Obtain buy-in from your Finance & Executive peers on your decision for a new HCM
Human capital management (HCM) platforms touch many departments in the organization. While every team — especially the Finance, HR, Executive teams — has its own needs and preferences, the entire organization should be united in choosing a platform that will benefit everyone. As you look at what you want in an HCM, you must also focus on creating C-suite buy-in for this new HR technology.
Every team wants the latest tools and technologies to do their jobs, but organizations can't afford to spend time and resources on dozens of tools that serve just a single purpose. Instead, HR leaders spearheading new technology initiatives should work with their counterparts in Finance and the Executive suite to align organizational goals and select technology platforms with the features, functionality, and flexibility to meet a wide variety of business needs in a single solution.
And for organizations with hundreds of employees and complex payroll processes, the procedure is exponentially more complicated and with a higher risk of error. Those errors negatively impact businesses internally and externally. That’s why those organizations need sophisticated hr software solutions designed to meet their more challenging payroll problems.
Why finding a one-size-fits-all system is challenging, but necessary
As an HR professional, you already know the software features and functionality you need most to achieve your department goals, but your peers in Finance and leaders on the Executive team also have a list of features they want in an HCM.
For HR leaders, finding an HCM that doesn’t require extensive workarounds to support basic processes around hiring, training, and separation is a top priority. You need a flexible HCM that can adapt to your established people management model.
Meanwhile, finance teams are looking for an HCM which integrates with their ERP and provides accurate, real-time data related to salaries, benefits, and labor investments and their executive counterparts want an software that gives them reliable data that informs them about past, present, and future organizational needs to drive the business forward.
From disparate and disjointed to integrated and incredible
Data demands vary from business to business and function to function. Unfortunately, most HCMs are built in a way that doesn’t allow for the flexibility organizations need to meet all of these needs at once.
Without the benefit of a one-size-fits-all system, organizations often turn to the endless array of accessible purpose-built software that allows them to implement systems and processes that streamline essential activities and make work more efficient.
However, the result is that most companies employ a range of disparate systems that either remain in silos — and make visibility and collaboration nearly impossible — or require expensive, time-consuming integrations with HCM software and other enterprise systems that will require ongoing technical support, while still delivering unreliable data because of manual uploads and ad-hoc reporting.
Fortunately, a new generation of cloud-based, fully integrated HCM software is available to help simplify core HR functions while also empowering Finance and Executive teams with the tools, data, and insights they need to confidently devise winning business strategies. These integrated platforms are designed to support modern HR activities, but also provide value to other business leaders across other functions in the enterprise.
As you evaluate vendors and HCM solutions capable of meeting a variety of business needs and use cases, make sure to choose one that:
- Provides easy, secure access
HR’s job never ends. Whether it’s recruiting, training, or modeling career paths to keep valued employees in the organization, HR teams need easy, reliable access to their systems and data. Modern HCMs should be cloud-based and accessible by authorized users from any connected device at any time. And, given the emphasis of data governance and security in an era of strict regulations and concerns around privacy, it’s imperative to choose a platform with built-in permissions and identity management to protect sensitive information from unauthorized access and use.
- Integrates with accounting and ERP systems
Corporate finance teams face myriad challenges each day, including figuring out how to keep employee-related data up to date and accurate. So often, they have to manually input information or transfer large data files from HR systems and true them up with payroll and ERP systems. An effective HCM solution will eliminate these time-consuming and error-prone processes by unifying accounting, payroll, and HR data into a single source of truth with automated data transfers, syncing, and reporting.
3. Increases efficiency, empowers employees
HR isn’t just about hiring and firing. It’s about cultivating a culture of innovation and achievement and a work environment that empowers employees to make valuable contributions to the greater good. But those efforts don’t come free or cheap and executives ready to sign off on new software want to know how a solution will help the business reduce costs, improve productivity, and enhance institutional knowledge that will lead to increased revenue and happier customers.
Choose an HCM system that provides the C-Suite on-demand visibility into projected and actual HR-related expenditures on a monthly or quarterly basis, along with what-if scenarios showing how core HR programs like training and employee engagement will deliver cost savings and measurable improvements in productivity.
Key points for selling your new HCM idea to other leaders
No matter how big the organization, no business has an unlimited budget. Every investment — especially pumping resources into technology — must deliver predictable, measurable value. And when those investments touch as many elements and teams in an organization as an HR system does, executives want to make sure the entire organization can benefit in some way from the purchase.
When seeking buy-in from your finance and executive colleagues, emphasize enterprise-wide benefits such as:
Every team wants the latest tools and technologies to do their jobs, but organizations can't afford to spend time and resources on dozens of tools that serve just a single purpose. Integrated, cloud-based HCM platforms like SyncHR provide the features, functionality, and intuitive tools every team needs to improve collaboration and strategic planning.
Contact us today to learn more about how SyncHR can help you meet the HCM needs of your entire organization.
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