StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Human Capital Management - Essay Example

Cite this document
Summary
This essay "Human Capital Management" explores the talent strategies of human resource management whose collective use is referred to as human capital management (HCM). The essay enumerates the various components of HCM and its practical benefits to the business…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER91.3% of users find it useful

Extract of sample "Human Capital Management"

A critical component of HCM is identifying and recruiting the talent necessary to fill personnel positions (Ployhart et al. 375). Positions are filled in one of two ways. The first means of filling vacant positions is through the internal mobility of incumbent staff through promotions and task re-allocations. To this end, transparency is crucial in guaranteeing replicable succession planning. Talent can also be sourced from external organizations. Having an established workflow through which either of two is accomplished, including applicant tracking, is integral to the success of this HCM component.

Insufficient and disorganized talent recruitment adversely affects the talent pipeline that, ultimately, derails business operations and growth. Businesses keen on optimal HCM should conventionalize the following: sourcing relationships and partnerships with universities and talent-hunting organizations; full-time internship and diversity programs; and marketing and referral strategies to reach a broader pool of suitable candidates. Identifying and recruiting high-quality talent is the first step in best-in-class HCM (Gambardella, Panico, and Valentini 43).

Once intended talent has been recruited, the second component of efficient HCM is the onboarding, support, and development of personnel. Onboarding new staff is critical to establishing and sustaining cultural fit. Furthermore, it lessens the anxieties of existing and new staff as roles are clarified and relationships are encouraged (Miller, Xu and Mehrotra 937). Once the integration has been objectively ascertained, it is incumbent on businesses to support and develop personnel. Competence management is accomplished through ongoing learning (i.e. training and education) and constructive feedback.

Providing leadership, management, and operational training demonstrates a commitment to the corporation’s personal growth and sustainably advances corporate culture. On the other hand, periodic talent reviews, goal management, responsive feedback foster a culture of excellence and maximizes individual performance. The core denominations of personal rewards are compensation, equity, benefits, and career mobility. These means of support and reward motivate talent (Morris et al. 913). While ideally executed on a person-by-person basis, a predictable reward system enables talent to decisively plan around business goals.

Importantly, monetary— and equity-based compensation are evident and are managed through payroll administration; however, investments to meet employee wellness needs are equally crucial to HCM success. Corporations should have streamlined and well-costed wellness programs such as childcare initiatives for employees with young families and on-site services such as medical services and fitness facilities (Ployhart et al. 381). Designing these initiatives requires a coordinated leveraging of both technology and workforce analytics on an enterprise-wide scale.

HR technology tools are innumerable, but in a fast-paced globalized workforce, are a force multiplier of the corporate people strategy. Compassionately designed HCM strategies and processes attract high-quality talent, enhance talent development, mitigate human resource risks, and accelerate workforce performance.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(Human Capital Management Essay Example | Topics and Well Written Essays - 500 words, n.d.)
Human Capital Management Essay Example | Topics and Well Written Essays - 500 words. https://studentshare.org/human-resources/1893838-human-capital-management
(Human Capital Management Essay Example | Topics and Well Written Essays - 500 Words)
Human Capital Management Essay Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/human-resources/1893838-human-capital-management.
“Human Capital Management Essay Example | Topics and Well Written Essays - 500 Words”. https://studentshare.org/human-resources/1893838-human-capital-management.
  • Cited: 0 times

CHECK THESE SAMPLES OF Human Capital Management

Summary and analysis (The seven deadly sins of outsourcing) article

Outsourcing certainly touches upon the Human Capital Management issues.... Overlooking the hidden costs of outsourcing: Different types of costs like management of the venture, search and contracting costs, HR costs etc are also to be looked into.... Failing to plan an exit strategy: Company and its management must be prepared for an exit strategy as well, in case of emergency like situations.... The moment company employees come to know about any such move from the management, they start becoming apprehensive about their future with the company....
2 Pages (500 words) Essay

IBM's workforce management initiative(WMI)

he IBM's Workforce Management Initiative (WMI) is basically an approach to the Human Capital Management which would make the company a global integrated enterprise whose operations cut across wide geographical areas and which placed various value creation processes in a worldwide arena that optimized their productivity and efficiency (Boudreau 2010).... It also offers… As at December 2011, IBM was ranked the third-largest publicly traded technology company in the world by market capitalization. The IBM's Workforce management Initiative Running head: Nature and impacts of IBM'S workforce management initiative (WMI)....
2 Pages (500 words) Essay

Productivity in Workplaces

"Human Capital Management: Satisfied Employees are Productive Employees.... Productivity in the workplaces has become every manager's concern over the years, since, as Ropella highlights, employee happiness or satisfaction is the foundation of creating value to the customers.... This is because, productivity in the workplace is an input of both the… Moreover, Kjerulf highlights that happiness and satisfaction of employees is the main efficient method that can be used to increase employee's productivity at work....
2 Pages (500 words) Essay

FEMA Could Enhance Human Capital Management

This report “FEMA Could Enhance Human Capital Management” had ample information on the objectives, organizational structure, roles and responsibility of FEMA.... The report fails to provide practical recommendations to enhance the benefits of FEMA by incorporating a better Human Capital Management structure and employee training.... Disaster Assistance Workforce: FEMA Could Enhance Human Capital Management and Training.... The aim of this report was to highlight the actions recommended by GAO in respect to the hiring, training, and management....
1 Pages (250 words) Essay

Harvard Reflection Paper - The definitive Guide to Recruiting in Good Times and Bad

Nitin Nohria, Boris Groysberg and Claudio Fernández-Aráoz besides their immense knowledge, they also hold diverse… This has prompted them to act as consultants where they have helped numerous global corporations' CEOs concerning Human Capital Management.... For example, Claudio The definitive Guide to Recruiting in Good Times and Bad Keywords: Employee, Management, Organizations, Interview, Recruitment, Knowledge, Human Capital Management 1.... This has prompted them to act as consultants where they have helped numerous global corporations' CEOs concerning Human Capital Management....
2 Pages (500 words) Essay

Db2 employment recruitment and select

(2003) A Model of Strategic Human Capital Management, Philadelphia: DIANE Publishing.... They usually are definite on what duties they are to perform.... They are categorized as either essential or non essential functions.... Essential functions usually involve those integral parts of… They are necessary and are involved in day to day duties, Williamson (1993) it is necessary since those involved are highly trained and equipped with knowledge in performing the set duties....
1 Pages (250 words) Research Paper

Declining Confidence in Government

Most people believe that there has been a decline in government over the years.... This argument was obtained from various studies that revealed that individuals have more trust in the state governments and… This is because they believe that the government is not making the right decision in most of the action it takes....
5 Pages (1250 words) Essay

Empowerment & Strategic Workforce Management

A model of strategic Human Capital Management.... There should also be a performance rating system in the organization which will ensure that EMPOWERMENT AND STRATEGIC WORKFORCE management Empowerment and Strategic Workforce management For reward, benefits and employee development systems to be of importance to a business organization they should always be aligned to the business.... The relationship between quality management, organizational learning, and organizational performance....
2 Pages (500 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us