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Can Human Capital Management find Holistic Solution?
Sometimes incomplete and fragmented HR data creates hindrance while making accurate talent decisions. This is where integrated Human Capital Management (HCM) solutions play an important role. It is involved in creating a unified approach towards recruitment, performance and goals, on-boarding, career development and learning, compliance, compensation, succession planning, and several other HR processes. Basically, each module is seamlessly connected to the other that allows data accessibility by the right people at the right time to paint a healthy talent landscape.
For CIOs, business managers, and HR professionals, information needs to be accurate and flawless in order to make informed talent decisions. The progressive, data-driven, and talent-driven organizations in most likeliness adopt holistic HCM systems. Instituting a holistic HCM is a complicated task and it involves investment and widespread effort, apart from going through a radical organizational change. The holistic HCM systems enable and empower employees in the following ways: They support continuous learning, encourage self-service, empower employees to map careers, enhance the employee experience, improve employee productivity, and reduce costs.
How HR Technology Enhances Talent Decisions
by Tiffany C Diehl, Director-Workforce Analytics and Succession, Brown-Forman
The aforementioned advantages ultimately lead to enhanced efficiency among HRs by taking the primary step of creating awareness for an integrated HCM. In order to understand the business needs, one should assess the present state of HR systems and processes. There should be understanding of HCM integration and listing of investments that involve terms like costs, internal and external efforts, business continuity, infrastructure, etc. Phase-wise advancement certainly helps in the successful implementation of HCM platform. Therefore, investing in integrated systems will lead to long-term benefits for managers, employees, and the organization. Judicious investment in integrated systems will also lead to long-term benefits, not only for managers but also for employees and the organization.
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by Gretchen Alarcon, Group Vice President, Human Capital Management Strategy, Oracle