Human capital management, or HCM, encompasses the strategic management of an organization’s workforce to maximize productivity, support its people, and achieve business objectives. Today, global HR teams can use HCM software systems to do this from one centralized platform.
But which HCM system is best for your business? We’ve compiled a list of the top HCM solutions on the market that can help you optimize your organizational goals.
Please note that while we provide insights and key features of these systems, we encourage you to conduct your own research to ensure the software meets your specific needs and organizational goals.
What is HCM?
HCM, or human capital management, is a comprehensive approach to managing an organization’s most valuable asset—its people. It includes traditional HR functions, like time tracking and payroll, as well as more strategic needs, like managing performance reviews, learning and development programs, DEI&B initiatives, and more.
Effective HCM strategies focus on optimizing the investment in human resources to achieve organizational goals through recruitment, development, and optimization of employee productivity.
What is HCM software?
HR leaders can use HCM software to manage an organization’s people efficiently. This software automates core HR functions and extends to strategic areas like talent acquisition, employee engagement, and people analytics.
The all-in-one approach supports better decision-making and enhances the overall effectiveness of HR strategies.
Top HCM software systems
HCM software systems can vary widely. Let’s examine the top systems to find the best fit for your organization.
Disclaimer: The opinions expressed here are solely those of the author and do not necessarily reflect the views of the company. Prospective users are encouraged to conduct their own research to make the best decision for their organization.
Bob
HR leaders utilize Bob’s HCM platform, which powers productivity, engagement, and retention. With Bob, HR teams can streamline onboarding processes, automate payroll processing, and access customizable reporting tools. Team members can also interact with each other inside Bob’s social media-like platform, encouraging employee engagement to form a more cohesive company culture.
Many HR professionals from businesses of all sizes report an excellent user experience with Bob. They praise its ability to simplify complex HR activities and user-friendly design, allowing them to manage HR tasks more efficiently and focus on strategic initiatives.
Key features:
- Performance management: Empower team members to grow and succeed with comprehensive tools for conducting 360 performance reviews and setting development goals
- Workforce management: Facilitate strategic planning of workforce needs to align staffing with business goals and future growth
- People Analytics: Gain deep insights into workforce trends and behaviors, enabling HR leaders to make data-driven decisions that improve HR strategies
- Anonymous reporting: Provide a platform for team members to express concerns and suggestions to promote an open and communicative environment
- Onboarding: Create a welcoming and streamlined experience for new joiners with onboarding checklists and tasks for managers, IT, and peers to ensure they have everything they need
- Surveys: Engage your team with timely surveys and gather valuable feedback to enhance workplace satisfaction and address concerns
- Compensation: Manage and automate the compensation process, ensuring a seamless operation from salary adjustments to benefits administration
- Time off: Simplify the management of leave requests and approvals with a clear view of team availability, ensuring compliance with workplace policies
- Time and attendance: Track attendance and time worked with seamlessly integrated payroll systems to ensure accurate pay
- Payroll hub: Streamline payroll processes by reducing the complexity and time required to manage employee payments effectively
ADP Workforce Now
ADP Workforce Now is an HR platform that offers HCM features, including employee engagement surveys and predictive turnover insights. The platform’s analytics provide insights into how employees perform compared to market trends. ADP offers an app marketplace to explore more options in their ecosystem.
Key features:
- Talent management: Ongoing assessments to measure employee engagement and strength, development courses for learning, and compensation benchmarks
- Analytics: Predictive turnover insights to assess team members
- Talent acquisition: Integrated screening and selection process for potential candidates, automated candidate matching, and hiring and onboarding flows for new hires
- Payroll: Automated tax calculations, time tracking, pay error detection, and insights into employee pay and earnings trends
- Core HR: Centralized employee database, automated compliant tax reporting and filing, and insights on team demographics, headcount, and attrition trends
Pricing: ADP offers three plans with custom pricing.
(Features and pricing plans are based on the ADP website and are subject to change.)
Bamboo HR
Bamboo HR offers an all-in-one HR platform with a few HCM features that evaluates employee experience and performance. It combines tools for payroll, time tracking, benefits management, and performance evaluations into one system.
With a focus on improving the employee experience and automating essential HR processes, BambooHR can help teams organize and analyze their workforce data to learn more about their employee experiences.
