2 Compelling Reasons to Invest in HCM Technology

Human capital management (HCM) solutions have evolved over the years from systems of record to sophisticated tools that can maximize a workforce’s productivity and profitability. 

Providers once advertised…

“a single record for each employee”

“seamless integration”

“fewer errors and redundancies”

“lessened administrative burden”

While all are very compelling reasons to invest in human capital management technology, today’s sophisticated platforms provide these benefits and much more. Here, we examine two.   

Mitigate Non-Compliance

Maintaining compliance with today’s ever-changing employment laws is a universal concern among employers, big and small. With good reason.

According to research

U.S. companies have at least a 10.5% chance of having a charge filed against them.

The average cost of a lawsuit is $160,000 and takes almost a year to resolve.

Cloud-based HCM systems store and maintain all employee data in one place, which is essential to maintaining compliance. Having this data accessible 24/7 makes it easier to spot trends, set alerts, and configure workflows to help you identify and flag disparities.

Time and labor management software helps employers effectively calculate sick time accrual without relying on manual processes. It can also help satisfy the record-keeping requirements of sick leave laws.

Executive dashboards provide a high-level snapshot of a workforce’s demographic makeup, job titles and compensation packages in real-time. This information is essential in helping maintain adherence to pay equity laws.

Finally, standard and ad-hoc reporting capabilities allow for the running of reports necessary to analyze data and make critical decisions. 

Better EX and Higher Retention

Creating a positive employee experience (EX) is critical to an organization’s success. A favorable EX results in a higher level of productivity and a lower incidence of turnover.

Many HCM tools can enhance EX. We’ll cover just a few, beginning with talent acquisition.

Applicant tracking software impacts EX in two ways. First it helps source better-suited candidates that fit the company’s needs and culture. Second, it provides ease of execution when it comes to applying for a job, which candidates expect. Technology makes the process faster, easier, and more streamlined. Employees carry that first impression of the organization throughout their career.

Once hired, onboarding platforms keep the positive momentum going. The ability to complete necessary forms online spares new hires from the dreaded first day paperwork.

Learning management systems (LMS) can provide the necessary training and career development employees crave. According to research conducted by our technology partner, isolved, 44% of employees say learning opportunities are what keeps them engaged at work – the top response.

Last, but far from least, employee engagement platforms are the solution for organizations who are looking for a comprehensive tool to connect and revive their workforce. Features like social media feed walls, survey functionality, crowdsourcing, goal-setting, and next-level performance reviews ensure employees are collaborating, communicating, and connecting.  

Need Another Reason?

The experts at Counter Point HCM are ready to assist with all your compliance and talent management needs. Schedule a call today to discover how to leverage technology to meet and exceed your goals.

What to Demand from Your HCM Solution 

When human capital management is done right, the result is an employee experience that helps recruit, retain and, ultimately, drive revenue. This upside to human capital management is why 40% of HR leaders are planning to invest in a platform this year.

HR leaders want more from their technology. Not only do they want better service and better software, but they also need it to be more comprehensive. A scalable and secure human capital management platform that is easy for employees to use, gives business leaders access to data, and is intelligently connected is what HR leaders want today. With the number of providers and solutions on the market, HR leaders can shop around to get what they want.

Our technology partner isolved surveyed 500 HR decision-makers to uncover what they expect from a human capital management (HCM) platform. Their responses are exactly what you should look for when vetting HCM solutions.

The technology is a full end-to-end platform 

The employee experience is top priority for HR leaders. Organizations make the mistake of evaluating platforms with only payroll in mind when payroll is only one part of the employee experience. To truly reap the benefits of intelligently connected HCM, you need to focus on the entire employee life cycle. Your platform should connect and streamline every aspect from onboarding to offboarding.

It grows with the company 

You may be thinking “all I need is payroll right now.” But as your business evolves you need a platform that can address your needs. An HCM platform that grows with a company is key, as is a service provider who can implement a staged roll out of what is needed now and suggest what is needed tomorrow. It’s a mistake not to choose an HCM platform that prioritizes being future-ready, today.

