Human Capital Management Software

One system for all your people. TribePad’s HCM software offers a smarter, more efficient way to handle all your people-related activities.

What Exactly Is Human Capital Management?

Put simply, human capital management (HCM) is a way for your organisation to assess your current workforce and their value to your business. More importantly, however, good HCM allows you to calculate and optimise your employees’ future worth to your company; something that is vital for businesses who are looking to grow and move forward in a fast and efficient manner.

Having a human capital management strategy in place gives you the opportunity to provide your workers with clear goals and expectations. This is something that all staff members will appreciate as it gives them targets to work towards and provides them with a sense of achievement that will engender loyalty towards your company and its brand.

In turn, heightened productivity ensues, and your organisation will profit from the continuous improvement of your workforce. Through the meeting of these realistic goals and targets, your staff will not only become more capable, they will also be a lot happier and focused, too. HCM software empowers them by making them feel more appreciated and part of the team, rather than just being yet another cog in the machine.

Human capital management is, therefore, not simply another buzzword that you can afford to ignore. It is a management strategy that is vital in today’s fast moving and fluid business world.

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Our human capital management software is trusted by leading companies

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bupa
kfc
tesco
sodexo
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Why is Human Capital Management Important?

If there is one reason why human capital management should be deemed important by all serious organisations it is this – employees. HCM plays an important role right from the start, as it enables businesses to hire the right people for every vacancy they need to fill. Getting the right people through the door by analysing each individual enables businesses to save both time and money during the recruitment process.

Once the perfect candidate has been found, HCM will then ensure that they are taken through an efficient, tailor made orientation that will actually give your new hire the information that they need to succeed within your company. Superfluous materials can be dispensed with during the induction of a new employee as you will have data driven guidance on what they should be made accustom to. This makes the orientation engaging and rewarding for your newest staff member, ensuring that they are getting off on the right foot right from the start.

As time progresses, continuous improvement is a vital ingredient for keeping the very best employees happy. HCM, again, gives you the data that you need in order to make the correct decisions on what training is required to help keep your staff motivated and pushing towards your company’s common goal of growth and development.

By fully engaging your employees with strategic data to back up future plans, your company will be able to move toward growth in an effective and efficient fashion. Remember, good staff members are your greatest asset, so managing them effectively should be a priority for any organisation looking to hit their targets and achieve their goals. This is especially true in such a fluid job market where great employees are hard to find, and often even harder to keep.

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The Benefits of HCM Software

As we have already touched upon above, human capital management is the process of looking after your employees to enable them to thrive and achieve within the workplace. Sounds simple when it is broken done to one short sentence, doesn’t it?

There are, however, numerous levels to successful human capital management, and real progress can only be made if all of these different areas are brought together into one cohesive package. This is where human capital management software comes in.

Human capital management software (HCM software, for short) allows organisations to cover all bases when it comes to handling the talent on their books. From assisting with acquiring the very best people whenever you need to hire through to their training and management, HCM software provides you with powerful data on your workforce that will help you get the most out of every staff member. It’ll even help you retain your star performers, too.

In short, HCM software will enable your company to:

  • Hire the right person for each individual role within the business
  • Save both time and money during the recruitment process
  • Provide new hires with a targeted orientation, empowering them to hit the ground running right from the word go
  • Share information between superiors and subordinates in a free flowing manner
  • Reduce the risk of misinterpreted instructions or false information being spread throughout the workforce
  • Enhance the training provided to staff at all levels throughout the organisation
  • Track employee performance and provide data driven feedback whenever necessary
  • Improve all workers’ skill sets, making them more valuable assets to the organisation in the process
  • Retain high performers by keeping them engaged with the organisation and the overall strategy of the business

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How to Successfully Implement a Human Capital Management Plan

As with any implementation process, adopting a human capital management plan requires a strategy for successful execution. Let’s take a brief look at some of the key points to bear in mind when pushing forward with a HCM plan:

  • Clarity in both direction and goals – Having a concrete idea of where your business is heading is essential for the correct implementation of a human capital management system. Collecting data from areas such as shareholders, clients, senior management and shop floor staff will give you an overall picture of where your business currently stands. Not only that, it will also pinpoint where you need to get to in order to achieve the success that you desire. Analysis of the expectations of these key segments of your organisation will allow you to come up with a set of goals that align with your vision for the future of your business. From a human capital management point of view, these would commonly be:
    • Ensuring that only the very best candidates are brought into the company
    • Creating orientation programs that actually provide value to the new hire
    • Continuous development of all staff members through targeted training
    • Striving to retain all key workers who show a dedication to the company
  • Clear strategies to achieve predefined goals – Setting goals is all well and good, but a successful organisation must plan out exactly how they intend to achieve these goals, too. Setting out strategic plans for goal achievement will enable your organisation to keep employees engaged and increase their satisfaction within the workplace.