Key features:
- Employee experience management: Anonymous feedback surveys and frequent check-in surveys to measure mental health status
- Performance management: 360-degree feedback and customizable reflection questions and cycles for performance reviews
- Core HR: Automated payroll processing and time tracking, in-house benefits management, and hiring and onboarding flows for new hires
- Analytics: 49 built-in report options in a central database
Pricing: Custom pricing
(Features and pricing plans are based on the BambooHR website and are subject to change.)
Ceridian Dayforce
Dayforce, formerly known as Ceridian, offers an HCM suite that supports global workforce management. The platform integrates payroll, benefits, talent management, and workforce analytics into one system. Dayforce employs AI to automate and improve the flows inside the platform.
Key features:
- Workforce management: Demand-based scheduling suggestions for managers, real-time data on staffing coverage challenges, and automated time and attendance tracking
- Talent management: Personalized onboarding flows, career paths, and AI-assisted skill development plans for all employees
- Payroll: Global automated payroll processing, monitoring for compliance, and on-demand pay for employees
- Analytics: Reports for compensation, engagement, inclusivity, and succession planning insights
- Core HR: Centralized employee database and self-service capabilities for employees
Pricing: Custom pricing
(Features and pricing plans are based on the Dayforce website and are subject to change.)
Darwinbox
Darwinbox offers an AI-powered HCM platform that combines high-tech features with user-centric design to assist HR management. It provides analytics, automated workflows, and integration capabilities that help organizations manage talent and streamline administrative tasks. Darwinbox focuses on leveraging AI to improve HR processes.
Key features:
- Workforce management: Automated time and attendance tracking, hybrid staffing models for remote and on-site teams, budget tracking, and compensation benchmarking to measure how your organization compares to others in the industry
- Employee engagement: Programs for employee rewards and recognition and employee sentiment surveys and feedback pools
- Performance management: Libraries for goals, competencies, and skills, employee goal frameworks, check-ins, performance journals, and multi-stakeholder feedback reviews
- Analytics: Custom report builder, strategic insights dashboards, and role-based access controls
- Core HR: Bulk management for data, employee and manager self-service options, and recruitment and onboarding flows for new hires
Pricing: Custom pricing
(Features and pricing plans are based on the Darwinbox website and are subject to change.)
Deel
Deel offers an HCM platform designed for global teams in over 150 countries, handling the hiring process and facilitating integration into existing teams. The platform ensures compliance with local laws in each country, including mandatory PTO, minimum wage, benefits, and termination requirements.
Key features:
- Performance management: 360 feedback reviews, career paths, and customizable training courses for employees
- Compliance: Global compliance with labor laws and compliance updates flags
- Payroll: In-house payroll experts to assist managers, a point-of-contact for each country to answer local questions, local tax filing with authorities, and payslip creation and delivery for employees
- Core HR: Automated onboarding flows for new hires and a centralized employee database
Pricing:
- Deel HR: Free
- Deel Engage: $20/mo per employee
(Features and pricing plans are based on the Deel website and are subject to change.)
Eddy
Key features:
- Talent acquisition: Automated messaging at each stage of the hiring pipeline, customizable offer letters for candidates, compliant descriptions for job postings, and a questions library for interviewers
- Core HR: Automated hiring pipelines, centralized employee database, automated time tracking, and customizable PTO policies
- Payroll: Employee self-service and automated quarterly and annual tax filings
Pricing:
- Starter: $50/mo + $4/mo per person
- Growth: $75/mo + $8/mo per person
- Premium: Custom pricing
(Features and pricing plans are based on the Eddy website and are subject to change.)
Infor Global Human Resources
Infor Global Human Resources provides a comprehensive suite designed to handle HCM operations with cloud-based solutions. The platform offers workspaces for HR and managers, integrates productivity tools for in-depth compensation management, talent acquisition, and supports employee-initiated career planning.
Key features:
- Talent management: Screening flows for candidates and employee-initiated career planning flows
- Absence management: Unlimited program options for leave planning, mobile employee self-service, and a time off calendar with an automatic manager approval process
- Compensation management: Pay-for-performance programs, award incentives, and preset salary structures to help compensate employees beyond traditional paychecks
- Payroll: Payroll dashboard for administrator and automated pay cycle processing
- Analytics: In-depth reports for workforce and HR operations analytics
Pricing: Custom pricing
(Features and pricing plans are based on the Infor Global Human Resources website and are subject to change.)
