Over the past thirty years, most medium and large businesses have automated and consolidated their payroll, benefits, attendance, and talent management practices into what we call human capital management. HRIS has become HCM, and that term now encompasses all the things we do to manage the relationship between organizations, people, and work.
The speed of change in business is accelerating. The way people work is advancing to the point that it is becoming hard for companies to find or grow the right skills. Fortunately, the technology we use to attract, retain, and develop talent is keeping pace.
If you haven’t recently reviewed your human capital management technology, it might be time to do so. Here are three signs that may lead you to conclude it is time for a review:
HR Doesn't Speak Finance
Finance is the language of business, and unless your people systems speak the language, their value to the company will remain in question. If you have these challenges, it might be time for a change.
- You are unable to assess and explain the financial impact of your training programs.
- You aren’t always sure if you are in compliance with laws and regulations.
- Your risk assessments are more guesswork than fact.
- You are not able to forecast a detailed headcount and cost for next year.
The ability to connect separate systems is now ubiquitous, and most vendors provide the connections for you. In fact, we now view it as an absolute necessity. Think about these factors in your assessment.
- You don’t have a single version of an employee record. It takes days to assemble a report. When your CEO asks you a question, you have to say you will get back with an answer in a few hours or days.
- When a leadership position is available in your company, you are sure you have the right talent in the business, but you don’t know who it is.
- Your people are keying the same information into one application today that they put in another application yesterday.
If your systems are making it hard for you to get work done, it is time for a change. Consider these situations.
- Your recruiters are buried in résumés, but you cannot seem to find the right people.
- Your people use your system only when you force them to do it. They spend their time working around your technology instead of working with it.
- You feel like you are working for the system.
Finding the Right Solution
Choosing a solution for your business requires much more than technology assessment. It takes a great deal of preparation to make the tool work for you. Here are the things you will need to consider:
- Your organization’s culture and purpose. These are the foundations of the way people work together in your organization. If your solution does not fit your culture and purpose, your people will not use it unless you coerce them.
- Your people strategy. You will need to assess how your organization will grow over the foreseeable future. Plan how your talent strategy will support the business strategy.
- Your digitization strategy. To a greater or lesser degree, every business process is affected by the digital revolution. The way people interact with machines, work processes, and each other is changing at a rapid pace. If you don’t have a digitization strategy now, you will need to plan it before you assess human capital management technology.
Choose the Right Partner
The partner you choose to help you along this journey will require a broad range of skills and competencies. The path ahead requires a thorough understanding of your business, your industry, and your market. Necessary requirements include extensive experience in human resources and substantial knowledge of the technology of today and how it evolved. All those are important, but the most important is the ability to understand and work.
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