Human Capital Management (HCM) is simply a term given to software that helps businesses manage their human resources across all aspects of employee needs.
Immediate considerations might be payroll and attendance, but additional ones could be training and development, recruitment and on-boarding, as well as overall employee performance.
All of this can be packaged into a single software platform to make human resources work better within an integrated HCM framework. Even better, analytics can then provide actionable insights to help increase efficiency and improve productivity, without harming your business.
Moving to the right HCM solution can seem like a daunting challenge, but done right it can work wonders for your profit margin while improving employee engagement and motivation. Just ensure that any platform is properly tested for your organization's needs before you look to adopt it, otherwise what promises to be a solution can end up as a problem – and not just for you but also your employees.
To help you decide on the right solution, we've put together a list that features the best in Human Capital Management software.
- We've also highlighted the best HR software
- Want your company or services to be added to this buyer’s guide? Please email your request to email@example.com with the URL of the buying guide in the subject line.
Best HCM - at a glance
- SAP SuccessFactors
- Oracle HCM Cloud
- Infor CloudSuite HCM
- Ceridian Dayforce
Use Sap SuccessFactors simple UI to meet all your HCM requirements
SAP SuccessFactors is an industry-leading HCM solution that aims to simplify HR management.
It delivers on core HR and payroll data, provide time and attendance management, recruiting and onboarding, as well as learning and development. There are also features covering performance and compensation, workforce planning, and HR analytics. Consulting and support services are also available as required.
SuccessFactors is a very comprehensive system, covering everything from visa and permit requirements for workers, to metrics and benchmarks with visualizations to help provide business intelligence insights into your workforce.
Although SAP's SuccessFactors covers almost everything most business will think it needs, there are also related services available such as Workforce Planning to help align employee development with business goals, as well as the SAP Digital Boardroom which provides decision makers a real-time view of the company as well as inter-departmental performance.
Overall, SAP SuccessFactors is marketed as an all-in-one solution and it covers most bases very well, but the one disappointment is that there's no flat-rate pricing so you'll need to contact SAP for a quote.
Pick and choose from Oracle’s modules according to your needs
Oracle HCM Cloud is a comprehensive HRMS suite geared towards medium to large sized businesses. The solution is made up of several different modules which can purchased as one single suite or as individual stand-alone products.
The ‘Global HR’ package features employees' information, self-service functionality, worker lifecycle and processes for industry and union support. There are also tools that provide information on the cost and impact on any organizational changes.
The ‘Workforce Management’ module helps companies manage employees and labour costs. The ‘Work Life’ solution provides companies with the skills required to retain employees and knowledge on how to improve employee satisfaction.
For pricing information, you will need to contact Oracle directly, and the company offers a demo of their services for interested parties.
Workday offers a comprehensive solution for organizations of any size
Workday provides on-demand financial management and human capital management software, which boasts clients such as Netflix, TomTom, Hewlett Packard, AON and Amazon.
The suite is suitable for businesses of all sizes. Modules available include financial management, human capital management, analytics and professional service automation.
The HCM solution offers workplace planning, recruiting tools, compensation, benefits, talent management, payroll, time management and attendance.
The Workforce Lifecycle management solution is the main component of the suite and includes tools to help plan, hire, manage and analyze a large employee base.
The ‘Compensation Management’ tool works by creating and managing employee compensation packages.
Workday offer a variety of demos. Potential customers need to contact the sales team directly for a quote.
True to its name Bamboo is both flexible and reliable
BambooHR provides human resources software as a service and boasts high-profile clients include SoundCloud, Foursquare and Asana.
BambooHR is targeted primarily toward small and medium sized businesses. Its dashboard is easy to use and well laid out. You can manage personnel data, time-off tracking, files and reports from here.
At the top of the dashboard are tabs for services such as ‘My Info’, ‘Employees’, ‘Job Openings’ and ‘Reports’ amongst others. All employees can view their photo, employee information and vacation allowance on the right-hand side of screen.
BambooHR is an integrated platform which allocates functions through the hierarchy of users within the organization. For example, managers and administrators are able to see and do more than regular employees.
The platform’s benefits administration allows companies to track custom benefit packages. They have a variety of plans suitable for all employees.
BambooHR have apps for both iOS and Android smartphones. From here, you can access your company directory and time-off requests. The apps also let your employees stay up-to date with any changes within the company.
There is a free trial available. Users need to contact BambooHR directly to get a quote.
Consolidate HR into one easy management platform
Infor's CloudSuite HCM aims to simplify the HR management process, by bringing as many services together under a single platform. The result is the ability to make workflows and complex processes more streamlined and ease to manage.
Key features includes the ability to manage human resources from anything from the local to global level, addressing issues such as company structure and budgeting, as well as employee relations, benefits, and time management.
Talent management options offer the chance to simply manage recruitment and onboarding, as well as set and monitor appropriate compensation, goals, and performance. There's a personalized knowledgebase portal and case management system, and of course the ability to manage payrolls as required.
Analytics are also built in, so that all aspects of the HR process can be explored, developed, and optimized, not least with regards to building the right workforce for your company, while covering all obligations and liabilities as required.
CloudSuite HCM is flexible enough to work across most industries, such as retail, public sector, manufacturing, service industries, energy companies, and public sector services.
- You can sign up to Infor CloudSuite HCM here
Ceridian gives employees and managers instant access to vital information
Ceridian Dayforce is specifically geared towards medium and larger sized enterprises.
Dayforce allows users to manage payroll, attendance, timesheets and recruiting among other things. It also offers mobile apps for both iOS and Android users. Customers can request time off, view any schedule changes and log their working hours through the app.
The payroll system is easy to use. Employees are able to track information relating to pay. This includes a comprehensive breakdown of their payslip as well as their entire salary history. Dayforce also include the option to print out tax forms.
Employees can also keep an eye on their attendance and stay abreast of their vacation entitlements. Users also have access to both chat and phone support. Dayforce HCM has its own online support portal.
Dayforce allows administrators to set goals for team members. These goals will be tracked and scored by Dayforce at the end of the working year.
Pricing is available by contacting the Dayforce sales team. You can also request a demo of their services.
More HCM software services to consider
Ultimate Software offers a full-service HCM suite, offering a management solution at at all levels of a business, from executive to hiring manager. It offers all the core essentials for HR, from payroll, benefits, attendance, tax, recruiting, onboarding, career development, analytics, and business intelligence. Like all of the companies featured here it's also part of the Gartner Magic Quandrant for cloud HCM services.
Ramco HCM is another leading provider, offering global payroll, core HR, time and attendance, as well as managed services. What Ramco does really well is attention to detail such as covering everything from chatbots to Cognitive Process Automation for employee development, as well as a minimal user interface so that most of the work is automatically processed. Although available as a cloud service, it's also available on-premises or as a managed service.
ADP is a big and experienced company when it comes to outsourced HR, and its HCM solution builds on that. As expected, it covers all the major services such as recruitment, training, benefits, payroll, benefits, time and attendance, as well as career development for employees. It also aims to cover all business sizes, advertising that it understands that each has different needs that it aims to cater to.
Cornerstone offers an on-demand service that covers core bases such as recruitment, learning, and performance, on top of HR essentials. It also includes features for campus recruitment, its own Learning Management Software (LMS), as well as for planning and analytics. There's also the ability to integrate with SalesForce software. What Cornerstone aim for is greater flexibility than some rival platforms, making it easier to provide to individual business needs.