The decision to research and evaluate a human capital management (HCM) solution for your organization is a big step. Keep it clear and simple with this HCM planning roadmap.
Understand the evaluation process and how to select the best
Human Capital Management (HCM) solution for your organization.
There are many possible reasons why your existing HCM solution may be incapable of moving your business forward. Perhaps you’re not using tools as effectively as you should to help manage changing environments. Or, maybe you lack the analytics necessary to identify and address hot button talent areas, like why employees leave your organization. Once you’ve documented these issues, you need to secure key stakeholder buy-in, which can be a challenge in its own right without a sound approach to drive consensus.
How do you choose from the Human Capital Management (HCM) solutions available in the marketplace when many of them offer similar capabilities? Look for vendors who have identified trends in workforce management, employee engagement and retention, global corporate expansion and compliance, and technology-assisted data analytics. Based on these learnings, they may have developed scalable global solutions that allow for personalization of HR tools, more effective team collaboration, and data analytics to drive strategic business growth.
Once you’ve identified how your organization’s key challenges are holding you back, as well as the areas of opportunity that you’d like to address, you can start exploring how a new approach to HCM can help solve those problems and support your growth goals. The following are common growth and challenge areas for enterprise-level organizations and corresponding HCM features you can leverage in these areas.
Now that you’ve identified what you’re looking for, you need to determine which HCM vendor can check all of the boxes for the technical and functional requirements your organization needs. In addition, there are other important factors to consider such as vendor stability, implementation process and support, and cost, just to name a few. As you create your shortlist, be sure to look for a partner that goes beyond technical consulting and support and truly provides subject matter expertise and advisory services to help you get the most out of your investment.
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