HUMAN CAPITAL STRATEGY

How do you manage talent?

Maintaining records Auditing and controlling Serving as human resource service provider Developing HR systems and practices How do you engage in strategic business activities? Do you: Help identify or design strategy options Help plan implementation of strategy Help identify new business opportunities Assess the organizations readiness to implement strategies Help design the organization structure to implement strategy Assess possible merger, acquisition or divestiture strategies Work with corporate board on business strategy What is your HR strategy?

A data-based talent strategy A human capital strategy integrated with business strategy A provider of analytical support for business decision-making A provider of HR data to support change management A driver of change management

The author of rigorous data-based decisions about human capital management How well do you measure HR effectiveness? Do you measure efficiency by:

Measuring the financial efficiency of HR operations such as cost-per-hire, time-to-fill or training costs Collecting metrics that measure the cost of providing HR programs and processes Benchmarking analytics and measures against data from outside organizations Do you measure effectiveness by: Using HR dashboards or scorecards Measuring the specific effects of HR programs such as, learning from training, motivation from rewards or the validity of tests

Having the capability to conduct cost-benefit analyses of HR programs Do you measure impact by:

Measuring the business impact of HR programs and processes Measuring the quality of the talent decisions made by non-HR leaders Measuring the business impact of high vs. low performance in jobs

PERFORMANCE APPRAISAL
The formal systematic assessment of how well employees are performing their jobs in relation to established standards and the communication of that assessment to employees.

POTENTIAL APPRAISAL
The potential appraisal refers to the appraisal i.e. identification of the hidden talents and skills of a person. The person might or might not be aware of them. Potential appraisal is a future oriented appraisal whose main objective is to identify and evaluate the potential of the employees to assume higher positions and responsibilities in the organizational hierarchy.

FEEDBACK
Feedback is the primary tool used to provide employees with information and guidance. Feedback consists of two-way communication.

Performance Coaching
Coaching, in its simplest form, means to train, tutor or give instruction. It is an excellent skill that can be used to enhance growth and performance, as well as promote individual responsibility and accountability. Performance coaching is an ongoing process which helps build and maintain effective employee and supervisory relationships

TRAINING
Training is the process for providing required skills to the employee for doing the job effectively, skillfully and qualitatively. Training of employees is not continuous, but it is periodical and given in specified time.

Mentoring
Mentoring is usually a formal or informal relationship between two peoplea senior mentor (usually outside the protgs chain of supervision) and a junior protg. Mentoring has been identified as an important influence in professional development in both the public and private sector.

CAREER PLANNING
Career planning and development is a means by which an organization can sustain or increase its employees productivity and at the same time preparing them for a changing world. Career planning assists in finding those employees who could be groomed for higher level positions, on the strength of their performance.

OD or SYSTEMS DEVELOPMENT
Organizational development is a planned process of change in an organizations culture through the utilization of behavioral science technologies. OD is a long term effort, it is led and supported by the top management to improve the organizations visioning, empowerment, learning and problem solving processes, through ongoing, collaborative management or through organizational culture with special emphasis on the culture of intact work teams and other team configurations.

REWARDS
Performance is concerned with results. To reward people in the organization and also to retain employees within the organization one of the best methods is by linking compensation with performance.

EMPLOYEE WELFARE
Employee welfare is a term including various services, benefits and facilities offered to employees by the employers. The welfare measures need not be monetary but in any kind/forms. This includes items such as allowances, housing, transportation, medical insurance and food. Employee welfare also includes monitoring of working conditions, creation of industrial harmony through infrastructure for health, industrial relations and insurance against disease, accident and unemployment for the workers and their families. Through such generous benefits the employer makes life worth living for employees.

QUALITY OF WORK-LIFE
Quality of Work Life is becoming an increasingly popular concept in recent times. It basically talks about the methods in which an organization can ensure the holistic well-being of an employee instead of just focusing on work-related aspects. It is a fact that an individuals life cant be compartmentalized and any disturbance on the personal front will affect his/her professional life and vice-versa.

HRD STAFFING
It is said that HRM is a line mangers responsibility but a staff function. Since management is getting things done through and with people the responsibility of manageing people rests with the line managers. The HR department provides specialized advice, assistance and information to line executives so that they may concentrate on their respective functions.

HRD CLIMATE
HRD stands for Human Resources Development in a business or an organization. Climate meant the atmosphere in the company, especially a supportive atmosphere that allows staff members to develop their skills for the benefit of the company.

HRD AUDIT
An HRD Audit is like a weekly/ montly/ annualy health checkup ,it plays a vital role in instilling a sense of confidence in the Management and the HR functions of an organisation. HRD Audit is a comprehensive evaluation of the existing HRD Structure, Strategies, Systems, Styles,Skills / Competencies & Culture and their appropriateness to achieve the short-term and long-term goals of the organisation

HRD SCORECARD
The HR Scorecard can provide a very useful framework for measuring HR. It can also seriously confuse HR strategy development, and communication of this strategy with business stakeholders. The difference between these two results comes down largely to the perspectives that are chosen to from the scorecard.