29 Aug 16
The Art Of Human Capital Management Explained
What Is Human Capital Management?
Human Capital Management (HCM) is an approach used by a number of companies these days, through which they perceive employees as assets or human capital. This is done so that their current value can be measured, and future value enhanced by making appropriate investments.
Employees are given clearly defined performance expectations here. Managers need to ensure that their teams perform according to expectations, in a bid to achieve the required business goals.
Human Capital Management Software
In the back office, HCM exists as separate suite that is integrated with the enterprise resource planning system or as a component of the system itself.
More recently, it is being used as an umbrella term for integrated software programs used for both talent management and employee record processes. The managers get hold all of essential information they need to take decisions from the record component. Talent management offers dedicated modules for performance management, recruitment, learning, and other applications related to developing and retaining employees.
Human Capital Management Software Benefits
HCM software automates and streamlines most daily record-keeping processes, and provides HR personnel with a much-needed framework to manage and administer payroll better, document personnel actions and compliance with government or industry norms, and map out succession strategies.
It goes beyond basic HR functionality, and comes with talent-management features.
Human capital planning and management become a breeze when you use the right software for your company. If you’re looking for one, Volantis Technologies has you covered. They offer a wide range of software solutions to enterprises of different sizes to automate and streamline various processes and improve the productivity of your employees.