Human capital costs account for at least half of the variable costs within a company. Yet this cost center is typically managed with less ﬁscal discipline, fewer business intelligence metrics, and more compromise than the more traditionally valued business aspects such as development and infrastructure.
Human capital management (HCM) needs best practices just like the other aspects of your business—a high turnover increases costs for training and knowledge transfer, while too many disengaged employees means a loss of proﬁts from your bottom line.
This paper looks at how having a single, integrated, and comprehensive talent management solution can help manage all aspects of the employment lifecycle and aid in the management of human capital costs. Included here are case studies of ﬁve organizations that have used comprehensive talent management solutions and experienced good results, including increases in sales per employee and higher profits per employee.
The organizations discussed include a large restaurant chain, a restaurant supplier, an automotive services chain, a food retailer, and a bank holding company. Read on for real-life examples of successful human capital cost reduction through best practices brought about by HCM software solutions, such as streamlined processes, higher accuracy, and improved cost and time savings.
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human capital management, HCM, talent management, talent, variable costs, human capital costs, HR costs