Gartner recently published their latest forecast for the global Human Capital Management (HCM) software market, predicting that it should grow about 10 percent annually through 2020. This growth is being led by providers who have embraced the best new technologies and is being fueled by the continuing adoption of mobile-focused and cloud-based systems.
Since Microsoft’s acquisition of LinkedIn there have been rumors that the software giant might be moving toward the creation of their own new human capital management application. Certainly Microsoft is a big believer in HCM; in November Microsoft announced that they were implementing the full SAP SuccessFactors HCM Suite, for the management of their 114,000 full-time employees.
Microsoft opted for the SAP HCM open platform strategy in part because it could deliver an enhanced employee experience, with a mobile-first, cloud-first focus. This approach is designed to attract fresh talent and foster employee engagement. The cloud-based SAP SuccessFactors solution promises a consumer-oriented user experience that can be delivered to any device of your choice.
Rock Hill, South Carolina Adds Performance Management
Rock Hill, South Carolina is a growing community of some 70,000 citizens in the north-central part of the state. Rock Hill provides electricity, water, and sewer services within and beyond their city limits. To manage the city’s human capital needs across departments, including HR, finance, public works, utilities, police, fire, and urban development, the city of Rock Hill needed a unified HCM.
Rock Hill selected a performance management platform from Anaplan, a popular small business solutions provider. This will enable the city to unify human capital management, financial planning, and operational modeling. With Anaplan, Rock Hill will have one platform that can handle employee performance management, economic development analysis, and citywide budget planning. With their unified platform, city employees now have access to one view of all city operations, and they can collaborate on real-time data and analytics.
The Digital Future of Work Management
In December the business performance research group Bersin by Deloitte published a list of the technological, structural, and cultural changes they predict will reshape the world of work management in 2017, under the general heading of everything is becoming digital. Their top four predictions include two technologies that can enhance management solutions and two shifts in focus that should make the employee experience better:
• Real-time feedback and analytics will boom, as a way to measure and improve employee productivity.
• A new generation of performance management tools will emerge to foster an agile, continuous, feedback-based approach.
• A focus on human performance and wellbeing will become a more critical part of HR, emphasizing employee wellness and engagement, and a healthy work-life balance.
• The employee experience will become a primary focus of HR, in a move to provide integrated, high-value experiences that excite, engage, and inspire employees.
Top Five Principles of Strategic HCM
Human capital is the real wealth of any organization, and Advance Systems, a provider of enterprise management tools and solutions, is a big believer in the power of technology to achieve the best possible human capital management. They recently published a list of what they consider to be the 10 Key Principles of Strategic HCM. The top five on that list are key elements of every effective HCM solution today:
1. Workforce Planning employs the tools of HCM to track the time and progress of people and projects, enabling management to align the needs and priorities of the enterprise with those of the workforce tasked with achieving those business goals.
2. Competency Management makes it possible for even large organizations to track the performance of all of their employees and evaluate how the team is operating as a whole.
3. Performance Management provides the tools to monitor and review each employee’s work objectives and goals and allows HR to identify and assist under-performers and reward the best members of the team.
4. Compensation Planning and Strategy makes it possible for human resources to schedule, track, and compensate a large workforce with varying skill levels, pay grades, and specialties, by leveraging tools that can handle shift scheduling, time tracking, and project management.
5. Time and Expense Management systems can process and manage the hours worked by every member of a team and track all the expenses involved in their travel and overtime.
Advance Systems rounds out their list of the ten key elements of a strategic HCM with workforce education and training, recruitment, onboarding, contingent workforce management, and organization visualization that allows users to view the company as a whole on one platform.
About the Author
Henry Kaiser has been reporting on and producing television programming about technology since 1996, first as a producer for CNET and then ZDTV, where he earned a Ziff-Davis Chairman’s Circle award. When ZDTV re-launched as techtv he became Executive Supervising Producer for all primetime production. Henry also created and produced hour-long programming about new technologies for The History Channel.
Source: SANS ISC SecNewsFeed @ February 28, 2017 at 11:13AM