What is HCM?
Human Capital Management (HCM) is the strategic and coherent approach to the management of an organisation's most valued assets - the people working there who individually and collectively contribute to the achievement of the objectives of the business. This site is dedicated to computer systems that aid in Human Capital Management (as a subset of an ERP system)
Human Capital Management includes the following:
- Workforce planning
- Recruitment
- Induction and Orientation
- Skills management
- Training and Development
- Personnel Sdministration
- Compensation
- Time management
- Travel management (sometimes assigned to accounting rather than HRM)
- Payroll
- Employee benefits administration
- Personnel cost planning
- Performance appraisal