Small and mid-sized businesses are turning to modern HCM solutions to manage their payroll, HR, timekeeping, and scheduling. Cloud-based human capital management (HCM) solutions, for example, offer end-to-end employee lifecycle management, integrating HR, time and attendance, payroll, scheduling, and other applications in a single HCM system.
The Benefits of a Cloud-Based HCM Solution
There is not a faster path to total and effective workforce management than implementing a complete HCM system for your business. With all the features included in an HCM solution, you'll be able to manage employees from pre-hire to retirement with ease and stress-free. Here are a few of the benefits you can take advantage of by making the switch to cloud-based HCM.
Eliminate Payroll Errors
The importance of cloud-based payroll for small and medium-sized businesses is very high, and something easily attainable through a complete HCM system. Automation of time and attendance management, minimizing payroll processing time, and putting an end to manual payroll can all help eliminate and reduce payroll errors. Let's face it, math is annoying and can be tough for some people. Why not let an HCM solution do the math for you?
Cloud-based payroll can even help with areas such as employee engagement, and perhaps more importantly, using an HCM solution can help prevent payroll fraud.
Reduce Administrative Burden on Managers and Human Resources
Reduction in time spent by managers on administrative tasks by streamlining and simplifying work-related processes, such as time card and overtime approval, holiday requests, absence management, and other HR-related tasks.
The future of HR is paperless, and the sooner employers can make the switch, the sooner they can take advantage of the benefits every HCM solution should have.
Increased Productivity and Cost Reduction
While improving things like absence management can help improve productivity and revenue, real-time visibility of the presence, availability, and activity of your teams is achievable through an HCM solution. Employers can begin ensuring high levels of productivity and customer service with tools such as performance management.
Streamlined Processes
A single employee record and a single source of the truth for all payroll and HR-related records, ensuring data compliance and delivering simple, real-time access to reports.
Reduced IT Dependency
With a cloud-based payroll solution that is simple to set up, cost-effective, and always available, you'll no longer have to worry about buying and maintaining servers and updating software; this is all taken care of automatically — in the cloud
Engaged Employees
Employee self-service through tools such as the HCM mobile app (via mobile phones, tablets, PCs, or Kronos InTouch® terminals) is one of the best steps to take toward better employee engagement. Employee self-service empowers employees to take greater control of their working lives, meaning less time is wasted querying their line managers or the HR and payroll departments.
Employee self-service also enables workers to achieve a better work-life balance.
Simplified Employee Scheduling
There are many ways to improve the employee scheduling process, however, the easiest and most hands-off way is through an employee scheduling solution as part of a complete HCM suite. Simplification of workforce scheduling, helping managers easily put the right people, with the right skills and certifications, in the right place, and at the right time, in order to meet customer demand.
Final Thoughts on Cloud-Based HCM Solutions
As your business grows you need an easy-to-use, cost-effective, and powerful software solution to simplify the management of your workforce, helping you stay competitive and fueling your growth.
If you are struggling with workforce management and could benefit from the many tools of an HCM solution, a payroll and HR provider may be able to help. To learn more about how Inflection HR is already helping countless businesses with human capital management, contact us today.
