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HCM War in Cloud-"Dynamic Automated solutions on mobility platforms -A Clear winner"

 

 "Modern HR" understands the importance of computing, specifically "Cloud Computing". HR leaders across the world have realized that, this is an opportunity for innovation of the new HR trends.

Growing businesses always have a tendency to pick HCM solutions which will suite  to their HR needs and as the business grows, it demands a wider range of capabilities with minimal support, deployment time & cost.

There is a term "Over choice" which means that it is very difficult to choose one  when faced with multiple choices. This phrase compliments with the current situation in HCM offerings, as a tug of war is already going on between Workday, Oracle, SAP & other players within Cloud.

Criteria for selection of HCM products has undergone a paradigm shift since the last decade. Earlier, budgetary requirements was the key factor while selecting any HCM solution ,but now business focus has shifted to automation, specifically "Dynamic Automated solutions integrated with Artificial Intelligence on mobility platforms."

Modern executives believe that customer satisfaction depends upon the employee's satisfaction and to bring employee satisfaction, modern flexible & best HR practices are required. Over the years, the perception about human resources has changed. The Modern Industrialist uses the term Human capital\Investments instead of Human resources.

Conceptually, an employee is considered as a liability to the company which should be acquired at lowest perks, but the modern HR professional believes in a different theory. They believe that an employee is an investment to the company who can transform the company productivity in a more profitable way with his vision and enhanced skills.

Timely, organizations have started realizing that HR is an integral part of the organization. Its role is not restricted to only recruitment, payroll & compensation. Higher Management are directly interacting with HR Leads. They are now taking all possible measures to enhance employee satisfaction & morale. They have understood that organization growth is directly proportional to employee growth. If an employee's career is properly planned in terms of promotion, perks, bonuses, etc. and if the organization is supporting the employee during tough times in his/her personal life, then the employee will also show his /her loyalty towards the organization for a much longer term and this employee friendly atmosphere will always attract the industry's best talents.

 

  Technology Involvement in HR practices:-

Earlier when the HR practice was completely manual, employee records were maintained manually from recruitment to retirement and this included all modules whether recruitment, payroll etc. 

With the era of computers, automation was introduced and various IT products have since then, been introduced in the market. With the origination of various software languages, there were softwares introduced in the market based on Pascal, FoxPro, COBOL, etc.  As languages like   C, C++ & Java were introduced, applications based on these were also launched for the calculation of payroll & taxes in HR applications.

Organizations had to purchase various softwares for each module which included payroll, compensation, benefits, absence etc. As technology advanced, single-stop solutions for all modules were made available & they were named as HCM products/applications & if we follow the latest trends, cloud based applications are the demand of the new era market.

If you consider only the cloud based HCM applications, even then, there are multiple vendors' available within cloud. Today, Oracle fusion, SAP & Workday are the dominating cloud based applications.

 

Human Capital applications: - Practical selection

HCM is a term associated with the human resource of any organization. Actually it defines recruiting , managing and retaining an organization's resources which is its associates\executives. The prime activity of an HR personnel in an organization is to identify the skilled matched resource who can adjust   in the organization and can be retained for a longer term for company growth and profitability. There are various activities involved for HR processes which include recruitment, talent management, Core HR, performance management, absence management and workforce management, terminal benefits which include PF/pension & above all payroll. Nowadays, there are various Cloud /Non cloud based HCM applications available in the market, but to select among them for a small & mid  size industries are  always being a tough decision.

Let us consider the issues which the very  small,small & mid sized industries  have to face while selecting any HCM application.

 Small Scale Industries Core issues:-

Conceptually there are wider options available in software market for HCM solutions, But small businesses still face a various challenges:-

1.Usually   attrition rate is quite high in Small organizations as people prefers to be recruited in Higher level organization.

  • 2.Their Budgetary requirements on HCM solutions  are always on lower side and there main focus is on Profitability.

  • So keeping in view of these issues mentioned above, even SME's should think of an HCM application as an investment for retaining best talent and should choose such applications which can be best suited within their budget ,legacy and organization requirements .

    Steps or Procedures for Selecting HCM solution:-

    HR software's can also  help small organizations to sort out their issues by automation over manual tasks of record management ,payroll, employee data etc which will not even help HR executives but also help the business  leaders to make a right decision .In the current-market, most solutions are moving toward mobility & automation based solutions.

     Various steps & procedures for selecting any HCM product based on their need is listed below:-

    • A strategic Planned approach for selecting any vendor & HCM product which should consider

      Organization infrastructure, budget requirements as well.

    • A research should be done on various cloud or non-cloud applications, the kind of automation required for mobility solutions, Interface with other technologies developed/available in the organization in keeping view what the actual organization requirements are.

    In the next post, we shall explore the various market dominating HCM solutions.


























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