Human capital management (HCM) degrees are similar to human resources management (HRM) degrees. Learn about the similarities and differences between these degree programs.
Human Capital Management Description
The term human capital management is beginning to replace the term 'human resources' (HR), the same way HR replaced the term 'personnel management'. The concepts and ideas of human capital management come from things learned in the field of human resources. This is due to the increasing responsibility and inclusion of human resources in aiding management decisions and practices.
Human capital management focuses on analyzing, evaluating and measuring the value of a company's workforce. More than simply saying a worker is 'good' or 'bad', human capital management makes human capital investment an important focus in the company. The following topics differentiate human capital from human resources:
- Analysis of business strategies
- Human capital measurement
- Return on investment (ROI) analysis
- Design of organizations
- Change implementation through various methods
- Talent management and leadership development
<h3 id="section---ImportantFactsAboutThisFieldOfStudy">Important Facts About This Field Of Study</h3><p></p><table border="1"><tr><td> Degree Field </td><td> Business</td></tr>
<tr><td> Online Availability </td><td> Yes</td></tr>
<tr><td> Possible Careers </td><td> Consultant, Human Resources Manager, Capacity Manager, Labor Relations Manager</td></tr>
<tr><td> Prerequisites </td><td> Program dependent but at least high school diploma or equivalent</td></tr>
<tr><td> Job Outlook (2021-2031) </td><td> 7% growth <i>(for human resources managers)</i>*</td></tr>
<tr><td> Median Salary (2021) </td><td> $126,230 <i>(for human resources managers)</i>*</td></tr>
</table><p><i>Source: *U.S. Bureau of Labor Statistics</i>
</p><h3 id="section---DegreePrograms">Degree Programs</h3><p>There are few undergraduate and graduate degrees strictly in human capital management. Rather, many schools offer professional certificates in human capital management. Programs are generally designed for current HR professionals who are in charge of or interested in enhancing their current HR processes and procedures. Some common courses and topics in a human capital management certificate programs may include human resource selection, recruitment, job descriptions and evaluations, human resource techniques and employee benefit programs. Other courses explore the following topics:
</p><ul><li>Building high performance workforce strategies
</li><li>Compensation and competitive pay programs
</li><li>Nuts and bolts of human capital management
</li><li>Fair employment practices
</li><li>Employment law
</li><li>Strategic organization design</li></ul>
