Top 10 Best Human Capital Management (HCM) Software in 2024
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Organizations know that their most valuable asset is their human capital or the skills, knowledge, and experience possessed by their employees. These qualities can make or break a company, so many companies have begun to dedicate more resources to their recruiting, training, and maintaining top talent. Investing in software to more effectively manage employees and their skills is therefore vital to a company’s success.
Here at Matchr, our certified HR software experts use a comprehensive testing and evaluation process to provide unbiased HCM software recommendations.
After going through different HCM (Human Capital Management) software platforms, we have created a list of the best human capital management software solutions. Our selections are based on their exceptional functionality and features, supported by in-depth research to assist you in making informed decisions when it comes to choosing the best HR software for your organization.
Matchr’s Top 3 Picks
WorkforceTHRIVE HCM
Vista
isolved
Trusted By
Matchr’s List of Top 10 Best HCM Software Recommendations for 2024
1 WorkforceTHRIVE HCM
WorkforceTHRIVE is an ever-evolving solution that is updated routinely to continue to meet changing organizational and legislative needs and requirements. While the technology is deep, it’s easy to use and understand, making it a great choice when looking for a new HCM to implement into your company. They provide a detailed discovery process that allows you to sit down with their team to help them understand your needs, which is then followed by a demo tailored to those same needs.
Why WorkforceTHRIVE HCM Made Our List of Best HCM Software
- Enhanced talent management including performance, compensation, succession, and perspective analytics
- Sales and implementation are on the same team to help ensure expectations are met without surprises
- Ongoing client training that includes new user engagement, monthly status checks, webinars, and training sessions to ensure that organizations are getting the most out of the system
- Direct-dial support as well as 24/7 emergency support outside of extended support hours with a knowledgable, capable, and tenured support staff
2 Vista
PDS has been a leading provider of HCM systems since 1974 and PDS’ Vista is a core suite of recruiting, onboarding, human resources, benefits, payroll, time and attendance, and more. This HCM software solution is for organizations based in the United States, Canada, or the Caribbean and encompasses all the necessary pieces of managing human capital. Vista is a single integrated solution, but its individual components can be developed in phases according to your company’s needs and priorities. You can manage your Vista tools via the cloud or on-premise, allowing you to securely manage your HCM environment in any way you desire.
Why Vista Made Our List of Best HCM Software
- Deployment choice of On-premise, Hosted, or SaaS
- Single, integrated recruiting, onboarding, HR, benefits, payroll database that simplifies reporting
- Translation component that enables applicant recruiting and employee self-service outside of the U.S. and Canada
- e-Assistant that provides superior assistance with directory services, workflow, and task scheduling
3 isolved
A self-proclaimed most-trusted HCM technology leader, isolved provides the best combination of software and services to meet the needs of organizations. They provide direct solutions through their HRO partner network to more than 6 million employees and 168,000 employers across all 50 states. isolved uses an intelligently connected platform called People Cloud to automate the entire employee experience so that organizations can engage, empower, and energize their talent while freeing up HR managers to exceed their goals and grow their careers.
Why isolved Made Our List of Best HCM Software
- Strategic HR technology that improves organization efficiencies and profitability
- Proactive compliance with nimble software that rapidly evolves with the organization and industry
- Comprehensive platform that meets the company’s unique needs regardless of industry or size
- Reports help to demonstrate ROI quickly and reduce redundant data to make HR more efficient
4 PeopleGuru
PeopleGuru provides HCM software that allows all your HR tools to be on one platform. From best-in-class software to managing HR and payroll services, PeopleGuru is powerful enough to manage thousands of employees through the entire employee lifecycle. Helping you succeed is what PeopleGuru does best with help just being a phone call away. Their dedicated HR experts are always ready to handle any unique challenges you may face.
Why PeopleGuru Made Our List of Best HCM Software
- Data management and file management are easy to access with a one-click solution
- Very intuitive and clear layout, making it easier to learn the HCM software
- Easy to create customized reports and put data into different formats
- Friendly team of integration specialists to help companies transition to their HCM
5 EPAY Systems HCM Software
EPAY offers a comprehensive HCM software system that works for many businesses in various industries such as manufacturing, healthcare, staffing, and hospitality. From a single sign-on point, users can access all available modules and navigate through them with ease. The system can handle many complex rules and make users feel that the system has simplified these complex aspects for them. EPAY is a forward-thinking company that offers a robust solution for the remote workforce in a simple format.
