Global HCM: Powering Organizational Efficiency & Goals
This is where Global Human Capital Management (HCM) comes in. Global Human Capital Management (HCM) is a strategic approach that helps organisations effectively manage their human capital resources across different geographic locations and jurisdictions. With the rise of globalisation and remote workforces, managing human capital on a global scale has become a critical challenge for businesses. Choosing a Global HCM solution can solve this challenge by offering integrated systems and processes that enable businesses to efficiently manage employee data, payroll, benefits, performance management, and other HR functions.
Global HCM includes various services and tools to attract, recruit, train, develop, manage, and retain employees to achieve business goals. These services include multinational payroll, local service capabilities, compliance across all geographical areas of operation, self-service application and tracking systems for time and attendance, HR help desks, intranet portals, employee self-service, manager self-service, and HCM analytics.
Choosing a Global HCM Solution: What to Consider
- Consider Global HCM soluion with features such as recruitment, applicant tracking, onboarding, benefits enrollment, performance reviews, and position management.
- Choose an HRIS that can handle global compliance requirements and support multiple languages and currencies.
- Ensure the HRIS can integrate with other systems such as payroll and time and attendance.
- Consider the scalability and flexibility of the Global HCM solution to accommodate future growth and changes in the organisation’s needs.
- Consider the implementation process and the level of support the HRIS provider provides.
- Evaluate the ROI of the Global HCM solution.
- Consider unique requirements, such as complex rostering or benefits calculations.
- Evaluate features such as multinational payroll, local service capabilities, compliance, self-service applications, HR help desks, intranet portals, employee self-service, manager self-service, HCM analytics, and seamless integration with other HR systems.
Key features of Global HCM for managing a global workforce:
A leading Global HCM provider should offer automation, regulatory compliance, and seamless integration features. Besides the essential features of employee data management, regulatory compliance, data-driven decision-making, and transformation capabilities, other features such as integration, automation, self-service options, analytics, and support provided by the provider should be considered. Overall, a well-designed Global HCM solution can help organisations streamline HR processes, enhance compliance, and provide valuable insights that support data-driven decision-making, resulting in a more productive and engaged workforce.
Choosing a Global HCM solution for managing a global workforce requires careful consideration of several factors. It is crucial to evaluate the organisation’s needs and goals, the features of the Global HCM solution, the Solution provider’s reputation, experience, and support services, and the cost of the solution. With the right HCM solution, organisations can streamline HR tasks, access real-time data, avoid compliance penalties, and improve organisational efficiency.
BGC Partners overcame payroll issues with an integrated, end-to-end Oracle Cloud HCM resulting in significant time savings, allowing focus on strategic initiatives.
The Riverside Group is one of the UK’s leading registered social housing providers, with over 3500 employees and over 75,000 homes