Understanding the Basics: What Is Human Capital Management Software?

Understanding the Basics: What Is Human Capital Management Software?

This blog is part of a series explaining the technologies that help companies manage their people and money.

Profound shifts are happening in the world of work. How, when, and where people work is constantly in flux. 

Today’s workforce encompasses five generations, a range with different workplace needs and expectations. The workforce is also more nimble than ever before with salaried, hourly, contingent, and contract workers. In the digital economy, skills are the new currency, and the value of scarce skills is on the rise. 

At the same time, people have broader expectations of work. They want more than just a paycheck. This new world of work, this new workforce, and this new social contract between work and worker requires new ways of managing human capital.

In this blog post, we’ll discuss human capital management and its value to organizations. We’ll also answer common questions about HCM and explore how technology improves HCM and business performance, and helps drive organizational agility.

What is human capital management (HCM)? 

At its most basic level, human capital management (HCM) is the practice of managing, recruiting and developing a workforce, and is overseen by an organization’s human resources (HR) department. Yet there’s much more to HCM

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