When it comes down to your business, you want everything in order. That’s why choosing the right HCM software can go a long way towards ensuring success for any company. From payroll and compliance to recruiting and performance management needs all the way up through performance management, there are many different types out there just waiting on whatever task might need doing with an enterprise-level solution. With so much HCM software available, it can be a challenge to figure out which one is right for you. That’s why this guide ranked and reviewed the 7 Best HCM Software of 2022 to help you decide.
Which HCM software solution is your favorite? It’s either Workday or SAP SuccessFactors.
The human capital management platform is a must for any organization that needs to manage their most important resource- employees. It usually contains various tools and features which take care of recruiting, onboarding as well as subsequent workforce management.
HCM software is designed to help companies manage their human resources more efficiently. It has a bit of an expanded scope compared with HR programs. The system is designed to work with your existing human resources and employee onboarding software without interfering.
HCM suites are a great way to increase engagement and make employees feel like they’re part of the company. It is the result of research from 10 percent of HR. HR technologies and systems are used by 58% of businesses worldwide to retain candidates. Also read: Zoom vs GoToMeeting vs Webex vs WebinarJam , Best PEO Companies
Table of Contents
What Is The Best HCM Software?
1.Workday.
Best For Workforce Management
Workday’s cloud-based human capital management software is designed to help businesses make better decisions by providing real-time analytics and reporting features. With its range of features, this program is the perfect solution for any business looking to manage themselves financially and employee management.
It’s a great fit for companies with employees around the world who need to manage their work in different time zones. The HR department can use this to automate tasks, which will help them form core strategies and plans.
The all-inclusive platform caters to a variety of employment needs, including part-time workers and freelancers. The system offers personalized suggestions for each employee, which helps them perform their job more effectively.
The platform provides users with real-time recruiting analytics so that they can easily see available vacancies and the skills of potential candidates. The expert hiring strategies that this platform provides will help your company get the best candidate for an open position.
The Workday “assistant” tool is a great way to make sure employees stay on top of all the necessary information, like payroll details and time-off requests. With the seamless integration of this platform with others such as Slack and Microsoft Teams, you can be sure that your team will always have everything they need in one place.
The Workday Flow tool provides employees with the information they need to do their job in a way that’s efficient and effective by using HCM data. The talent management suite uses a comprehensive platform that takes care of all your needs and goals, from performance reviews to career succession planning.
Features:
Workday’s workforce management and analytics software streamline the entire employee onboarding process, making it easier than ever before. The enhanced functionality of this software helps to improve and reinforce key HR processes, while also increasing employee experience.
Below are the main features of this HR software:
- Talent sourcing for internal and external employees
- Recruiting analytics
- Supports creation and storage of training content
- Benefits administration and management
- Enables multiple payroll calculations
- Time tracking and physical time clocks
- API integration
Pricing:
The Workday website doesn’t provide pricing information, so potential customers should contact the sales department for a quote according to their needs.
2. SAP SuccessFactors.
Best For Performance Review
HR software is often essential to the success of any business. SAP SuccessFactors helps with managing core HR functionalities and performance management, making it perfect for small to medium-sized companies across different industries with cloud-based.
The easy to use interface allows any user to learn with minimal training time. The dashboard is divided into multiple tiles for better workflow organization and team tracking, making it perfect even if you’re new at this. A dashboard is a customizable tool with a “tile browser” that allows users to add or remove tiles as needed.
The organization chart is a great way to keep your team organized and working effectively. It integrates new hiring data with the image of who has been hired, as well as all their information such as the name or department they work in so it’s very easy for you to know from the navigation bar.
The employee card is the key to all of your company’s data and information. It links you not only with annual goals, performance reviews, or certifications but also skills that can be used on the job as a central database.
The HR team can use this tool to find employees with specific skills or requirements. With just one click of the mouse, they will be able to avoid time wasted on hiring mistakes and quickly get new talent into their company.
With the two-fold performance management system, managers can create goals or targets for different teams to form the basis of reviews. The platform also includes a comprehensive training module that integrates seamlessly with an internal or SAP-managed content network.
Features:
The use of SAP SuccessFactors can help companies to store important employee data, which is then easily accessible for performance evaluation and learning management. The software also includes a writing feature that guides employees in responding to review questionnaires.
