What is human capital management?
Human capital management (HCM) is an essential set of practices that human resources (HR) departments utilize to transform traditional administrative functions like recruiting, training, payroll, compensation and performance management into opportunities that drive employee engagement and productivity.
HCM is essential to most organizations as it focuses on their biggest investment, their people. Focusing on HCM can boost employee creativity and productivity, and ultimately, and organization's profitability. Failure to do so can cause companies to miss opportunities, lose revenue and lead to higher labor costs. One way to support HR departments' focus on HCM is with HCM technology.
How can HCM software help?
HCM software automates HR processes to help employers manage the employee journey while also improving productivity for employees. HCM platforms, like isolved People CloudTM, support a wide range of HR functions and offer a centralized place to manage recruitment, payroll, benefits administration, time keeping and more. Companies that invest in an HCM platform are likely to see increased efficiency and performance improvements.
With isolved People Cloud, HR departments have a powerful HCM solution at their fingertips to help their team with:
Along with streamlining and simplifying essential tasks, HR departments leveraging isolved people cloud will also be able to unlock the power of data with isolved Predictive People Analytics. This real-time analytics tool is powered by artificial intelligence (AI), empowering teams to: