What is HCM?

Human Capital Management (HCM) transforms the traditional administrative functions of human resources (HR) departments recruiting, training, and payroll, compensation, and performance management into opportunities to drive engagement, productivity, and business value. HCM considers the workforce as more than just a cost of doing business; it is a core business asset whose value can be maximized through strategic investment and management just like any other asset.

 The applications that help to enable human capital management include:

Core Administrative Support

  1. Personnel administration
  2. Benefits administration
  3. Payroll
  4. Portal/employee self-service
  5. Service center

Strategic HCM Support

  1. Workforce planning
  2. Competency management
  3. Performance management
  4. Compensation planning and strategy
  5. Time and expense management
  6. Learning (education and training)
  7. Recruitment (hiring and recruitment)
  8. Onboarding
  9. Contingent workforce management
  10. Organization visualization

Human Capital Management (HCM) changed the normal administration functions of human resources (HR) departments from recruiting, training, and finances, compensation, and performance management into opportunities to increase engagement, productivity, and business value. HCM considers the workforce quite just a price of doing business; it's a core business asset whose values are often maximized through strategic investment and management a bit like the other asset.

There are several applications that help in HCM management:

Core administrative support

  1. Personnel administration
  2. Benefits administration
  3. Payroll
  4. Portal/employee self-service
  5. Service center

Strategic HCM support

  1. Workforce planning
  2. Competency management
  3. Performance management
  4. Compensation planning and strategy
  5. Time and expense management
  6. Learning (education and training)
  7. Recruitment (hiring and recruitment)
  8. Onboarding
  9. Contingent workforce management
  10. Organization visualization