Human Capital Management (HCM)

Human capital management (HCM) is a set of practices related to people resource management. These practices are focused on the organizational need to provide specific competencies and are implemented in three categories: workforce acquisition, workforce management and workforce optimization. The applications that help to enable human capital management include:

Core administrative support:

• Personnel administration
• Benefits administration
  
• Payroll
• Portal/employee self-service
• Service center

Strategic HCM support:

• Workforce planning
• Competency management
• Performance management
• Compensation planning and strategy
• Time and expense management
• Learning (education and training)
• Recruitment (hiring and recruitment)
• Onboarding
• Contingent workforce management
• Organization visualization

Other HCM:

• Reporting and analytics (workforce analytics)
• Workflow