Human Resource specialists face many challenges in today’s businesses. HR professionals must adhere to legal, regulatory, and compliance standards in addition to recruiting, retaining, and growing a competent team. Technology has the potential to empower HR professionals by providing a streamlined method for organizing and analyzing data, ultimately assisting them in achieving their goals and improving HR operations across a business. In this post, we will discuss the top HCM software in 2022, best practices, and everything you should know before deciding on one.
What Exactly Is HCM Software?
The term “human capital management” relates to how businesses manage their employees in order to promote productivity, retention, and employee engagement.
Human Capital Management Software (HCM), often known as an HRIS (Human Resources Information System) or an HRMS (human resources management system), is a software application that enables HR and People Managers to manage the whole lifecycle of their organization’s employees, from hire through retirement.
Which is the best HCM software?
Here is a brief summary of some of the best HCM software in no particular order.
#1. Eddy (Best for Simple Personalized Onboarding)
Eddy is an all-in-one HR Suite designed for small enterprises that streamlines time-consuming HR tasks and promotes employee satisfaction. Travis Hansen, a former professional basketball player turned entrepreneur, founded Eddy in 2017. The company has developed rapidly owing to its simple yet strong product, excellent customer service, and concentration on small businesses with deskless workforces.
Businesses may use Eddy to hire, onboard, manage, and pay employees all with a single piece of software. Key features include job posting management, incoming candidate tracking, and a full-fledged applicant tracking system (ATS). HR managers can use their onboarding system to generate bespoke onboarding packages, assign assignments, and easily gather digital signatures.
Users can browse company directories and save essential employee papers, write remarks on employee performance, and track training and certifications in employee profiles, which is a core function of Eddy. You can also use Eddy’s in-house, full-service system to navigate payroll operations, including support for multiple pay periods and end-of-year W-2 preparation, filing, and distribution.
Eddy starts at $8 per employee per month and includes a free demo.
#2. PeopleGurun (Best HCM for Mid-Market Organizations in the United States)
PeopleGuru is a complete, all-in-one human capital management solution.
PeopleGuru is an all-in-one HCM software designed to assist mid-market firms in effectively managing their whole employee lifecycle. Their human capital management (HCM) system is comprehensive, with integrated functionality for core HR data, payroll, time and labor, talent management, and more.
PeopleGuru’s recruiting solutions help high-growth companies attract, retain, and engage individuals while boosting HR efficiency. A learning management system, social engagement tools, a health check feature, and modules for scheduling, onboarding, performance, and remuneration are also included.
Each PeopleGuru customer is assigned a specialized account management team to assist them in meeting their business objectives. PeopleGuru is only offered to US-based businesses, though they can accommodate US businesses with Canadian staff as well.
PeopleGuru provides prices and a free demo upon request.
#3. Paycor (Best All-In-One HR Package)
Using Paycor, you can make your company’s news available on the homepage, viewable from any computer or mobile device.
It modernizes all aspects of human resource management, including recruiting, onboarding, and payroll, as well as career development and retention. Paycor has been listening to and engaging with leaders for more than 30 years to learn what they require: a comprehensive, unified HR platform, simple connectivity with third-party apps, strong HR analytics, and tailored technology and support for unique industry needs. That is why over 29,000 customers rely on Paycor to help them solve difficulties and achieve their objectives.
Paycor provides payroll management, spending management software, analytics tools, recruiting, time and attendance, pulse surveys, learning management, benefits administration, ACA, and other services. From top to bottom, they are genuinely holistic HCM software.
Paycor connects with tools for verification of wages and salaries, spending management, employee wellness, certified payroll, and FMLA.
Paycor starts at $99 + $5/employee per month and includes a free trial.
#4. Sage People (Best for Employee Engagement Functions)
Sage People includes sophisticated reporting options as well as space for staff onboarding and training.
