It has been long past, since the days when human resource or HR was a function of an organisation. While HR deals with the primary functions of staffing needs of the enterprise, today, the scope of this department has widened manifolds, and is therefore represented best by the term “Human Capital Management" or HCM.
The scope of HCM extends to the unmitigated range of practices as well as process, for holding, engaging and managing people within the organisation. In simple terms, HCM is nothing but an extension of Talent Management.
At Kensium HR, we ensure that our HCM services are not just inclusive of payroll, hourly scheduling of the workforce, training and career development, but also collaboration of employees along with design-related practices and systems along with expense management, employee leave management, and contingent workforce management in addition to administrative and transactional aspects of managing the task force.
While many organisations have simply opted to move forth with a suitable Talent Management software system, with the fast-paced dynamism of employee engagement and retention it is becoming increasingly significant for such organisations to quickly adopt an HCM platform.
For any contemporary organisation in today’s competitive world, it is highly imperative to have a sound Human Capital Management system in place. Moreover, it is rather preferential to have additional financial management software, in order to enable the HCM team to analyse the total cost incurred with respect to the Human Capital function.
To address that need, KensiumHR offers your organisation an apt HCM system that will enable you to analyse your human capital from a holistic perspective which comprises of:
- Financial Efficiency
- Operational Efficiency
- Developmental Efficiency
HCM is a vital part of any Human Resource Management System and can help a business enterprise reap immense benefits such as:
- Cost Savings
- Increased efficacy of payroll staff
- Greater efficiency of HR department
- Better employee engagement
- Higher rate of retention of employees
- Convenient payroll vendor match
- Customised integrated payroll service
- Increased efficiency of reporting
- Better access to information
However, the advantages of an optimal HCM system are not confined to the above mentioned benefits, they also extend to:
- Increased Administrative Efficiency
KensiumHR ensures little or no redundancy of the members of staff, pertaining to functions such as data entry, search and analytics. This in turn, enables the professionals of the HR team to carry out more significant work, in the time saved thereby increasing their overall efficiency in terms of engaging and motivating the employees rather than simply maintain relevant documents.
- Flawless Communications
KensiumHR eliminates the need to communicate any changes that occur with respect to hiring, promotion or termination of employees to the Payroll Manager. These changes are efficiently updated on the system on an as needed basis, thereby ensuring timely communication along with decrease in redundancy of functions.
- Consistent Operations
Since documentation is simply shared and not repeated in the solution offered by KensiumHR, the scope of duplication errors is highly diminished. This is extremely beneficial in terms of avoidance of any discrepancies, when the documented information is used to carry out functions related to payroll, tax withholding etc.