Adopting HCM Software Market 2021

The COVID-19 pandemic has accelerated the use of HCM software in India. However, businesses have been investing in human capital management software in 2021 more than last year. Almost every industry, from healthcare, financial to manufacturing, has adopted such systems that have led to a dramatic growth of the HCM software market.

This is when a big question comes into the picture, why are businesses across India switching from manual tools to automated HCM systems? The simple answer is that such solutions make HRM simpler and efficient for businesses even in a hybrid environment.

Here are the top three ways HCM software is helping companies:

Boosts Efficiency Levels

HCM solutions, first and foremost, make HR professionals more productive. Since such systems are fully automatic, they require a bare minimum of human intervention. That means HRs will just have to give the necessary input and the system will do the rest. This way, HR managers save time and energy that can be put into other value-adding and revenue-generating activities.

Improves Compliance

HR departments are faced with an increasingly complex and varied regulatory environment. Amid managing a host of routine processes, HRs often do not find time to update themselves about the latest legal developments. Fortunately, HCM software auto-updates HR executives whenever a new law is introduced or amended, thereby helping them carry out operations with complete compliance.

Enhances Employee Engagement

Top-notch HCM systems also offer an employee self-service portal to empower employees. Using the ESS portal, employees can do several easy tasks on their own. From checking attendance to downloading salary slips, they will have autonomy on many things.

So, the aforementioned are the top three ways HCM software is helping HRs. Not to forget, these are also the reasons why more and more Indian firms are implementing such systems and increasing the HCM market lately.