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Human Capital Management (HCM) has been described as a high-level strategic issue that seeks to analyse, measure and evaluate how people policies and practices create value. Put simply, HCM is about creating and demonstrating the value that great people and great people management add to an organization. This unique book describes how HCM provides a bridge between human resource management and business strategy. It also demonstrates how organizations can use the concepts of human resource management and the processes involved to enhance the value they obtain from people while continuing to meet their aspirations and needs. Armstrong and Baron explain how to achieve these objectives using various approaches including: Describing the concepts of HCM and how the process works; Examining the practice of HCM with regard to measurement and reporting; Discussing the various applications of HCM with regard to HR strategy formulation, learning and development, knowledge management, performance management, reward management and talent management; and examining the role of HR in HCM and the future of the concept. It also contains an appendix a toolkit which organizations can use to develop their own HCM policies and practices.