HR Challenges – How to cope with them efficiently ?
Human Resource Management used to be considered as other conventional administrative jobs. But over a period of time, it has evolved as a strategic function to improve working environment, plan out human resources needs and strike a balance between the organization and employers in order to increase organizational productivity and meet organizational goals. Not to […]
Improving Access to Finance for Young Entrepreneurs
Youth Entrepreneurship development calls for support from various quarters. Primarily the need exists to initiate a Youth Entrepreneurship culture and drive amongst the youth in the society. The youth needs to think and aspire to be entrepreneurs and explore their potentials to the maximum. At the second stage, Youth Entrepreneurship nurturing calls for promoting awareness […]
Policies on Hiring Couples and Relocation Assistance
Recent studies have shown that many employees are less willing to accept relocation offers from their employers. The most important factor related to their willingness to relocate is their spouse’s willingness. Couples prefer working in the same city once they get married and in rarest of the rare cases they are willing to move. It […]
How to Project Yourself as a Brand by Using Strong Keywords and Updating the Profile Periodically
Before we begin with the topic, we need to understand few pointers such as what is branding? How would you brand yourself? What are those keywords and how to utilize them to create a strong brand presence? These are some questions which need to be clarified before we proceed. Branding: Branding yourself is a technique […]
Hybrid Model of Human Capital Management
As the name suggests, hybrid model of human capital management is a mix of common resource pool model and unique skill set model. In hybrid model, employees are multiskilled and have diverse set of experiences and backgrounds. Hybrid model employees come from varied backgrounds and have a generalist profile. In a layman’s language hybrid model […]
Human Capital Management refers to the management of an organization’s employees for them to contribute significantly in the overall productivity of organization. Every employee tries his level best to utilize his knowledge and skills to benefit his organization and become an indispensable resource in due course of time.
Human Capital Management Drivers act as catalysts for an effective human resource management.
Human capital management drivers fall into five major categories:
HCM Practices
Communication: Employees must be treated well for them to develop a feeling of attachment and loyalty towards the organization. Managers must understand that their role is not just to sit in closed cabins and impose ideas on others. They ought to communicate well with their subordinates. Employees must have an easy access to the senior management. Communication from management to employees also known as Top down communication is essential for the employees to be aware of their goals and objectives and for them to know what is expected out of them.
Inclusiveness: Management ought to sit with employees on a common platform to invite suggestions and feedbacks from them.
Supervision: Senior executives and management must reduce the various levels of hierarchy between them and employees’. Management must interact and motivate the employees from time to time for them to give their level best.
Leadership: Senior executives should support, lead and influence the workforce so that they contribute effectively towards the organization.
HCM Practice
Key Responsibility Areas: Key responsibility areas of an individual should be designed in line with his education, skills, expertise, experience and also area of interest. This way, work never becomes a burden for him.
Commitment: Outstanding efforts of employees must be acknowledged for them to feel motivated and work harder even next time. Employees performing well ought to be suitably rewarded and appreciated in front of others.
Time: Time management ensures that no employee is overburdened. Responsibilities must be equally shared among employees.
Evaluation: Employee engagement must be evaluated from time to time by the top management.
HCM Practice
Information Availability: Employees must have an easy access to all relevant information required to perform their duties. Organizations must organize various training programs (In house Trainings or Out sourced trainings) to constantly upgrade the existing skills of employees and acquaint them with new learnings.
Team Work: Employees must be motivated to work in teams rather than working alone.
Information Sharing: Encourage employees to share information with each other.
Human Capital Management (HCM) Practice
Work processes: Senior management must define work processes of employees well for maximum productivity.
Working Conditions: An organization needs to provide excellent working conditions to the employees to expect the best out of them.
Accountability: Individuals must be held accountable for their work. Get a commitment from employees and nothing like it, if everything is in writing.
Hiring: Individuals responsible for talent acquisition must ensure that they hire the right candidate for the right role. Design a strong induction program for all the newly joined employees.
Performance Management: Employee’s performance needs to be strongly monitored and managed.
HCM Practice
Innovation: New ideas should be welcome. Employees must be encouraged to come out with new and innovative ideas which might benefit the organization.
Training: Trainings must be practical/relevant and designed to sharpen the skills of employees. Do not design training programs just for the sake of it. They must benefit the employees.
Career Development: Employees must be aware of their growth plan in the organization.
Learnings: New learnings should be valued by all in the organization.
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The Age of Oversupply: Why the Future Would be Demanding on the Present Generation
February 12, 2025