Kallidus
Kallidus offers a customizable, integrated HRIS (Human Resources Information System) designed to handle HR and HCM processes from onboarding to performance management. It focuses on automating workflows, covering compliance, and simplifying the management of employee data across the entire employee lifecycle.
Key features include automated onboarding processes, real-time reporting, and integrations with major HR, IT, and finance systems.
Key features:
- Performance management: Upskill courses, continuous feedback reviews, and succession planning for employee development
- Talent management: Automated job posting to find candidates and onboarding and offboarding flows for all employees
- Compliance: Courses, training, and reports to ensure compliance
- HRIS: Centralized employee database
Pricing: Custom pricing
(Features and pricing plans are based on the Kallidus website and are subject to change.)
monday.com
monday.com provides an HR management platform with HCM capabilities designed to handle employee engagement, learning, and development. It offers tools for managing the entire recruitment and onboarding process, tracking employee performance, and handling workflow automation.
The platform uses customizable workflows, allowing HR teams to tailor features to their needs.
Key features:
- Talent Acquisition: Recruitment pipeline flows and applicant tracker for potential candidates
- Talent management: Daily employee performance tracking and preset employee wellbeing activities
- Core HR: Onboarding flows for new hires, employee feedback tracker, and centralized employee database
Pricing:
- Free: $0
- Basic: $12/mo per seat
- Standard: $14/mo per seat
- Pro: $24/mo per seat
- Enterprise: Custom pricing
(Features and pricing plans are based on the monday.com website and are subject to change.)
Oracle Fusion Cloud Human Capital Management
Oracle Human Capital Management offers an HCM suite that connects human resource processes in large enterprises. It focuses on creating a community for employees through a unified user interface with AI-embedded tools. Oracle’s HCM includes capabilities for workforce planning, talent management, payroll, and comprehensive analytics to help manage organizational HR practices.
Key features:
- Talent management: Native marketing tools for recruiting, role-based learning recommendations for employees, and preset plans for new hire training, legal compliance, and skill development
- Workforce management: Absence planning for managers, turnover analytics, automated time and labor tracking, AI-assisted shift scheduling, and monitored productivity updates for managers
- Performance management: AI-assisted employee goal planning, AI-assisted manager performance evaluations, and continuous team check-ins
- Analytics: Insights for employee headcount, hires, transfers, performance, and diversity indicators
- Payroll: Localized payroll in 14 countries, automated retroactive pay, and anytime access to pay for employees
- Core HR: Employee self-service, compliance in 200 countries, and support for unions
Pricing: Custom pricing
(Features and pricing plans are based on the Oracle Human Capital Management website and are subject to change.)
Paychex Flex
Paychex Flex offers an HCM solution that handles payroll, benefits, and HR management processes. It supports businesses of all sizes with scalable solutions that integrate with existing systems. Key features include payroll services, automated benefits administration, and personalized HR support.
Key features:
- Talent management: Dedicated Paychex HR professional to help simplify employee relations and management processes, automated applicant tracking, and hiring and onboarding flows for new hires
- Benefits administration: Options for retirement plans, group health insurance, and employee assistance programs (EAPs)
- Analytics: Metrics for hiring, labor costs, and turnover trends
- Payroll: Automated payroll processing, retirement planning, and automated time and attendance tracking
Pricing: Custom pricing
(Features and pricing plans are based on the Paychex Flex website and are subject to change.)
Paycor
Paycor provides an HCM solution designed to handle HR and payroll needs. Its platform offers payroll management, talent acquisition, and workforce management functions. Paycor can integrate with numerous external applications and provide HR insights through in-depth analytics.
- Talent acquisition: AI-powered flows for recruiting, onboarding, and talent sourcing
- Talent management: Customizable employee career paths, compensation planning, continuous performance reviews, succession planning, learning and development courses, and employee feedback surveys
- Workforce management: Automated time, attendance, and scheduling software
- Benefits administration: Paycor-guided open enrollment and pay-as-you-go workers’ compensation
- Core HR and payroll: Automated payroll processing and expense tracking and centralized employee recordkeeping
Pricing: Custom pricing
(Features and pricing plans are based on the Paycor website and are subject to change.)
