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Human Capital Management

Human Capital Management

Administrative and strategic procedures

HCM addresses most organizations' biggest investment people. Investing in human capital can boost employee creativity, productivity, and an organization's profitability. Failure to practice HCM can result in missed opportunities, lost revenue, and higher labor costs.

A company's usage of a set of procedures known as human capital management (HCM) aims to maximize the value of its employees to the business by managing, developing, and attracting the best candidates. Done right, human capital management results in:

  • Hiring the right talent

  • Managing employees effectively

  • Increasing productivity

  • Skill sets in the company’s workforce

What practices are included in human capital management?

Many administrative and strategic procedures and processes are included in human capital management, including:

  • Onboarding

  • Training

  • Payroll

  • Compliance

  • Recruiting and hiring

  • Time and attendance

  • Retirement services

  • Performance management

  • Workflow management

  • Benefits administration

  • Workforce planning

  • Compensation planning

  • Reporting and analytics

  • Employee service and self-service

Human Capital Management