What is HCM and how does it make your business better?

Few professionals wear as many diverse hats as an HR manager: recruiter, compliance officer, trainer, culture creator, policy author and enforcer, benefits administrator, payroll manager, peacemaker, and sometimes, party planner. The list goes on. The number of responsibilities an HR professional has can be dizzying at times.

The consequence of falling short on any of these critical human capital management tasks can have legal implications—in the form of lawsuits and audits—as well as a negative impact on your organization’s bottom line. Take a poor hire, for example. According to a 2017 CareerBuilder survey, companies lost an average of $14,900 on every bad hire in the last year. 

When the people part of your business is in chaos, your entire business suffers.

Human capital management (HCM) is today’s industry lingo for the processes that a company uses to manage all of the functions that come with hiring, managing, and optimizing its workforce.

Strong HCM doesn’t just manage these functions and store employee data, but it is strategic, giving you a game plan to hire and retain the best talent, maximize productivity, and harness people power to help your business win. But HCM without an accompanying strategy is like drawing straws to pick your World Cup starters and ignoring all of the stats you have from the season.

Undoubtedly you already have some type of HCM process in place, but it’s not working for you like it should. It could be shelves of file folders full of personal employee documentation taking up valuable office space and unprotected from loss or theft. Or maybe you have all of your employee data spread out in various portals that you have to bounce around in to gather information on one employee, sucking up your valuable work time. It could be that the process for an employee to request a day off feels like it’s takes days in itself.

What if someone could wear one of these hats for you and streamline most of your HR functions into one seamless portal?

Having a payroll provider in your corner can be a huge win for your small business. Shedding this hat can relieve you or your HR manager from the stress and lost time associated with managing your staff hours, staying current with ever-evolving labor laws, and ensuring that the countless required forms are in-house and updated. That’s time that could be invested in profitable tasks like employee engagement or development, or maybe just better work-life balance.

Payroll is only the tip of the iceberg and most payroll providers offer customized tiers of HCM packages that may include:

  • Applicant tracking
  • Benefits administration
  • Performance management
  • Electronic onboarding
  • COBRA administration

Today’s single software system gives you access to this critical information anytime, anywhere in one paperless portal, as well as  offers game-changing analytics that help measure your team’s performance and give you a competitive advantage.

Patrick understands that business owners have a mountain of tasks, and possibly paperwork, distracting them from the bigger picture of growing their business.

That’s why we offer software that’s both simple and robust enough to tackle your payroll monster, along with superior customer support that the national providers can’t match.

Let us show you how our pain-free payroll packages can streamline your HCM functions and free up your time. Schedule a time to discuss which option might be just the game-changer to help your business thrive, not just survive.