilitate recruitment. It can help you market your job openings, easily connect with candidates, recruit on social platforms and manage employee referral programs.
- An HCM streamlines and centralizes job application profiles within the platform and tracks communications with applicants.
- It automates the creation of a new employee’s profile using data from the application profile.
- The HCM allows the creation of tasks to be completed by new employees such as contract signing, psychometric tests, etc. and to transfer important administrative documents to them.
- It helps manage and track completed onboarding sessions.
- An HCM highlights company-wide hiring statistics, including status (full-time, seasonal, etc.), department, location, etc. and helps fill gaps in the various departments. Real-time updated reports can be created.
HCM system for talent management
Managing employees and their well-being at work is an integral part of any good HR department strategy. HCM tools allow for performance management and goal tracking, relevant training, and planning an employee’s career within the company.
- A good HCM contains tools to help manage an employee’s performance by setting milestones and establishing reports during coaching sessions with the manager or mentor. It enables you to listen to the employee’s needs or prevent problems by providing support and timely solutions.
- It can help propel a career within the company by appropriately targeting training needs and opportunities for advancement. At Big Bang, with the support of their mentor, employees are encouraged to create a development plan based on their ideal career path.
- An HCM allows for the tracking of internal training as well as external knowledge, certifications and degrees. A company looking for a specific profile is therefore able to validate a candidate’s certifications easily. In the same way, if there is a notable gap in skills in a specific field, it is also possible to readjust the situation by suggesting that the employee receive appropriate training.
Centralize all Human Resources information
- HCM systems centralize employee information and documents relevant to HR departments. Employees can edit their personal information such as home address, phone number and email address.
- An HCM offers the ability to view the company’s organizational hierarchy and quickly find an employee’s manager and team.
- It helps manage vacation, sick leave and other employer-granted leave.
- It allows you to see in one click the employees who are absent or on vacation as well as the anniversaries. Integrating the HCM with applications such as Google Calendar to view this information is also possible.
What are the main benefits of HCM software?
Increase efficiency through task automation
- With the help of task automation and centralization of information needed for human resources, your business will see a rapid increase in efficiency. Task automation reduces the risk of human error and eliminates cumbersome, time-consuming manual processes.
- With the right HCM software programmed to your needs, you will have access to relevant information in real-time, which can greatly improve your talent management and overall HR experience.
Decrease employee turnover
Not only does an HCM allow you to recruit better candidates, which at the source also contributes to improving your retention rate, it also helps to:
- Raise the difficulties encountered by the employee during coaching sessions, for example, and offer adequate support.
- Offer flexible solutions such as remote or hybrid work for a better work-life balance and thus improve employee retention.
- Highlight good deeds and encourage recognition (kudos) given by colleagues.
- Offer training relevant to the employee’s chosen career path.
- Reduce turnover by offering internal promotions based on combined performance data and boost your employees’ careers.
- Offer time off once an employee has accumulated a day to improve employee satisfaction and reduce burnout.
Reduce errors with HCM
- Centralize and integrate employee data in one place for the entire company.
- Reduce errors related to pay, vacation and sick days. An HCM system allows you to account for up-to-the-minute leave entitlements.
Tax and legal compliance
Laws are becoming increasingly complex and telecommuting has opened the door to the possibility of hiring international employees. How do you navigate this?
An employee in France will not be entitled to the same vacations and their compensation will be different from that of a Canadian or American employee. An employee’s compensation, vacations and benefits must therefore take into account the laws applicable internationally, provincially and/or federally. An HCM helps reduce errors related to these specificities by respecting tax and legal compliance.
The management of sensitive data is also a subject that HCM solutions can handle. To be able to trust your HCM system in the management of personal information of your employees is essential, confidentiality and access to data must then be a central subject, and a guarantee offered by the HCM.
Here is a list of what must absolutely remain confidential:
- employee data (addresses, date of birth…)
- production data (customer, margin, working methods…)
- personal data (marital status…)
- medical data (sick leave, absences…)
- payroll data (salary, bonuses…)
- organizational data (shareholding, company assets…)
Frequently Asked Questions
How can we help you?
What is HCM?
What are HCM tools?
What is the best HCM software in 2023?
Human capital management (HCM) refers to all practices and processes related to the management of human resources within an organization. HCM software applications are used to manage talent, recruitment, training, compensation, benefits, performance and skills.
The primary goal of an HCM is to invest in human capital, i.e. employees, by increasing their engagement, and productivity and maximizing their business value. It allows you to manage the entire employee lifecycle, from recruitment to termination, through hiring and growth within an organization.
HCM tools are software applications that help manage your human resources like hiring and recruiting, workplace training, compensation, payroll, employee performance, time management, and attendance.
What are the selection criteria for HCM software?
There are several factors to consider when selecting HCM software for your organization, including functionality, user experience, price, company size, and HR needs. To get off to a good start and make the right choice, work with a consultant who specializes in cloud solutions and can guide you through the process. At Big Bang, we can help you analyze your business systems and make recommendations on the most appropriate system for you.
What should I look for when choosing HCM software?
It is important to evaluate your current and future business needs to ensure that the HCM system is right for your business. For multinational companies, you should consider an HCM that will meet the complexity of your needs, whether it is to offer multilingual support or tax and legal compliant compensation. Is it also possible to integrate HCM software with your cloud solutions such as your ERP and PSA to streamline data?
Contact Big Bang to help you make the right HCM decisions and avoid the pitfalls and risks
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