Human capital management (HCM) systems are an important tool for businesses and have grown in accessibility and ease of use in recent years. An HCM focuses on attracting, hiring, and developing employees to build an optimal workforce as well as transactional functions such as time and attendance, payroll, benefits enrollment and HR tracking.
The benefits of an HCM system for retail and restaurant operations are many, but one of the biggest benefits is moving confidential employee information from various file locations into one secure cloud-based tool. The technology available virtually eliminates the myriad of paper-based and manual transactions, allowing administrators to focus on core business operations instead.
In retail and restaurant operations, multiple locations can make data accessibility frustrating. An HCM’s comprehensive and integrated employee record means payroll and HR departments don’t have to keep a separate file on each employee. Payroll, HR, benefits and time are tied into the whole employee file for managers and employees alike, with easy access to the information that is entered. The entire employee lifecycle from recruiting, hire, performance records, and resignation, termination, or retirement is all recorded and stored in an accessible format that is available whenever and wherever it’s needed.
Access to these records can also be restricted by management level or by record type, and data can be “read only” or editable. This allows flexibility for need-to-know information to be available to supervisors without them seeing too much.
Employees can also access their own data quickly and easily, and even update certain personal information, without the need for HR or supervisor coordination. This is both empowering and engaging for employees as well as a relief for supervisors and HR staff, especially in the busy world of retail and restaurants.
Cloud-based solutions provided by HCM systems move HR and payroll processes from onsite equipment and files that require ongoing maintenance to the cloud. Businesses can get increased capacity and more security with less capital investment. HCM takes the employee management processes from various departments (think payroll, HR, manager files, etc.) and moves them into a highly organized and accessible cloud-based system, eliminating manual records and automating many processes.
Cloud-based solutions also provide continuous systems upgrades, so equipment aging and upgrading versions is a non-issue for users. In addition, because an HCM houses so many functions in one system, businesses do not need to be concerned about software compatibility changing across the various functions when an update occurs.
HR has always been involved in safeguarding confidential employee information. HCM solutions secure and maintain data, complying with government regulations, and providing physical security of records without the need for expensive onsite equipment or physical maintenance. Flexible user security access assists businesses in safeguarding certain data while allowing access to other information.
An HCM system facilitates engagement for today’s stressed and overwhelmed managers and employees. It takes disparate and sometimes dysfunctional transactions and turns them into a streamlined and connected system, freeing up time and eliminating problems so managers and employees can work well together, doing less busy work and more quality activities. The software also improves communication and understanding during the workday by providing access to records and reports that people need to do their jobs and build good working relationships.
PAYDAY's newest software solution, iSolved possesses all of the capabilities to integrate your business functions into a single source, as well as automate procedures and increase efficiencies and save money.
PAYDAY Workforce Solutions provides a single database SAAS solution for Human Capital Management (HCM) including payroll, human resources, time management, benefits administration and onboarding to companies of all sizes and in various industries.
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