Human Capital Management
Human Capital Management (HCM) is a set of strategies for human resource management. These practices are used by an organization for recruiting, managing, and optimizing employees to increase business efficiency. HCM is focused on organizational needs and ensures complete resource management in the best possible way. There are several HCM solutions available in the market to streamline capital management; HRMS (Human Resource Management System), Payroll management system, Employee self-service portal, Leave and attendance management system, etc.
3 Major aspects of HCM:
- Talent Acquisition: Stage where employee’s lifecycle in a company starts.
- Talent Management: management of employee’s performance, leaves, attendance, tasks, and tracking the same via automated HRMS
- Talent Optimization: Complete optimization of the resources, setting the goals right evaluating the performances.