Human Resource Management Strategies to Diversify the Workforce
HRM Strategies to Promote Diversity can Enhance Organizational Effectiveness A diverse enhances organizational effectiveness by creating a culture of plurality and tolerance that promotes collective decision making through multiple viewpoints that can be used for better decision making. Thus, the HRM or the Human Resources Management strategies must include end-to-end capabilities that promote diversity. This […]
Choosing the Right Business School and Major in the Course
An important decision that confronts all aspiring management graduates is about the kind of business school that they would want to join after clearing the entrance procedures. This decision must be taken after due diligence is done on the various business schools and after careful thought has gone into the selection process. There are many […]
Objective Setting and MBO-SMART Objectives
Defining the performance objectives can be very useful as it defines the performance expectations. Objectives which are written down and are verifiable can be far more useful if they are SMART in nature which means Specific, Measurable, Achievable, Realistic and Time Bound. Many organizations set goals and objectives through a formal process known as Management […]
Pay Cuts vs. Lay-Offs
Recessions and downturns are part of a normal business cycle. When business is booming, corporations tend to hire more people than they need. This is the reason why these same corporations are later forced to lay off some of their employees during periods of recession. However, layoffs are seen as being inherently negative. Companies that […]
What is Ghosting and How it Disrupts the Hiring Process and Ways to Tackle this Menace
What is Ghosting and Why it has Become a Serious Problem for All Stakeholders We often hear the term, Ghosting, in Human Resources or HR Literature and Practice used in context of how jobseekers who have been recruited or called for interviews not showing up either on the joining date or leaving without completing the […]
Human Capital Management is defined as a process that ensures the right candidate is hired for the right job, trained form time to time, managed well and also retained in the organization.
Human Capital management makes the best possible use of skills and experiences of employees and motivates them to deliver their level best. Human Capital management helps in extracting the best out of individuals, eventually benefitting the organization and yielding higher profits.
Human Capital Management helps human resource professionals to hire the best available talent.
Common resource pool constitutes group of individuals ready to take up new opportunities. Common resource pool includes a pool of talent from diverse backgrounds, multi skills and varied experiences.
In simpler words, Common resource Pool is a group of people from which human resource professionals hire employees for an organization. It is the responsibility of human resource professionals to recruit employees as per the requirement in the organization from the common resource pool often abbreviated as CRP. Common resource pool helps in the staffing of teams.
According to common resource pool model, human resource representatives are assigned the responsibility of hiring the right talent from common resource pool. You need to find out who would be the best fit among the available resources for your organization. Job responsibilities should be clearly defined. Analyze the background, past experience, educational qualification, interests, before hiring an individual. Do not forget to check his/her credibility in the past organizations.
Human resource professionals must discuss with the senior management to understand as to what they expect from their team members. Try to read their minds. Do not hire just for the sake of it. It will land you in trouble later on. You are the one who would be held responsible.
Resource Pool accumulates human capital experiences, skills, as well as their roles in line with the needs of organization. Resource pool refers to an exhaustive database of human capital with their educational qualifications, past experiences, specializations, expertise for human resource professionals to do hiring for the organization.
Common resource pool minimizes the chances of duplication thus making the work of individuals representing human resource vertical much easier. Resource pools also help human resource professionals in identifying resources or skills that are in less numbers and for which supply must increase.
Common resource pools not only include full time employees but also employees who are on contracts, part timers, freelancers and so on. Whether a full time employee or a freelancer should be hired, depends on the project and the size of organization.
Full Time Employees - Full time employees are individuals who work for a minimum number of hours as defined by the policies of the organization.
A full time employee enjoys the following benefits:
Part timers - Part timers are individuals who work for only few hours less than the standard time.
Freelancers - A freelancer is an individual who has the liberty to choose his working hours as per his/her own convenience. He is not committed to a particular organization.
Common resource pool model makes, managers more efficient as compared to team members. Common resource pool model highlights the importance of skills, knowledge and background of human capital who are the key drivers of projects.
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The Age of Oversupply: Why the Future Would be Demanding on the Present Generation
February 12, 2025
