What You Need to Know
3Sixty Insights spoke with a customer of Unit4 whose choice to continue their transformation by moving their human capital management (HCM) and financial planning and analysis (FP&A) tools to the cloud helps illustrate several emerging realities.
Much of the need for HCM resides beyond HR’s traditional scope. HCM technology is at its best when integrated seamlessly with other domains of the enterprise. It provides deep companywide insights into the organization’s people data. This, in turn, furnishes leadership and line managers alike with the information they need to make real-time, informed decisions on staffing for optimal organizational resilience—e.g., workforce agility, financial control, cashflow management, reduction in staff turnover, right-fit talent for organizational growth, etc.
People-centric organizations tend to have forward-thinking leaders in HR who deliver new sources of value based on the insight gained from their HCM solution, thus bringing about positive impacts to the bottom line, and lifting HR out of its historical charter as a back-office necessity. Stakeholders throughout the organization are wise to partner with these progressive HR practitioners. Their doing so requires a transformation in organizational culture to equip organizational leadership and line managers for the pivotal roles they play in supporting and improving the employee experience.
It is time for organizations to put more trust in HR leaders’ ability to determine the right HCM technology stack for supporting people-centric goals that optimize employees’ impact on generating revenue. HCM is bigger than HR. When an HR team, with the full confidence of the organization behind it, selects the right integrated technology stack and sets in motion the change management necessary for success, the contribution to people experience and organizational success is clear.
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