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Top 10 HCM Software In 2023 (HR System, Best Human Capital Management Software)

Most companies don’t understand the difference between HCM and ERP software. They feel that ERP software is a solution to all of their problems. Unfortunately, while ERP systems might be able to cover 60-70% of the business processes, HR processes require a different system. The HR processes go through different compliance requirements and segregation of duties as they need to comply with labor laws, which are typically different from financial regulations. These regulations might be so convoluted and involved at the county, state, and country levels that ERP systems might leave holes to your compliance processes, and because of this there might severe penalties. The HR data is also highly sensitive such as the gender or salary information of employees. And failing to maintain confidentiality may draw litigation for the companies. But even among HCM systems, there could be several options. Even among these options, there are nuances as the labor laws are different for union workers vs white-collar workers. Also, the compensation processes could differ significantly across industries. The major variables for HCM solutions are industry, target market, and size of the workforce. The smaller solutions might not provide enough separation of duties or workflows that larger enterprises would need, while the larger solutions might be too overwhelming. So what are the factors you need to look at while reviewing different HCM systems available in the market? Are you simply looking at the feature sets? Do you need to pay attention to the size of the product? How about the technology and platform? That's exactly what we have discussed in this video. We have analyzed the top 10 HCM systems and their pros and cons.. ------------------------------- Resources and Links Top 10 HCM Software In 2023 https://www.elevatiq.com/post/top-hcm... Download our 2023 digital transformation report: https://www.elevatiq.com/Guides-and-R... Download our ERP Selection Requirements Matrix: https://www.elevatiq.com/resources/ER... Download ERP Systems Scorecard Sheet: https://www.elevatiq.com/resources/ER... Insights on ElevatIQ: https://www.elevatiq.com/blog/ WBSRocks Podcast: https://podcast.wbs.rocks/ ------------------------------------- If you have any questions or comments about how to choose a HCM solution for your specific requirements, don’t hesitate to leave a comment on this video or drop us a line at [email protected]. ------------------------------- Find me: LinkedIn:   / samguptausa   Twitter:   / samguptausa   Listen and subscribe: 🎧 Apple: http://ow.ly/UHT950HKrf8 🎧 Spotify: http://ow.ly/1vYw50HKrf0 🎧 Google: http://ow.ly/JMBG50HKrf7 ------------------------------------- #HCM #HR #HumanResources