Human capital management (HCM) solutions encompass applications for handling personnel-related tasks for corporate managers and for individual employees from the point of hire to the point of retire. HCM solutions provide the tools and technologies needed to enhance all facets of HR administration and employee relationship management.
An HCM solution generally supports key functionality such as recruitment and staffing, personnel management, benefit management, payroll management, career development and succession planning, learning management, performance and compensation management, workforce management and planning, and health and safety administration. Most HCM solutions on the market today also support employee and management self-service functionality. These systems support human resources (HR) personnel by automating much of the work.