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The new avatar of HCM- And why you really need it

The new avatar of HCM- And why you really need it

Nowadays, Human Capital Management is no longer just a clutch of HR processes held together by multiple, cumbersome software systems that don’t talk to each other. Today’s HCMs are lean, sinewy and incredibly fast. The reason why organizations invest in such technologies is because they want much more than just a return on their capital; they want to be the best place to work at.

Given that almost everyone is technologically savvy enough to operate Facebook, Youtube, Whatsapp or Google, employees today expect a similar experience at work too where technology works lightening fast, is extremely relevant and is easy to use.

HCM in its new avatar is all about taking a sprint in that direction.

As 70% of the HR technology budget is spent on Core HR, Payroll, and Workforce Management, let us take you through some of the challenges that a few customers faced and how they were able to positively impact.

Core HR

One of the problems we see presented to us very often is the affliction of multiple, existing systems. And if there are multiple entities within an umbrella brand, each using independent platforms, the complexities and inefficiencies reach catastrophic proportions.

One of the largest financial services group in India employs 14,000 people across 600 branches in the country. The company’s 12 different entities deploy over ten different data systems. Collecting data from multiple systems was a 15-20 day exercise.

When we deployed PeopleStrong in this situation, a lot of people processes got organized under a single category instead of 5 different heads, which meant there was clear demarcation of ownership.

The organization experienced a dip in transaction time by a whopping 50% and an unbelievable 90% reduction in revenue risk due to availability of a single view of employee data. The HR team’s overall productivity improved by 40%, and the organization truly recognized the potential of HR technology.

Workforce Management

This part of HR deals largely with work flow/productivity and managing the resources for the same. Employee Scheduling & Forecasting, Talent Management, Time & Attendance etc. are large but critical chunks that require close coupling with each other for the whole machinery to run smoothly.

Conventional technologies have struggled with incorrect tracking or synchronizing divergent types of work etc. It is when one or more of these cogs grate against each other and become counter-productive is when an HCM solution is needed to pull everything together again.

One of the world’s largest food-supplies and services organizations employing 30,000 people over 100+ sites across India was plagued by ghost employees with false attendance, leading to highly inaccurate data and a substantial loss of business productivity.

PeopleStrong deployed a four-pronged technology based solution for superlative experience and real-time insights:

  • Geo-tagging: The organization deployed a mobile application with an integrated attendance system that captured the onsite and offsite fleet’s attendance through geo-tagging.
  • Geo-fencing: This feature enabled the managers and HR teams to define
and designate allowed areas within premises or out of it in order to eliminate gaming of mobile based attendance system (via password sharing). This also eased out long queues in office biometric system saving productive man-hours.
  • Roster: Enhancing employee experience, the technology gave opportunities to the employees to schedule their shifts on the roster via the mobile application.
  • Web-based assess: In order to provide a robust mechanism and increase the adoption, the organization augmented the technology stack by giving both mobile and web based access to the solution.

PeopleStrong helped the organization fix the revenue leakage of almost 5% of the employee cost due to savings in reducing the time-effort for attendance capture and ghost tracking. Ghost employee payments reduced by 100% and the company reached 100% on Employee productivity tracking.

Payroll Management

Tracking employee attendance, keeping a record of how many days he/she was on leave & then finally processing the salary while navigating the complex and intricate tax and compliance structure, is a fundamental activity in any enterprise of any size.

Even after HR technology has gone through several cycles of evolution, payroll continues to be one
of the most complex and error-prone processes till date. As it continues to be one of the most sensitive functions that drives satisfaction for today’s fast paced and “instant” workforce, new-age HCMs desperately need to keep pace with what organizations require.

One of India’s leading IT companies with multi-billion dollar revenue with more than 10,000 employees was struggling to manage reimbursements. The company faced an extremely long reimbursement cycle, and consequently, lower employee satisfaction, and to top it all, payroll inaccuracy.

With employee experience as a focus, the organization leveraged PeopleStrong’s HCM technology that enabled easy access to reports & analysis, Chatbots & mobile interface, query management, automated payroll. For example, Jinie, a chatbot helped employees in filling the online forms for business expenditures along with regular reminders, answering queries and much more.

Reimbursement cycle reduced to 1/8th of the original time taken, employee experience improved by over 65% largely because of multiple interfaces available to employees and simple DIY processes that enabled them to save almost 8-10% of productive time. FnF settlements reduced by almost 30%. The entire Payroll system became 100% automated and the organization achieved almost 98% Query Resolution.

Human Capital Management solutions have become intrinsic to achieving an organization that is effective and employees that are happy. Because it allows your human assets to work on things that are important, instead of getting stuck in administrative drudgery.

PeopleStrong has brought joy to hundreds of our clients because we understood their challenges and created solutions tailored for them. With the vision to Simplify Work Life, PeopleStrong offers the next generation HR SaaS Technology designed “For HR, by HR” aptly named, PeopleStrong Alt. It is 100% “Born on cloud” and designed “mobilefirst” – providing an app like simplicity, which over 5 Lacs+ users spread over 200+ organizations experience every single day.

Come on over, lets talk.

Payroll and HR are at the core of every organization. With new-age workforce distributed across geographies, organizations are grappling with multiple payroll processes, numerous pay-components, and inconsistent tax and compliance handling. Payroll provides intelligent payroll management solution for building smarter workplaces.

Get in touch with our payroll and compliance executive to know more about Payroll and how we can manage your payroll better.

Know more about Payroll Software

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