Retaining top talent while optimizing cost, time, and bandwidth is difficult. Could digital transformation be the answer?
The solution lies in finding the best HCM solution for your organization. With the right HCM software that meets your organization’s needs, recruitment and retention can benefit from digital transformation. Some of the benefits of having the right HCM solution in place include;
– Mitigates the risk of losing vital technical experts
– Easier to share cross-departmental information
– Increases and nurtures employee engagement
– Increases and nurtures customer engagement
– Improves ROI on onboarding
– Better flow of information through organizational communication
– Increased talent recruitment and retention
– Better Organizational Culture
HCM (human capital management) software helps organizations manage their workforce. Usually, an HCM platform contains solutions and automation for a wide range of HR functions, from payroll and benefits administration to recruitment, performance management, and talent acquisition.
HCM software solutions like Oracle, Workday, or SAP SuccessFactors, consist of tech-powered HR tools and applications. These HR tools help firms manage and maintain their employees through recruitment, onboarding, attendance, time tracking, leave management, training, payroll management, performance management, and various other functions.
Your HCM suite can impact your entire organization, which makes getting the decision right very important, and there is huge risk involved with making the wrong decision.
How to choose the best HCM solution for your business
An organization’s workforce is it’s most valuable asset. Recruiting and hiring employees is the primary function of any organization’s HR department. Retaining talent and ensuring that staff is the right fit for the role and organization is secondary. Any deficiencies in this process can be catastrophic for the company. The right HCM software can mitigate this risk.
When you think about what to look for in an HCM system, you may begin by asking google, “What HCM platform is the best,” or searching for ‘top HCM Software Vendors 2020’.
You will most likely see the “Top 7 HCM software for 2020” and look at the top players on G2 Crowd and Gartner. It’s essential to keep in mind that these solutions may be biased towards the vendors as most vendors pay to play in this space, and at this point should be taken as more general suggestions. These top-ranked solutions are probably the most popular selections within the industry; however, they may not fit your organization’s unique needs. In looking at a few of the “best” vendors, you may see some red flags, and begin to brainstorm ways to customize the platform to your organization’s needs.
At this juncture, you may begin to consider bringing in an HCM Consultant; however, there is another faster, more efficient, and unbiased option. Olive is the first cloud-based technology evaluation platform created for IT buyers and their teams to collaborate and streamline digital transformation.
Olive allows you to collaborate with teams on your company’s unique business requirements, evaluate the available HCM options in the market, rank these vendors against your individual business needs, and make the best choice on an HCM solution.
Olive streamlines the HCM procurement process to deliver the perfect technology match
Searching for HCM reviews on Capterra or G2 Crowd can deliver biased results as most vendors pay to play in this space. Basing the shortlist on the top right quadrant of Gartner or GT crowd will waste your time showing you vendors that aren’t relevant. Skip pointless demos and get to the right solution faster.
Olive takes this list of ideal vendors and funnels it down to a shortlist that is assured to meet the requirements you set at the beginning of the project. Olive doesn’t charge vendors, so you can be confident that there is no bias on the shortlist.
Finding the best fit HCM solution for your organization affects everyone in the business and is a long-term investment in the company’s future. However, the process of finding the right HCM solution can be long and tedious, with many risks and salespeople trying to bias the decision in their favor. Olive takes the long and tedious software procurement process and simplifies it in one app, making it easy for stakeholders to collaborate, identify, and rank requirements. With Olive, you can anonymously review all the relevant Human Capital Management solutions in the space, within the context of how these solutions meet your organization’s needs.
Remove bias, build consensus, drive deep due diligence, and innovate faster with Olive.
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Acknowledgments
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What to Consider When Choosing a HCM Software Platform
