What is happening in the HCM world?
Behind every great company is a HR Manager; a HR team and possibly an army of employees working on the chosen Human Capital Management (HCM) platform. Whilst there are many HCM solutions to choose from. It does not change the fact that organisations will be looking to expand their teams throughout 2017 and well into 2018, as new applications are to being added to these platforms, to increase efficiency and effectiveness.
It is the aim of global giants such as SAP SuccessFactors, Workday and Oracle, to expand their solutions into the cloud. And first up on the agenda is to give customers the ability to view the automated processes; enable drag and drop interfaces; mobile HR systems and intelligent services. So what else does HCM have in store for us?
HR & IT as one
It seems recruitment will see a huge increase across the next 2 to 3 years, as HCM and digital technology will combine to work as one. The aim is to allow HCM platforms to automate their solutions and offer a quick ‘self-service’ for business managers, lowering the HR admin responsibility, and in theory allowing them to focus on the people and skills within the organisation. Furthermore, HCM solutions will provide better business reporting tools and talent management solutions that identify and reward employee performance. And, from a technology point of view, implementation times will also be greatly reduced through the quick succession of cloud deployments and easy integration.
All of this goes to demonstrate that HCM is moving into a new generation of digital. So far, we have already seen this with SAP SuccessFactors teaming up with Microsoft’s cloud technology (Azure) to deploy their solution to the third party cloud. And, we probably can expect to see more alliances happening. Plus HCM is now starting to filter down to the SME market, which is great news for them, as the burden of HR management is lifted.
In a recent article, Mandisa from ITWeb said that “Digital technology enables a business to deliver results fast, whether it be in recruitment, on-boarding, performance management, talent management, learning and development, career and succession management, and recognition and rewards. Present employees these days, and certainly those of the future, are unlikely to wait long for companies to provide valuable feedback and assessments of their performance.”
This is a very interesting point. We are already seeing great ‘reward and recognition’ platforms on the market. And HCM platforms are really helping to drive this forward, as we are already seeing more powerful and effective analytics behind the automation. We have a lot to thank the HCM giants for, as they enable new angles of delivering HCM services, that allow employers to swiftly engage with employees. Social media, mobile apps, internal CRM and IoT tools can all be used to optimise working environments and productivity. Tracking efficiency, talent management whilst dishing out rewards in return.
The change is coming!
It is estimated that approximately 87% of organisations are currently re-designing, restructuring or considering a revamp of their HCM functions. A great example of how HCM is being transformed is by a company called iSystem, LLC whose integration allows Evolution HCM, to offer a service to their employees that automates communication of employee benefit enrolment.
This in turn will have a knock on effect, as more companies will struggle to find the right HCM skills within their organisations. Here at Resource on Demand, we are on the front line of the ever expanding HCM world, sourcing top talent, with phenomenal skills. The change is coming…but don’t panic, we have it covered!