What is Human Capital Management (HCM)?

• HCM encompasses all the strategies, processes, and tools used to manage an organization’s most important asset: its people.
• It covers a wide range of HR functions, including:
• Recruiting and Talent Acquisition: Finding and hiring the best candidates
• Onboarding: Integrating new employees into the company
• Compensation and Benefits: Managing payroll, retirement plans, health insurance, etc.
• Performance Management: Setting goals, providing feedback, and conducting appraisals
• Learning and Development: Training, upskilling, and career development opportunities
• Workforce Planning: Analyzing workforce needs and trends to make strategic future decisions

Why Does HCM Matter?

• Employee Engagement and Productivity: Effective HCM leads to a happy, motivated, and productive workforce.
• Data-Driven Decision Making: HCM tools provide insights into workforce trends, allowing for better strategic choices.
• Compliance: HCM systems help organizations stay compliant with labor laws and regulations.
• Business Agility: A strong HCM system makes organizations more adaptable to change.

Workday HCM

Workday HCM is a cloud-based software suite designed to streamline and optimize all aspects of human capital management. Key features include:

• Unified system: A single platform for all HR data and processes.
• Self-service tools: Empowering employees and managers to handle many HR tasks.
• Real-time analytics and reporting: Workforce insights at your fingertips.
• Configurability: The ability to adapt the system to your specific needs.
• Mobile accessibility: Managing HR tasks from anywhere.