HR technology implementation is being prioritized by many businesses since the start of our transition into a remote working environment and we believe that this trend will continue well into the 2021 year.
With a slew of new software being released and refurbished so often, we can’t help but wonder if it is time for us to rethink our current practices and implement a new HR platform that would support and strengthen human resources initiatives.
There are three types of systems that are most common:
HRIS (Human Resource Information System) - HRIS is ubiquitous and automates many HR features such as recruitment/ATS (Applicant Tracking System), core HR, absence management, benefits administration and employee self-service.
HCM (Human Capital Management) - HCMs include all HRIS features but takes it one step further by adding features like onboarding, performance management, succession planning and analytics.
HRMS (Human Resource Management System) - HRMs encompass features from the HRIS and HCM; it also includes payroll and time and labor.
Over time, these acronyms are becoming more blurred as technology is evolving and businesses are seeking one solution that streamlines all HR functions. Below are some key questions to answer when starting the search for the HR technology to fit your needs:
Which functions are you looking for the HR technology to accommodate? (e.g. payroll, customizable reporting, analytics, onboarding, offboarding, performance management, etc.)
Do you have another platform that the HR technology should integrate with or are you looking for an all-encompassing software?
How hierarchal is your organization? This will be important in understanding the different user-access tiers and administrative capabilities that might make operations more efficient.
Please reach out to your HR Advisor with your responses to these questions to narrow your search for the HR technology that best fits your needs.