Most human resource professionals are well aware of the Human Capital Management (HCM) movement. The right HCM technology will streamline HR processes and save the company time and money, both of which should be considered for your ROI.
A recent Nucleus Research study included companies of various sizes and industries and revealed many noteworthy items that confirm implementing HCM can significantly impact your business.
HCM provides hard savings:
• HCM technology returns an average of $9.13 for each $1.00 spent.
• Initial implementation of cloud-based HCM solutions can cost 79% less than on premise solutions.
• Companies experience about 90% in savings for ongoing maintenance.
Cloud based HCM provides everything an employer needs to manage their workforce and is in high demand. With today’s business environment, legislation and technology, employers are challenged to do more than just issue paychecks.
- Cloud-based solutions. HCM technology has the capability of limiting overall business costs. Cloud-based HCM applications provide access from any location, with any device therfore reducing the need for IT support. Allowing multiple customers to access the same application simultaneously.
- Hardware/software upgrades. The cloud technology’s multi-tenancy architecture assures you of always working with the latest version. No long wait times in between updates and down time.
- Data security. Data in a cloud-based HCM system provides secure data effortlessly, maintaining high standards and rigorous adherence to government compliance regulations. iSolved has superior firewalls and encrypted transmissions to protect important information.
- Shorter learning curve. Using a single plug-and-play solution consolidates numerous tasks, leaving more time to focus on vital HR related issues.
- Tracking talent management. HCM platforms can cover the entire employee life-cycle, from hiring, on-boarding, to training and even termination.
- Better employee engagement. No matter where employees are located, they can access personal data, benefits information, requests for PTO and payroll, relieving HR from time-consuming data management.
Today’s employers need to save time and money wherever possible. As a result of using HCM technology you may not only streamline processes but increase your ROI.