Over the course of ten years, the Sage Business Cloud People system has evolved into a respected and progressive organization offering a full suite of people analytics solutions in the HR management software field. According to Salesforce, Sage People is the best HR and people management system.
Sage People stands out for its ease of use, out-of-the-box automation, and streamlined and versatile reporting tools. Furthermore, if you look through their worker engagement tools, you’re likely to find something you like.
Sage People received a few points less in the UX portion of the rating criterion. An examination of the tool’s organization and navigation reveals several flaws since the design feels antiquated and may benefit from some updating or fine-tuning.
Sage People features a free sample and starts at $10 per user each month.
#5. Oracle HCM Cloud (Best AI and Machine Learning Insights)
Oracle’s human capital management solution syncs between mobile and desktop platforms for convenience.
Oracle is a household name in the software industry, so you’ve probably heard of them. Oracle HCM Cloud is their answer to a complete HR solution that includes workforce modeling, an HR support desk, and talent acquisition to engage your employees and optimize operations.
Any SaaS or on-premise HCM solution can be integrated by Oracle Integration and Oracle SOA Suite. In addition to application adapters, Oracle includes technology adapters for REST, SOAP, LDAP, FTP, and file-based access. As a result, they performed well in the integration component of the evaluation.
One disadvantage is that their payroll solutions are only supported for a restricted number of countries, which may be difficult if you have remote workers all over the world.
Oracle HCM Cloud includes a free demo and starts at $13/user/month.
#6. SAP SuccessFactors (Best for scalability of add-ons)
SAP SuccessFactors provides a comprehensive set of human capital management tools, including reporting and tracking.
It was founded in Walldorf, Germany in 1972 and currently has offices all over the world. SuccessFactors is one of SAP’s many enterprise-grade systems for staff management and administration. SAP stands for “Systems, Applications, and Products in Data Processing.”
Pricing for SAP SuccessFactors is quite flexible, as you can add or remove tools as needed. A basic package will run you for less than $10 per user per month, and you can simply expand up from there. This resulted in a high score in the Value for Cost evaluation section.
One disadvantage is that training in this program can be time-consuming due to the numerous nooks and crannies to investigate. For some, the learning curve may be too steep, even if the result is worthwhile.
SAP SuccessFactors costs $8 per user per month and includes a free trial.
#7. ADP Workforce Now (Best Option for Integrating With Existing HR Software)
ADP Workforce Now includes a Dashboard for ADP Workforce Now, including company analytics, time clock, and news and releases.
It has been providing business solutions (including HCM and other HR technologies) for nearly 70 years, earning them the honor of being selected to FORTUNE Magazine’s “World’s Most Admired Companies” list for 12 years in a row.
ADP’s HCM solutions work in tandem with other major corporate software applications, as well as leading payroll, HR, and financial systems, including most ERP software (see: ADP Marketplace). ADP Workforce Now received good marks in the Integrations evaluation category due to its flexibility.
One disadvantage is that reporting can be glitchy; in my experience, names that should have been eliminated appeared on a report/analysis document notwithstanding prior termination. However, some manual intervention may be required to fix this.
ADP Workforce Now includes a free demo and starts at $10 per user per month.
#8. Workday HCM (Best for User Experience and Interface Design)
Workday HCM provides simple financial reporting and planning tools.
It is a financial, human resources, and capital management planning system used by Airbnb and Netflix. They have been named a leader in the “Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises” report for four years in a row.
Younger platform Workday has a clean, modern, and straightforward user interface on both the online browser and mobile app. This resulted in a favorable rating in the UI category of the evaluation criteria.
A few drawbacks of the software include:
- Poor interaction with equity data (particularly vesting data) and
- Business procedures may appear disconnected to some users, depending on their level of knowledge of this type of product.
Workday HCM costs $100 per person per year and includes a free demo.
#9. Rippling (Best for Small Firms and HR Departments)
Users of Rippling can make to-do lists, update personal information, and seek time off.
