Human capital management is never straightforward. HR management professionals often wear many hats. They must recruit, hire, develop, pay, manage, and retain employees. And they usually operate with limited resources.
To deal with these challenges, HCM or Human Capital Management software offers HR professionals the right tools to help with workforce management.
However, with the explosive market growth, the number of players in the HCM solutions market keeps increasing. The real question then becomes, which human capital management solutions should you consider?Â
This blog will look into what you can expect from competent HCM software and the top 10 HR systems to help you with all your human capital management needs.
10 Human Capital Management Software for Businesses in 2024
Summarize this article for me pleaseWhat is Human Capital Management Software?
Human Capital Management (HCM) software is a comprehensive solution consisting of a suite of HR tools for managing your workforce, HR operations, employee payments, and more.
HCM software enables you to streamline payroll, benefits administration, recruitment, and performance management while ensuring compliance with regulations and industry standards.
Summarize this article for me pleaseWhat Should You Look for in Human Capital Management Software
Here’s a list of essential features you must look for before choosing an HCM system:
- Core HR functions: Look for an HCM software that handles all HR functions across the employee lifecycle, from the hiring process to managing employee data, talent management, employee engagement, benefits administration, workforce planning, payroll management, expense management, etc.
- Performance management: Choose an HCM software that assists in setting goals, conducting employee appraisals, succession planning, position management, and tracking career development
- Reporting and analytics: Look for HCM solutions that offer real-time data analysis via intuitive dashboards, key performance indicators (KPIs), and reporting. Many workforce management tools also offer machine learning and predictive analytics related to turnover and employee retention
- Compliance and learning: Choose software that ensures global workforce compliance with built-in compliance tracking and region-based setting, ensuring audit readiness
- Integrations: Your HCM software should integrate seamlessly with other tools your business uses, such as accounting platforms, payment providers, or background check services
- Security and support: Look for software prioritizing data security with features like data encryption and role-based access. Also, consider comprehensive technical support, training, implementation, and regular upgrades to ensure smooth operations
Summarize this article for me pleaseThe 10 Best Human Capital Management Software to Use
1. ClickUp
ClickUp is an all-in-one human capital management and recruitment tool that helps your HR team manage employees from recruitment, onboarding, performance management, talent management, and even retirement.
With a vast array of customizable features and over 1,000 integrations, ClickUp is a hub for consolidating work across various departments and creating a collaborative workspace. This makes it ideal for HR teams overseeing employee data, workforce planning, compensation management, employee engagement, and goal tracking.
ClickUp Goals can help HR teams and team managers transparently set and track goals across the organization. Set targets in numerical, monetary, true/false, or task form; combine targets from multiple teams into goals. Set deadlines, create scorecards, and share goals with anybody in the organization with viewing or editing rights.
Visualizing tasks and goals also becomes a breeze with the variety of ClickUp Views available. You can customize the 15+ views with custom fields and statuses to meet all your requirements. For instance, the List View helps track tasks by fields like due date, priority, owner, etc. The Calendar View helps keep track of activities by date and duration.
With collaborative ClickUp Docs, you have one place to centralize all organizational policies, resources, and knowledge bases. Edit and update them as needed and share them with custom access policies across teams. The Universal Search feature ensures no document or task is more than a click or two away!
Customizable ClickUp Dashboards let you generate real-time reports of employee performance, engagement, performance review completion rates, and all your other year-around people management priorities. These visually engaging dashboards can also be used for stakeholder presentations and business strategy meetings. They offer over 50 widget variations tailored to various HR scenarios, such as positions filled, time to hire, and team performance
And that’s not all. ClickUp Brain, the nifty AI assistant in ClickUp, can also help you get through your to-do list faster. Try it out for everything from writing an employee rewards program announcement to summarising your next meeting’s notes into action items.
Hundreds of pre-built templates in ClickUp’s template library ensure you don’t waste time getting set up. These highly customizable templates cover a variety of use cases related to recruitment, policy creation, performance management, goal-setting, and more.
