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Let's Talk About Human Capital Management (HCM)

Jun 11, 2019 1:45:00 PM

In recent years the field, and responsibilities, of Human Resources (HR) has been moving away from the “resources” aspect and more towards the “human”. This style of work is known as Human Capital Management (HCM) and is defined as, “a ‘set of practices related to people resource management’, specifically in the categories of workforce acquisition, management and optimization.”

But how does HCM differ from the standard HR department? Historically, an HR department has been in a more passive role, however an HCM system puts the HR team in a position to develop and enact policies but how the company as a whole deals with its people.

John Schwarz, CEO and founder of workforce analytics company Visier, says, "HR shouldn't be relegated to a role where they're only called in when there's a problem."

In our next blog we'll talk about some of the new strategies and responsibilities a good HCM team can add to your business.

 

Information from https://www.businessnewsdaily.com/6979-changing-role-human-resource.html

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