Do you know which human capital management technology solution is right for your organization? Do you believe that your current HCM technology solution is able to deliver HR transformation initiatives? Are you thinking of replacing your HCM technology solution with new one? If these questions are bothering you, then Paycom’s tips for prospective human capital management buyers might be helpful for you.
According to a recent Bersin by Deloitte (News - Alert) study, 61 percent of HR professionals plan to replace their Human Capital Management technology within the next 18 months.
Paycom, a provider of Human Capital Management technology, presents buyers seven tips on selecting the right technology for their business in a new infographic . The term “Human Capital Management” is directly related to the set of practices associated with employee resource management. HCM, an important component of human resources, includes core administrative functions such as payroll and benefits administration in addition to more strategic tools for recruiting and performance management.
Stacey Pezold, Paycom’s executive vice president of operations, said in a statement, “There are many choices in human capital management software today, making it even more critical for HR professionals to step back and look at the overall vision of their workforce in order to identify their needs. For example, can your technology improve hiring and drive performance while lowering labor costs and retaining valuable employees? We want to help employers identify the best technology for their business by providing important qualifying questions to ask of themselves, their vendors and of former users of the products they are considering.”
Paycom has also released infographic to explain viewers about vetting process just as one might select a significant other. Paycom’s infographic explains that what functionality to look for in the total package, how specific attributes – like one database of record – will benefit a customer’s ability to produce insightful analytics. The company recommends one asks current and former users of vendor products under consideration.
Edited by Rich Steeves