Human Capital Management Strategy
A human capital management (HCM) strategy is a plan for managing talent in ways that enable an organization to meet its strategic objectives. Excelling at developing and managing an HCM strategy is particularly important for HCM professionals today. The days of having to convince business leaders that talent matters are gone. Business leaders now know that talent can make or break organizational performance, and as a result, they have high expectations for how their organizations approach HCM strategy.
Key Human Capital Management Benchmarks
Prepared using APQC’s Open Standards Benchmarking® portal, the articles in this collection present key HCM metrics by process. The collection includes metrics related to cycle time, cost, staffing, and more.
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Developing a Human Capital Management Strategy
HCM strategy development begins by determining the strategic HCM needs of the organization. This involves gathering input from a variety of internal and external sources. Once an organization’s HCM needs are identified, parameters can be set for how HR and the business will collaborate and ensure these needs are ultimately met. This involves establishing roles and accountabilities, as well as gathering key baseline data on HCM costs and other key performance indicators (productivity, efficiency, cycle time, quality, and business impact/outcome measures) that will be used to monitor and evaluate.
Finally, once a strategy is developed and roles, accountabilities, and measures are defined, the HCM strategy is regularly communicated throughout the organization.
See How Your Efforts Measure Up
Create and Manage HR Strategy Performance Assessment
Connect HR strategic activities to business objectives by completing the Create and Manage HR Planning, Policies, and Strategies. Open Standards Benchmarking Assessment. By linking a documented HR strategy to achieving market objectives and reporting such results to all stakeholders, the human resource executive is more likely to receive the necessary resources and leadership attention.
