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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 approaches 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, on who is responsible, and on keeping them updated. 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 optimize 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 optimize 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 in a company’s longevity. The success of any organization 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 have 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 systematized 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, their roles, professional development, compensation, and benefits, wherever and whenever you need it.
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Count on a secure cloud platform

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

The right HR solution to meet your needs

Sage Business Cloud People

Transform how you manage and engage your workforce with our global cloud HR and People management solution

  • Increase team efficiency and productivity through the automation of key tasks and workflow
  • Empower teams to do their best work, by providing tailored and meaningful experiences that matter
  • Get instant workforce visibility and actionable insights, from a single source of truth
  • Engage your workforce via a tailored and branded self-service portal
  • Benefit from unparalleled reliability and security, while meeting global and local compliance requirements
  • Stay compliant with secure Canadian data residency
Find out more

Do you want business advice about managing your people?

Read our articles, guides, expert tips and more.

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