Best Human Capital Management Software in 2023
GoCo is helping thousands of small businesses level-up their HR workflow, with best-in-class HCM software for managing HR, payroll, and benefits. Read on to learn more about the benefits of HCM software and compare the top providers for small businesses.
Why Choose Goco's HCM Software for Your Human Capital Management Needs?
Effective Human Capital Management software, such as GoCo, plays a major part in business success, for any company. Human capital management may be difficult, but you can simplify it through efficient HCM solutions. To that end, we have listed some of the best human capital management software you can use to power your HCM efforts. We've summarized the features and advantages of each software. You can compare the specifics of each and figure out which one is ideal for your company. It’s always best to choose a software that streamlines your HR and HCM processes. This is why you should go for a platform that offers an easy-to-use interface, multiple HR functions, and payroll flexibility, in one package. And when it comes to these qualities, we have developed Goco with the intention of making it the consumer’s first choice of HCM software.
Check out our extensive list below:
20 Best HCM Software Tools for Human Capital Management
- ADP Workforce
Website: Visit GoCo
G2 Rating: 4.7 (202)
GoCo is an HCM platform designed to simplify HR management, benefits, and payroll systems.
GoCo’s mission is to help your small businesses spend less time on manual HR tasks, so you can focus on growing happier, more productive teams.
Unlike other HCM software platforms, GoCo is built to be flexible enough to support your existing processes, policies, and providers, so you don’t have to change the way you work just to adopt a modern HCM system.
With GoCo, you can automate your HR processes and streamline onboarding, PTO, payroll, benefits administration, and more. GoCo is a secure, compliant hub for sending, digitally signing, and organizing your sensitive HR documents and data. And it works flexibly with the apps, payroll, and benefits broker you're working with today, or you can use GoCo’s preferred partners. Any HR checklist, from onboarding to reimbursement processes can be automated for maximum time savings. Either way, GoCo is built to support your HR team and help you automate your workflow without disrupting your processes and policies.
Website: Visit Zenefits
Making HR management efficient through complex AI-based HR software, Zenefits works to provide solutions for workforce planning and management. The software provides several functions that simplify HR processes such as onboarding and hiring. It also automates schedules, provides employee self-service, and syncs employee records for effective workforce management.
It also has enhanced time-off tracking for absence management, and keeps you up to date on performance reviews and other factors, giving you actionable business intelligence.
Most importantly, it has mobile apps for both Android and Apple mobile devices so you can have constant access, anywhere. Zenefits will provide human resource management across several sectors of HCM, support several employee benefits, and make employee scheduling easier.
Website: Visit Workday
Considered a one-in-all HCM software, Workday is known for its wide capabilities. It includes things like talent management, compensation management, compliance checks, and even talent acquisition.
The company has a global HR management system that complies with global HR regulations and best practices. With a well-designed talent management software plugin and excessive reporting and analytics, you can gain insight into the employee lifecycle. You can also design unique employee incentive programs, compensation plans, and do succession planning.
Often known as the ultimate software for human capital management, Workday provides global outreach, a user-friendly interface, reports, and analytics based on employee data, and integration with over 40 other platforms.
Website: Visit BizMerlin
If you match the power of AI with HRMS and HRIS, you will get BizMerlinHR. Targeted towards IT professionals and HR executives, the software has a very detailed workforce planning system. With an applicant tracking system, you get smart recommendations for new hires. It lets you develop a skill matrix for employee assessment and performance management. Other features include retention management, goal management for increasing employee engagement, and onboarding systems. BizMerlinHR is a very versatile HCM software that lets you create your own performance review templates, workflows, and lets you integrate with major platforms like Salesforce, DocuSign, etc.
Website: Visit BambooHR
BambooHR markets itself as a people-based platform and not a process-based one. A relatively new addition to the HCM/HRIS industry, most of its features are people-oriented. You get a secured database to store people’s data and analytics, and access to employee records to create HR reports and custom workflows. It reduces the cost of hiring, training, and recruitment with its ATS. It also has built-in measures to help with onboarding, compensation management, and culture assistance. It integrates with other software and even social media to get the most accurate data. With excellent customer support, self-service, online resources, different packages, and constant updates, BambooHR is a competitive option for modern SMEs.
Website: Visit Kronos
The Kronos Workforce Ready HCM suite lets you manage your entire workforce from one platform. It’s a software solution that gives you every facility, regardless of whether your company needs it. It has talent acquisition assistance, performance management, compensation management, and attestation assistance. You also get an ACA (Affordable Care Act) manager to make sure you’re compliant. Additionally, learning management, people analytics, and time-keeping tools help plan out people-processes for better human capital management. It doesn’t matter what kind of company you have, the Kronos Workforce Ready HCM software allows customization to adjust the processes. The cloud-based software also has a mobile app with a user-friendly interface that works for companies of all sizes.
