HCM (Human Capital Management)

What is HCM (Human Capital Management)?

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.

What are the benefits of HCM (Human Capital Management)?

The benefits of HCM (Human Capital Management) are:

  • Enables the HR leaders to hire the right candidate for the right role.
  • Enables free flow of information between managers and their teams.
  • Provides a structure for training and development activities essential for upgrading employees’ existing knowledge.

What are the core aspects of HCM (Human Capital Management)? 

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.

Related Blog

Mastering HR Capacity Planning and the Pivotal Role it Plays in Success

By mastering capacity planning techniques, project managers can optimize resource allocation, accurately estimate timeframes, and adapt to unforeseen challenges.