What is HCM & Why Does HCM Technology Matter?
HCM technology plays a vital role in the successful management of employees and HR functions. The value of HCM and its organizational impact has grown exponentially in the last few years.
Why? Well, because we as people—and the world around us—are always changing.
There’s a lot happening right now. Employees increasingly want more purpose and culture from their employers, HR managers must be more “forward-looking,” how we collaborate, and our physical workspace is different, and regulations and compliance requirements are constantly changing.
You need people-first technology that creates the experience your employees deserve and reflects the culture and values of your organization. Along with a technology partner like PNI•HCM that will evolve and scale alongside your organization as your needs change over time.
But why is Human Capital Management Technology so important today?
Did you know? Only 33% of your workforce is engaged.
Think about it this way: You bought a brand-new shiny Ferrari with 10 cylinders at your disposal. You take it for a drive down Performance Way, and you are ready to burn rubber.
But, you soon realize you aren’t accelerating like a high-class sports car - more like a Ford Fiesta... running on 3-cylinders.
Sounds pretty disappointing, doesn’t it?
Your employees are your cylinders, and you want them all running so you can harness the full power of your organization and accelerate toward a common goal. When your workforce is not engaged, or worse yet disengaged, you run the risk of low productivity, a lack of belonging, and an increase in turnover.
A people-first organization will choose an HCM partner that focuses on employee engagement and works alongside HR Teams to provide tools to leaders to create a culture of belonging, appreciation, and longevity - improving workplace relationships and ultimately, your bottom line.
It all comes down to this: Your employees are the heart of your organization, and their satisfaction affects productivity AND customer satisfaction.
believe that culture and values are the top factors in overall employee satisfaction.
* “Which Workplace Factors Drive Employee Satisfaction Around the Word,” Glassdoor
of organizations believe that a lack of company culture is the biggest barrier to digital transformation.
* “Anticipate and Exploit the Top 12 Future Work Trends,” Gartner Research
of companies say that governing changes around workforce strategies are important to their success over the next year and a half. But only 8% are actually prepared to adopt the changes.
* “Governing workforce strategies,” Deloitte
Organizations that invest in employee experience have more than 4x profit and 2x revenue. And employees that experience higher engagement levels outperform their peers by 147% in EPS.
* “Design Your Employee Experience as Thoughtfully as You Design Your Customer Experience," Harvard Business Review