Why EPAY Systems HCM Software Made Our List of Best HCM Software
- Tax calculation capabilities for all U.S. states and local jurisdictions
- Labor budgeting and management as well as a fixed rate per employee per month
- Ability to easily integrate with existing HR, Financial, and ERP systems
- Highly supportive, free, 24/7 customer service
6 Centrally HR
Centrally HR is powered by CBIZ which offers financial, benefits, and insurance services to their clients. This software is cloud-based and designed for companies to manage diverse and global workforces with different payroll and benefits needs. Their experience in benefits and insurance allows them to implement modules with information that can help employees navigate the many intricacies of benefits packages. The platform is an end-to-end solution that helps companies manage every aspect of HR so that they can increase productivity, profits, and employee satisfaction.
Why Centrally HR Made Our List of Best HCM Software
- All products are built on the same interface, so employee data is on a singular record flowing between each tool
- Multiple options for employees to track time such as punching in/out, cost centers, and time off requests
- No need to import or export data in the system since it is all used in one place
7 Vibe HCM Software
Vibe HCM believes that HR technology should be about culture, connecting people, creating excitement, effective communication, efficiency, job satisfaction, and world-class HR service through technology. To them, it’s more than simply processing back-office transactions and is more about becoming an integral part of your company. Their software delivers a superior employee experience with a 90% usage/adoption rate. This deep level of engagement makes them unique to their customers and gives them an opportunity to drive transformative change throughout their organization.
Why Vibe HCM Software Made Our List of Best HCM Software
- Personalized access to HR tools, social connections, experts, recognition, communications, and engagement surveys
- High employee adoption rate and seamless user experience
- Embedded HR analytics in the hands of your decision makers and unparalleled visibility into your talent pool
- Ability to highly personalize your employee’s experience
8 Greenlink Payroll
Greenlink has a philosophy to help companies hire and retain top talent by automating as much of the hiring and onboarding processes as possible. By doing so, they believe they’re improving efficiency and employee experience. Additionally, Greenlink aims to help companies reinforce their company culture and employee training through its multitude of talent management tools and features. Companies have the ability to add additional features as needed to customize their user experience, but Greenlink is a one-stop shop for all HR and payroll needs.
Why Greenlink Payroll Made Our List of Best HCM Software
- The Greenlink support team is always available to help organizations through the implementation process
- Ability to have an HCM that keeps up with the everchanging climate of payroll and HCM
- Seamless transition from other HCM software
9 Empeon HCM
Empeon is an enterprise-level payroll and HR SaaS solution that offers a customizable, user-friendly HCM system. Using customizable workflows and online document storage, you can reduce your time spent with paperwork and will be able to focus more on your organization and the happiness of your employees. Empeon has tailored every facet of their HCM platform needs of the healthcare industry, including home care and hospice.
Why Empeon HCM Made Our List of Best HCM Sofware
- A proprietary system that securely and quickly transfers all your data with ease
- HCM experts learn your business processes so they can automate and simplify them
- U.S.-based support team of engineers and HR client specialists is always available to assist you
- Ability to minimize compliance risk while maximizing employee engagement and loyalty
10 OnePoint HCM
OnePoint, as its name suggests, creates one point of access for all HR data. They offer both payroll and HR features as well as connecting other systems together and syncing data into one single infrastructure. OnePoint’s database helps streamline the entire employee lifecycle and offers one login access to self-service tools to increase compliance and support better decision-making across the organization. This HCM software is multi-tenant, fully mobile, and supports API integrations to third-party applications like Indded and Google GSuite.
Why OnePoint HCM Made Our List of Best HCM Software
- Full transparency in what is offered and what is not offered
- Ability to configure the product to the organization’s needs with the help of the friendly customer support staff
- Ability to easily fill out timesheets, submit PTO, and find tax documents all within the web-based and mobile app
- No issue is too complex for OnePoint’s expert support team to help solve
What Is HCM Software?
Human capital management (HCM) software offers an array of applications that are designed to assist in the acquisition, tracking, and development of employees – effectively automating and streamlining the processes. Matchr aims to show you top HCM software, their most notable and useful functions, and how these functions can help companies optimize their time and resources and in which ways they affect the global workforce.
What Is the Difference Between HCM and HRMS?
