As we start the second quarter of 2015, we’re keeping our eye on several trends in the Human Capital Management (HCM) industry. To maintain a competitive advantage with your prospects, stay on top of these developments and understand how they affect your customers.
Here are three trends, in particular, that will affect the HCM industry.
Top 3 HCM Trends You Need to Know About
It’s no secret that mobile devices are being used more and more in our business activities. Capturing time, making vacation requests and accessing self-service portals are some examples of how HCM vendors are supporting the mobile workforce. Many HCM vendors now offer mobile applications that integrate with their time-and-attendance, payroll, HR and other modules.
Most employers only need basic mobile data collection. But when you consult with your clients on their mobile strategy, be sure to ask about the different use cases for each of their employee roles. For example, if you’re speaking with a field-based industry, they probably need expanded mobile features for tracking location, mileage, routes and field activity (such as pieces picked). And they probably want a rugged device that can work offline when they’re out of the service area. Also, recent changes in California law state that employees are entitled to city-specific minimum wages, so time must be tracked automatically in different locations.
If your HCM system’s mobile app doesn’t cover these critical needs, you should think about partnering with a mobile data collection company that offers these capabilities. Some examples are eCONZ, ClickSoftware/Xora, and ExakTime.
HCM systems contain a wealth of employee-related data that can help drive decisions to improve a company’s operations and financials. For companies that are shopping for an HCM provider, being able to mine and report on actionable information is becoming more and more important.
The next level of analytics is incorporating non-HCM data into the overall equation—data such as ERP/production information, financials, sales, etc. This means that being able to merge disparate data sources will continue to be a key buying factor for your prospects—whether it’s posting your system’s HCM information to your client’s data warehouse or uploading third-party results that complement the HCM system.
Exchanging data between unconnected systems isn’t a new trend, but providing more seamless and near-real-time transfers via web services or APIs is becoming more popular—and more expected. Prospects that have best-of-breed systems need to complement their HCM investment with reliable and timely data transfer between systems.
You can address a need by offering APIs to your prospects. But the bigger question is whether they have the internal expertise to work with and support connections with your APIs. Make sure to talk about data integration during your client analysis discussions—otherwise, you could end up with a delayed project and a frustrated client that can’t meet their commitments to build connections to your system.
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