Better Workforce Performance Through Technology
The growing importance of HCM software has fueled HCM Unlocked’s record-breaking growth.
Happy workers can be a competitive edge. One U.K. study found that companies with happy employees outperform the competition by up to 20 percent, underscoring how critical human capital management (HCM) is to a business’s success. “HCM is arguably the most important technology that any business is going to install in their organization,” says John Wallace, CEO of HCM Unlocked, which provides HCM software implementation and consulting services.
HCM Unlocked works closely with HCM software providers and their mutual clients, to ensure that the custom software being designed and built will do what the clients expect and need it to do.
Although the industry originated with payroll and tax management activities, HCM technology combines those core functions with several other disparate systems “and brings it all under one roof,” Wallace explains. “From recruitment to onboarding to payroll, taxes, performance management, compensation management, 401(k) oversight,” these responsibilities all fall under the umbrella of HCM, he says.
THE RIGHT TEAM
On top of a growing market opportunity, Wallace credits the caliber of team members for HCM Unlocked’s tremendous growth in little more than four years. Calling it a domino effect, Wallace says they started with top talent and empowered them to do great work. Word spread about the positive company culture and, before you know it, you’ve got this tremendous team.
“One of the things that is unique to HCM Unlocked is the proprietary data-validation software we built,” Wallace says. It provides essential data conversion from one software to another, “because you have different fields and codes that aren’t exact matches from one system to another. Our validation software streamlines that entire process and ensures the accuracy of the client’s data transfer. That’s the backbone of any implementation.”
ONGOING SUPPORT
Implementation is on one side of the house at HCM Unlocked. The other is managed services. Once the HCM technology is up and running, the next question is, “Who’s going to run it on a day-to-day basis?” Wallace says. “And that’s where our company comes in. We do things like manage payroll, HR administration, benefits administration, recruiting services, international workforce management, and data analytics.”
After building the software, HCM Unlocked helps clients optimize their use of it and continue to deploy and improve it. With most companies feeling pressured to run leaner, often with a virtual workforce, “this software is more important than it’s ever been,” Wallace says.