For example, the ClickUp HR SOP Template serves as an excellent resource for familiarizing your team with processes using ClickUp Whiteboards. This template uses a vibrant, well-structured, and customizable table within your collaborative Whiteboard, facilitating HR managers in training the team, setting up recruitment tasks, managing hiring and employee onboarding processes, and more
ClickUp best features
- Multiple workflow views: Enjoy ClickUp’s diverse visualization options for HR goals, including Table, List, Form, Calendar, and Workload views. Having multiple ways to look over workflows helps in efficient employee database management, sorting, filtering, and capacity planning
- HR automation: Streamline HR processes with ClickUp’s extensive array of over 100 automation possibilities. Use it to automate task creation, assignment, comment population, status changes, and much more, enabling efficient and focused operations centered around your team’s needs
- Unified HR dashboard: Monitor project milestones, targets, and HR KPIs with customizable and engaging dashboards in ClickUp, providing a unified and accessible overview for your entire team
- Pre-built templates: Create workflows and standardize processes quickly with hundreds of customizable templates
- Collaborative documentation: Create and store easily searchable and shareable documents related to everything from SOPs to recruitment in ClickUp Docs
ClickUp limitations
- The mobile app may not have all the features of the desktop version
- Users may find it hard to adjust to it due to its extensive features
ClickUp pricing
- Free Forever
- Unlimited: $7/month per user
- Business: $12/month per user
- Enterprise: Custom pricing
- ClickUp Brain is available on all paid plans for $5 per Workspace member per month
ClickUp ratings and reviews
- G2: 4.7/5 (9,400+ reviews)
- Capterra: 4.7/5 (4,000+ reviews)
2. Arcoro
Arcoro provides tailored HR solutions for the construction industry, from customized hiring to compliance management. With its proven expertise and comprehensive modules, Arcoro bridges communication gaps, ensures compliance, and empowers construction workforces.
Using Arcoro, you can manage application tracking, onboarding, employee management, absence management, benefits management, time, and performance tracking.
Arcoro best features
- Automate hiring, onboarding, and other workforce management tasks
- Integrate with Acumatica, Procore, Quickbooks, Sage300, Viewpoint, and Foundation to manage HR data and communications between the field and the office
- Get insights and advanced analysis through Arcoro’s Applicant Tracking System
- Nurture employees and enhance retention with performance and learning management systems
- Access support conveniently through user-friendly guides and on-demand training sessions
Arcoro limitations
- Limited to construction-related businesses
- Punches don’t sync up sometimes. Some HR professionals have reported having to enter data manually
- Some users have requested the addition of PDF forms
- Employee tracking GPS needs improvement
Arcoro pricing
- Custom pricing
Arcoro ratings and reviews
- G2: 3.9/5 (80+ reviews)
- Capterra: 4.1/5 (100+ reviews)
3. Paychex Flex
Paychex Flex is an all-in-one HCM, PEO, and HR software that helps small and medium-sized businesses streamline payroll, HR, benefits administration, and other related tasks.
It simplifies workforce administration with a Professional Employer Organization (PEO) system that streamlines HR tasks and saves on monetary and temporal resources.
Paychex Flex best features
- Streamline payroll processing with automated calculations and tax filings
- Simplify data sharing and communication with centralized online management systems,
- Proactively monitor changes in global workforce laws and regulations to help minimize risks and automate compliance
- Save time and paperwork with a dedicated employee self-service portal that allows employees to handle HR tasks independently
- Easily track and record employee hours for payroll and other HR functions using Paychex Flex Time
Paychex Flex limitations
- Outdated UI
- Users have been requesting more self-administration features that do not depend on Paychex Flex directly
Paychex Flex pricing
- Essentials: $39/month + $5 per Employee
- Select: Custom pricing
- Pro: Custom pricing
Paychex Flex ratings and reviews
- G2: 4.2/5 (1,400+ reviews)
- Capterra: 4.2/5 (1,500+ reviews)
4. Ceridian Dayforce HCM
With over 6 million users worldwide, Dayforce specializes in simplifying scalability. It is a holistic HCM application with a single data model, always-on calculation, and embedded intelligence.Â
It has excellent personalization options with real-time analytics and visualization for your everyday HR needs.