Here are some of its main features:
- Centralized resources for employee management
- Easy to use and customizable dashboard
- Self-assessment tools
- Supports financial and training goals
- Built-in support tab
- 24×7 tech and non-tech help
Pricing:
The HCM software doesn’t have a fixed pricing plan, so subscriptions start from $85 per employee. However, you can tailor it according to different user needs with an annual subscription for as little or much money as that suits your need.
3. Oracle Fusion Cloud HCM.
Best For Talent Management
Oracle’s cloud-based human resource management system is designed to streamline multiple HR processes and the complete employee lifecycle. This program has been designed to help businesses optimize their employee engagement and increase productivity.
With the help of this software, decision-makers have access to an easy-to-use platform that provides them with all types of information needed for daily operations. The module provides a range of tools to help with the day-to-day operations and management functions such as compensation, and legal compliance for 200 countries.
With the on-demand, self-service information portal employees are able to manage their personal data like payslips and PTO.
The integrated HR platform with AI provides an excellent experience for employees, ensuring that all their needs are met in one place such as virtual assistants. The platform is available in different languages and it can be accessed from any other workplace communication tool like Slack.
With the connections module, employees can find out more about their coworkers’ skills and experience in collaborations. With This software you can also import information from LinkedIn profiles, helping to centralize data.
With a workforce modeling tool, it’s easy to see what the chances are of an employee quitting or being promoted. You can also use this information for retention and succession planning strategies in order to keep your best workers.
The flexibility of Oracle HCM lets employees design their workflow view to fit the parameters they need, whether it be location, job role, or department.
Features:
The comprehensive HR functions help users and hiring managers to streamline their workforce management on a global level. The facility management tools ensure ease of collaboration and information access for employees.
Some of the other features are:
- Benefits management
- Predictive workforce modeling
- Security dashboards to monitor violations
- On-premise, on-demand, SaaS deployment options
- Worklife module to assist work/life balance
- Digital assistant guide
Pricing:
Users will only be charged for the features and suites that they use. Users can request a demo or speak with their sales team to understand subscription plans, which vary depending on what’s desired from them.
4. Kronos Workforce Central.
Best For Large-Sized Businesses
HR managers can access all the necessary information in one place with Kronos Workforce Central. From HR tools, payroll management, and absence reporting to workforce analytics for large firms, this tool has it covered. Its automated solutions make it easy to perform productivity analysis, manage payrolls, and track attendance.
The user-friendly interface makes it easy for anyone to complete regular tasks like enrolling in different benefit programs, managing their time, and monitoring performance. With the employee tracking software, you’ll have access to a set of features that offer reports on employee demands and scheduling plans.
The cloud-based platform is accessible from any mobile device and allows for downloadable apps on both iOS, as well Android systems. The platform is easy to use and offers a number of self-service tools that make it simple for employees and managers alike to get real-time information.
With automated features, managers can schedule workers with ease. They may also set reminders for individual employees or a group of people in order to keep track of their progress and compensation, or their time.
A payroll structure that is both practical and compliant with global laws. Users can perform calculations for unusual payouts like bi-monthly payments, making this the perfect platform to handle your company’s needs.
If you ever run into any issues or problems, the customer support team is there for your every need.
Features:
HR and payroll can be a headache. With this cloud-based software, you’ll never have to worry about it again. You get all the benefits of an automated system with flexible tools for managing time on a global scale so your employees are happy too.
Its other features include:
- Real-time feedback delivery
- Mobile applications
- Global time regulations
- Centralized employee records
- Flexible payroll management
- Customized notifications for employees
Pricing:
If you are looking for an up-to-date quote on your overall HCM requirements, then schedule a consultation with one of their experts.
5. BambooHR.
Best For Applicant Tracking
The bambooHR platform is designed for small and medium-sized businesses. With its applicant tracking system, this HR software helps employers find the perfect fit with ease.
The HR platform is a great tool for businesses of all sizes because it can be customized to suit your needs. With its open API system, you’ll have access, not just to the features but also to integrate this software with other vendors in order to reduce time spent on paperwork and make business operations run more smoothly.
The HR department’s portals are a one-stop-shop for all things human resources. From self-maintenance of records and leave management to work hour tracking, managers can get quick analytical reports that aid them in making strategic decisions with ease.
