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DISCIPLINE - HRM
Author
Shaizal Batra
1. Introduction
9. Recommendations
11. Conclusion
13. References
INTRODUCTION
Human capital management is a burning issue not only in the field of human resource management but into every area
of management as human resource management peeps into every department of an organization. Considering
employees as resources for the organization and utilizing them at their best for attainment of the predetermined
objective of the organization if the foremost concern of any organization. HRM executives have to position themselves
aligning other people strategically. HR executives must excel successful strategies for continues success.
This approach enables HR executives to earn their place at the table with the rest of the executive management team by
delivering strategically relevant services that produce quantifiable results. Developed to integrate all the tools and
processes associated with people and performance, the Human Capital Management approach aligns the goals of
employees and the goals of the company to meet specific, measurable, and realistic business objectives.
While the processes associated with Human Capital Management are diverse, the skills component that drives many of
those processes can be managed effectively.
• Processes (activities specifically focused on the knowledge and collaborative activities generated by
organizational structure - such as silo impacts, internal politics, etc) and
• New generation must be given appropriate parts of the knowledge which has already been accumulated by
previous generations.
• The new generation should be taught how existing knowledge should be used to develop new products, to
introduce new processes and production methods and social services.
• People must be encouraged and motivated to develop entirely new ideas, products, processes and methods
through which creative approaches can be developed.
Creation of human capital was responsible for both differences in productivity of workforce and the differences in
overall levels of technology that we observe in the world.
CRITERIA USED IN THE STUDY
Key performance criteria to distinguish employees of organization included
• HIGHLY ENGAGED – Employees who are highly engaged into the organizational affairs and they are
actually proactive for taking initiatives for something new that helps for the betterment of the organization.
• COMMITTED – Employees who are loyal and keep their work up to date leaving any pendency behind. They
always perform the task in the predefined manner and never give a chance to management about complaints.
• WILLING SUCCESSOR – The members of the organization who are keen about their own growth as well as
organizational growth and they possess the qualities to be a good successor of the higher post because of their
commitment towards growth.
• SATISFIED EMPLOYEE- Employees of this category are satisfied with their job and have no long term
plans. They feel that whatever had to be done in terms of career growth has been done by them. They feel happy
with their current position in the organization and are always there for the organization.
• LINGERER – They are considered as the category where working is like hell. They consider themselves as
facilitator rather than taking responsibility for performance of the task. Continuous monitoring is needed if the
task has to be performed by them. These people always remain in their own engagements rather than
completion of the given job and most of the times they are dissatisfied with the organizational policies. The
management also neglects them but don’t fire them because they know that some working hands are needed for
the job.
COMMON CHARACTERISTICS BETWEEN INDIVIDUALS ENJOYING BEST IN CLASS
PERFORMANCE AT VARIOUS LEVELS
• Strong alignment between HUMAN CAPITAL MANAGEMENT strategy and business or situational priorities.
• Standardization of human resources and talent process to improve efficiency for strategic initiatives.
TO ACHIEVE BEST IN CLASS PERFORMANCE INDIVIDUALS AT ALL LEVELS MUST
• Know the job roles that enhance and drives business performance.
• Have access to and know how to utilize human capital management data to make better decisions.
ORGANIZATIONAL DESIGN— it provides a base of consistent and pre-defined skills requirements and
descriptions. This feature can dramatically accelerate the development of competency models and help
companies adapt them quickly to meet changing job requirements.
WORKFORCE PLANNING AND DEPLOYMENT—Skills metrics provide a roll-up view of skill levels
across the organization, clearly revealing skills gaps so that managers can focus their training and development
resources. Detailed assessment scores in key skills can help companies quickly identify and prepare employees
with the competencies needed to fill in key job roles as proven performers move or retire. Finally, skills metrics
can help employees move within the company by establishing skills milestones for career advancement and
requirements for new positions.
