To understand the value of this type of software, the first question to answer is, "What is human capital?" The answer is simple: it's talent. In business, your employees serve as a valuable commodity. When you need to find qualified staff and maintain correct records while they work with you, human capital management software can help with every step of the process. Systems like Workday Human Capital Management, Infor Human Capital Management Solutions and Oracle's PeopleSoft HCM allow businesses to find and retain skilled workers in all sorts of industries.
With the right software solution, you can recruit new talent and help with onboarding. Once the job starts, this same software can often track benefit and salary information, so your employees always know where to go to find pertinent HR information. Human capital management software also allows you to track payroll and overtime. It can save a business from overspending on payroll by ensuring that employees work as little overtime as possible.
Human Capital Management Solutions: What to Look For
Your human capital management software should fit in with the way you do business. Some solutions focus more on employee training and growth, while others provide more of a focus on recruiting. Check for the following features as you shop for a human capital management solution to work with your organization.
Some human capital management software comes with direct integration to job boards and other recruitment hotspots. When you create a job posting, you can use these programs to post your open position to all the different niche sites you need. Other advanced features include those found in applicant tracking systems. These features allow you to post open job opportunities to multiple job boards, sort candidates with automated filers and submit automatic responses to qualified candidates.
Many solutions come with options to help you keep track of benefits as well. Human capital management systems vary in this area. Almost all of them let you set and control basic benefit information, but the most advanced interfaces simplify this process across a variety of different career levels. Your solution should track your employee's time off and his or her health care options on an individual basis.
Payroll & Employee Management
These systems often include full payroll solutions. Even models without this feature work in conjunction with other human resources software to track employee payroll and hours worked. This allows you to efficiently manage scheduling, so you can avoid expensive overtime payouts. Some of these human capital management systems also track incentives for sales and executive talent.
There are two different audiences for human capital management systems: Human Resources should be able to find information within seconds, and employees should be able to use the system to access individual data. Employees who access their vacation or bonus information should also have access to their medical information. Some of these systems can even serve as training portals. When you need to disseminate information on a new benefits package or company-wide policy, many human capital management systems come with built-in methods for employee communication.
While every system is different, you can find one to meet the needs of your organization. Check for the features that you need, and read about all the additional options that come with each human capital management solution. Many of these companies allow for some level of customization. You can often select the features you need without paying extra for things that you don't. For more information, read our latest articles on human capital management.
ADP offers human capital management solutions for businesses of all sizes. The company developed strategies for four different tiers, including special options for small businesses and multinational businesses. These HCM solutions include benefits and payroll management. The robust solutions extend to every segment of the workforce, so your human resources team always has access to the tools they need for the job.
With ADP, human capital management starts with talent management. This includes recruitment and development. This system features an interactive dashboard that you can use to screen applications before sorting them based on qualifications. It also tracks compliance information to ensure you reach everyone without bias. This HCM software extends into evaluation as well. It tracks employee performance on the job to ensure optimum productivity.
ADP's human capital management software performs payroll calculations automatically with no need to print out every document. Employees can access payroll information electronically. This HCM software uses a cloud platform for immediate access from anywhere, and employees do not need to wait for mailed checks to see information about their compensation. They can even use their phones to access important information.
This same process applies to benefits. ADP's human capital management software accommodates the Affordable Care Act (ACA). This means your human resources team can check the company's benefits plan to ensure compliance. Employees also use this system for self-service. This limits the amount of overhead you need to spend on extra human resources staff members during the open enrollment season. Employees who already understand the benefits options can log into their accounts to manage enrollment options without having to spend extra time laboring over physical forms. This HCM solution supports as many employees as you need. It caters to small businesses with less than 50 employees and extends coverage to large, international organizations.
This human capital management software works in conjunction with ADP's time-tracking software. Hourly employees can use the cloud-based platform to sign in and out, and this software tracks all the important details. Your team can use the system to determine overtime, compliance and accrued time off.
Even the smallest organizations can use ADP. The system serves as an external source that handles the most common human resources tasks. For these businesses, the system works like an external contractor that handles all the important pay and benefits processes that occur every day. This breadth of services allows ADP to cater the size of their HCM solutions to businesses of every size.
ADP customizes solutions for all sorts of businesses. The company's human capital management systems include options for payroll and benefits management. It extends to recruitment and development as well. The immense size of ADP's options makes it a potential choice for small, midsize and large-sized companies.
