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Human Capital Management (HCM)
Human capital management (HCM) is best defined as people resource management. It is a method of converting several different standard HR practices into one streamlined process that focuses on meeting the needs of people in the organization. By investing in employees throughout their life-cycle with the company (from recruitment to retirement), companies find that their employees have a more consistent experience and are more productive. Through the use of technology like HCM software, HR departments can apply this method to processes such as recruitment and training.
What Small and Midsize Businesses Need to Know About Human Capital Management (HCM)
Human capital management (HCM) is a method that is most frequently used by SMBs to add value to a company by investing in employees directly. By implementing HR practices such as continual training and feedback and growth opportunities, HCM strengthens the workforce on an individual level. This practice is most useful for SMBs that aim to improve recruitment, morale, training, and employee retention rates.
Related terms
- PDM (Product Data Management)
- Project Management
- Gain Sharing
- Small and Midsize Business (SMB)
- Business Process Automation (BPA)
- Human Capital Management (HCM)
- Best Practice
- Business Process Management (BPM)
- Business Impact Analysis (BIA)
- Track And Trace
- Digital Business Transformation
- Bimodal
- Span of Control
- Solution
- Business Process Re-engineering (BPR)
- Enterprise Solutions
- Growth Strategy
- Project Management Office (PMO)
- Business Process Outsourcing (BPO)
- Line Of Business
