Human Capital Management (HCM)
#Technology #definition #Gartner
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 centre
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