Criterion creates human capital management solutions for mid-sized businesses that need full-featured systems. This software is designed to serve company leaders and individual employees alike with payroll, benefits and recruiting features. You can use this system as a full-service HR solution.
This human capital management software tracks payroll data. You decide how you want the process to work. This HCM software completes advanced calculations based on your chosen compensation. For hourly employees, the system calculates overall pay based on hours and deducts any variables you need to include. It automatically calculates overtime and tax information. The system uses the same variety of features for salaried employees. You can elect to include incentive information as well.
Criterion's human capital management solutions help you file your taxes electronically. Without the need for extra paperwork, your team can import payroll data directly. This HCM system accommodates companies that need to complete multiple tax filings in local, state and federal jurisdictions. It mitigates the risk of data-entry errors by using the same payroll information you use in other parts of the system.
This human capital management software tracks vital employment data for every employee in your organization. You can use this software to find employment status and EEO information. The software keeps contact details in a single location that you can access anywhere. It creates recurring reports based on your chosen criteria as well. This HCM solution can collect and export data as often as required, so you don't need to manually pull the same report for every weekly meeting.
Criterion offers a functional applicant tracking system to leverage your human capital. It posts open positions to your website anytime you create a new opportunity and includes an online portal for candidates who want to learn about your company. When you list your company's open positions, you can develop an internal database of potential candidates. Your recruiters can use this database as an immediate resource when a new position opens so you can reduce the time it takes to fill common positions.
This human capital management solution automatically transfers candidate information to the company's employee database once you hire a candidate. The process takes seconds, so you don't need to duplicate efforts as your team grows. This system tracks time and absences as well. Once they're in the system, your employees can use mobile devices for most common tasks. Remote employees rely on the cloud-based platform to log into work. The HCM system also allows for self-service time off requests.
Criterion created a human capital management system that accommodates businesses that want to take their HR systems into the cloud. This software provides payroll, benefits and recruitment features. It helps mid-sized businesses track data from the moment a candidate enters the system and automatically addresses common requests with a cloud-based platform.
Epicor’s Human Capital Management solution adapts to fit different types of companies. It works on a cloud-based platform for companies that need extra flexibility. You can also install it on location for a closed system that demands in-house security. The software includes features for payroll, benefits and talent management.
Human capital management software should help your team track payroll data without inconveniencing employees who need to clock in at the start of a shift. Epicor’s system serves as a flexible solution for this purpose. You choose whether you want to set the system up in the cloud or on location, and the HCM software keeps track of everything automatically. It formulates time sheets without the need for printouts and exports data the way you need it. The system can accommodate digital timesheet submissions and approvals. Managers can submit timesheets for your approval from the workstations they use every day.
Epicor’s human capital management system allows for digital request submissions. Employees can request vacation time for immediate manager approval. The same process applies to development. The HCM system also allows for personal goal tracking. After meeting with managers to discuss career development, employees can use the platform to set individual goals. The human capital management software tracks employee progress. Managers can use the same system to see how their team advances, both as individuals and as a group.
Epicor provides several applicant-tracking features as part of their human capital management solution. Recruiters can use this software to stay in touch with potential candidates throughout the application process. Clear communication reduces candidate drop-off during this period, and the HCM system helps recruiters stay connected. It also tracks candidates as they move through the process. It follows the initial application to interviews until the chosen candidate accepts your offer. The HCM software includes unique profile pages for all your candidates. Individuals can use the system to upload updated resumes to stay abreast of new opportunities at your company.
This human capital management software tracks employee salary and benefits as well. It provides this information to individual employees using the same self-service platform they use to request time off, and your HR team can use it to plan for succession. You can monitor and analyze information using this HCM software, automating your most common requests so they run on a schedule. This helps with absence tracking and performance evaluation.
Epicor’s human capital management solution allows you to keep track of every individual at your organization. The system includes a self-service platform and gives you a few different setup options. This HCM software can function as an on-site solution or as a cloud-based application. Its versatility makes the system a potential option for mid-sized organizations that need a custom HR system.
FinancialForce's Human Capital Management System delivers a full suite of features for the human resources team. This system helps with recruitment, time management and benefits, so your team always has access to their personal employment information. This software serves organizations of all sizes with a cloud-based interface. The system also includes fully functional self-service features.
