One doesn’t like to think of people as ‘things’. For starters, it’s not politically correct. We live in a time when individuality and humanness is to be celebrated. You start talking about people as assets and you suck the humanity right out of the conversation. Business is not exactly known for its focus on humanity (some great corporate social responsibility projects aside), so maybe we shouldn’t be surprised that HRM (human resource management) is starting to be supplemented (replaced?) by HCM (human capital management).
In human capital management, people are basically considered business assets, although the concept sounds colder than it really is. This is because companies want to increase, improve and otherwise leverage their assets, so by investing in their employees they are in fact investing in their future.
On the other hand, when you consider some definitions of HCM, it seems very cold indeed. For example, Search Financial Applications says that for HCM to work properly, employees have to meet clearly defined and communicated goals. To ensure that they meet these goals managers watch them like hawks, holding them to benchmarks, rewarding those who meet their goals, and determining why some employees fall short. But, they also provide support, encouragement and motivation. To borrow a dog training term: human capital managers have to set up their employees for success.
SAP HCM Software
HCM relies on specific software to ensure that the process runs smoothly. The software, which falls within the ambit of ERP (enterprise resource planning) software packages, helps managers keep accurate records of all things related to HR, such as the traditional stuff like payroll administration, as well as new features like succession planning and personnel actions.
SAP AG provides a range of reputable business management software packages, such as ERP products and business applications, including HR and HCM solutions.
As the website states, the automated and streamlined software enables employees to meet their career goals while also meeting business objectives through ERP HCM processes. It achieves this through:
- Automated employee admin, like time management, payroll and legal reporting.
- Compliance with national and international HR regulations.
- Determining how the workforce contributes to the value of the business.
- Recruitment planning and management.
- Identifying talent and managing training programs.
- Aligning employee goals with business goals.
Specific human capital management tools include: Core HR and Payroll, Time & Attendance, and Talent Management.
SAP HCM Courses
There are plenty of opportunities to improve your human capital and resources management skills, especially if you choose to use SAP’s software. Here is a small sample of the number of SAP HCM training and certification courses available in Australia.
- Australia’s SAP Training and Certification Shop provides SAP Certified Application Associate – HCM Payroll with SAP ERP 6.0 EhP5.
- SAP Education Australia & New Zealand offers a selection of HR and HCM training courses, including modules on Personnel Development & Performance Management, Analytics & Reporting in HCM, Business Processes in HCM and SAP Enterprise Learning, E-Learning Development and Integration.
- Sydney Institute of ERP offers an SAP Business Process Integration Course that includes modules on ERP Basics, Financial Accounting, Human Capital Management and SAP NetWeaver Business Warehouse.
- The Eventful Group promotes SAP conferences and seminars, including those on SAP HR & Payroll, which can focus on anything from HCM reporting and organisational management to payroll processing and time management and rostering.
SAP HCM Jobs
Human resources and human capital management are growing fields, especially as more businesses realise the importance of investing in their employees. If you can prove your proficiency in SAP human capital management software, potential employers are more likely to linger over your resume and invite you for an interview. Here’s a quick overview of some of the SAP HCM jobs available in Australia.
- SAP HCM Business Analyst
- SAP HCM ABAP Developer
- SAP HCM Consultant
- SAP HCM Reporting Analyst
- HR Administrator
- SAP HR/Payroll Consultant
- SAP HCM Solution Architect
- SAP Payroll Solution Architect
If HR is your passion and you believe whole-heartedly in improving the lot of your employees, you might want to consider completing some SAP HCM courses, such as those listed on our site, and implementing some innovative human capital management solutions in your company.