Drive transformation with human capital management
Digital transformation is a top priority for business leaders in every industry. More than 50% of companies report that their enterprise agenda includes a major digital transformation initiative, and nearly two-thirds of these organizations have accelerated their efforts in response to the events of 2020. Optimizing human capital is critical to digital transformation, yet many organizations lack a clear sense for the digital capabilities that human capital management (HCM) requires. Even fewer understand how best to prioritize investments in new technology to deliver greater speed-to-value.
With years of experience analyzing and benchmarking initiatives and technologies for human capital management, The Hackett Group® helps organizations differentiate their business by using the power of HCM technology to deliver a collaborative, talent-centric and engaging experience. Our services help companies assess current systems and create efficient HR processes that are powered by leading HCM tools.
How HCM tools speed time-to-value
Organizations today can take advantage of a broad selection of technologies designed to simplify human capital management and accelerate speed-to-value. During the pandemic in 2020 and 2021, many performance leaders accelerated adoption of these tools.
Talent acquisition and onboarding
From video interviews and candidate screening/assessment algorithms to chatbots for recruiting and onboarding, HCM tools are helping to automate and streamline many aspects of finding and onboarding talent.
Learning videos and the platforms that deliver learning experiences are improving the availability of high-quality training, often through virtual and augmented reality applications.
Employee engagement and performance
While platforms like Zoom, Slack and Microsoft Teams are improving employee performance and collaboration, tools to monitor employee sentiment, feedback and activity are helping to increase engagement.
Reporting and analytics
HR leaders can benefit from reporting and analytics tools that use predictive modeling and real-time interactive dashboards to monitor performance and identify needs in human capital management.
Chatbots provide self-service opportunities for employees and can automate many aspects of handling employee inquiries or benefit-related questions.
Human capital management with The Hackett Group
As an intellectual property-based strategic consultancy and enterprise benchmarking firm, The Hackett Group helps global companies to measure performance excellence, accelerate business transformation and uncover breakthrough business insights. From human capital management and financial planning and analysis, to business strategy, operations and business partnering, we help implement best practices and drive digital transformation to achieve world-class performance.
Our services in human capital management help organizations realize the power of their employees and to recruit, onboard, and retain top talent. We implement and integrate the world’s leading HCM technologies, allowing companies to move beyond inefficient processes and disjointed point systems that prevent organizations from optimizing HR and human capital management initiatives.
Backed by our unparalleled benchmarking data and best practices repository, as well as experience across the full transformation life cycle, our services include:
- HR Functional Assessment
- Enterprise People Strategy
- HR Operating Model and Service Delivery Model
- HR Operation Excellence
- HR Governance Model
- HR Pre-Implementation Planning and Implementation Support
- Transformation and Project Management Office
- HR Tech Assessment, Strategy and Business Case
- HR Tech Vendor and Software Selection
- HR Tech Harmonization and Solution Design
- HR Tech Implementation Support
- Operational Improvement and Remediation
- Strategic Change Management
Additionally, we help companies leverage the cloud to find and retain the best talent, increase their global agility, and streamline payroll and other HR processes. Offering a four-step process to develop a strategic road map for cloud migration, our services help align the functionality of applications with best practices and configuration guidance to accelerate transformation and improve business outcomes.
Identifying metrics for successful human capital management
As a leader in enterprise benchmarking, The Hackett Group helps companies to establish, track and report on the metrics that align human capital management initiatives with business objectives. This effort enables decision-makers to prioritize investments in HCM tools more effectively.
Studies by The Hackett Group reveal that the average HR organization tends to track and report only nine metrics to stakeholders – most of which do not reflect the overall impact of HR performance on the business. In contrast, performance-leading organizations track and report an average of 27 metrics that are largely strategic in nature.
To improve reporting and analytics, we help companies identify the metrics to consistently measure how well they carry out the activities that matter most, enabling HR operations and organizations to make systemic improvements to performance. Our recommendations include:
- Expanding the focus of scorecards – from highlighting the effectiveness of delivering services to showing the value of the workforce and the contribution of HR in human capital management
- Highlighting strategic metrics that reveal the dimension of HR performance and human capital value
- Emphasizing metrics that track progress or flag problems in key talent-related activities such as recruiting, engagement, development, leadership and performance
- Focusing on metrics that matter to the business and establishing a common set of metrics to report to all key executive stakeholders across the business and HR
Why choose The Hackett Group?
The Hackett Group is a leading global strategy and operations consulting firm with unparalleled expertise in performance benchmarking. Our services are informed by insight gleaned from more than 25,000 benchmark studies with the world’s leading companies, including 97% of the Dow Jones Industrials, 93% of the Fortune 100, 73% of the DAX 40 and 52% of the FTSE 100. Our broad array of offerings includes advisory programs and consulting services in workflow and process automation, cloud application implementation, data and analytics, and managed services.
To help organizations optimize human capital management, we provide:
- Proprietary insight. Our proven intellectual property and insightful benchmarking data help organizations pursue world-class HR performance.
- Deep expertise. With experience developed through guiding numerous cloud HCM implementations, our team has the expertise and knowledge to establish solutions that are tailored to any business.
- Faster time-to-value. With rapid deployment methodologies, we enable companies to get cloud-based applications up and running in a matter of weeks.
What is human capital management?
Human capital management is the set of practices that companies use to recruit, manage, develop and optimize human resources in ways that increase the value and contribution of the organization’s workforce. Rather than simply viewing employees as a cost of doing business, human capital management views the workforce as a core asset to the company and one whose value can be increased through strategic management and investment.
What are human capital management technologies?
HCM technologies include tools and software applications for recruiting talent, coordinating onboarding, managing training, monitoring performance, engaging employees, and providing self-service opportunities for workers to get the answers they need.
What is The Hackett Group?
The Hackett Group is a strategic consultancy and enterprise benchmarking firm that provides services related to digital transformation, cloud migration, workflow automation, and enterprise analytics.