The benefits of HCM software
The world of human resources is evolving. To stay on top of a growing workforce while meeting relevant compliance, human capital management (HCM) software is becoming essential.
What is human capital management?
HCM guides an organisation’s approach to hiring, managing and developing employee capabilities. Recognising workers as individual assets rather than expendable, when implemented correctly, HCM procedures can improve productivity, support strategic business goals, simplify internal operations and enable growth.
Why do businesses use HCM software?
HCM software at its most basic level can streamline your everyday procedures. This allows HR and payroll personnel to take a more strategic role in managing their workforce.
Depending on the human capital management software you adopt, HR functions such as onboarding and payroll can be automated. This can mitigate employment risk, improve workforce efficiencies and support strategic business goals. Smart workflows can guide HR procedures, simplifying workforce management while storing critical employee data in a centralised dashboard for full workforce visibility.
The benefits of HCM software
Assuring employment compliance is correctly met can be challenging, especially across a global workforce. With the use of HCM software, compliance risk can be mitigated with tech-driven workflows and documentation delivered in-line with the latest in-country employment legislation.
EPG’s own HR technology is part of a wider HCM suite that’s been purpose-built using a compliance framework. Backed by in-country legal and HR experts, our technology ensures your employees are engaged and therefore paid correctly. This gives our clients the peace of mind that they’re payroll and workforce are totally compliant.
Enhanced user experience
Submitting timesheets, updating personal information and applying for annual leave traditionally requires emails with HR, paperwork and long waiting periods. HCM software can eliminate these hurdles as well as create one source of truth for a workforce: self-service features such as payslip access, online leave requests, acknowledging contract amendments or changing your address details places the power of payroll and HR into the hands of your employee. Managers benefit also with more advanced HCM technologies allowing them to approve requests easily with one click from their mobile.
As an employee’s first touchpoint with an organisation’s HR processes, HCM software can additionally deliver a streamlined onboarding experience. EPG’s own onboarding includes WH&S inductions and employee background checks integrated in the one journey, delivered all before their first day on the job and without a scrap of paper.
One challenge of paper records and multiple workforce management systems is data security. As part of meeting compliance, HR must ensure private employee and organisational information is secure. Human capital management software ensures data security by collating and storing all employee records and other operational information within one secure system, with varying access permissions to accommodate different management needs.
Time equals money
HR and payroll personnel can be inundated with mundane tasks often managed across multiple disconnected systems, making them time-consuming and challenging to navigate.
By replacing traditional paper-based workflows with tech-driven solutions, HCM software shifts HR and payroll teams away from tedious administration and streamlines employee processes. Letting them focus their energy on more strategic functions.
One of the main benefits of using HCM software is the consolidation of real-time workforce data for key insights around department expenditure, headcount, leave and employee onboarding/offboarding status. Access to this level of intelligence can guide an organisation’s growth and improve long-term strategic decision-making.
EPG Payroll & HR
While EPG Payroll & HR’s managed payroll services deliver assured payroll compliance across multiple jurisdictions, our HR technology is part of a wider HCM suite that transforms HR management and improves efficiencies for today’s modern workforces. Put your people first and learn more about EPG’s Payroll & HR solution.
About EPG Group
EPG is a leading provider of payroll, HR and workforce management services across multiple jurisdictions. Powerful HCM technology underpins our permanent and contingent staffing solutions, immigration expertise and managed payroll services, bringing assured compliance to businesses globally and empowering today’s evolving workforces.