Human capital is arguably the most important resource a company has. Managing the people who work for you is critical to business success. The best human capital management software makes it possible to find better talent, easily train workers for new roles, manage health insurance and other benefits seamlessly, process payroll automatically, and more.
Managing your employees well without this kind of comprehensive software is certainly possible, but it will take a lot of time and resources you could otherwise devote to other aspects of running your business.
Here's what you need to know about the top human capital management software and how to choose the right one for your needs.
What is Human Capital Management Software?
Human Capital Management (HCM) software, also known as Human Resources Information Systems (HRIS), covers a wide range of human resources management tasks. Everything from hiring and onboarding to payroll and benefits are covered by top HCM software. In general, this software aims to make every aspect of managing human resources easier and more effective.
What is the Best Human Capital Management Software?
The best HRMS software is Workstream if you have hourly employees. Regardless of how big or small your business is, Workstream offers great solutions to make onboarding, hiring, and management quicker, simpler, and more effective.
Top Human Capital Management Software
GoCo HCM Software
● Allows for E-documents and signatures
● Hour tracking and payroll processing
● Automated onboarding
GoCo HCM Software is great for managing small business employees. It's highly versatile, which means you can apply the parts you need and ignore the parts you don’t. Employees can handle a lot of data entry themselves, saving you time. This software is extremely affordable, making it an excellent choice for small businesses and startups who aren’t sure that HCM software is worth the investment. Manage your employees to your satisfaction, without having to do more than you want.
Do you have a workforce that's constantly on the go? Workstream can make human resources management a lot easier for businesses whose employees aren't tethered to a desk. It is tailored towards businesses who employ hourly workers.
Workstream makes hiring and managing hourly employees a lot easier, especially if you are on the go as much as your employees are. You can hire applicants right from your phone, dramatically reducing the time spent on the hiring process and allowing you to get it done whenever is convenient for you.
Workstream can also be integrated into a range of other HR platforms, enabling you to build a system that works for your specific needs. Workstream is big enough to handle huge companies like FedEx and Taco Bell, but flexible enough to work well for small businesses with hourly employees.
Workstream can be a huge relief for business owners who feel like they are always jumping from one thing to another. All job postings, no matter what platform they're posted on, can be managed easily through Workstream. Applicants are more likely to apply since they can do so using text messaging. You'll be able to schedule interviews faster thanks to the automated response to applicant text messages prompting them to schedule an interview.
Hourly businesses who want to make hiring and managing as easy as possible are unlikely to find a better option than Workstream.
● Tracks hours and records attendance
● Strong onboarding assistance
● Innovative goal tracking
BizMerlinHR is a better fit for midsize and larger businesses, but it’s still a great option for managing hourly workers. It's affordable, especially considering its functionality. There are a lot of features in BizMerlinHR for a reasonable cost, but all of these features may be a bit overwhelming and unnecessary for smaller businesses.
One feature this software offers which is a bit unusual is the ability to create goals for your company and be notified when you achieve them. For companies struggling to motivate managers and employees, this kind of objective goal tracking is a great tool.
● Integrates with a variety of tracking systems, enabling you to customize your management software
● Offers an inexpensive starter plan but can grow with your business
● Specializes in onboarding
Does your business tend to have high turnover? If you are in the restaurant or retail industries, you probably put a lot of your human resources management energy into hiring and onboarding. Gusto is an excellent option for smaller businesses who spend a lot of time hiring.
You can post a job publicly and track applicants right through the app. You can also customize a checklist for the onboarding procecess. Gusto offers the services of a dedicated human resources expert to answer your questions, something you can't expect from most platforms.
● Submits payments directly to employees
● Innovative features are continuing to evolve
● Manages payment and benefits
If you run a large business or chain of businesses and have a lot of hourly workers to manage, UltiPro it is a great option. It makes scheduling shifts a lot easier when employees have frequently changing time off requests, missing shifts, and other curveballs.
UltiPro also helps manage performance reviews, which is useful when not all managers have knowledge of each employee’s performance. Users of UltiPro find that it is constantly changing and getting better. For large businesses looking to cut any amount of wasted time, this constant growth is very compelling. For smaller businesses who don't want to keep struggling to learn new ways to do things, it can be frustrating.
● Powerful and easy-to-use analytics
● Offers a range of features to improve employee engagement
● Good customer service
For businesses who like data driven decisions, iSolved is a great option. It offers analytics that dive deeper than most other human capital management software but are still very easy to use and understand. These kinds of analytics can allow you to build your management system around your unique business and employee needs.
iSolved offers a range of employee engagement improvement features that make it easier to keep making your employees and your business better. For companies that would rather have employees managed without spending a lot of time digging into the data, iSolved may be overwhelming and unnecessarily complicated.
● Designed specifically for retail employee management
● Offers start-to-finish oversight for each employee
● Excellent for compliance maintenance in the face of high turnover
In retail? UKG Ready might be a good HCM software option for you. Management solutions are provided for every step of an employee’s experience at your business, from sourcing and hiring to exit interviews.
UKG Ready also makes it easy to maintain compliance with all regulations, despite the high turnover that tends to exist in retail. This is a system designed to eliminate as much repetitive work as possible, making every aspect of your retail business more efficient as well as consistently compliant.
● Complete technology management system for restaurants, not just human capital management
● Easy to set up and run
● Provides insights and opportunities to grow your business
Designed specifically for the restaurant, food, and beverage Industries, Toast is an all-in-one platform. It offers much more than human capital management software, also including point of sale systems, online ordering, and more.
For smaller restaurants, bars, food trucks, and anyone else in the food and beverage industry, this kind of all-in-one solution can be a huge time saver. It will take much less time to set up Toast and get your restaurant fully integrated than to use different software for all the different requirements of your company. That said, restaurants that want a little bit more flexibility in their systems may find Toast to be limiting.
● Flexible enough to work with a wide range of industries
● Designed to streamline processes and save money for the company
● Offers good analytics to enable smart decision making
Whether you have 150 or 5,000 employees, Sage People is a good fit. It’s a good option to grow with if you expect your company to expand soon.
Clever automation strategies, data-driven insights, and a lot of flexibility make Sage People a powerful choice for businesses that place high demands on their human capital management software. Sage People is designed to streamline processes, enabling you to save time and money when it comes to managing employees. The flexibility of the system enables it to adapt to the needs of a variety of business types.
Smaller businesses or those that don’t need much from HCM software may find Sage People to be too feature-heavy and difficult to learn.
Which HCM Software is Best?
The best HCM software depends on your business's specific needs. For businesses who employ hourly workers, Workstream is your best bet. If you want software that offers superb analytics, check out Sage People or iSolved. Want to handle every aspect of human resources remotely? CloudSuite HCM will put everything on the cloud for you.
Whatever your needs in human capital management, one of the systems on this list is sure to meet your needs. Remember that the best human capital management software for one company isn’t always best for another, so be critical about what your company needs (and doesn’t need) to choose software that will work for you.
Learn More About Human Capital Management Software:
Workstream is a hiring platform that helps employers get 4x the number of qualified applicants. The world's most trusted brands use Workstream to optimize job board postings, automate screening and interview scheduling, communicate via text message, and streamline the onboarding/training process. See what all the buzz is about by scheduling a demo or email us email@example.com!