Human Capital Management: FlexC
Human capital management (HCM) transforms human resources (HR) departments' traditional administrative functions like recruiting, training, payroll, compensation, as well as performance management into opportunities to drive engagement, productivity, but also business value. Human Capital Management views the workforce as more than a cost of doing business; it is a core business asset whose value, like any other asset, can be maximised through strategic investment and management. In the 1950s and 1960s, as computing started to accelerate the automation that had already started in the industrial age, the term "human capital" was first used. Economists and businesspeople started to view employees as knowledge workers with specialised skills and abilities that could support business success rather than as disposable units performing routine tasks. Definition The word HCM can refer to both a business strategy and a set of modern IT applications and other technology used to p...