What is a Human Capital Management Plan?
A Human Capital Management Plan is a strategic plan that enables HR leaders, managers, and teams of all sizes and industries to manage their human capital. It outlines the goals, objectives, and activities that are needed to achieve the desired outcomes related to talent management, engagement, performance, and development. A Human Capital Management Plan helps organizations identify areas for improvement, set goals, and create actionable steps to reach those goals.
What's included in this Human Capital Management Plan template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Human Capital Management Plan template for?
This Human Capital Management Plan template is designed to help HR leaders, managers, and teams of all sizes and industries create a plan to manage their human capital. It provides a framework for outlining the goals, objectives, and strategies needed to achieve desired outcomes related to talent management, engagement, performance, and development.
1. Define clear examples of your focus areas
Focus areas are the main areas of focus for your Human Capital Management Plan. Examples of focus areas include attracting and retaining talent, performance and engagement, and training and development. Each focus area should include objectives and strategies that are related to the respective focus area.
2. Think about the objectives that could fall under that focus area
Objectives are specific goals or outcomes that you want to achieve within each focus area. These should be measurable and have a timeline attached.
Examples of some objectives for the focus area of Attract & Retain Talent could be: Increase job applicant conversion rate, and Improve employee retention rate.
3. Set measurable targets (KPIs) to tackle the objective
KPIs (Key Performance Indicators) are specific metrics that you can use to measure progress towards an objective. Examples of KPIs include conversion rates, retention rates, engagement scores, and performance scores.
An example of a KPI for the focus area of Attract & Retain Talent could be: Increase conversion rate from 8% to 12%.
4. Implement related projects to achieve the KPIs
Projects (or actions) are specific activities that should be completed in order to achieve your KPIs. Examples of projects may include implementing a targeted recruitment strategy, developing a comprehensive employee benefits package, creating employee engagement surveys, and establishing a training and development program.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Cascade Strategy Execution Platform is designed to help organizations manage and track their Human Capital Management Plans. It enables users to create custom plans, develop strategies, track progress, and measure results in real time. Cascade enables organizations to achieve faster results from their Human Capital Management Plans.