What is Human Capital Management?

What is HCM? And why is it important to services organizations?

Right skills, right jobs, right time

Managing the "bench" is often the top challenge for professional services businesses. Successful, profitable projects depend on having the right people with the right skills at the right time. That might sound simple, but without visibility into potential projects, current capacity, and the potential supply of candidates, project managers can easily find themselves short of the right skills and resources to meet project needs.

To overcome these challenges, top services organizations are investing in integrated Professional Service Automation (PSA) and Human Capital Management (HCM) systems to remove the resource management guesswork and drive predictability and profitability.

Best-in-class HCM from FinancialForce and ADP

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Benefits of Human Capital Management

Connecting your people to project data

By integrating sales, services, and HR technologies, people and project data can be unified, allowing services organizations to vastly extend their visibility beyond mere project tracking. Services leaders get visibility into all facets of the business—consultant availability, skills, certifications, absences, current and upcoming projects, project experience—so they can better predict talent needs, balance resource supply, and prompt any necessary recruiting. Ultimately, the resource plan is easily translated into a recruiting and performance management plan.

Smart bench warming

Through the services and HR integration, services teams can work even more closely with HR teams to expedite the processes of recruiting, onboarding, and activating team members to staff projects quickly. The recruiting team gets early insight into upcoming requirements and in-demand skills to ensure a “warm pool” of qualified applicants are always available for new opportunities. All the necessary recruiting and management decisions can be made faster and more strategic.

Onboarding the best

Fierce competition, increased demand for skill sets, and shortened timelines — these all call for a powerful, integrated talent acquisition solution. You will benefit from a fully automated hiring process which makes it easy for recruiters and managers to source the most qualified candidates. The right system will also provide tools like self-service learning and mobile and social collaboration to help your new staff get up to speed quickly and effectively.

Making smarter decisions

With the unified people and project dataset, building meaningful reports and dashboards with real-time insights is dramatically simplified. Everyone involved will be able to quickly see things like hiring gaps and skills needed or understand the impact that worker performance has on a project without the need to create a data warehouse.

Finding the right solution

Leading analyst research firms report that services organizations benefit most when connecting their project-based ERP and HCM systems. FinancialForce and leading HCM provider ADP joined forces last year to offer an integrated project and talent management solution that brings services and HR data together, delivering a unified view of people, skills, and projects. This collaboration provides organizations with the tools and visibility they need to understand their team’s capacity and skills, work smarter with HR, and keep teams happy, productive, and engaged.

By connecting FinancialForce PSA with the ADP Workforce Now® HCM solution, services organization are able to dynamically optimize resources with greater efficiency and predictability to keep projects on track and customers delighted.