siness Process & Applications Professionals
2
HR Systems Combine Core Transactio ns With Talent Management
Human resource management system (HRMS) applications consist of a broad set of business
process and analytical capabilities spanning the employee life cycle, from hiring and onboarding,
personnel and benefits administration, compensation, payroll, compliance, performance management,
succession planning, and career development.
The HRMS Is An Essential Corporate Application
The HRMS is a foundational application suite used by companies of all sizes and in all industries.
The need for an HRMS is driven by several fundamental and potentially mission-critical business
needs including:
· Managing personnel costs. Labor costs are among the largest operating cost categories,
accounting for an average of 36.4% of total operating costs and 29.8% of total revenues for US
companies.1 Organizations use the HRMS to plan and budget salaries and positions, maintain
consistent compensation and promotion practices, control hiring, and manage layoffs.
· Operating efficient business processes. The HRMS supports a myriad of HR business
processes, including personnel actions, keeping employee records up to date, paying employees,
and managing benefits. These activities have traditionally been labor-intensive and paper-based.
Efficiency gains come from making these transactions directly accessible to employees and
managers without paper and clerical intermediaries, via Web-based functions within the HRMS.
· Complying with regulations and managing legal exposures. Another important reason to
invest in an HRMS is compliance and risk management. Numerous compliance laws and risks
exist that are related to equitable pay, overtime, time off, hiring practices, employee conduct,
and working conditions. The HRMS, as the system of record for employees, helps to meet
compliance obligations and manage risks.
· Increasing the value of human capital. Despite the economic slump and overstated vendor
hype about the “war for talent,” few would argue about the value of human capital as a corporate
asset. This case can be made whether the company is services-based or heavily invested in
physical assets. Organizations with a strong HR function will focus on performance, employee
development, and rewards programs to achieve better retention and higher workforce
productivity. A comprehensive HRMS, often supplemented by best-of-breed talent management
solutions (e.g., learning management systems), supports these human capital initiatives.
© 2008, Forrester Research, Inc. Reproduction Prohibited October 28, 2008
The Forrester Wave™: Human Resource Management Systems, Q4 2008
For Business Process & Applications Professionals
3
HRMS Footprints Gain In-Depth And Global Capabilities
Although the overall breadth of HRMS application suites has not evolved significantly over the past
several years, depth of functionality has improved in several areas (see Figure 1):
· Talent management. Best-of-breed talent management solutions continue to be preferred by
HR process and applications professionals, but comprehensive HRMS applications continue
to add depth in this area. Progress can be seen in performance and competency management,
although learning management and succession planning still lag well behind best-of-breed in
most of the solut
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