Why is Human Capital Management (HCM) driving human resource professionals to a point where they feel isolated in their companies and with their teams? The reason, we believe, is because it is such a vague term, there is almost no way to define success. More importantly everyone's idea of success is so different.
Want proof of how the HR team is set up to fail in their HCM initiatives? Do a web search on the term "Human Capital Management". When you compile the results what you will find is a whole bunch of different kinds of companies, with a ton of different uses within HR, and no consensus on what HCM truly means.
Essentially, HCM is an empty vessel that anyone can use, and its meaning is in the eye of the beholder. The term has become so generic it is now the equivalent of "Band-Aid" when we mean adhesive strip or "Google it" when we mean look it up on the internet.
With no specificity in the term HCM, of course HR is set up to fail because there is no way to create an HR plan that has the most basic elements for a successful plan. Goals cannot be measured, timelines cannot be adopted, and a successful outcome is elusive.
Think about it, what was one of the first things we all learned about in our first job? We learned how to create S.M.A.R.T. goals (Specific, Measurable, Attainable, Realistic and Timely). There is almost no way to develop those based on the loose definition of the term HCM, and everyone's individual interpretation of it.