HR Management & Compliance

5 Things to Know About Human Capital Management in 2019

The people of an organization should now be considered its greatest asset, so experts in the modern-day workplace are looking to transform Human Resources (HR) departments into human capital management (HCM) departments, emphasizing the importance of their people.human
Here are five things you’ll want to know about HCM in 2019.

1. Data Insights and Automated Technology Will Need People Insights

Even though artificial intelligence (AI), machine learning, and people analytics will propel HR departments forward in 2019, they’ll still need to be managed by humans to remain effective and yield high returns on investment (ROIs).
Read “How to Keep the ‘HI’ in Your HR While Using High-Tech AI for more details and information.

2. Employee Development as a Service

Ceridian research revealed that HR departments must treat employees as consumers and cater to their desire for instant gratification—and they will need to do this using updated  platforms and mobile-first approaches.

3. Agility and Personalization Will Be Key

HR and learning and development (L&D) departments must be more agile in 2019 and recruit more agile employees. It is no longer relevant to have monthly or annual strategies or a prearranged trajectory set in stone for departments or employees; instead, HR and L&D professionals must work together and rely on their people analytics and their machine learning and AI technology to make personalized real-time and data-driven decisions. This agility is also key to ensuring that “employee development as a service” yields a high ROI.

4. HCM Guides and Embodies Real Relationships and Partnerships

HR should no longer be viewed as an authoritarian department where employees go to be reprimanded; instead, HR (or HCM) departments should more closely work with L&D departments to offer more coaching, mentoring, and social learning experiences for their employees and promote inclusivity and protections across their organizations in the wake of the #MeToo movement. And these departments should offer an environment that fosters authentic relationships and partnerships both inside and outside the organization.

5. Provide Hubs for Innovation and Growth

HR and L&D departments should also become hubs for innovation in 2019. Many HR departments are forming innovation labs with technology vendors to make their operations more efficient, and they are relying on those innovation labs and technology partnerships to use their people analytics and human capital to inspire organizational growth and prosperity.
As your HR department continues to evolve this year, keep the five trends listed above top of mind.