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. ______________________________________________________________________________ *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 appreciated. They need recognition. - HCM is a Top/Down Concept
- matter of mission and vision
- Mission- strategic direction and intent, what do I mean to do along with your
reasoning(consistently shared with team members)
- Vision- matter of goals and objectives
- Provide involvement/empowerment
- Ask for input from your team members/employees-allow ideas to be heard-adaptability - Make sure your entire team is oriented towards one goal
- Feel a loss when a member of your team is absent
- Individuals that depend on your ability to perform well- customer focus - Organizational learning
Discussion Regarding Strategic Plan / Mission and Vision Preparation(Professor's Notes)
Strategic Workforce Plan: Identifies the current and future workforce competency needs of the organization based on current and anticipated future development in the business and its products, services, markets, technologies and business processes. This plan integrates the planned development activities for the organizations workforce competencies that are necessary to provide the needed competencies over time. The strategic workforce plan sets long-term objectives for workforce activities at the organizational and unit levels. (Competency – capability, ability, skill, fitness, aptitude, proficiency, know-how, experience)
Mission and Vision Preparation:
1. Mission (Strategic Direction and Intent, Goals and Objectives, Vision) 2. Consistency (Core Values, Agreement, Coordination and Integration) 3. Involvement ( Empowerment, Team Orientation, Capability Development) 4. Adaptability (Creating Change, Customer Focus, Organizational Learning)
Chapter 1- Employee Selection
*Finding your candidates
-First outline the parameters of the job
-What is the job title and who does the job report too?
- When does the position have to be filled, and how much does it pay?
- Set realistic hiring timelines, don't rush a job offer
- Who needs to meet or interview...
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