People Strong
People Strong provides an HCM suite designed to handle HR operations across all industry sectors. The platform delivers solutions with AI-powered analytics and mobile-first experiences. Particularly strong in the APAC region, People Strong offers tools that handle recruitment, onboarding, performance management, and employee development.
Key features:
- Talent acquisition: AI-powered candidate sourcing, skill recommendations, and social media job listing integration
- Onboarding: Configurable checklists, onboarding surveys, and summaries for new candidates
- Core HR: Centralized employee database, organizational structure views, AI-enabled query resolutions
- Payroll: AI-powered employee payroll self-service, automated employee payslips, and compliance assurance
Pricing: Custom pricing
(Features and pricing plans are based on the People Strong website and are subject to change.)
Ramco Human Capital Management
Ramco offers a payroll suite of tools with a few HCM features designed to help with payslips, timesheets, leaves, and approvals. Key features include leave management, expense tracking, and payslip access. Ramco assists these capabilities with AI-assisted support and mobile-responsive design.
Key features:
- Leave management: Automated flows for requests, approvals, and transaction history
- Payroll: Automated expense tracking and employee payslip access
- Analytics: Expense reporting, reimbursement reporting, and a personal information hub
Pricing: Custom pricing
(Features and pricing plans are based on the Ramco website and are subject to change.)
Rippling
Rippling offers an HCM platform that automates and handles the entire employee lifecycle management. It integrates HR, IT, and finance into a system that supports global compliance. Key features include payroll processing, benefits management, and talent management capabilities designed to help the employee experience.
Key features:
- Talent management: Headcount planning, employee feedback surveys, and flows for recruiting, onboarding, offboarding, and backfilling
- Workforce management: Automated time and attendance tracking
- Performance management: Customizable review cycles, performance trends reports, and calibration groups to ensure everyone is rated on the same scale
- Benefits administration: Quote, compare, and enroll employees in over 4,000 plans, including new hires
- Core HR: Centralized employee database, automated state and local tax accounts for new hires, and a customizable employee handbook
Pricing: Starts at $8/mo per user
(Features and pricing plans are based on the Rippling website and are subject to change.)
Sage People
Sage People, not to be confused with Sage HR, offers a global cloud HCM software designed for multi-national companies. The platform automates core processes like talent acquisition, attendance tracking, and analytics to guide decision-making.
While Sage HR is meant for smaller enterprises with fewer than 250 employees, Sage People is marketed for organizations with 250 to 5000 employees.
Key features:
- Talent acquisition: Customizable branding themes to attract potential candidates, job filters, AI-powered candidate matching, and an onboarding portal
- Talent management: Succession planning, trackable attrition functions, and manager reports and dashboards
- Performance management: Conversation channels between managers and colleagues, 360 employee feedback reviews, and instant peer recognition channels
- Analytics: Customizable manager dashboards and real-time employee insights
- Payroll: Payroll processing for UK and US employees with built-in tax compliance
Pricing: Custom pricing
(Features and pricing plans are based on the Sage People website and are subject to change.)
SAP SuccessFactors HCM
SAP SuccessFactors offers an AI-enabled HCM suite for businesses in all industries worldwide. It integrates AI technologies to enhance HR functions like talent management, payroll, performance tracking, and employee engagement. With a focus on improving the overall employee experience, SAP SuccessFactors also offers analytics for workforce planning and customization to meet organizational needs.
Key features:
- Talent management: AI-powered talent intelligence, recruiting, onboarding, performance, and compensation flows
- Employee experience management: Prebuilt feedback surveys, employee dashboards, and training program guidance
- Sales performance management: Incentive compensation management, agent onboarding flows, compliance assurance, and commission management
- Analytics: AI-powered reporting and business plans
- Core HR: Automated payroll processing, centralized document management, and digital workplaces for employees to collaborate
Pricing: Custom pricing
(Features and pricing plans are based on the SAP SuccessFactors website and are subject to change.)
UKG Pro
UKG Pro offers a suite of HCM solutions designed to manage workforce operations. This platform provides payroll, time and attendance, and talent management features integrated with workforce planning tools. UKG Pro is tailored for large enterprises looking to handle human capital management.