Dayforce HCM best features
- Streamline payroll operations in more than 200 countries and territories
- Use AI to make intelligent hiring decisions, optimize workflow management, and manage and retain talent
- Avoid the hassle of updating reports manually; create dynamic HR reports that update in real-time
- Ensure the security of your people’s data through embedded privacy controls and a design that prioritizes security from the ground up
Dayforce HCM limitations
- May create huge, unreadable reports
- The employee self-service feature is outdated
- Instant customer support should be accessible without requiring a login for each case
Dayforce HCM pricing
- Custom pricing
Dayforce HCM ratings and reviews
- G2: 4.2/5 (780+ reviews)
- Capterra: 4.3/5 (940+ reviews)
5. Eddy
Eddy prides itself on simplicity and ease of use. You can use Eddy’s unified platform to hire, onboard, manage, and pay employees. It drastically reduces the time needed to run payrolls with the highly versatile Eddy Payroll.
Eddy stores employee data in a secure environment that you can access anywhere. You can also access automated messaging, customizable pipelines, and auto-posting features.
Eddy best features
- Simplify payroll management for small businesses through powerful automation
- Take care of quarterly and annual tax filings, as well as end-of-year W-2 and 1099-NEC preparation and filing
- Track employee hours and calculate accurate hourly pay using Eddy’s time and attendance feature
- Save time and prevent oversight with automated messaging, customizable pipelines, and auto job posting to major job boards
- Enable employees to view their balances and request time off conveniently via mobile app
Eddy limitations
- Needs more region-specific labor law updates
- Several users encountered errors while attempting to upload documents for new employees
- An employee must accept the invitation to appear in the onboarding tab
Eddy pricing
- Starter: $4/month per person
- Growth: $8/month per person
- Premium: Custom pricing
- Add-ons:
- Payroll: $6/person
- Hiring: $199/month
Eddy ratings and reviews
- G2: 4.7/5 (60+ reviews)
- Capterra: 4.7/5 (200+ reviews)
6. Trakstar
Trakstar is a cloud-based performance appraisal software that incorporates four complementary products: performance management, learning management, applicant tracking, and workforce analytics, into one talent development solution.
Trakstar offers a 360° Review feature that provides comprehensive employee feedback and promotes employee growth in multiple areas. It also helps you acquire competent talent through its Candidate Sourcing feature.
Trakstar best features
- Create online courses and training modules with Trakstar Learn’s user-friendly eLearning course creation platform for hybrid, remote, and in-person teams
- Streamline onboarding and candidate sourcing and share job posts to top job boards with Trakstar HireTrack performance with Trakstar Insights and foster data-driven decision-making for continual improvement
- Automate candidate information import and collaboration with external recruiters
Trakstar limitations
- Several users have voiced discontent with the reporting capabilities of the platform, claiming that they lack depth and fail to address their requirements adequately
- Not able to accommodate narrative review in place of rating-based review
- Lacks automated report generation capabilities
Trakstar pricing
- Custom pricing
Trakstar ratings and reviews
- G2: 4.2/5 (450+ reviews)
- Capterra: 4.4/5 (280+ reviews)
7. Rippling
Rippling is a cloud-based HCM software that streamlines workflows across HR, IT, and finance departments under one roof.
Their HR software is user-friendly, intuitive, and packed with many features, covering everything from payroll to employee feedback surveys.
Rippling best features
- Access customizable HR templates designed for payroll and other essential HR tasks
- Handle the complexities of managing a global workforce with specialized features for localized payroll, tax, and compliance requirements
- Use the Custom Workflow Builder to automate any manual process or sync data across multiple systems at once—no code involved
- Enable employees to clock in and out and employers to review and approve breaks in real-time with smart time-clocks
- Implement role-based permissions and policies tailored to your organization’s needs, ensuring customized access and approvals
Rippling limitations
- Long loading times on transition flows
- The UI needs to be more user-friendly
- Need IT management integration
Rippling pricing
- Custom pricing
Rippling ratings and reviews
- G2: 4.8/5 (2,270+ reviews)
- Capterra: 4.9/5 (3,030+ reviews)
8. Oracle Fusion Cloud Human Capital Management
Oracle Cloud HCM’s offering covers various avenues, from human resources and task management to workforce management, payroll, and HCM analytics.
