Effectiveness of Human Capital Management
The Rise of Human Capital Management over the last five years has introduced new opportunities to have a more centralized and process-driven approach. People are the center of every organization, and the experiences—positive or negative—of the workforce will affect the level of human engagement that can be achieved. It will determine whether everyone, from seasoned company leadership to the newest hire, will reach their shared expectations. Organizations must empower HR and managers to guide their workforces effectively, fostering every opportunity to maximize individual employee experience. Ventana Research asserts that by 2024, one-third of organizations will be using adaptive Human Capital Management (HCM) systems that can respond in real time to broad-based data signals and triggers by alerting and nudging relevant stakeholders for optimizing HR-related policies. Organizations that harvest the value inherent in HCM will ensure that they reach their full potential today and into the future. HR organizations should ensure that investments into HCM meet the needs of the organization and the workforce.