What is Human Capital Management?
Human Capital Management (HCM) is an umbrella term that refers to all aspects of managing a workforce, including human resources, talent management, benefits administration, time and labor, payroll services, retirement services, business insurance, Affordable Care Act compliance, and more.
Essentially, HCM integrates often-siloed areas of workforce management. An HCM solution is particularly appropriate for midsized and large companies with complex workforces.
HCM solutions starts with workforce data consolidation, which enables companies to:
- Understand their total cost of workforce ownership
- Identify trends across all areas of workforce management
- Identify opportunities to gain efficiencies and improve KPIs
- Develop strategies to align workforce performance with corporate objectives
- Simplify HR administration
- Simplify Affordable Care Act reporting
Want to learn more about human capital management?
See how ADP helps companies take an integrated approach to managing their workforce. Visit ADP Human Capital Management >