With so many software companies releasing different HR management software, it can be hard to distinguish systems from an HCM or an HRMS. The terms are often used interchangeably, mainly because their functionalities are similar, but there are still some distinctions that differentiate proper HCM software from HRMS.
On the basic level, HCM software is used to strengthen the workforce, while an HRMS is used to make it as easy as possible to manage all tasks related to HR management. More detailed lists of the different goals of both of these software systems can be found below.
HCM Software
The common goals of HCM software include:
- Locate and hire skilled workers
- Raise skills standards within the workforce
- Boost company productivity
- Establish performance goals and track progress
- Focus on employees as individuals
- Support employee development
HRMS Software
Some of the major goals of using a HRMS include:
- Automate payroll
- Ensure accurate record-keeping
- Streamline benefits administration and management
- Connect recruiting and training to the database for ease of organization
- Broad focus on the workforce as a whole
- Assistance with compliance
What Is the Purpose of HCM Software?
Human capital management is the process of hiring the right people, managing workforces effectively, and, overall, optimizing productivity. Previously just being an administrative function, it has become a critical and essential part of a business. There are many functions included in HCM software that all have their own benefits and uses.
Organization Management
Flexible organization is essential when it comes to managing a company, and HCM software provides features to assist in making organization easier. The most important entities within each business are “divisions”, “departments”, “locations”, and ”grades.” These different entities have different classifications and entitlements within the company. The HCM software can help keep track of all employees and their different specifications, making it easier to grant them clearance to necessary information, and keeping them from accessing any sensitive information that isn’t important to their job functions. Additionally, if any changes are needed to an employee’s classification or clearance, the software is flexible enough to allow modifications.
Recruitment
HCM software provides cost-center-wise budgeting of manpower and allows budget owners to have visibility on their available budget throughout the hiring process. This software also provides integration capabilities to activate, publish, and unpublish job openings on various job boards and portals. They also provide features that help management coordinate the evaluation processes of prospective candidates through many rounds of interviews and assessments. Toward the end of the recruitment process, HCM software makes a seamless transition for the candidate to become an employee by automatically carrying the majority of their data to the corresponding new employee records and paperwork.
Employee Records Management
Employee records are the most important portion of HR, which forms the basis for all transactions within the organization. The employees’ personal information, attendance records, pay stubs, and other employee data need to be securely retained in a simple database. The HCM software can accommodate all the employees’ data and can even contain multi-national records to help with globally-operating businesses. Additionally, HCM software modules enforce strict, role-based access control to ensure data privacy, confidentiality, and security.
Performance Management
Companies must have a comprehensive performance management system to cover the entire spectrum of the process. From identifying goals to recording reviews and initiating appropriate actions based on the information provided. The HCM software allows managers to clearly define key result areas, corresponding metrics, and key performance indicators as well as any behavioral or technical competency that is required for each role within the organization.
Learning and Development
HCM software has the ability to allow employees to register their own training needs – both behavioral and technical – that they feel are critical to their job performance. This includes a self-service module, where their request would trigger an approval workflow for the manager to approve. The HCM learning and development software can be easily integrated with budget and attendance software to help employees and managers keep track of training budgets and time.
Succession Planning
HCM software has dedicated modules that allow managers the ability to identify top performers and high-potential employees on the basis of their performance feedback and put them on a succession planning path. This mitigates key person risks and ensures that high-performing employees are given more leadership opportunities within the company. The HCM software has the ability to continually generate relevant analytics and visualization for each employee, allowing for more accurate succession plans.
Attendance and Leave Management
With a remote work model, companies are embracing technologies that allow managers and employees to electronically track their attendance and their leave/vacation days. HCM software is able to integrate seamlessly with many devices and applications to accept and refine attendance data. Additionally, different positions may have different leave criteria, which can then be managed through the HCM software. Through the software, you can analyze and handle any outstanding attendance issues.
Employee Self-Service
A large chunk of HR’s business day revolves around correspondence to employee inquiries. They can be simple requests for paystubs, but they still require the attention of HR managers. With an HCM, there is the ability to include employee self-service functions, allowing employees to access their paystubs and leave data all on their own. This allows HR managers to use their time and resources on other, more immediate tasks that need their attention. This also prevents employees from having to wait for responses to access their data.
Why Should You Use HCM Software?
