The Importance of Data Driven Analytics and HR Scorecard Dashboards for Corporates
Data, Data Everywhere, But No Insights Yet Corporates generate much data on a daily basis that can include everything from data about performance of employees, payroll metrics, production figures, outage times, and just about any conceivable functions such as Sales and Marketing, Admin, HR, and the like. Of particular interest to corporates, and that too […]
Types of Employees based on Level of Engagement
An organisation is a collection of individuals who come together and work towards the realisation of a common objective. Larger the number of people working together, larger is the size of the organisation and vice-versa. However, for an organisation to flourish it is important for the employees to operate at their full potential, which unfortunately […]
Knowledge Management in the Information Age
Knowledge Management Systems and the Internet We are living in an information age that is characterized by increasing information about everything and anything available anywhere and everywhere. In this context, knowledge management has to be done in a structured and organized manner if redundancies and information overload are to be avoided. The point here is […]
Career Choices for the Present Times
The four career choices analyzed here are entrepreneurship, freelancing, sabbaticals, and regular full time employment. While all of these are attractive to different individuals, the bottom line for any career choice is how well you are able to support yourself and your families. In addition, feet on the ground approach is preferable as many career […]
Importance of Being Efficient at Workplace
Before we begin this topic, let us throw some light on the following example. Peter and John were best friends who did their studies together at Alpha management school (Just an example).They both got their first jobs in XYZ Organization as marketing executives. Within a span of five years, Peter was promoted as Vice President […]
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
