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Human Capital Management
Managing your Human Capital
Is Human Capital Management (HCM) anything more than the latest HR buzzword? Looking beyond the maze of HCM models and measures, what does it really add to the good practice in people management and development already in the Investors in People Standard?
For many organisations, the ‘holy grail’ of people management is the ability to demonstrate measurable improvements to overall business performance, and attribute these to the way people are managed and developed. Where these kinds of links can be made, senior managers can base their decisions on data and trends rather than hunches. It can help connect the ‘HR levers’ of training, people policies and management capabilities with the effect they have on important aspects of organisational performance – so you can tell what works and what doesn’t. And it can provide evidence internally and externally of the impact of your investment in people on improving their effectiveness and contributing to the bottom line.