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.