First, what is Human Capital Management (HCM)? 

HCM is a hire to retire system that helps a business organize and manage an overall workforce, including areas such as: 

• • Workforce management (performance management and time management) 
  • Workforce optimization (workforce planning and professional development) 
  • Talent management (recruiting, on-boarding, retention and benefits) 

Where does training fit in HCM?

A learning management system (LMS) is an essential component of an integrated HCM suite. Effective organizations leverage their training investment to enhance each of the HCM core components:

1. 1. Performance management: training supports the skills all employees needs to improve their performance and time management
   2. Retention and recruitment: training helps with retention or recruitment as an added benefit to the employee value proposition for a company
   3. Onboarding: with proper training, human resources departments are able to accelerate on-boarding and ramp up of new employees 
   4. Talent development: reskilling or upskilling employees ensure they can better contribute to the company’s future 

To what extent does training improve the employee lifecycle?

With expertly curated training for each area of the HCM suite, an organization is able to achieve four critical outcomes:

1. 1. Reduce the time to hire. While this may come as no surprise, according to the Brandon Hall Group, your greatest challenge is attracting and keeping talent. 71% of the time spent on human resource teams are attracting talent. By using the elements of Data Science and making AI a top priority in attracting talent, you’ll be alongside the 24% of organizations doing the same over the next 24 months. 
   2. Enhance performance. Companies that effectively link learning to outcomes see 57% increase in compliance rates and 36% increase in individual and overall organizational performance.
   3. Cultivate talent. Companies that effectively link learning to outcomes see 31% of skill gaps closed and internal promotions go up. 
   4. Transform traditional learning. 60% of challenges to achieving learning outcomes happen due to lack of alignment between learning and outcomes. Design programs with content experts to best meet strategic objectives. 

As you can see, training complements an HCM strategy and content is core to a training strategy. OpenSesame’s curated elearning programs help organizations transform traditional training into modern learning that is lean, social, and personalized. Training integrated with an HCM suite maximizes talent and drives performance throughout every employee’s lifecycle. 

Effective learning and development is critical for talent management strategies. With OpenSesame, your HCM suite will be supercharged to get your employees engaged and thriving with the latest courses in compliance, time management, and professional development. 

Contact OpenSesame today to see how we can help you engage your employees with the latest courses in performance management, succession planning, and professional development.

(Click image to enlarge)

The post How training is integral to achieving all of your organization’s HR goals and human capital management (HCM) system appeared first on OpenSesame.