Assigning team leaders can help with the implementation of such strategies, as will delegating the responsibilities of attaining the predefined goals to employees based on their existing skill sets and interests. It is also vital that your management team embrace the goals and interact with both the team leaders and other employees in order to achieve the targets laid out as efficiently as possible.

  • Introduce an accountability system – The final part of the implementation process should be incorporating an accountability system. This will allow you and your management team to assess how the human capital management plan is performing and find any gaps in the strategy. This accountability system will provide you with the data needed to ensure that your overall human capital management plan is a success, regardless of any operational hiccups that may be found along the way.

What others say about TribePad

Skipton quote

“We’ve seen significant savings and a ROI of £35,000 this year. With TribePad, we’ve been able to identify which job boards have been most successful, leading to a 25% reduction in costs. TribePad has allowed for the large influx of applications (from hundreds to thousands) to be managed and processed whilst enhancing the candidate experience.”

Skipton Building Society

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exclusive quote

“Because employing the right people is of critical importance in ensuring our guests receive the very best of luxury service, we felt we needed support. We are sure that using TribePad to help us find and manage our talent will prove to be one of the best recruitment decisions we’ve made.”

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g4s quote

“Tribepad has been a great partner for us in North America; we have a very complex business that relies heavily in our ability to manage HR processes with efficiency. In this respect Tribepad has provided us with a great platform, and has gone above and beyond to help us tailor this platform to meet our needs.”

Career Center and Intranet Manager – G4S North America

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pizza quote

“TribePad was the stand out ATS provider for Pizza Hut with both its innovative platform and usability for both the client and candidate. We are really proud to be working with TribePad and are all excited by this new partnership, which we have no doubt will deliver great candidate success to both businesses.’

Pizza Hut Restaurants and Pizza Hut Delivery

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Sodexo quote

“We are starting to see some significant ROI in terms of cost saving, reduction in time to hire and greater engagement”

Head of Resourcing, Sodexo

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What Does the Future Hold for Human Capital Management?

There’s no doubt about it, human capital management is growing across the business world, but what does the future hold for one of the most powerful strategies an organisation can implement? Three main points stand out:

    • Strategic optimisation of the workforce – Honing the recruitment, training and retention of staff is going to be a key driver in pushing the popularity of HCM software in organisations both big and small over the coming months and years.

Optimisation of all areas of the talent management spectrum through data driven decisions will continue to provide businesses with strategic growth, increasing productivity and strengthening employer/employee relations throughout the business world.

      • Changes in employment – The modern job market is far more fluid than it has ever been before. Employees now regard a job for life as a thing of the past, so loyalty has to be gained in order to ensure that businesses hold on to their best staff. Consultancy work and freelancing are also become more common, and the benefits of embracing such new ways of operating can be felt by both the individual and the organisation alike.

Human capital management allows businesses to meet the changing needs of the modern workforce efficiently when correctly strategized. Thankfully, the ever evolving world of HCM software can help, as it will continue to make light work of new demands as and when they arise.

      • Integrated systems to become more ubiquitous – Gathering data is one thing, but having that data available across a band of applications is quite another. We expect to see integrated systems become common place across the business world in future as their benefits are so clear, regardless of the industry in which you operate.

Saving man-hours and reducing clerical errors is just the start. Integrated systems can also remove the wastage of duplicate data entry, lower information irregularities and provide all organisational levels with one platform upon which to work. Human capital management and integrated systems, therefore, are perfectly matched.

If you’re interested in a Human Capital Management system for your company, no matter the size, please contact us for a free demo. We really look forward to speaking with you and discussing your recruitment management technology needs

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