Key features:
- Talent management: Candidate-centric recruiting flows, automated onboarding, feedback channels for collaborative reviews and goal setting, and succession planning
- Workforce planning: Predictive labor demand, labor analytics, and staff capacity planning
- Core HR: Centralized employee data, employee information dashboard, and compliance updates
- Analytics: Employee trend reports, email notifications to alert HR teams and leaders of important events or metrics, and AI-powered analytics to anticipate future trends
Pricing: Custom pricing
(Features and pricing plans are based on the UKG Pro website and are subject to change.)
Workday HCM
Workday HCM offers a suite of HCM tools designed to manage the entire employee lifecycle. The platform offers talent management, payroll, and analytics functionalities integrated into a system that supports global businesses. Key features include workforce planning, financial reporting, and employee analytics capabilities.
Key features:
- Employee experience management: AI-powered Workday Assistant for creating personalized tasks, applications, and announcements
- Workforce planning: Dashboards and reports to monitor costs, headcount planning, and compensation planning
- Employee self-service: AI-powered queries, integration with external collaboration tools, and confidential case management
- Core HR: Worker and skills profiles, organizational structures and modeling, and compensation management
Pricing: Custom pricing
(Features and pricing plans are based on the Workday website and are subject to change.)
Zoho People
Zoho offers an HCM software named Zoho People. It facilitates onboarding, talent management, and performance evaluation. Zoho People emphasizes security and continuous feedback through their platform.
Key features:
- Employee development: Built-in cloud-based learning management system for training, 360-degree feedback reviews, continuous check-ins, automated performance appraisals, and salary hike management
- Employee engagement: Annual engagement surveys, preset questions for different departments, locations, roles, and gender, and eNPS employee satisfaction surveys
- Time and Attendance: Automated time and attendance tracking, shift management for managers, and automated timesheets
- Core HR: Onboarding flows, payroll processing, expense tracking, case tracking, and time off management
Pricing:
- Standard: $3.86/mo per user
- Professional: $6.75/mo per user
(Features and pricing plans are based on the Zoho website and are subject to change.)
Key features of HCM software
HCM software provides HR professionals with tools that significantly enhance their ability to manage and develop the workforce. These include:
Employee engagement opportunities
HR teams can actively gauge and boost team morale through user-friendly platforms and feedback mechanisms. These systems often include social features that foster a collaborative and inclusive culture, directly contributing to increased job satisfaction and lower turnover rates.
Compensation and benefits
HR leaders can use HCM software to help people understand and sign up for the right benefits. This transparency helps team members see the full benefits of their employment, fostering greater loyalty and job satisfaction.
Benefits may include health insurance plans, retirement savings plans, and wellness programs.
Payroll management
HR departments can automate payroll processes to reduce errors, ensure timely payments, and improve compliance with tax and employment laws. This automation saves significant time, reduces the administrative burden, and enhances accuracy, allowing HR teams to focus on more strategic initiatives.
Time and attendance tracking
Accurate tracking helps optimize scheduling, reduce absenteeism rates, and control labor costs. HR leaders utilize this feature to reduce the administrative work involved in checking if every person is punctual. Effective time and attendance management improves operational efficiency and contributes to fair labor practices.
Recruitment, hiring, and onboarding
This suite of features enhances the speed and efficiency of recruiting processes, improves new joiner experiences, and reduces turnover rates during the critical early stages of joining a new team. Streamlined recruitment tools ensure HR teams can quickly identify and onboard top talent, significantly reducing time-to-productivity.
Training and development
These features provide systems for continuous feedback and skills development. HCM software can help individuals achieve their career goals while supporting the organization’s needs by offering personalized learning paths and development plans.
Performance management
This feature facilitates performance tracking and management to align individual performance with organizational goals. An effective feedback system helps identify high performers and areas needing improvement, allowing timely interventions.
Workforce planning
Advanced forecasting tools assist in strategic decision-making regarding team member allocation. These tools analyze current workforce capabilities and predict future requirements, helping HR leaders make informed staffing decisions. Effective workforce planning reduces the risk of talent shortages and overstaffing, optimizing human capital investments.
