Human Capital Management or HCM refers to the effective acquisition, employment, and development of a company’s employees using strategic and tactical practices, applications, and processes with the aim of maximizing their economic value.
One of the most effective ways to integrate all of an organization’s human capital management applications into a single user-friendly platform is HCM software.
Using HCM software is an excellent way for companies to maximize their overall HR efficiency and streamline the processes of recruitment, management, and development of employees.
Among the features and functions performed by an HCM software are –
- Recruitment and applicant tracking
- Managing employee profiles, performance reviews, and history
- Managing onboarding forms
- Employee self-service and events dashboard
- Integration with payroll software and benefits administration systems
- Secure data encryption
