IT Glossary

Human Capital Management (HCM)

HCM - Human Capital ManagementHuman 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

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