Human capital management (HCM) is a set of practices related to people resource management. These practices are focused on the organizational need to provide specific competencies and are implemented in three categories: workforce acquisition, workforce management and workforce optimization. The applications that help to enable human capital management include: Core administrative support: Personnel administration Benefits administration Payroll Portal/employee self-service Service center Strategic HCM support: Workforce planning Competency management Performance management Compensation planning and strategy Time and expense management Learning (education and training) Recruitment (hiring and recruitment) Onboarding Contingent workforce management Organization visualization Other HCM: Reporting and analytics (workforce analytics) Workflow
