At a time when technology has made much office work easier and more efficient, HR departments at most companies still rely on the same old manual processing and management that they did decades ago.

Fortunately, this is starting to change with the release of a slew of new software platforms specifically designed for streamlining the management of employees. The most comprehensive of these software suites are known as human capital management programs, which provide tech solutions for nearly all HR needs concentrated in one place.

What is Human Capital Management?

Human Capital Management, or HCM, is a buzz in the world of human resources—and for good reason. HCM leverages the information gleaned from regular, everyday HR functions to manage employees more strategically.

HCM begins when an employee is still being recruited and ends when that employee retires. Using data analytics, artificial intelligence (AI), and other digital tools, HCM allows employers to create a custom experience for each employee complete with incentives, salary management, and benchmarking. This new system helps keep employees engaged, which in turn helps with productivity and retention.

This strategic, proactive approach to HR is usually also combined with a more streamlined system for managing routine HR tasks like payroll and absence management. Combining all these pieces together creates an HR department.

What Is HCM Technology?

Human capital management puts all the administrative tools that HR teams need in one place. These programs track an employee from the recruitment process all the way through retirement, using powerful data analytics tools to help HR departments make more strategic decisions.

One of the highest rated HCM programs is UKG Ready, which incorporates all of its tools into one easy-to-use interface that can be accessed remotely from any location. UKG Ready lets HR departments shed the tedium of manually maintaining employee files and keeps everything in one, easily accessible location.

How Programs Like UKG Ready Help Companies Streamline

  • One source of truth: In a traditional employee filing system, information is usually duplicated in multiple locations. This can lead to confusion and inefficiencies. With UKG Ready, all of an employee’s information is in one place and can be accessed from multiple sources. This single source of information gives managers one universal truth to work from: eliminating confusion.
  • Cloud-based apps: When employees have the option to work from home or from a worksite outside the office, it gives companies flexibility. With UKG Ready, employees and managers can access tools and data from anywhere, so they can have information at-the-ready when they need it and not just in the office.
  • Compatibility: Implementing a new software system can disrupt the previous protocols that companies already had in place. UKG Ready is compatible with third-party apps so businesses can integrate all of their processes in one place.
  • Targeted recruiting: Recruiting is time consuming, but with UKG Ready, companies get access to trends and simple tools for getting the word out to the best candidates.
  • Strategic efficiency: UKG Ready comes with powerful analytics tools that give businesses insights into where their inefficiencies lie, helping employees perform better.

For many companies, powerful HCM tools like UKG Ready are best obtained through outsourcing HR. Contact LBMC Employment Partners today to learn more about HR outsourcing and UKG Ready, including how both can ease the burden of human capital management for your company.