Cloud human capital management (HCM) suites deliver functionality that helps organizations attract, develop, engage, retain and manage their workforces. To varying degrees, these solutions support a variety of HCM capabilities, including: • HR administrative functions • HR service delivery • Talent management • Workforce management This market focuses solely on vendors that actively sell and develop cloud HCM suites on a stand-alone basis to midmarket and large enterprises and covers only vendors that deliver their solutions via either a shared community cloud or a public cloud.
Human Capital Management (HCM) Suites encompass functionality to help organizations attract, develop, engage, retain and manage their workers. HCM encompasses the following HR functions: Administrative HR includes organizational and employee data, transactional employee and manager self-service, benefits, and payroll administration. Talent management applications are composed of recruiting, onboarding, performance and engagement management, compensation planning, career and succession planning, learning and development, and workforce planning. Workforce management includes absence management, time and attendance management, task management, budgeting and forecasting, and scheduling, and is usually deployed to manage hourly paid workers. HR service delivery includes direct access to policy and procedure guidance for employees and managers. It may also include case management, knowledge base and digital document management.