The Cycle Before Choosing a Service Provider
Before selecting a service provider for payroll, HR, or time and attendance software, businesses should carefully evaluate the HCM cycle. The HCM cycle encompasses a variety of crucial processes that directly impact the workforce’s efficiency and satisfaction. By considering the entire cycle, organisations can ensure that they choose a solution that integrates seamlessly across key HR functions, from recruitment and compensation to performance management and employee development.
Focusing on the HCM cycle allows businesses to understand how different HR processes are interconnected and how a comprehensive solution can drive value. For instance, systems that integrate recruitment with onboarding, compensation with performance management, and time attendance with payroll can help streamline operations and reduce the risk of errors. By considering these factors, businesses can choose a solution that not only manages each function independently but also fosters greater collaboration between departments and a more cohesive HR strategy. Below we have put together good, verses great functionalities when choosing the right HCM provider.
Good vs Great HCM Functionalities
While many systems may appear similar at first glance, the depth of functionality and level of customisation elevate a solution from good to exceptional. Choosing a service provider that prioritises the HCM cycle ensures businesses won’t be stuck with fragmented systems that complicate processes and fail to meet evolving needs. Below, we explore two key areas of the HCM cycle: Recruitment and Compensation.