It’s easy for all employees to use 

Employees today expect the technology they have at work to perform like the technology they access in their everyday lives. Insist on a platform that offers a modern, intuitive, and user-friendly experience. It must also meet the expectations of the future. “Siri, show me my pay statement” is right around the digital corner.

It reduces human error 

Just two payroll errors can cause 49% of employees to quit their job. Payroll is essential and you can’t afford not to get it right. With a single, connected platform information is entered only once. Data flows from system to system reducing the chance for administrative error.

It’s cloud-based 

A cloud-based solution is accessible through the internet and requires virtually no maintenance. It’s less expensive too since it eliminates extra hardware purchases and the IT support to maintain it. Plus, all your information is accessible to you 24/7.

It provides actionable data 

For HCM to be a strategic function, you need accurate workforce insights that can help you improve organizational efficiencies and profitability. Your platform should provide you with reporting and analytical HCM tools that are easy to access and understand.

An intelligently connected HCM platform brings together every part of the employee experience, from hire to retire, to ensure there are no employee experience gaps for better recruiting, retaining, and revenue.

Counter Point HCM can meet—and exceed—the demands of today’s most discerning HR professional. Schedule a call today to explore what our HCM solutions can do for you!

Removing the Fear from HCM Software Implementation

We often hear “What we have is working fine. Besides, we don’t have the time or resources to switch providers right now.”

With all the technology and tools on the market today that can streamline your human capital management needs there is no reason to settle for fine. The benefits of these solutions—including an increase in accuracy and a decrease in redundancy—far outweigh the minor inconvenience of switching to new software.

To help ease our clients’ fear of conversion we are completely transparent in our process. We detail what they can expect and how long the process will take. We recognize that no two implementations are the same. Our Transition Team is trained to expect the unexpected and work to uncover all the important details necessary to make our client’s onboarding experience a positive and successful one.

Below is a step-by-step breakdown to help demystify the process.

Step I: Consent

Once the decision is made to engage Counter Point’s services, your HCM Consultant will provide you with a checklist of items, have you e-sign our terms & conditions, discuss timing, and ascertain key contacts within your organization. They will then introduce you to your Trainer.

Step II: Training

Your Trainer will set a timeline based on your specific needs. To keep track of pertinent deadlines and important dates we utilize project management software called Zoho Projects. This tool ensures no detail is overlooked.

At that time, your Trainer will provide you with credentials to access an online training hub that houses a host of tutorial videos and other resources for you to view. These will help you make the most of the live, remote training sessions that may follow.

Step III: Implementation of Time and Labor Management (TLM) and Payroll

To implement TLM, your Trainer will work with you to gather all necessary information including your specific PTO and overtime policies, rounding rules, lunch/meal break times, schedules, etc. These rules are then set up in the system and training of the TLM platform is scheduled. TLM will be set up well in advance to your first payroll processing.

For payroll, your Implementation Specialist will schedule time to extract data from your current system. An automated migration tool that requires no manual manipulation is used for this process. Your employee and company database will be built and configured to your company’s specifications using this data.

To ensure accuracy of your first payroll, your Implementation Specialist will run a parallel payroll before processing. All year-to-date and quarter-to-date earnings for each active and terminated employee will be entered to ensure that taxes, wages, and deductions are in perfect alignment.

Step IV: Implementation of HRIS and Other Platforms

For implementation of HRIS, just like with TLM, we will work with you to gather all pertinent HR information related to your current onboarding and performance review processes and policies, along with your desired employee self-service elections. Then, like TLM, you will be thoroughly trained on the platform to ensure your comfort.

If you plan to add other platforms within our comprehensive human capital management system, like Applicant Tracking, COBRA Services, Learning Management System (LMS), and Carrier Connections, that will follow next.

