Technology ArticleHR and payroll professionals know one of the best ways to grow your strategic partnership in the business is to make a visible impact on your company’s bottom line. Embracing an innovative human capital management (HCM) solution is one way to consolidate and streamline your HR and payroll processes to help move your company forward. Not to mention, a holistic HCM solution can help you better engage employees along the way.   

 

Top Considerations When Evaluating an HCM Solution

HR and payroll professionals know one of the best ways to grow your strategic partnership in the business is to make a visible impact on your company’s bottom line. Embracing an innovative human capital management (HCM) solution is one way to consolidate and streamline your HR and payroll processes to help move your company forward. Not to mention, a holistic HCM solution can help you better engage employees along the way.

When determining the best way to achieve your company’s HR and payroll goals and improve HR’s visibility and impact, consider how investing in an HCM solution could make a difference for your organization.

The financial imperative

Financial imperative.jpgInvestments in new technology can seem time-consuming and expensive, but when evaluating HCM solutions, it often becomes clear that the return on investment for your company will be well worth the effort.

For most companies, in addition to achieving a notable ROI, the best HCM solutions help align the company’s overall strategic and operational goals by streamlining process automation, reducing payroll processing time and eliminating mainframe/interface processing.

On the operational side, products like Ceridian Dayforce HCM help organizations maintain compliance with various federal and state laws, automate schedules, encourage employees to interact with the system, calculate gross-to-net pay on demand, preview and audit payroll in real-time, and more.

Engaging employees

Employee engagement also continues to be a 2015 top priority for HR leaders, which is no surprise given the way engagement impacts profitability. Being able to engage and communicate with employees at every opportunity is a must, and one important communication tool that can get overlooked is employee self-service. According to Integrated Solutions for Retail, 61 percent of retailers have yet to implement employee self-service, even though employees who use self-service are happier and more likely to engage.clothes.jpg

By providing employees with a system that satisfies and engages, retail clothing company Aéropostale has found that leveraging Dayforce HCM has had a direct impact on the way associates serve customers and overall productivity because the tool allows employees and managers to see their schedules, ensure predictability and fairness, make time-off requests, reference their earnings statement, and more.

Factors to consider when evaluating an HCM solution

Taking the leap to a new HCM solution can be overwhelming. As you evaluate the various options, keep these five factors in mind, which include best practices from Ceridian customer Aéropostale, which they shared in a recent webinar, as well as suggestions from the Small Business Chronicle:

  1. Cost effectiveness – Work with your internal stakeholders and vendor partners to crunch the numbers on your investment. The right solution will not only save you time and money, it should also make most everything you do in your work life better.
  1. Staff expertise and vendor partnership – Your HR and payroll teams are the experts on your company and processes. It’s important that you partner with a vendor who can continue to develop relationships within your organization and truly work as a team to help you succeed.
  1. Growth and scalability – As your business grows, can the solution scale with you?
  1. Change management – Whenever you implement a new process or tool, there are some adjustments that need to be made. As you go into a purchase, it is important to know what you want to gain from it and to be adaptable to the inevitable changes that will come with getting where you want to go.
  1. Employee impact – Ultimately, the solution you choose should make your employees’ lives easier. Factor in employee training and ensure employees will have the support and tools they need to be successful.

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