Complete guide on how Human Capital Management works: FlexC

Organizations employ human capital management (HCM) as a crucial strategy to efficiently manage their people resources. It entails a number of procedures, including hiring, orienting, training, professional development, performance management, and succession planning. By coordinating staff competencies with organizational goals, the purpose is to maximize the value of a workforce. In this article, we will explore some examples of Human Capital Management in action but first let’s understand what it is. What is Human Capital Management? To properly grasp HCM, let’s first define what “human capital” is. The economic value produced by elements like a worker’s experience, skills, knowledge, and abilities is known as human capital. Contrary to concrete assets like buildings and machinery, human capital is an intangible asset. But assets, both material and intangible, have economic worth. The following are additional human capital assets with economic value: Physical and mental health of th...