HR Answer Book Chapters 1-7 Notes

02/06/2014 To me Human Capital Management is the process of researching, analyzing, and reporting data for employees that would add value to the company. HCM believes that employees are looked at as assets to the company and not just a resource, but seen as an actual "human," per say. HCM provides employees the necessary tools to continually improve their career. In other words, the employee is not set up to fail without choosing to do so themselves. HCM clearly defines their expectations of each employee and is consistent with their communication. In a sense they provide a bridge between HR and business strategy. In the eyes of HCM their employees are their lifeline, without them there would obviously be no company. In order for the company to thrive their employees have to stay motivated to continue be productive and that in a sense is what HCM is there for.
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*Class Notes on Defining HCM* (berson.com)
- Dated back to Egyptians & slavery
- How people are evaluated and compensated
- Establish an atmosphere where people feel appreciated and challenged
- Technical Definition from Denise Kingsmill- approach to people management(or workforce management) that treats it as a high level strategic issue and seeks systematically to analyze, measure, and evaluate how workforce policies and practices contribute to value creation. (In other words you don't leave human capital management solely to human resources.)
- Appreciation of the value you have for the people in your workforce
- HR= Brain and HCM= Heart(high level strategic)
_____________________________________________________________________________________ - HR Metrics that Count: Aligning Human Capital Management to Business Results by David S. Weiss
- Document, document, document!!! (conflict resolution, etc.)
- Always more expensive to hire new employees
- Employees are most like to leave their job due not being