The Support Doesn’t End There

Implementation is just the beginning of your relationship with Counter Point. By the time your first payroll approaches, you will be assigned a dedicated Customer Service Representative. They will become very familiar with your organization’s unique needs and will assist with any concerns or questions you may have. Additionally, you will receive methodical follow-up from your Human Capital Management Consultant to ensure your needs are met in a timely and efficient manner.

Finally…

Your role is essential to a smooth transition. Merideth McGinley, Counter Point’s Implementation Manager, recommends the following advice:

Be proactive in providing information. By knowing exactly how your business operates, we can get you up and running quicker, and help you make the most of the software.

Embrace the change. While your team may experience some minor inconveniences now, keep sight of the big picture. Soon you will be reaping the rewards and experiencing greater productivity as a result.

Communicate with your workforce. Let them know about the change and how they may be affected. Be prepared to answer questions and manage expectations. We’re here to help if you need us.

To learn more about how Counter Point HCM can ensure you experience a smooth transition, request a call today!

The First Step in Evaluating HCM Solutions

Selecting a human capital management (HCM) solution to help manage the workforce needs of your organization is critical to your success. When evaluating the many options available, it’s likely you’re first drawn to the software and its features. And it’s easy to get caught up in the many tasks the software can help streamline, including:

Recruiting – Applicant tracking systems make it possible to post jobs, collect applications, communicate with candidates, and more.

Onboarding – Paperwork is eliminated and new hires are more productive from day one.

Performance Reviews – Managers are alerted and notifications are sent regarding the steps to take.

Reporting – Standard and ad hoc reports on any topic can be generated on demand.

Benefits Administration – All data is captured electronically eliminating the need for paper enrollment.

Tracking Time and Attendance – Collect, manage, and process time and attendance data with accuracy and ease.

All are compelling reasons, but none matter if the company that provides the service and support isn’t trustworthy, accountable, and experienced.

Assuming all software is equal, how do you decide?

The fact is, most cloud-based HCM systems are fundamentally the same. They can be accessed from anywhere at any time, require a single login, provide added security, eliminate the need for multiple systems, and help manage the employee lifecycle. You need to vet the providers to find the one that’s right for you.

What to Consider When Vetting HCM Providers

To find the one that best suits your organization, consider these four factors:

Security

Your employees’ sensitive data must be shared with your HCM vendor, including social security numbers, birth dates, and addresses. With the number of data breaches on the rise, make sure to evaluate the security measures they have in place. 

Ensure that the provider is up to date on security and data storage management. Look for those with a current SOC1 (SSAE 16/18) or SOC 2 audit report which demonstrates their commitment to security compliance.

Customer Service

When evaluating options, pay particular attention to the providers’ approach to customer service. When something goes wrong or you have questions, you will want to know who and how to obtain support quickly.

Questions to Ask

How do I seek help? Some providers have call-in centers while others offer a designated customer support representative, the gold standard in customer service. Each time you call you’ll get the same support person and you won’t waste time having to relay the same information to different people.

How do you manage requests? Providers that utilize help desk software like ZenDesk, Freshdesk, and Help Scout are better positioned to manage and resolve customer issues. These tools offer ticketing and multi-channel support, robust reporting, and analytics to aid in customer support.

What is the turnover like for your customer service representatives? Be wary of high turnover. Nothing beats a long-lasting relationship with the person assigned to help you.

Implementation and Training

Your provider should take you through a comprehensive demonstration of the software and offer periodic follow-up sessions to help bring you up to speed quickly. Ask what resources are available if you need help. On-site training? Tutorial videos? Online hubs? Webinars? All should be considered when choosing a provider.

Ask about their approach implementation. To ensure a smooth transition there should be a detailed plan in place and you should have access to a designated contact person during the process.

Culture

Last but not least, your vetting process should include a cultural fit assessment. You want to work with a company that is flexible and forward-thinking in terms of technology, security, and procedure. You should view your HCM provider as a partner, therefore you should choose one whose values align with those of your organization.

Is Counter Point HCM right for you? Schedule a call to find out.

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