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Peer-reviewed

Beyond Payroll: Strategic Human Capital Management in the 21st Century

Dr. Seema Zagade , Chintamani Sahasrabudhe

DIP: 18.02.058/20251003

DOI: 10.25215/2455/1003058

Received: July 19, 2025; Revision Received: July 25, 2025; Accepted: August 04, 2025

Abstract

In the rapidly evolving global economy, the role of human capital has transcended traditional administrative functions, becoming a cornerstone of organizational strategy. This paper explores the transformation of Human Resource Management (HRM) from a payroll-centric operation to a dynamic, strategic partner in driving organizational success. By examining current trends, such as the integration of advanced analytics, artificial intelligence, and workforce agility, the study reveals how strategic human capital management (HCM) enables organizations to adapt, innovate, and thrive in a competitive environment.

The research draws on a multidisciplinary approach, combining case studies, industry reports, and empirical data to illustrate how organizations are reimagining talent acquisition, development, and retention. It highlights the shift from transactional HR processes to value-driven initiatives that align human resources with broader business objectives. Special emphasis is placed on the importance of employee engagement, diversity and inclusion, leadership development, and the cultivation of a resilient organizational culture.

Additionally, the paper addresses the challenges that accompany this shift, including technological disruption, changing workforce expectations, and ethical considerations in data-driven HR practices. Through a strategic lens, it argues that organizations which effectively leverage their human capital not only gain a competitive advantage but also contribute to long-term sustainability and innovation.

Ultimately, this study advocates for a proactive and integrative approach to human capital management—one that positions people not merely as resources but as strategic assets essential to achieving mission-critical goals in the 21st century.

The author(s) appreciates all those who participated in the study and helped to facilitate the research process.

The author(s) declared no conflict of interest.

This is an Open Access Research distributed under the terms of the Creative Commons Attribution License (www.creativecommons.org/licenses/by/2.0), which permits unrestricted use, distribution, and reproduction in any Medium, provided the original work is properly cited.

Responding Author Information

Dr. Seema Zagade @ sruthi@paradoxpublications.com

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Beyond Payroll: Strategic Human Capital Management in the 21st Century

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Article Overview

ISSN 2455-670X

DIP: 18.02.058/20251003

DOI: 10.25215/2455/1003058

Published in

Volume 10, Issue 3, July – September, 2025

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