These reports are easy to navigate and provide quick access. They can be sorted in various ways, giving you the information that’s most relevant to your company’s needs. Third-party integration and “inter-tool” communication will ensure that data entry errors are eliminable.
Imagine a world where your employees can access data without worrying about security breaches while restricting insights to sensitive or confidential company information. Thanks to custom access levels tools for reducing manual labor and additional costs in ensuring safety.
Additionally, these tools give HR managers and other managerial members a real-time view of the tasks that have been completed. With the new mobile apps, you can monitor your organization’s HR process from anywhere with just a phone based on ios or android.
Features:
With BambooHR, you can have a complete HCM system that will assist with post-talent acquisition activities. This ensures seamless onboarding and effective strategy formulation to reduce manual efforts, allowing your business to run effectively.
Here’s a quick roundup of some of the software’s highlights:
- Self-service data entry tool
- Electronic onboarding of new hires
- Customizable access levels
- Protects confidential data
- Visual analytical reports
- Time-keeping and compensation management
Pricing:
BambooHR has a variety of subscription plans to fit any company’s needs. The free trial is an excellent way for you and your staff members to get used to Bamboo HR in order to decide if it works well with their busy schedules.
6. ADP Vantage HCM.
Best For Process Integration
ADP Vantage HCM is a powerful and easy-to-use HR suite that helps businesses manage their HR processes, including recruitment. It’s designed for companies with 1 thousand or more employees to make it easier than ever before.
The hiring process has never been easier. This software provides complete control to managers and company owners on how they want their recruitment dealt with, which enables them in creating onboarding plans that can be shared across the entire organization for ease of use.
HR managers have access to a range of tools that allow them not only to see how many employees they’ve got on site but also to monitor their attendance, overtime patterns, and absence-related data. The mobile application provides seamless remote capability so you can check in anytime from anywhere.
The software has an in-built talent management system that helps managers combine employee performance with the overall company goals. When it comes to performance reviews, managers can create and use monthly or annual goals as the basis for addressing lapses or inconsistencies in effort with their team.
With access to advanced analytic tools, ADP Vantage is able to provide insightful information about current workforce trends which helps them understand business operations in depth. The payroll process has never been easier. Employees can manage their own time and submit completed tasks for approval, all from a user-friendly interface that is free to use.
This HCM platform also offers tools that help consolidate employee data for benefits management and control.
Vantage HCM is an integrated HR software that can help users recruit, manage and benefit enroll employees from one place. It also integrates with the ADP DataCloud tool to provide a comprehensive suite of analyzing tools on employee data collected in your organization
These are some of the other features on offer:
- Employee onboarding tools
- Performance reviews against company goals
- Team schedule management
- Accessible via free mobile applications
- Comprehensive data analysis with ADP Datacloud
- Multi-level customer service
Pricing:
You can request a customized demo and get in touch with their sales team to learn more about pricing options.
7. Ceridian Dayforce HCM.
Best For Employee Records Management
With one of the top HR software vendors, Ceridian’s Dayforce is a single source for all your department needs. Get real-time information from different processes in no time at all with this easy-to-use system. With a single platform, it’s easy to manage your payroll and benefits needs. It has dedicated portals for talent management as well.
This platform has a learning management system that helps new hires get acquainted with the company goals and assists existing employees in skill development. Managers will be able to track employee engagement and performance through the in-built tools.
The workforce management feature is a game-changer for any company looking to increase efficiency and reduce manual efforts. The software is an all-inclusive suite that facilitates easy schedule assigning, timesheet reviews, and making edits for payroll management.
Dayforce’s mobile application provides employees with instant access to all of the company’s updates.
The payroll management system is updated with changes in the original employee data automatically. The new system provides a single, easy-to-use platform for managing payroll and time tracking which will help you better manage your organization.
The payroll management software in this tool can help you with really basic needs for paying your employees.
The data-driven insight with integrated tools will help you track employee performance in order to craft strategic succession plans and retention policies.
The company’s benefits management tools ensure that employees can enroll in all of the schemes they’re eligible to participate in that involve their profile.
The software will automatically fetch your suited employee list for the said benefit. Managers can simply define eligibility rules, and this amazing program does all of that work.