Because the human capital management software exists in the cloud, it scales to serve businesses of all sizes. It supports smaller teams with simple tasks, including payroll and attendance, and expands to serve international organizations with more advanced tasks. This HCM software tracks employee time card data, automatically sorting this information into time sheets for immediate display and showing attendance and hourly information.
This human capital management system allows employees to request time off with a visual interface. By selecting dates from a calendar, employees can use the system to process requests and send them to the applicable party for approval. The automated process saves time for those who need to approve the requests, and it tracks PTO as well. You can also use this HCM system to plan for succession. The system tracks employee performance based on individual goals and encourages feedback from different leaders within the organization.
Instead of looking outside the company for new leadership positions, FinancialForce suggests that human capital theory leverages your current employees to find high-level talent. With this system, your hiring managers view current employees based on overall performance metrics. This can reduce the time it takes to fill important positions and gives your team more time to pursue qualified candidates for other positions. As you complete employee evaluations, you can track progress over the course of an entire career.
This human capital management system encourages external recruiting as well. It offers a feature that posts your open positions on multiple job boards when you want to drive more viewers to your opportunities. It also collects application information, working in much the same way as an applicant tracking system. The HCM system even tracks employee referrals. When your team posts open positions to social media, FinancialForce tracks which employee referred which candidate.
This system tracks benefits information for individual employees. They can access the human capital management software with a simple interface that shows exactly how to enroll in the available plans. It makes special accommodations for major life events and reduces the amount of paperwork needed to make changes to existing benefits.
FinancialForce offers an HCM solution that collects and reports all sorts of administrative data from your workforce while automating several time-consuming processes. The system includes tools for recruiters, payroll specialists and team leaders, and it can keep employees up-to-date on all their important information.
Infor Human Capital Management Software automates many of the processes used by human resources teams to find and evaluate talent. This includes recruitment features that track applicants through the hiring process and post-hire evaluations. This software also manages payroll compliance. The system protects your organization from inefficiencies from start to finish.
This human capital management system handles worldwide deployment. With 17 different translations and modules built for local use, it doesn't require you to patch together several pieces of software for use in a multinational company. This software combines the features of many different systems into a single interface for employees everywhere.
This HCM system includes access to Infor's employee evaluation platform. This platform relies on individual employee profiles that rate talent on 39 different criteria. This strategic human capital management software pairs the information from these evaluation profiles to the information you provide about your company to provide insight into whether you have the right talent working in the right places. It also allows for ongoing evaluation. You can set goals and encourage development with the system as well.
Infor Human Capital Management Solutions includes talent development features as well. Large companies can use the system to deploy global training, and client-facing organizations can use it to display valuable information from the inside out. To use the software as a development platform, your team assigns roles to subject matter experts. These talented professionals create content for dissemination, and the rest of the organization logs in with a basic interface to access it.
Because of the strength of the development portals, Infor Human Capital Management Software serves the education community as well as corporate entities. Its resources apply to both. The system's evaluation features apply to recruitment as well. You can use the software to track resumes and interviews before hiring. It provides support for existing employees as well. The system tracks scheduling and time off, and employees can use the interface to access information about their own benefits as well.
Infor Human Capital Management Software serves as a versatile resource for human resources teams of all sizes. The international interface supports development, recruitment and scheduling. It functions as an inclusive resource for organizations with especially large audiences.
The NetSuite human capital management system includes several different segments, and it works in conjunction with TribeHR to create a full-service HR system that's made for small and mid-sized businesses. This software includes features that track compensation and incentives used to leverage employee value, a concept used in human capital theory. An integration with TribeHR expands the HCM solution to include recruitment and retention solutions.
Based in the cloud, NetSuite tracks your workforce from the moment you first reach out to them. This human capital management system includes a full payroll system that works on local and national levels. As you track the hours and salaries of your employees, this system calculates gross and net payouts. It determines deductions as well. This HCM system automatically completes your tax filings in the United States.
Many growing companies rely on incentive-based sales talent to quickly grow revenue. NetSuite's human capital management system provides several features made specifically for these individuals. The software collects sales data and provides detailed information back to your team about what has been sold. This includes profitability and quota information. NetSuite's HCM software tracks payouts as well. This means that your top performers can see their goals and work toward the incentives you create in the system. The software organizes this information and displays it to the individual sales representatives, their managers and other company leaders.
