What Is The Purpose Of A Human Capital Management System?

 Human Capital Management

Human Capital Management | Image Resource: pimages.toolbox.com

A human resource management system is software that provides different processes to manage HR activities. It helps to automate HR tasks like storing employee data, recruitment, processing the payroll, administrative work, creating reports and more.

The human resource management (HRM) or human capital management (HCM) system helps to manage the HR processes easily. As it automates the tasks it helps to reduce the manual workload. It contains different modules to achieve different tasks.

The different modules are provided for recruiting online, retaining staff, processing the payroll, administrative tasks, managing employee benefits, HR planning, learning management, employee self-service, performance management and reporting.

The system covers the activities from the time a candidate is hired till retirement. The system can store personal records of employees like addresses, training and development, capabilities, skills, compensation programs and more. It can be used to recruit and evaluate employees. 
The employees can easily access their records from the HCM system without having to meet the HR personnel.  

Different solutions provided in HCMS
There are different solutions provided by an HCMS help to accomplish different tasks:

Knowledge management
This platform can be used by employees to share information and knowledge. The users can create knowledge-based articles, set-by-step guides, solutions to common problems and more. This helps to improve the flow of information across the organisation.  

Idea management solution
This platform can be used to manage an organisation’s end-to-end ideation process. It can be used to manage idea invitation, selection, evaluation and implementation. It is a user-friendly platform and users can easily vote, comment and endorse ideas.

Internal job posting and tracking tool
This tool can be used by the talent acquisition team for publishing jobs on the e-bulletin board, making online announcements, and sending emails to everybody in the organisation with details about the job requirement and the application process. 

Action management solution 
This solution helps you to manage your projects and allows you to plan, organise and manage projects. Project leaders can use it to manage their workloads, project scheduling, status updates and more. It provides project visibility to all. A pictorial view of the project using a Gantt chart is provided along with dashboard reporting.  

Task management solution
This solution allows you to plan, create and manage your work tasks. It helps to simplify your work planning. It makes sure that all the individuals have clarity of all the tasks all the time. Managers can use it to track and monitor the progress of the tasks and rate them depending on the quality. It helps to connect with the team’s productivity and performance. 

Intelligent assistant
This provides intelligent Artificial Intelligence chatbots for organisations. These chatbots can be designed to meet the specific requirements of an organisation like getting personal information, documents and more.

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