Gone are the days when HR solutions were simply used for storing employee records. You can probably find some apps out there calling themselves complete HR or HCM solutions because they have some minor functionality around storing data – but a real Human Capital Management (HCM) solution is one that fully engages, manages and collaborates with your key talent – to nurture and foster productivity. Talent Management is a strategic piece of any HR solution and this blog is all about FinancialForce HCM Talent Management functionalities.
Leading HR Industry analysts such as Gartner and HR.com define talent management solutions as systems that include talent acquisition, goals and performance review, compensation management, succession planning and learning and development. This concept is in line with an employee life cycle that starts from recruiting the right candidate, setting goals that can be reviewed, outlining compensation based on performance reviews, and includes learning plans and succession plans. At the same time, if the solutions are not integrated to your core HRMS, they become disparate and difficult to follow. For example, if the hired candidate is not able to use the same information he entered as a job candidate in the system, a disconnect starts right there. Hence, having one core system of record for core HR functions, workforce management and talent management is really important. This is how FinancialForce HCM is designed.
Social, Mobile and Global: Being social and mobile is the norm in any software today. Social referrals, 360 degree social feedback, content sharing and mobile tracking are key ingredients that not only increase user adoption but also increase visibility, engagement and productivity. Information available on mobile equates to information available 24×7, anywhere. For example, if performance review approvals or hiring request approvals can be executed by mobile, there would be less lead time for admin process. When discussions around HR items can be tagged via an internal social network (Chatter) rather than long email discussions, and those involved are able to see the history of these items, everything is much easier and includes more context.
Analytics: With the Salesforce1 Platform, the analytic reporting that covers a broad range of employee information is available within the platform itself. Every field in the Salesforce1 Platform is reportable and there are more than 70 pre-delivered HCM reports – consolidated and integrated with various employee dimensions highlighting useful strategic insights. Moreover, if your employees are using Salesforce CRM, those metrics can be combined with HR performance reviews and compensation reviews.
Overall, the seeds for success are sown into the design of any complete HCM solution; and it’s the best practices and implementation that add the cherry on top.