Human capital management (HCM) is the process of managing a workforce efficiently through right from the recruitment stage all the way till developing employees t achieve organizational goals.
The benefits of HCM (Human Capital Management) are:
HCM (Human Capital Management) has three broad aspects –
1)Talent acquisition – Using talent gap analysis, HR leaders determine the immediate talent requirements and map out business strategies for future requirements.
2) Talent management – HR leaders match the current world of work environment, for example, managing remote workers, communication systems, hiring gig economy workers, etc., with suitable systems in place.
3) Talent optimization – To prepare employees for future requirements, HCM incorporates growth strategies through career-pathing, mapping competencies, succession planning, and providing learning and development opportunities.
By mastering capacity planning techniques, project managers can optimize resource allocation, accurately estimate timeframes, and adapt to unforeseen challenges.