Human capital management (HCM) is a comprehensive set of solutions and practices used to manage all human resources (HR) processes, including recruiting, managing, developing, reporting and training employees. HCM spans the life cycle of an employee from the time they are recruited to the time they leave the company and is comprised of all aspects of their work experience, including learning and development.
However, when a company uses multiple platforms and systems, employee information becomes siloed and housed in various locations, and it is difficult to access and collect key information in one place. A core function of HR is to manage employee talent and encourage employee development, but outdated, siloed systems make it nearly impossible to align talent development with individual performance or broader business objectives.
As a proof point, in a recent Fosway survey about the current state of talent management, nearly 70% of respondents said they believe their HR systems are not fit for the modern workforce, and only 9% think their technology is ready to meet employee expectations. Moreover, when asked about talent succession and workforce management, over two-thirds of respondents said they find it difficult to measure their effectiveness.
When learning management systems (LMSs) are part of a holistic HCM strategy, businesses can connect the dots between the skills and competencies employees need now, deliver them in the context of what they are trying to accomplish, and measurably improve performance.
A single platform — instead of multiple systems — centralizes employee data and processes and offers a fully integrated approach that incorporates talent acquisition, talent management, learning management and workforce management capabilities.
The Benefits of a Fully Integrated HCM Solution
The benefits of integrating L&D capabilities into your HR system include having…
Essential Information at a Glance
With data collected and organized in a single platform, employers and employees alike have a snapshot of learning achievements, certifications and compliance as well as performance, 360-degree feedback and compensation. Integrating learning and talent strategies with workforce management communicates to employees that learning and development are central to their everyday experience. An integrated HCM system encourages constant learning and skills development and provides the resources and tools required to impact workers.
Actionable Performance Assessments
Providing employees with real-time and relevant performance feedback is crucial. As part of performance assessments, using an integrated LMS and HCM solution, managers can assess current employee skills and knowledge, update learning and development goals, and assign curated content and resources that are linked to business objectives and employee competencies. Managers can also monitor the progress of course completions and review assigned activities.
Guided Employee Development and Learning
Development opportunities are one of the most significant drivers of engagement across your workforce. An integrated LMS solution empowers employees with tools that connect learning and curated content to critical development measures like goals, skills, competencies and role expectations. Using machine learning, personalized learning recommendations help target growth by suggesting courses and activities based on traditional career paths and data that the platform continually mines from peers’ and predecessors’ career progression.
Learning Anywhere, Anytime
Employees are increasingly more mobile, and mobile access to learning, team information, performance feedback and reporting has become a necessity. Using a platform with a single sign-on, employees have access to vital information in one place. Mobile capabilities allow users to learn on any device, online or offline, and ensure they have a seamless connection to courses and content in the flow of work.
Do Employees Benefit?
Integrated HCM improves the employee experience and increases employee satisfaction by eliminating frustration and unnecessary time invested in jumping from system to system and toggling between multiple user interfaces. Unified systems also provide each employee with a clear view of their unique career path.
A holistic HCM system that incorporates learning improves employees’ experience today while preparing them for the demands of the future. With ongoing learning and development, employees can see where they want to go and a path to get there.