Human Capital Management Features and Functions
Human Capital Management (HCM) encompasses all the applications necessary for handling personnel-related tasks for corporate managers and individual employees from the point of hire to the point of retire. This HCM model includes functionality for recruitment and staffing management, human resource management, career development, succession planning, learning management, performance and compensation management, and workforce management and planning.
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Recruitment and Staffing
Many milestones are achieved from the time a job posting is created to the time the employee is hired (requisition to sourcing to hiring). Recruitment and Staffing functionality allows the user to select and hire the right people with the right skill sets, as well as track the information regarding their recruitment for later analysis.
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Human Resource Management
Human resources management functionality affords clients the opportunity to rapidly determine their criteria for management and employee personnel tasks. Its criteria includes personnel management, benefits and payroll management, employee self service, and health and safety requirements.
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Career Development and Succession Planning
Career Development and Succession Planning are related processes that can help increase the capacity of an employees' contribution to the enterprise's long-term goals. Sub-modules include Career Development, Goals Management, Succession Planning, and Career Development Analytics and Reporting.
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Learning Management
A content management system is a software package designed to manage a web site. Content management systems are built on a central repository, which holds all content, metadata, rules, and supporting information. Around this, processes and disciplines are established that ensure that day-to-day activities run smoothly and efficiently.
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Performance and Compensation Management
Performance and Compensation Management provides organizations with the ability to track employee competencies and performance (including skill gap analysis, assessment and evaluation tools, etc.), as well as the ability to analyze trends and report on them.
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Workforce Planning
Workforce Planning functionality provides forecasting, planning, and analytics capabilities that help businesses anticipate the type, number, and quality of talent they need to execute their business strategy.
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Product Technology
Product Technology defines the technical architecture of the product, and the technological environment in which the product can successfully run. Criteria include platforms, interface, architectural foundation, application security, usability, Web forms, functionality, mobile capabilities, workflow and document management, multisite management, multicurrency management, reporting and analytics, and SaaS and hosting options.
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Human Capital Management (HCM) Features and Functions
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