The advantage that HCM software provides is the company’s ability to get the most out of its employees. It lays out a comprehensive plan for attracting, hiring, and inducting top talent, encouraging employee participation, and assessing and evaluating employee performance and satisfaction. HCM software streamlines HR functions and provides a number of benefits for employees and managers alike.
Streamlined Recruitment
HCM software provides recruiters with a directory of individuals with the most relevant abilities and experiences as they pertain to each job position. This makes it possible to attract top talent that is most likely to excel in the job. This also simplifies onboarding by strategically hiring candidates that can produce the best results. Additionally, HCM software can support already used recruitment software and talent management systems by assisting with online job posting, tracking applications, and digitizing documentation.
Tailor Positions to Employee Skills
In addition to streamlining recruitment, HCM software can also assist companies in matching people with different roles that align with their abilities and previous experience. This helps not only employees find relevant positions, but it guarantees that companies are able to find candidates who are qualified and eager to join their team. Employees are satisfied when they have positions that allow them to utilize their skills and knowledge and the company benefits from the employees’ increased productivity, efficiency, and dedication.
Performance Evaluations
HCM software has increased the accuracy of performance reviews by offering a variety of employee evaluations such as self-reviews, peer feedback, and manager ratings. This helps employees get useful feedback on their work while also encouraging them to perform even better. Through these evaluations, managers can also identify any problem areas that the employees may be experiencing. This can help HR come up with new training programs or team-building exercises if necessary.
Promote Career Planning
With the help of HCM software, employees can have more control over their careers. They use teaching, assessments, performance reviews, and many other forms of evaluation to identify skill shortages. This allows employees to recognize areas in which they need improvement and take their learning and development into their own hands.
Operations Efficiency
The main goal of HCM software is to make the most out of available resources to maximize profits and foster employee satisfaction at the same time. It boosts productivity by providing adequate training that develops specialized skills that your company needs to achieve its objectives. Managers are also able to place employees in positions where they can achieve the best results, increasing efficiency.
How To Select the Best HCM Software
With so many functions and features, it can be a daunting task to find the best HCM for your organization. It’s important to find a software system that can connect people and workflows in meaningful ways while also helping your company meet its goals. After all, the right HCM software can enable growth and improve overall productivity and employee engagement.
Step 1: Identify HCM Requirements
The first step to finding any new software or technology to implement in your organization, you want to take the time to identify the “why”. Why should you/are you implementing this new software? What do you want to accomplish, change, or improve? What makes this software different than what you’re doing right now? By asking these questions, you can identify what you need from your new HCM software, helping you to effectively plan for the implementation and adoption of the system.
Step 2: Ensure HCM Compliance
If your organization spans multiple locations, especially if it’s globally operated, you want to ensure your payroll and HR systems are all in compliance. You may need multilingual systems and support modules to allow your HCM to be accessible to all your employees. An ideal HCM would help your company stay on top of rapidly changing rules and regulations. If this is something you feel your organization needs, then it’s important to keep in mind when searching for your HCM software.
Step 3: Set Up HCM Security and Privacy Requirements
You’ll need to know exactly how your organization’s data will be stored, transferred, and backed up in the new HCM. If you handle a huge volume of data, and especially if that data is critical, then you’ll want to have an HCM that has multiple layers of security. You’ll also want to work with a vendor that has advanced security and services for any privacy, fraud, and crisis management.
Step 4: Find or Develop an HCM Sofware Implementation Plan
There are a multitude of models out there that your company can use to help your employees plan for the implementation and adoption of the new HCM software. This is an essential step in ensuring that there are minimal problems in getting your new software up and running as well as the employee’s ability to use the new program. It’s important to look at vendors who have a history of seamless implementation plans and have support on call just in case.
Step 5: Evaluate HCM Vendors’ History Through Multiple Sources
Find a HCM vendor that can grow with your organization so that you don’t have to repeatedly change providers and systems. Changing HCM software can be stressful to the employees and can damage your business’ budget. Having a vendor whose technology and service that is capable of supporting your ever-changing needs and goals is essential when wanting a long-term HCM software solution.
Step 6: Use a Software Match Tool
Matchr.com offers a free vendor match tool that can help pair you with the right HCM software. All you have to do is answer a few simple questions about your organization and your needs and we’ll provide you with a list of appropriate matches. This can help to significantly narrow down your search. If you looking for free software solution, you can find best free HCM software list by visiting our page.
