TEC 2014 HCM Buyer’s Guide for Medium and Large Enterprises

How do you treat humans as capital? The concept of human capital depends on its two parts: what we understand by “human” and what defines something as “capital.” The supporting technology then is a shape-giving agent to what human capital management (HCM) or human resources (HR) departments can become.

This buyer’s guide examines high-level features and functions offered by HCM technology vendors. It underlines the market tension between a tendency to consolidate various aspects of HCM technology into one suite and the best-of-breed approach to tackling HCM requirements. Additionally, it explores new niche-oriented technologies.

The product comparison included in this guide consists of information supplied by vendors of HCM solutions. The chart is intended to inform users about how vendors position themselves in the market as well as reveal some of their partner ecosystems. We acknowledge that there are many other vendors and products in the market, but we are able to include only a limited number in the product comparison chart.

This guide also includes discussions on how contemporary leadership models tackle global challenges, the prevalent perspective on workforce as talent versus “non-talent” and how businesses can shift toward a more fluent view of the workforce, and the new role of learning in realizing business goals.

Lastly, the buyer’s guide presents a range of real-life case studies that highlight client successes and thought leadership about relevant HCM issues and challenges, and the solutions vendors are offering to address them.

But most importantly, this guide invites us to imagine—beyond simple HCM/HR goals and accomplishments—an economy that continuously redefines the intersection of “human” and “capital.” Gabriel García Márquez recognized “that human beings are not born once and for all on the day their mothers give birth to them, but that life obliges them over and over again to give birth to themselves.”* We pay tribute to Márquez in these pages as a reminder that inspiration in our careers and business can come from any human endeavour—and this inspiration is ultimately what challenges the HCM technology market to stay vibrant.



Table of Contents


About this Guide

Preface

HCM for Medium and Large Enterprises

Full-Suite HCM versus Best-of-Breed Software Solutions

HCM Functionality

Niche Technologies


Product Comparison

TEC Resources

HCM in the 21st Century

Leadership Undone

More than “Talent”: Exploring Talent Management and Workforce Management as a Continuum

The Role of Enterprise Learning in a Company’s Growth


Casebook

Cezanne HR Customer Success Story: Casewise Improves Employee Communication with Cezanne OnDemand

Cornerstone OnDemand Customer Success Story: Diverse and Geographically Distributed Workforce

Cornerstone OnDemand White Paper: Increase Your Talent IQ: Stop Guessing and Start Making Smarter Decisions about Your Workforce

FinancialForce Human Capital Management (HCM) Customer Success Story: Workforce Management from Hire to Retire on the Salesforce1 Platform

IBM Customer Success Story: Dow Benelux Maintains a Happy Workplace

IBM White Paper: Human Capital Management in the 21st Century—Advancing Human Resources with Business Analytics

iCIMS Customer Success Story: iCIMS Helped ACCO Brands Streamline Recruiting During the Company’s International Expansion

Meta4 Customer Success Story
: Pepe Jeans: Harmonizing HR at the International Level

Oracle Customer Success Story
: Taleo Powers Growth via Talent Mobility at InterContinental Hotels Group

Thought Leadership sponsored by PeopleNext
: Why Invest in Talent Management? Five High-ROI Business Drivers for Implementing a Talent Management Program

Thought Leadership sponsored by SAP
: SAP’s Talent Journey—Reworking the Notions of Talent

Skillsoft Customer Success Story
: PGA of America—Professional Growth in a Multigenerational Workforce

Thought Leadership by SuccessFactors
: The Future of Attracting, Retaining, and Managing Talent: Keeping Up with Changes in the Workforce


Vendor Directory

About the Author


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Full-suite HCM versus Best-of-breed Software Solutions



In human capital management (HCM), like in most other areas of enterprise software, buyers are often confused by the choice between a full suite and a best-of-breed solution. But, is this confusion a construct resulting from vendors positioning themselves as either conquerors or underdogs? The full suite is generally understood as consisting of core human resources (HR), talent management, and workforce management. Best-of-breed solutions typically offer functionality and service that focus on one of the three areas.

Buyers report that they hesitate between wanting to have all HCM software capabilities under a greater-scope solution—preferably their current enterprise resource planning (ERP) system—and an attractive, flexible, and deep best-of-breed HCM software option. However, the idea that a company can benefit only from one and must sacrifice the other may be erroneous. For example, software as a service (SaaS) appears to be a robust and reliable model for integrating best-of-breed solutions with larger systems.

In addition, competing vendors with modular software products propose offerings that are diverse—in their technology and product formulations, and also in their partnerships with other enterprise software vendors. Although to date vendors have not generally been going into a selection project with competing partners, this may be the case in the future, if the marketplace moves towards a more open market. For instance, on the same bid, one would be able to see a CSOD + ADP package and a CSOD + Workday package competing side by side.

So, a company does not have to be consumed by having to make a definitive choice on full suite versus best-of-breed HCM. Depending on the company’s culture, competing human resources (HR) priorities, and evolution, companies do not have to fear taking advantage of the core HR functionality present in their current ERP system when starting out. In most cases, there will later be the option of adding more systems to its portfolio of HCM software solutions, thanks to vendors presently being more open to the idea than in the past.

One of the major challenges when acquiring HCM enterprise software is to strike the right balance; companies often end up buying either more than they actually need or not enough. Buying more is seen as incurring unnecessary costs and risking low adoption. Yet providing less to buyers at the outset means requiring add-ons and third-party solutions to compensate for the insufficient initial offering—these imply costly and complicated integration by either in-house information technology (IT) personnel and/or vendors.


Download the full copy of the TEC 2014 ER HCM Buyer’s Guide for Medium and Large Enterprises.

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