Oracle ensures compliance with global legal and company standards. With secure, self-service options, employees can manage personal data, PTO, and payslips on demand.
Oracle Fusion Cloud HCM best features
- Ensure compliance with global regulations and industry-specific needs
- Provide employees with secure, mobile-responsive self-service portals for managing personal data and essential tasks
- Manage industry, union, and contract agreements with rule-driven workflows
- Leverage predictive analytics to identify and retain top talent by assessing their risk of leaving
- Use AI algorithms to detect anomalies like ghost employees and unauthorized payroll changes
Oracle Fusion Cloud HCM limitations
- Not able to bulk download CVs or applications
- A sub-optimal navigation system that uses too many clicks
- Software performance may degrade and become sluggish when used by multiple users simultaneously
- The pricing may be costly for small businesses
Oracle Fusion Cloud HCM pricing
- Help Desk: $4 per employee per month
- Talent Management: $10 per employee per month
- Global HR: $15 per employee per month
Oracle Fusion Cloud HCM ratings and reviews
- G2: 3.5/5 (520+ reviews)
- Capterra: 4/5 (60+ reviews)
9. Paycor HCM
Paycor HCM is an all-in-one HR, payroll, talent acquisition, and talent management system. The HCM software can be easily tailored and configured for various industries, such as healthcare, manufacturing, restaurants, and professional services.
Paycor also features tax and compliance options, error-mitigation systems, and other stand-out features.
Paycor HCM best features
- Enjoy unique payment options like On Demand Pay, Paycor Wallet, and more
- Simplify payroll processing with the AutoRun feature that automates payments on specified schedules
- Automate talent-sourcing, recruiting, and onboarding
- Get real-time alerts on missing or invalid tax IDs and addresses directly on your dashboard
- Efficiently manage talent with dedicated systems for talent development, career management, and compensation planning
- Conveniently access pay and benefits information, time-off requests, personal details updates, and more using the Paycor mobile app
Paycor HCM limitations
- Poor customer service
- It needs to have better pre-release bug fixes
- Reporting feels unintuitive
Paycor HCM pricing
- Custom pricing
Paycor HCM ratings and reviews
- G2: 4/5 (700+ reviews)
- Capterra: 4.4/5 (2,760+ reviews)
10. Workday Human Capital Management
Workday is an enterprise-grade CRM software that integrates finance processes with HR, planning, and analytics. Therefore, it offers a comprehensive solution for workforce management.
With Workday AI at its core, it’s an intelligent, flexible suite of HR applications that work better together.
Workday HCM best features
- Integrate natively with Workday Skills Cloud, an AI-driven tool empowering leaders to create agile strategies
- Leverage augmented analytics to get in-depth insights on workforce performance via easy-to-understand dashboards
- Use competitive benchmarking and self-service reporting to identify opportunities faster
- Integrate it quickly with your existing IT ecosystem through thousands of public APIs and a marketplace
Workday HCM limitations
- The reporting functionality comes with a steep learning curve and can get confusing for new users
- Workday roles need to be more customizable
- The global search option isn’t the best
Workday HCM pricing
- Custom pricing
Workday HCM ratings and reviews
- G2: 4/5 (1,300+ reviews)
- Capterra: 4.5/5 (1,330+ reviews)
Summarize this article for me pleaseChoose the Best HCM Software for Your Business
Every HCM software on this list offers something new and unique. They all specialize in a particular niche. Thus, if you require specific niche functionality, choose the software that best fits you.Â
However, if you are still mulling over which human capital management software to choose, go for the one that can do it all—ClickUp. ClickUp human resources software provides you with the best of all worlds. You get a stellar HCM platform to help your HR department build and maintain efficient workflows for all people management processes through the employee lifecycle.
And an overall resource and project management software with a user-friendly interface that can handle every business need.Â
What are you waiting for? Try ClickUp for free now!
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