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Empower your people: human capital management software

Human capital management means taking care of your employee records, the needs of your workforce and how your company treats its talent.

Developing your company's greatest asset

To successfully manage your employees, you need to commit to consistent communication that keeps employees in the loop on what needs to be done and on who is responsible. In addition, your business should offer a recognition program that encourages workers to go the extra mile and foster a positive work environment. If you listen to the needs and values of your employees, you'll ensure that you're providing the right incentives for a job well done. A powerful cloud-based human capital management solution can help you achieve this.

 

What does human capital management mean?

Human capital management (HCM) refers to the actions taken by a company to optimise the value of its human resources—simply put, its people. HCM strategy considers employees to be company assets, the value of which can be increased through strategic development, management and investment. These tactics are often deployed through the use of human capital management software.

Standard human capital management software functions include a range of processes designed to optimise employee recruitment, monitoring, management and development.

HCM software provides users with access to employee data and valuable workforce reporting and analytics.

 

Why human capital management is important

Human capital management is important because the human component of a company is essential to its function. Even within companies that rely heavily on automation, employees are necessary to monitor those processes. Proper employee oversight and development in the form of solid human capital management can make all the difference to a company’s longevity. The success of any organisation depends on its people. Employees are your company's greatest asset—and you must manage this human capital to achieve positive results.

By becoming an employer of choice, you'll find that the brightest talent in your industry will be eager to join your team. Work with the management team to foster a workplace with good supervisory skills and plenty of new challenges and advancement opportunities for employees to experience a fruitful and successful HR strategy.

With a team of engaged employees, your company will benefit from increased productivity, lower turnover rates and reduced absenteeism. Plus, when workers feel good about your company, they'll share that feeling with customers. And that can translate into increased profitability.

 

Human capital management vs human resource management

The key difference between human capital management (HCM) and human resource management (HRM) is that HCM views employees as assets, while HRM refers more generally to the systems a company uses to manage its employees. HCM is a systematised approach to managing employees, with the goal of increasing their value.

Since the core principle of HCM is widely accepted in modern business practice, HCM and HRM are often used interchangeably.

 

A single human capital management solution

A cloud-based human capital management solution supports the concept of the employment journey. By bringing together all your people into a single, secure repository, you'll unite performance management with your company's talent development, payroll, core employee records, learning management, career planning and more. When your human capital management processes are in one place, you can transition away from old and unreliable systems to a single solution and improve your employees' lives.

Manage your workforce in a single solution

Simplify HR operations and empower your people.

Act on workforce reporting and analytics

By using the latest data and insights about your workforce, you can ensure your decisions are based on facts and not just your intuition.

Gain insights into your workforce

Get all the information you need on your employees and their roles, professional development, compensation and benefits wherever and whenever you need.

Count on a secure cloud platform

Get unmatched reliability, security and privacy with Sage Business Cloud People.

The right HR solutions to meet your need

Sage Business Cloud

People

A cloud-native People system built on the Salesforce platform. Deliver enhanced employee experiences to your workforce anywhere at any time..

  • All your people information in a single, secure system of record, with access on any browser or device
  • Real-time workforce visibility with pre-built dashboards and analytics for smarter people decisions
  • Built on the Salesforce platform providing unparalleled reliability
  • Ability to meet both local and global compliance reporting requirements
  • Providing a consistent onboarding experience no matter where the employee is located
Learn more about People

Sage MicrOpay

A market leading Australian payroll and HR management software solution that helps businesses across the country perform smartly and more efficiently.

  • Efficient and accurate payroll processing and workflows designed for Australian and New Zealand conditions
  • Self-service and mobile access to empower your employees
  • Multi-location payroll management with ability to manage multiple companies, databases and pay frequencies
  • Always up-to-date with payroll legislation and regulations, including Single Touch Payroll Reporting
  • On-premise or online deployment, depending on your needs
  • Range of flexible reporting with adaptable export options
  • Superannuation solution that is Superstream compliant
Learn more about Sage MicrOpay

Do you want business advice about managing your people?

Read our articles, guides, expert tips and more.

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