Features:
The software’s automatic data updating mechanism helps employees to avoid discrepancies in their records. The intuitive interface and mobile applications of this system make it easy for employees, and admins to use their platform.
Here’s a quick roundup of its major features:
- Seamless onboarding
- Learning management modules
- Compensation management with time tracking
- Automatic data update
- Data-driven insights
- Mobile applications for ease of access
Pricing:
The platform’s demos allow prospective clients to view an interactive demonstration of how the system operates and contact a sales team with any questions they may have to seek precise pricing plans.
What Is A Human Capital Management Software?
- Fully Customizable
The many customizable features that HCM systems offer provides managers and admins with the flexibility to set work hours, leave rules, benefits control, performance review guidelines. It depends on the needs of the business.
- Better Time Management
HR software is a tool that streamlines repetitive tasks and increases efficiency. By automating payroll calculations, and information upgrades in training modules with timesheets management the organization can spend more time on strategy formulation and implementation.
Hiring a global workforce can be challenging for businesses with different work-hour regulations and timesheet management requirements in each country they operate. That’s why these tools are so useful in a global workforce.
- People Analytics
Managers and admins can now easily view visual reports on employee performance, which aids in better decision-making. They offer a personalized feedback session to help improve individual or team performance in the work environment.
- Increases Employee Engagement
Some HCM software allows employees to bring in data from other platforms, like social media or LinkedIn profiles. This helps them collaborate with coworkers and get a better understanding of the skill sets and interests of employees.
AI assistants guide employees during different HR processes, like answering performance review questions and enrolling for benefits. This renders a sense of personalization from the managerial staff or company owners without requiring much effort.
- Easy Information Access
Cloud-based HR systems provide a safe way for employees to store and retrieve data, while also providing them with easy access through self-service tools. This creates an error-free central database that can be accessed anywhere at any time.
With customizable data security mechanisms, users are ensured that there is no breach even when confidential information is stored on the same platform.
- Flexible Payroll Management
Globalization has made it necessary for organizations to manage payrolls in different ways. The right tools, regulations, and mechanisms are needed so that employees can receive their correct wages without any hassle.
The compensation management system you use should be tailored for the type of employment such as freelancing, part-time, contractual, etc. This way, there is no need to manage multiple payroll calculation systems which can streamline your entire process.
- Instant Updates
Mobile applications have made it possible for employees to access information almost instantaneously no matter where they are. This helps them to update existing schedules, data, or organizational policies without any discrepancies across the company with a single tool.
Conclusion:
As you can see, the best HCM software of 2022 is diverse and packed with features. It’s important to do your research and find the system that will work best for your company. All of these systems offer a free trial or demo, so be sure to take advantage of that and test out as many as you can before making a decision. What factors are most important to you when considering HCM software?
Frequently Asked Questions - 7 Best HCM Software of 2022
How Are HCM Software Priced?
The HCM software offered by most companies has a variety of customizable plans to suit individual employee needs. Users should contact customer service or sales if they have any questions about what subscriptions would work best for them and request demos, if available.
Can Small-Sized Businesses Use HCM Software?
The demand for centralized workflow control and efficient HR operations is prevalent across industries. That’s why small-sized firms should invest in an HCM system that can cater to their needs within a reasonable budget if they want increased productivity at lower costs than ever before.
Do Companies Need In-House Tech Support To Operate An HCM Software?
Companies can expect to be fairly well taken care of by their HCM software vendor. Most vendors provide some level or kind of support, depending on what you need most in your company and how much money is available for upgrades
Which HCM software is best?
There is no one-size-fits-all answer to this question, as the best HCM software for your business will depend on factors such as the size and needs of your organization. However, some of the top HCM software solutions on the market include SAP SuccessFactors, Oracle’s Taleo, and Workday.
When choosing an HCM solution, it’s important to consider its functionality and whether it integrates with other systems you’re using. You’ll also want to look at pricing, customer support, and user reviews. Taking all of these factors into account will help you select the best HCM software for your business.
Why is HCM software important?
HCM software is important because it allows businesses to manage employee information and benefits in a single system. This can save time and money, as well as improve communication between employees and management. Additionally, HCM software can help businesses comply with regulations governing employee data.
