Would you subscribe to multiple accounting software platforms? Deploy two different point-of-sale systems? Probably not. But when it comes to human resources, using a variety of systems is common practice.
Many of today’s HR departments have a mix of digital tools such as online recruitment and applicant tracking software, an online benefits enrollment system through their broker, and yet a separate platform for payroll.
When the various platforms don’t integrate, it can mean additional time to download and upload files, or maintain a set of spreadsheets to analyze data and create reports. Sometimes HR processes are made even more complicated by the existence of paper-based processes.
So what is human capital management (HCM), and how can it solve HR challenges like these?