Traditionally viewed as an administrative function, human resources (HR) has shifted to a more active role in managing a company’s most valuable asset: its employees. In line with this trend, the goal of human resources management software packages – also known as human capital management (HCM) – is to improve and streamline the management of employee and potential employee activities that are relevant to a company.
HCM includes recruiting candidates, administering payroll and benefits, managing the performance appraisal process, developing skills and internal training, and facilitating employee collaboration via social media. The HR software market has responded to this.
Statistics that provide real-time data for strategic decisions
Some HR software systems are robust enough to function as your primary HR data solution. Data is easily integrated into other software solutions, such as benefits and payroll, eliminating duplication of data and reducing the risk of human error . With pre-configured and customizable reporting and auditing capabilities, you now have the ability to meet regulatory compliance and address key HR issues within a single network. You can use this data to identify and analyze trends within your organization and generate customized reports that enable executives, managers, and front-line employees to run what-if scenarios and use robust data analysis to make more informed decisions.