Human Capital Planning
The Key to Success
It is true. People are an organization's most valuable asset, and planning for this resource is of equal importance. Whether starting up a small business or reviewing an existing personnel system, thorough Human Capital Management pays off in reduced turnover and improved employee satisfaction.
In today's changing workplace, Human Capital Planning and Development has become even more critical. The traditional employment and personnel practices often have not kept pace with the educational level and changing values of today's workforce. Increased technology and expectations have led to improved HR methods. In the area of recruiting, for example, alternate employment methods are providing more reliable and more motivated employees to enlightened organizations. Job fairs, selected web sites, outplacement programs from declining industries, focused interviews and trade association placement services are yielding more targeted results than "shotgun" advertising or expensive headhunting contracts.
Organizations concerned with the exorbitant costs of turnover demand a more focused approach than merely "filling" a position with a match between an individual's skills and an accurate job description. Employers know that qualities such as teamwork, flexibility, and innovation are often more important than strictly technical skills. Once the appropriate skill set has been determined, the organization can focus on obtaining and developing those skills. Unfortunately some qualities are difficult to ascertain from a résumé or interview. In those cases, more sophisticated techniques such as psychological tests or assessment centers, are used to produce employees whose values will match those demanded by the workplace.
Planning for Human Capital Management doesn't stop with the hiring process. To
motivate and retain today's mobile employees requires more than personnel
policies and benefits. Once on board, workers need to be "bonded" to the
organization with enlightened management and HR techniques. Other tools such as
competency analysis, meaningful performance appraisals, mentoring, career
development, worker involvement programs, employee surveys, and succession
planning are key elements of a sound Human Capital Development program.
Successful management of today's workforce requires innovative and knowledgeable
HR managers. Working in conjunction with the existing staff, Organizational
Assessment & Development can help in any or all of the following ways:
Are you interested in learning more about how we could help enhance your human capital investment? Call us at 540.635.4466 or send us E-mail.
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