TribeHR, which serves as part of NetSuite's human capital management solution, provides several features to help with recruitment. The system allows applicants to apply to jobs with social media profiles, which saves time and reduces the amount of drop off between those who view job opportunities and those who submit applications. This HCM system also encourages employee referrals. When you post your opportunity, you can determine who gets to participate in the hiring process. This simplifies recruitment for larger teams and keeps applicants organized during the interview process.
Existing employees create profiles in the TribeHR platform and use the same technology to communicate with others in the community. This strategic human capital management solution prioritizes this type of communication. Teams can use the platform to set their own goals. They control these pages themselves, uploading their own company photos and determining how much information to provide about themselves to their coworkers. This makes the HCM software a full-service portal for employee information. Your workforce can log in to see available PTO and benefits from individual workstations.
The NetSuite human capital management system serves as a basic solution for small and mid-sized businesses. It also includes several organizational functions, including a full-service payroll solution and access to a talent management portal. Employees can use NetSuite’s human capital management software as an individual resource as well.
Oracle's PeopleSoft serves as a human capital management software solution for large businesses that operate in several countries around the world. This system supports multiple languages and various data formats. It connects employees working in distant locations with an accessible platform and is available to every role in the company.
While this human capital management system supports a large number of employees, it does not open up security to everyone. This system supports the same type of security used by embassies and secure, international organizations. When your employees need to access data from an international source, they can use this HCM software from their workstation to maintain secure access while they find the information they need. This system includes local extensions, which allow independent offices to track payroll without having to use external software.
This human capital management software organizes benefits as well. Employees use the system to enroll during assigned periods and access information about existing plans any time they need. The employee dashboard includes self-service functions, including specific information detailing individual pension plans. This same process applies to stock benefits. Employees can log into the software to see incentive and non-qualified stock plans the same way they access information about their health insurance.
Human resources teams use PeopleSoft to manage different types of employees. This HCM software contains special features that handle freelance and contract employees with many of the same functions it uses for full-time talent. These tracking functions serve as standard features for the core product. Additional resources are available for companies who want to use the software for recruitment and workforce management as well.
PeopleSoft's talent management software includes features that help teams find and engage with talent. This product enhances the human capital management aspect with pre-hire functions that track engagement from the moment a person interacts with your team. It also plans for succession. When one of your top-tier employees retires, this system can track talent and help you build a plan to sustain performance during transitional periods.
PeopleSoft expands into workforce compliance in the same way it expands to accommodate talent management. This human capital management software tracks hours worked and helps managers mitigate overtime whenever possible. This process saves money by ensuring that workers receive enough hours to maintain full-time status without overspending on anything extra. This HCM system also maintains a current list of regulatory laws so your organization remains in compliance.
Oracle's PeopleSoft functions as a strategic human capital management system that expands to accommodate all sorts of applications. Your team can use this solution for recruitment, payroll and succession. Each part of this system serves as a building block for the overall human capital management solution.
PeopleStreme provides human capital management software that starts with talent tracking and application management. It follows employees over the course of their careers and gives you information about the internal workings of your company. This HCM system does not include payroll functionality.
Like a fully functional applicant tracking system, this human capital management software gathers applications for all your open positions and stores them until you are ready to read through them. This saves time for recruiters and can reduce the effort it takes to hire a qualified candidate. This system tracks your talent before and after they join the team, so you know about your internal resources before you start looking outside the company.
The human capital management system includes employee profiles. Your team contributes information about their career goals when they go through the onboarding process and updates profile information throughout their time on the job. This helps determine which employees remain engaged at the company and which employees may be looking to exit.
This human capital management software does not come with many payroll or benefits solutions. Instead, it focuses on the people at your company. This HCM system includes an employee evaluation function that determines areas within your business that may need attention. You can see which teams feel most challenged on the job, which individuals remain engaged every day and the areas of the company that may require additional resources. Your employee base provides this information using an electronic survey, and the HCM system compiles it for your evaluation.
Human Capital theory asserts that employees are more productive when they fit well with their teams. PeopleStreme provides special opportunities for companies that need to restructure. This human capital management software allows you to test structural setups before you implement them as a company. The system analyzes your resources and costs between several different models, so you can determine which will work most efficiently. This HCM software uses the same process for forecasting. It tests data based on the scenarios you create, so you can work with team leaders to plan for future events.
Because this human capital management system relies on employee data above all else, it serves as a powerful reporting system. Though the system does not provide many resources for payroll, it collects information about time off and absences. It uses this information to create detailed reports, so you can work with other leaders within your organization to mitigate losses. The HCM reports can show you which teams sustain the highest injury rates that result in lost time, which departments show the most absences and where you have the highest levels of turnover.