RECRUITMENT—Recruitment is the most common process yet but the most crucial activity in any
organization. Companies can improve their screening processes by creating direct links from job postings to
tests and scored questionnaires. Skills metrics can be included as part of an applicant tracking system to support
recruiting decisions throughout the hiring cycle. For pre-employment screening, online skills assessments can
validate candidate qualifications and identify candidates for advancement in the hiring process, quickly and
effectively.
PERFORMANCE—Skills measurement systems provide key advantages for managing and improving
performance, particularly in relation to balanced scorecard initiatives and in the employee evaluation process.
For the employee evaluation, performance can be determined by a multitude of factor. However, many
performance determinants, such as manager or peer reviews, depend on subjective feedback. Skills assessment
scores provide a valuable source of objective data to support the employee evaluation process, with a level of
detail that enables employees to track improvement in existing skills, as well as to validate the acquisition of
new skills.
KEY FACTORS RAISING THE NEED OF HUMAN CAPITAL MANAGEMENT
Business leaders today are realizing that talent and workforce management play a critical role in enabling the growth of
organization. One of the most successful human capital management initiatives was established of internal academics
to develop, groom and nurture internal talent. It helps in managing experienced and skilled workforce too. The key
factors raising the need of human capital management are:
• Economic uncertainty.
• Increase in competition.
It requires strategic investments in acquisition and the development of talent to support the business.
The basic challenge towards human capital leaders is to position them to guide this growth from a talent perspective
and ensure that human resource and talent management processes align with organizational growth goals. The major
barriers are:
• Time – People and the top management thinks that it takes a lot of time for executives to be groomed and
nurtured because their mentality supports that the executives can learn by doing doing ht job on a continual
basis and professional people does not have a separate time schedule as it will affect their productivity at the
time of performance of the job.
• Lack of support from business leaders for human capital management initiative – As this concept is not so
much familiar in industry only selected entrepreneurs encourage the concept and rest of the others thinks human
capital management is waste of time, resources, efforts and money. They think that in the time when we can
make executives train, at the same time we can go for capsule courses concerned with the task only.
• Lack of awareness – More emphasis has to be given on the need and importance of the concept as it stills holds
the key concern regarding the improved efficiency and organizational productivity.
• Lack of commitment – The executives or employees at different levels still thinks that when we are into the
job and performance is OK then it is a mere waste of time and they develop a feeling that management is not
confident on us.
STRATEGIES FOR SUCCESSFUL HUMAN CAPITAL MANAGEMENT
The challenges are great, barriers are many but despite them many organizations are finding ways to push forward with
organizational and human capital goals. These strategies start with
• Making gap identification, a repeatable process rather than single shot event.
• Self accountability.
• Communicate frequently.
RESEARCH METHODOLOGY
The study aimed to identify best practices for talent and workforce management in industry and provide a framework
by which readers could access their own capabilities in this critical function. A case study is being analyzed so that the
critical factors for successful implementation of human capital management can be assured.
• The perceived challenges that impact the human capital management efforts.
• The organizational and process capabilities that allow them to execute on their strategies.
• The quantitative results that have been achieved by executing the human capital management strategy.
CONCLUSION
After the study we can conclude that with change in time and change in external environment the need of human capital
management is being increasing day by day to attain the organizational objectives efficiently. Even the concept of
human capital management can be implemented into educational institutes, specially engaged into professional
education so as to enhance the productivity of the students by providing them the balanced training and education of
various theoretical and practical tools and techniques. It will help students to get good jobs immediately after
completion of their degree.
It is the need of the hour that innovative techniques are to be followed for remaining ahead in the completion. This will
only be possible through grooming the workforce.
CASE STUDY
References
1. Book reference - PC Tripathi, P N Reddy (2009), Principles of management, Tata McGraw Hill Companies,
India.
2. VSP Rao (2010), Human Resource Management, Excel Books, India.
3. http://en.wikipedia.org/wiki/Human_capital