Rippling is a modern human capital management (HCM) solution designed to handle new hires, deductions, time and PTO, bespoke reporting, and staff changes. They are a personnel management software rated #1 in Core HR and IT by G2 Crowd and a PC Mag Editor’s Choice in 2019.
Rippling is very reasonably priced and does not scrimp on features, making them an excellent choice for small enterprises on a tight budget. This placed them highly in the evaluation criteria’s Value for Cost area. They also provide a free trial, which is an added expense.
One constructive criticism of the tools is that they could improve on reporting aspects, where data visibility can be regulated; for example, different degrees of permission for accessing compensation information by users would be appreciated.
Rippling features a free trial and starts at $7/user/month.
#10. eXo (Best Platform for Employee Social Networking)
Users of the eXo Platform can connect with other employees inside the firm.
The eXo Platform is a comprehensive digital workplace solution that connects, aligns, and engages your teams through a single interface. It is intended to meet the demands of businesses of all sizes and industries that want to improve internal and peer-to-peer communication, increase collaboration, and manage company knowledge.
eXo Platform includes a plethora of tools to enhance the working experience, such as enterprise social networking elements including user profiles, activity streams, and more. Users may quickly traverse the platform and connect with their peers via an integrated chat application as well as the option to like, comment on, and share various pieces of information.
Users may communicate, collaborate on projects, or simply locate what they are seeking by joining collaborative groups. Document management capabilities enable users to effortlessly share content via drag-and-drop, organize content in rich document libraries, and share information in the activity stream or chat application with the touch of a button.
eXo Platform integrates with a variety of third-party apps, including Salesforce, Microsoft Office, and Google Suite. eXo Wallet, gamification, kudos, chat, and other features are built in.
There are three plans available: Enterprise, Enterprise S, and Ultimate, with prices starting at $5/user/month. eXo Platform includes a community version where users can try out the platform's various functionalities. Furthermore, demos are provided for free to obtain additional information.
#11. Viventium (Best for Usability and User Onboarding)
The Viventium user dashboard includes a calendar, requests, and reporting tabs.
From applicant tracking to onboarding, time and attendance to payroll, and business intelligence to human resources, Viventium offers user-friendly software to help you engage your staff.
This software includes an easy-to-use interface and real-time updates that record any changes or additions. Customer support is attentive, and training materials are comprehensive enough to answer the majority of questions. All of these contributed to their good rating in the Usability area.
One disadvantage of this program is that reporting isn’t as customizable as it could be, and more customization choices would be appreciated. The filters for different reports can be difficult to manage.
Viventium gives a free demo and offers pricing upon request.
Who Uses Oracle HCM?
Companies that use Oracle Cloud HCM for Core HR include CVS Health Corporation, a United States-based Healthcare organization with 216000 employees and revenues of $292.11 billion; Toyota Motor, a Japan-based Automotive organization with 372817 employees and revenues of $272.62 billion; AT&T Inc., a United States-based Communications organization with 203160 employees and revenues of $163.03 billion, and AXA Group, a France-based Insurance organization with 106128 employees.
HCM Software FAQs
What is a HCM tool?
HCM (human capital management) software is an integrated suite of technology that may assist firms in managing their personnel from the time they are hired until they retire. HRIS stands for human resource information system (human resources information system).
What is Workday HCM software?
Workday HCM is a cloud-based human resource management software system that combines many HR functions into a single system. Benefits, personnel management, payroll, time tracking, compensation, workforce planning, and recruiting are all included in the software.
What is the difference between HCM and HRIS?
The primary distinction between HCM and HRIS solutions is that an HCM suite includes all HRIS procedures and systems. HCM performs services such as onboarding in addition to managing all HRIS subprocesses.
What is HCM full form?
Human capital management (HCM) is the process of employing the right people, successfully managing workforces, and increasing productivity. It has progressed from primarily administrative to a major enabler of commercial value.
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