While PeopleStreme's human capital management software does not provide many payroll features, it collects enormous amounts of information about your staff. This system supports companies that want to learn how to maximize productivity, especially those that already have an existing payroll solution.
SuccessFactors built a human capital management system that prioritizes social support in nearly every task. This solution works in conjunction with an integrated payroll system and includes talent management software. With built-in compatibility for 28 different countries, this HCM solution coordinates human resources departments all over the world.
Modern human capital theory dictates the importance of an efficient hiring process. SuccessFactors automates some recruitment processes with the goal of increasing the speed and efficiency of your hiring process. This human capital management software gives you several ways to interact with candidates. You can use the system to keep in touch with potential hires from the moment they submit an application, and your recruitment team can track every step of the process. SuccessFactors HCM software also includes support for the onboarding process. When you find the right person for an open position at your company, these onboarding functions can help the new employee acclimate to the role as quickly as possible.
For your existing employees, you can use this human capital management software for ongoing evaluations. The system allows you to analyze different employees using existing metrics and data from your specific industry. These evaluations can help you create development plans for teams or individuals, and they support every part of the company. This software has several features tailored specifically for the sales department, including incentive and compensation tracking.
SuccessFactors offers a mobile platform with their human capital management software. Teams can access the dashboard from their mobile devices, and they can share information anywhere in the world. For sales teams, this means a constant connection with support teams. Your top talent can access shared resources from their mobile devices, adding strength to sales presentations and client meetings. This mobile content-sharing application exists as an add-on to the SuccessFactors HCM system. You do not need to roll out this feature at the same time as the rest of the HR software.
Because this human capital management software relies on a company-wide evaluation process, you can use it to efficiently track compensation for individuals without concern over individual biases. This includes variable compensation levels, including bonuses and other incentives. Employees can access this HCM software anytime they have questions about benefits, stock options and other specific details about their individual compensation. This HR solution also includes a library of practical advice that you can utilize to ensure compliant practices in every corner of your organization.
SuccessFactors human capital management system includes features that support recruitment, development and compensation. It has a self-service portal for all employees and allows for group interactions that support specific departments. This HCM system allows sales-driven businesses to grow quickly with a cloud-based platform.
Workday human capital management software provides a wide array of features for human resources teams. This powerful resource includes tools for just about every action your team needs to take, including recruitment, benefits management and detailed workforce analysis. This human capital management software uses a cloud-based platform, so you can access it from anywhere.
Workday goes beyond the basics with an inclusive applicant tracking system. This human capital management software is designed to leverage the information you provide about an existing base of employees for recruitment. When you have a job that needs to be filled, this software allows you to share the opening with relevant resources inside and outside your company's walls. This human capital management system collects information from every part of the recruitment process. It breaks down your applications based on where applicants applied, how far along they reach in the process, and the availability of specific skillsets across relevant geographical locations.
This HCM software comes with many features beyond the scope of recruitment. Once you find the right employees, your HR team will need to work with them to maintain efficient performance. Workday provides a full suite of benefits-management features to help with this process. You can use the software to develop a variety of benefits plans, determining eligibility and costs with a single interface. This facet of the human capital management software simplifies enrollment as well. It tracks open-enrollment periods and allows employees to make changes during major life events as they happen.
In Canada, the United Kingdom and the United States, Workday Human Capital Management Software works as a fully functional payroll solution. The system calculates employee compensation any way you need, including individual payouts and the cost of your global workforce. Outside these areas, the system works in conjunction with your existing payroll resources to collect and report compliant data however you need.
This human capital management system comes with a robust selection of onboarding functions. When you hire new employees, Workday can automatically send them digital documents to sign before they start their first day of work. Workday can build checklists for new hires as well. Throughout the onboarding process, this helps the employee acclimate and gives them access to information they need. It relies on cloud-based applications for employee time tracking, which allows employees to clock in and out without having to come back to a workstation. Cloud platforms require no installation; they can be used from the web browser you use every day.
Workday Human Capital Management Software helps with just about every employee-related activity you might encounter. It tracks recruitment events, including the sources of your most qualified applications; benefits, including enrollment events; and payroll. This robust human capital management system works with companies of all sizes and can be a good option in solving international management challenges with a cloud-based platform.