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The definition of Human Capital Management
The development of all labor-related issues that impact a firm’s strategic and operational objectives, including: the employment of people; the development of resources; and the utilization, maintenance, and compensation of their services aligned with the job and organizational requirements. Today, the HCM discipline is more critical than perhaps ever before. Adequately managing every facet of talent and labor requires a detailed examination of all segments of the workforce against every area of operational detail.
Human resource capital works closely with human resources management as all the policies, procedures, and resources in place to manage the talent assets of an organization. It’s based on many different elements that take into consideration the hierarchy of the company, and includes things like compliance and diversity and many of the “formal” structure of how talent is organized and managed by human resources. HCM, human capital management, might be considered more strategic in that it is more concerned with how “assets,” specifically the “talent assets,” or people, in an organization are brought in, retained, moved around, and managed to bring value to the organization. So, it’s less about hierarchy and formality, and more about what you do top to bottom to gain the most value from your talent assets.
However, what is the relationship between business growth and human capital?
Businesses are very important. All across the world people are in search of jobs. Jobs, so they can raise their families and send their children to school. Jobs, that provide access to social protection for them and their families. Moreover, jobs in which they are respected can organize and have a voice. What they want is decent work. Business play a key role in creating productive and decent work that helps meet the economic and social aspirations of people and their communities. Whether small, medium or large, enterprises
The development of all labor-related issues that impact a firm’s strategic and operational objectives, including: the employment of people; the development of resources; and the utilization, maintenance, and compensation of their services aligned with the job and organizational requirements. Today, the HCM discipline is more critical than perhaps ever before. Adequately managing every facet of talent and labor requires a detailed examination of all segments of the workforce against every area of operational detail.
Human resource capital works closely with human resources management as all the policies, procedures, and resources in place to manage the talent assets of an organization. It’s based on many different elements that take into consideration the hierarchy of the company, and includes things like compliance and diversity and many of the “formal” structure of how talent is organized and managed by human resources. HCM, human capital management, might be considered more strategic in that it is more concerned with how “assets,” specifically the “talent assets,” or people, in an organization are brought in, retained, moved around, and managed to bring value to the organization. So, it’s less about hierarchy and formality, and more about what you do top to bottom to gain the most value from your talent assets.
However, what is the relationship between business growth and human capital?
Businesses are very important. All across the world people are in search of jobs. Jobs, so they can raise their families and send their children to school. Jobs, that provide access to social protection for them and their families. Moreover, jobs in which they are respected can organize and have a voice. What they want is decent work. Business play a key role in creating productive and decent work that helps meet the economic and social aspirations of people and their communities. Whether small, medium or large, enterprises
References: 1. http://blog.yoh.com/2012/06/human-capital-management-an-updated-definition.html 2. Human Capital – A Driving Force for Business Growth Author David Lamotte – Director, ILO Office for the Pacific Island Countries1http://www.ilo.org/wcmsp5/groups/public/---asia/---ro-bangkok/---ilo-suva/documents/publication/wcms_192340.pdf 3. HR Support on the Employee Resignation Process Author: Michael Jacobson, JD, Legal Editor 4. What to do when your star resigns Author by Stephanie Zillman http://www.hcamag.com/hr-news/what-to-do-when-your-star-resigns-174326.aspx 5. Workforce Management http://hiring.monster.co.uk/hr/hr-best-practices/workforce-management/employee-retention-strategies/should-i-try-and-persuade-an-employee-who-has-resigned-to-stay.aspx 6. 5 Employee Retention Strategies for a High Performance Environment Author by Kyle Lagunas http://www.tlnt.com/2012/07/17/5-employee-retention-strategies-for-a-high-performance-environment/ 7. Top 10 Tips for Successful Employee Recruiting By Susan M. Heathfield 8. Manage 'Human Capital ' Strategically 9. Managing people wisely should be at the core of all district improvement work Author By Allan Odden, Phi Delta Kappan