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"Factors to Consider while Evaluating a Human Capital Management System"

Critical Factors to Consider When Evaluating a Human Capital Management (HCM) System

White Paper: SyncHR

Human Capital Management is defined as the process of managing an organization’s employees for them to contribute significantly in the overall productivity of organization. Organizations have their pick of these HCM solutions is making the decision of ‘which is the best’ for your organization a challenging one.

As the digital HR is a top priority and with this surge of understanding for the growing importance of digital HR, it must be acknowledged that choosing the right HCM platform is equally important.

This whitepaper highlights the 7 critical factors that must be considered when evaluating a Human Capital Management (HCM) System that would most enhance your human capital processes and support your strategies. Some of them are:

  • Native Cloud-Based Design for the simplification of the deployment of an HCM system

  • HCM Systems must be Ecosystem Friendly - API Integration with Third Party Applications

  • Automatic Calculations & Real-Time Responses- Right HCM platform must support these calculations

  • BONUS ITEM – Reporting & Analytics

These key functionalities are most important and when you put them together in an innovative and intuitive way, it transforms your entire approach to human capital management.

Critical Factors to Consider When Evaluating a Human Capital Management (HCM) System
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What is

What is Human Resource Management ?

"The Human resource management or HRM of a company is the management of human resources which maintains and enhances the organization’s human resources by planning, implementing, and evaluating employee relations and assessment of HRM policies, programs, and practices."

What is Human Capital ?

Human capital is a measure of the economic value added by the workforce. The concept of human capital can be defined as the collective skills, knowledge which an employee acquires on the job, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or their community."

What is HR Automation ?

HR automation is the process to improve the efficiency of human resources departments through automating the manual human resource processes and eliminating information-centered risks. Human Resources, along with many other departments, relies upon document-driven processes to get thier work done. For example, employment contracts must be read and signed by new employees during the onboarding process.

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