The HR Dictionary

Human Capital Management (HCM)

The typical administrative duties of human resources (HR) departments—recruitment, training, payroll, compensation, and performance management—are transformed into chances to boost engagement, productivity, and company value through human capital management (HCM). According to HCM, the workforce is a core business asset whose value can be increased via strategic investment and management, just like any other asset. It is seen as more than just a cost of doing business.

Most organizations are currently using HR software which provides a comprehensive set of features that are designed to cater multiple aspects of human capital management mentioned above and more. 

HR software allows organizations to devote more time and resources to actually developing their human capital instead of engaging in manually handling of day-to-day administrative HR tasks. In addition, some HR software also provides useful information for organizations to make strategic decisions through advanced reporting and analytics capabilities. 

Benefits of HR Software