Website: Visit Vibe
Vibe HCM focuses more on employee engagement, and provides core HR capabilities wrapped in cloud-based software. You can use the software to recruit, with the help of effective ATS, employee referrals, etc. It also has an automated onboarding system which helps create the appropriate profiles, emails, and credentials. You also get a content management system, a social network, and the ability to create talent profiles for better communication. The software also lets you manage self-service process transactions, payroll processing, and labor costs. You can also provide real-time feedback and measure employee engagement, satisfaction, etc. Vibe HCM provides excellent customer support, fast implementation, and a secure network.
Website: Visit Ascentis
Ascentis is another all-in-one HCM solution that contains a comprehensive suite of features. The software simplifies HRIS and benefits administration, and provides access to employee data in one place. It also has a fully-functioning payroll software and tax filing system that automates payroll processing. Talent management and recruiting software help to ensure you hire the best employees and effectively manage their performance reviews, compensation, etc. There’s also a time and attendance software designed to help you keep track of employee hours, schedules, and ensure compliance. Ascentis is for companies looking for a simplified interface with a lot of customizability, easy data access, and constant customer support.
Website: Visit Oracle
Oracle’s PeopleSoft HCM is designed to provide full human resources functionality in one package. It helps accelerate business performance, lower the cost of ownership, and increase productivity. With several HR features, it’s known for its workforce management, workforce service delivery, talent management, and labor rules monitoring. Additionally, you can integrate the core HR systems with other ERP (Enterprise Resource Planning) systems. The interface is a little outdated, but the software still provides well-rounded HR functionality. Oracle’s PeopleSoft HCN software is for companies running on relatively older systems, as the old-style interface makes it easier for such a company to integrate its programs, while also making it easier for employees to adapt to it.
Website: Visit SuccessFactors
SuccessFactors is an HCM software that lets you manage all employee-related processes simultaneously during the employee lifecycle. It has several modules such as core HR, analytics solutions, talent solutions, etc. The core HR software acts as the employee central, providing resources for employee control and payroll processing. There’s also a performance management option that lets you manage employee data properly, and make appraisal decisions based on it. The software has a built-in writing feature to help users answer questions in the performance reviews. The ‘Perform and Reward’ toolset helps small companies develop organizational charts, goals and metrics, employee profiles, and much more. SuccessFactors is a great alternative if you are already familiar with HCM software systems.
Website: Visit UltiPro
UltiPro by Ultimate Software is made to improve the overall employee experience. It puts payroll, HR, and talent management features into one software. The primary objective of using UltiPro is to increase productivity by providing employees the necessary resources and information. The software also has active performance and compensation management. It’s one of the few systems that provide real-time employee surveys and sentiment analysis to gather insightful information about the workplace. There’s also a predictive analytics tool that helps analyze potential flight risks and high-performing employees, while keeping employee turnover in check. UltiPro provides a range of modules covering all HCM basics, and has multiple analytics and information-sharing tools for optimal human capital management.
12. ADP Workforce
Website: Visit ADP Workforce
A combination of payroll, HR, talent management, workforce management, and benefits management can be found in ADP’s Workforce Now. The payroll processing automates your payroll, helps avoid compliance and tax errors, and centralizes data. The workforce, talent, and HR management help track employees, update records, and assists in taking care of the employees. The benefits management helps create flexible benefits plans, and administer them for all employees. The software also provides insights that are taken from the data to help assist in key decision-making processes. ADP’s Workforce Now is a flexible HR and payroll management software that provides the necessary training needed to operate it, along with an interactive interface and constant customer support.
Website: Visit Ceridian
Ceridian Dayforce is another global HCM software focused on making the employee experience better. The software effectively combines data from several employee lifecycles. This helps develop a better decision-making system on all levels. The cloud-based platform provides a multitude of modules including payroll, HR, workforce, talent, and benefits management. The interface is designed to provide all the information, tools, and action buttons in one place, for simplicity. The software has built-in measures to receive regular real-time updates, and calculations to account for any regulatory changes. Dayforce is for companies who are looking for a one-in-all package that works globally and is responsive to real-time changes in law and regulations.
Website: Visit Viventium
Viventium is a payroll and HR-intensive HCM software that specializes in employee satisfaction, government regulations, and compliance problems. The company has dedicated itself to providing flexible software along with expert guidance. You get talent acquisition software, time and attendance record-keeping, and online payroll services to streamline employee-related processes and information. The ACA compliance software helps keep track of regulations, while the business intelligence software uses critical data to create insightful reports. Additionally, the human resources service helps control and manage all-things HR from one platform. Viventium is for companies interested in creating custom HR workflows, software integration, multiple payroll processing, and ACA compliance.
Website: Visit SentricHR
A web-based payroll and HR management software designed to fully automate people-specific company processes, SentricHR is for medium to large-sized companies. It has a central HRIS, paperless onboarding, and full payroll management, among other things. The HRIS helps store, manage, and utilize key data while integrating it with other applications. You can create profiles of your employees which helps keep track of them. With features like e-signatures, the software is completely paperless. There’s also a benefits management module and a talent management option that lets you provide feedback to employees. SentricHR is known for its payroll management system due to the real-time information updates, and the self-service option, which managers have access to all data at all times.