Reporting and analytics
These features offer deep insights into HR metrics, supporting strategic efforts with accurate data analysis. They provide real-time data that can be used to track training effectiveness, learning and development, and workforce trends. Advanced analytics empower HR leaders to forecast and plan more effectively.
How to pick the best HCM system for your organization
Sets your HR team up for success by picking the best HCM system. Consider the following:
1. Necessary features
Determine which features are essential for your organization and its people. Do you want your people to independently manage their personal information, benefits, and other HR needs? Which existing systems must the HCM be able to integrate with so as not to disrupt the current workflow? What specific HR challenges are you trying to solve with this HCM system?
Asking yourself and your team these tangible questions will give you a sense of direction when searching HCM systems.
2. Your budget
Establish a clear budget that accounts for both initial costs and ongoing expenses to ensure your organization remains financially sustainable. Anticipate potential unexpected costs like additional customization, data migration, or extensive training needs that may arise post-implementation.
Ensure the HCM system can scale economically with your growth and not lead to disproportionately high costs as you add more users or modules.
3. Integration options
Evaluate the system’s ability to integrate with your existing HCM software to ensure data consistency and a smooth tech stack ecosystem. Consider checking integration capabilities with customer relationship management (CRM) systems like Salesforce or Microsoft Dynamics CRM or project management tools like Asana or Trello.
Ensure compatibility with tools like Slack or Microsoft Teams to facilitate seamless communication within the organization.
4. Ease of use and implementation
Choose a user-friendly system that any team member can implement without significant downtime or disruption to daily activities. Look for platforms that provide comprehensive user guides, tutorials, and responsive customer support to assist with implementation.
5. Security and privacy
Prioritize systems that offer robust security measures to protect sensitive data and comply with privacy laws. Ensure the system employs encryption protocols for data transmission and storage, adheres to industry-standard security certifications, and complies with relevant data protection regulations.
More about HCM software
Let’s look at commonly asked questions about HCM software.
What does HCM stand for?
HCM stands for human capital management. This approach to HR focuses on optimizing the economic value of team members as assets rather than merely managing them as costs.
What’s the difference between HCM and HR?
While traditional HR focuses on basic personnel management and compliance, HCM encompasses a broader scope, including strategic workforce resource management to enhance business performance.
Recommended For Further Reading
What’s the difference between an HRIS, HCM, and HRMS?
An HRIS primarily handles core administrative HR functions like recruitment, training, and compensation and benefits. These systems best suit organizations focusing on essential HR processes that need a centralized home to keep track of employee data.
HRMS (human resource management system) includes all HRIS functions plus broader features like payroll and talent management. These systems are best suited for organizations that use employee data for strategic decision-making.
HCM software integrates HRMS capabilities with more advanced strategic management tools like time tracking, labor management, and compliance. These tools help HR leaders optimize their team’s contribution to business goals through advanced performance analysis.
HCM systems best suit organizations aiming to link HR operations directly with strategic business outcomes, focusing on long-term growth and organizational success.
Choose the best HCM software for your global business
The right HCM software empowers your HR team to effectively manage and enhance human capital, providing tools to analyze team trends, pinpoint development opportunities, and offer robust platforms for implementing these improvements.
For those seeking a user-friendly, comprehensive HCM solution, consider Bob. Bob’s HCM platform excels with features like:
- Core HR: Streamline essential HR processes like employee engagement and data management with automated workflows and an easy-to-use interface
- Time and attendance: Access the accuracy of time tracking with automated systems that simplify attendance management and reduce payroll errors
- Payroll: Integrate payroll processing seamlessly with external platforms and time and attendance data to ensure accurate and timely paychecks
- Performance management: Empower continuous feedback and performance tracking to align team member goals with business objectives for enhanced productivity
- Workforce planning: Support recruitment, onboarding, and retention strategies, optimizing the talent lifecycle for strategic growth
- People Analytics: Deliver data-driven insights into workforce dynamics, helping HR leaders make informed decisions based on real-time data
HR leaders use Bob to automate tedious admin work and focus the bulk of their energy on strategic efforts to improve the team.
Disclaimer: The opinions expressed here are solely those of the author and do not necessarily reflect the views of the company. Prospective users are encouraged to conduct their own research to make the best decision for their organization.
