HCM Suite: The Key To All-In-One HR Management

Most of the common people misunderstand HRMS, HRIS and HCM to be the same systems. Although the differences are minor, these are actually different kinds of HR software that vary on the basis of the diversity of functions that they can perform. For instance, the HRIS deals with the tasks that involve information and data management and the actions that the HCM suite manages will be discussed later below in the write-up. 

So, in this blog today, we will talk about the HCM suite, the ways in which it differs from the HRMS and how it acts as the key to execute all-inclusive HR operations: 

Difference Between HRMS and HCM Suite

The HRMS takes care of broader processes like Time and Labor Management, Payroll Processing and others along with the ones included in HRIS.

On the other hand, HCM, short for Human Capital Management, is the system that completely revolves around human resources of an organization. The suite helps to grab attention, train & develop, engage, retain and administer the workforce of the company.

Functions Managed By An HCM Suite

Listed below are the 8 most important features of an HCM suite which form the differentiating factors to set it apart from the other types of HR software: 

• Employee Recruitment and Onboarding

Since the first step related to employees is hiring, the first system required for the same is a recruitment management software. When we talk about an HCM suite, it effectively manages the steps involved in hiring and onboarding of the new employees. Tasks such as Applicant Tracking, Job Ad Posting, Interview and Test Evaluation, Candidate Shortlisting among others can all be managed using this feature of HCM suite.

• Employee Performance Assessment

Next, when the employees undergo induction and orientation sessions, the real work begins. They are assigned with KRAs (daily responsibilities) and KPIs (Key Performance Indicators) as targets to achieve in order to promote/appraise the employees as per their performances when the time comes. Now, this function of the employee process assessment is administered by the so-called HCM suite.

• Reporting and Analytics

This is a common function that is a part of all other types of HR software as every task needs monitoring, review and analysis. The reports generated from the insights are used for business advancement, strategy formulation and forecasting.

• Position Control Mechanism

For all the regular employees, position control is a mechanism that comes under the HCM suite features to track and assess information on the basis of position rather than the employees. 

• Expense Management

This one is a crucial part of the employee lifecycle. All the expenditures starting from domestic to international traveling are recorded in this system. The expense management software India has, is capable of carrying out and managing almost everything that concerns the employee expenses.

• Succession Planning

The advance planning and management of the hierarchy of the organization that emphasizes avoiding the lack of suitable candidates for each position is called succession planning. It automatically identifies and assesses new leaders to develop and prepare them for a new vacant position in the company. 

• Global Support

This feature of the HCM suite is used to streamline the global business intelligence, ERP software training and outsourcing services. It is basically focused on the coordination between onshore and offshore teams to gain maximum efficiency of global tasks.  

• Human Resource Services

Now, the last one is the most elaborate function of the HCM suite. The all-round administration of the HR department that controls core HR functions is managed using this feature. It includes recruitment, training, performance, payroll, employee engagement and retention. Moreover, the HR services and consulting opportunities provided to an outside party through the HR software also comes under this section. 

What Is The Impact Of WFH On Parent Employees?

Over the last decade, there has been a rapid increase in remote workers with more organizations adopting the WFH policy. Also, it is worth mentioning that advanced technology has enabled companies to easily manage their remote employees. For instance, HR and payroll software have helped hundreds and thousands of HR personnel to process payroll from anywhere in just a few clicks.

Especially, due to the increase in the small business, there has been a high demand for remote employees as it’s a cost-effective way. A large number of these employees are parents because of apparent reasons. 

So, let’s know the impact of remote working on parent employees!

Challenges Of Parent Employees 

With time, the overall household has experienced dramatic changes. Unlike the time of the 60s -’90s, people today live in a world where mostly both parents work. And because of parents’ daily workload, often children spend the majority of their time in schools, tuitions or at home alone. 

Secondly, a change to the household is the rise in the number of single parents making things even more difficult. A single parent manages both his/her career and his/ her kids all on their own. 

The Rise of WFH

Considering the aforementioned challenges, it is clear that remote work helps parent employees to perfectly balance their careers and spend quality time with their kids(s). Plus, it greatly helps employers, too. How? As mentioned earlier, the economy has a large number of small businesses. Often, they are the ones who need to hire more but lack of funds becomes a constraint. This is when remote work comes into play. Here are some uncanny facts- 

• Several studies have shown that businesses save up to $11,000 per employee every year by remote work. 
• In addition to this, there are more cost-savings due to fewer sick days with remote employees.

Now talking about parent employees, WFH is both motivating as well as rewarding for them. The biggest challenge for parents is the lack of time for their kids after putting in full time at their workplace and commuting. The parent employees can -

• reduce commuting time, stress, and frustration.
•  Enjoy flexible work hours as well as take breaks whenever required. 
• Take time off to devote more time to their children such as attending school functions, etc.

Eventually, a parent employee may feel more comfortable while working from home as they can nurture their child easily this way. At the same time, they can even manage office work more efficiently. And if one relies on HR solutions such as payroll software or HR software then no employee will face any issue to carry out their respective tasks as well.

 In fact, according to some reports, remote employees often devote more hours in a day due to the accessibility of their job from home and the flexible time hours in which they can complete their work. 

The Future of Parent Employees 

As mentioned previously, technology is surely making the whole remote work concept more efficient and meaningful. Today, we have a number of tools and software available that connect people in no time.

The major reason why I decided to pen down this blog is that most of the countries are under a lockdown today and a good number of employees are mentally stressed at this time, too. I hope this blog helps every employee, be it a parent or single, to focus on the brighter side of this difficult time. Parent employees can actually utilize this time by taking care of their children and managing their work peacefully. And by the end of this lockdown, may every parent employee discover their actual comfort zone. And once they understand that WFH literally brings out their most productive self, then no employee should hesitate to discuss the same with their manager/employer. 

WFH has so far proved to be a great way to balance work and personal life, helping every employee to put their best foot forward. So, employers and HR managers should start considering remote working more to acquire effective employee engagement and productivity. Also, do not forget to purchase a comprehensive HR and payroll software to make the whole process much easier.