Website: Visit Zoho
Zoho People is a relatively flexible HCM software designed for SMEs. It’s known for its employee management operations, which include everything, from records and leaves, to time and attendance tracking. Zoho can be considered an add-on software, especially if you’re already using some kind of HCM system. Because of this, the software can easily be implemented into your company, without needing much customization. The software is extremely open-ended and scalable, which means it can be integrated with other applications easily. It has open APIs and webhooks, which makes it easier to do so. Zoho People works great for tracking employee times, performance, and other workforce-specific information. However, the terminology used for different features may be hard to understand at first.
Website: Visit SumTotal
Also designed for SMEs, the SumTotal Talent Expansion works as the ideal HCM software for SMEs in almost every industry. If you get the full talent management suite, you get learning management, personnel tracking, payroll management, applicant tracking, and employee evaluation systems, among other things. The software is integration-friendly with third-party applications, and has an extremely user-friendly interface designed to provide a streamlined user experience. The interface can also be customized according to your company’s requirements and preferences. However, there are some limitations to how you can use the software. For example, if you create an activity and it gets subscribers, you can’t delete it anymore. SumTotal elixHR works best for companies that prefer paying a one-time fee.
Website: Visit CEIPAL
CEIPAL Workforce is designed to be very concise, which is why it provides all the information you need at the click of a button. The straightforward and direct interface is created to not only save time but also make the HCM process more efficient. The employee self-service option lets employees update and change their information themselves, which saves even more time. The cloud-based software also has a full-featured mobile app that lets you manage employee information, profiles, expenses, leaves, and timesheets, for all employees. The software has a steep learning curve, so it might take time getting used to. However, it generates automated reports from the data available, which can help understand the software better. CEIPAL Workforce works best for companies with a bigger workforce.
Website: Visit Replicon
Replicon’s TimeAttend is a cloud-based HCM solution that acts more like an assistive software. Its main attributes are that it collects time and attendance data that inadvertently helps in more efficient payroll processing, and ensures labor compliance. It’s designed to take into account all kinds of employees, including full-time, hourly, and contract workers. The administrator’s portal lets you check the time and attendance data for all employees simultaneously, which means you can check which employees missed a punch, or who has put in requests for approval, in real-time. TimeAttend lets you track all employees at the same time, even on your mobile device, and works for companies of all sizes. However, some features like shift scheduling might be limited to larger companies.
Website: Visit NetSuite
NetSuite is a mix of an HCM and ERP software, which makes it an ideal option for companies who want all their processes handled through one system. The integrated and flexible software provides features like payroll processing, compensation management, expense management, time tracking, purchase requests, and an employee-center. The employee center provides an employee self-service option that provides full mobility to employees. The software is extremely user-friendly and can be mastered in only a matter of days. However, it can be hard to understand the APIs that are available for integration. NetSuite works best for companies that want centralized software, and have decent resources.
Choosing the Best HCM Software for Your Human Capital Management Needs
Any company’s primary focus should be making sure its human capital management needs are taken care of. This is because people-related processes are what drives your company.
While each company has different HCM needs, the general idea is the same. If you have employees, you need HR features, payroll processing, and benefits administration. Everything else comes under the umbrella of these three categories.
The list above is a summary of the best HCM software in the industry, which offer the most for their value. However, there are lots of other systems too, which might be a better fit for your company.
If you have limited resources or already have a system in place for one specific process, you can opt for software that allows third-party integration.
The most important objective before choosing HCM software, is to note all the things you need. Then list all the value-added features you can use that will make your life more convenient, and your processes more efficient.
This can include things like e-signatures, applicant tracking systems, real-time compliance testing, organizational reports and charts, and employee engagement surveys, among other things.
Things to Keep in Mind Before Choosing an HCM Software
If you’re still confused about choosing an HCM software that’s right for your company, keep these things in mind:
- Your company’s size, whether it’s small, medium, or large/enterprise.
- The number of people your company employs.
- All the processes you need to automate for more efficiency.
- The approximate budget you can allocate towards an HCM software.
- The amount of training your current employees will need to adjust to any new software.
- The services you will need, such as payroll processing, tax support, benefits management, HR functions, etc.
- Whether you need third-party integration or not. If yes, then to what extent.
- Extra services you can use to make your processes more efficient, faster, and more convenient.
- Whether you would prefer a modern interface or an old-school one.
- The total number of employee-related processes you want to automate and handle online.
The answers to these statements will give you an idea of what your company needs, helping you decide the best HCM software for your company. To fix the dilemma of choosing one software over another because of different features, GoCo has developed an all-in-one HR platform. The idea is to provide all people-related services, like HR features, payroll flexibility, onboarding, workflow management, benefits administration, tax support, and more, in one budget price. GoCo provides onboarding features like electronic forms, employee handbooks, and e-verifications. Benefits administration features like provider management, retirement plan management, and life insurance administration among others. Finally, HR features include employee databases, a self-service portal, and compensation management among others. GoCo is essentially designed to provide all people-related services for all forms of businesses and companies.
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