The Concept Of Human Capital And Its Development Over Time In the past, used to be regarded as human resources and human capital strategies managers part of the administrative side of any Standard Bank and the director of human resources of the branch of Standard Bank in South Africa, explains the concept of human capital management and previously what it is and what it is supposed to be the future.
“The future of any 100K Factory Revolution organization depends on the personnel management” (Colin Kolsn Thomas: The Future of institutions, 1998)
The identification of strategic human capital to be effective from the point of planning is a complex process. This subject continues to develop and is the subject of study and research and discussion by academics and commentators all over the world. The definition and relationships that collects other aspects of business planning and strategy is not fixed truths, where diverse views and differ between authors and researchers and even among professionals in the human resources themselves. Can the strategic management of human capital regarded as a general trend of strategic management of human resources in line with the objectives of the institution on how to ensure the current success of the company’s future and the direction you want to move it forward. This concept means that the problems of employees in the long term as well as the overall considerations concerning the structure and quality, culture and values, commitment and performance and the extent of matching resources with future needs within the context of economic work and a rapidly evolving community (Moved from CIPD) Institute.
Institutions generally aware that human capital management reflects the acceptance and involvement of the HR function -alta include the appointment and selection, training and reward Mozvin- as a strategic partner in the development and implementation of the overall company strategy, which makes the human capital management pivotal pillar of the success of the company. Many organizations have not yet realized the importance of their employees for their success, and this is what led to the neglect of human capital strategies. Usually a crisis the size of the global economic downturn requires companies even realize that it is fighting a war for talent, and even re-priority strategies for human capital arrangement.
The effectiveness of the HR function as a key component of strategic human capital in organizations. HR function has evolved greatly over the past few decades, as has been the practice to be administratively and procedurally role, where she was human resources involves the maintenance of personnel records and make sure they get their salaries on time and do appoint and terminate staff services. Albeit rarely happened Osla- what is included in the planning process of the company was seen as a function of office have not the slightest importance in achieving its strategic goals.
Most institutions now understands that if she wants to ensure continuity and success in turbulent economic stages by which, it must be a radical shift in how human capital management. In any case, Vmozvin are realize their profits.
In contrast to the previously described which was more biased towards the administrative side, we find that the HR function now required to include the following activities and policies:
Participation in planning: Participate in the development strategy of the company and include human capital strategy as one of the key success factors.
Design: method can design the value chain of human resources to ensure a competitive advantage in the search for and retain talent and development.
HR planning: to ensure that the workforce estimates and increased staff numbers and skills mix can enterprise performance and achieve its goals at the present time and in the future.
Attracting talent and maintain: keep key talent by offering an appropriate value for the staff, has applied many 100K Factory Revolution Bonus companies different strategies to become “a great place to work.”
Planning: appointment and the effective deployment of talent in the company as well as succession planning for key roles.
Training and development: skills and the development of investment in staff is the need to maintain a competitive advantage indispensable to the success of the company.
Career paths: Must be career development and upgrading systematic and specific well to deploy talent effectively, maintain and meet individual aspirations that are in line with the company’s needs.
Performance Rating: granting of reward and recognition for outstanding performance and impose sanctions on the poor performance is one of the key factors for success.
Outstanding Performance Culture: There is a need to develop a sustainable culture of excellence and performance-related, which should enable it to humanity through effective participation in addition to the existence of procedures and regulations.
Values and vision: institutions that can operate according to a set of values and vision of continuity and preserve the disruption over long periods of unrest and threats (Richard Barrett). Respect, integrity, honesty and transparency have a magic effect on employee motivation.
Employee Engagement: 100K Factory Revolution Leadership plays an important role in motivating employees and encourage them and work to involve employees and their agreement with the vision and values of the institution.
Employee relations: there is a need to form healthy relationships between management and staff to ensure staff focus on their roles. Moreover, it is considered necessary to participate actively with the trade unions in matters that concern them and to avoid unrest and industrial action.
Staff safety: initiatives that do care about the health of the staff so that they can outdo the performance of their competitors.
Transformation: The ability to accept diversity and overall practices are important things in tune multinational workforce, as demographic aspects will vary considerably among the employees the same sex, age, experience, gender, language, religions and so on.
Empowerment: allowing staff to make decisions through the authorization and take responsibility for their actions.
Commitment is subject to the bulk of the human capital of legislation local and international laws and management. It is the main tasks of human resources to ensure compliance with laws and regulations of employment and not to expose the employee to risk.
Focus: only when there is proper HR systems senior management will be able to focus on the strategic aspects of the company and being able to establish institutions more responsive and effective.
Innovation: We need to develop a spirit of innovation and creativity and enable our employees to challenge prevailing ideas.
Culture: it is necessary to do the design and the institutional structure to include and support a culture of performance and execution to serve the objectives of the institution.
Reducing bureaucracy must develop and implement policies, procedures and processes that support outstanding performance culture and remove bureaucratic practices is necessary.
The transfer of knowledge: it is important to facilitate the participation of knowledge among the workforce and in communication processes, especially by the leaders.
Logistics: to provide a work environment helps all employees on performance and work, including those with special needs.
Relations: take care of the positive relations among the various levels and functions (relations within divisions and between divisions each other).
If you are responsible for human capital in your organization, the ongoing task is to find ways to improve the return on investment of human assets in the organization. However, be careful when using the analogy of staff and assets to ensure not to view employees as commodities; Employees are not just numbers, but are human beings in the first place. We have many programs and systems to focus on the application of knowledge, skills and motivate both individual and collective performance.
The participation of employees, or in other words the quest to win the hearts and minds and hands are a necessity for the success of the company. As I have stated, “Society for Human Resource Management,” the employees spend more than 70% of the times of the year to work. If true, this claim, the institutions and their leaders to the challenge of establishing a more balanced life consistent with sustainable long-term needs of the staff and the community in which they live and for networks that are a necessity for the life of a community sound in addition to taking care of the important problems of sustainability and institutional success.
Finally, the world has undergone tremendous changes over the past five years, with the onset of the global economic recession and globalization in general. This requires us to reformulate our dealings with human capital radically style. If we are to succeed, it must be the new version of the concept of human resources focus on:
Develop synergistic and holistic and integrative practices, human capital and to provide economically viable solutions.
Performance measurement compared to the ideal models and competitors to learn about the level of our performance and positions that we need to improve it.
Measuring everything we do in the human capital management because “what gets measured, gets done.”
You must place the necessary systems to keep track of the data recorded and effectively, reporting and control as well as quality assurance.
Ensuring continued compatibility with the company’s direction and strategic plans.
To address and meet the new and previous challenges in human capital management, should HR professionals and managers of departments upgrading their goals and change their behavior. It must be the development of their potential and their abilities on an ongoing basis. The lack of awareness of the importance and the need for management strategies and human capital will be a failure to understand that the establishment of a successful and effective institution Requiring hiring a high degree of effectiveness and efficiency. “The primary factor in determining the success of any organization is its ability to use human capital talent.”