Current Trends in Hr

HRIS software is designed to manage people, policies and procedures. the major characteristics are:-

* Recruiting / ATS (Applicant Tracking System)

* Core Human Resources

* Benefit Administration /Open Enrolment

* Absence Management

* Compensation Management

* Training & Development

* Workflow

* Self-Service (Candidate / Employee / Manager)

* Reporting

HCM (Human Capital Management)

HCM software includes every element of an HRIS, but adds Talent Management and global capabilities such as multi-lingual, multi-currency, country-specific formatting and possibly localization.

Listed below are what I believe to be the major functional elements for a vendor to call its solution an HCM.

* HRIS

* Onboarding

* Performance and Goal Management

* Position Control / Budgeting

* Succession Planning

* Salary Planning

* Global

* Analytics

* Learning Management System (LMS) – This functionality is not typically part of an HCM since the primary purpose is the actual content and delivery of e-learning vs. the technology or the mechanism to track employee development.

HRMS (Human Resource Management System)

HRMS software providers typically cover every element of an HRIS and many include the capabilities of an HCM. Because the HRMS business is so massive and covers such a wide range of employee size and functional requirements, not all HRMS providers have a progressive Talent Management component included in their offering. Some of the HRMS vendors look like this [HRIS + (Payroll + TLM) = HRMS] while others have built their offering to look more like this [HCM + (Payroll + TLM)]. Two characteristics of any true HRMS are the following:

* Payroll

* Time & Labor Management (TLM)

* Scheduling – Not all HRMS providers offer Scheduling capabilities within their offering.

What is the difference between HRMS, HRIS and HCM?

The HR industry and HR software sellers appear to use them...