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FDELACERNA BM 212 Human Resource Management and Development.docx

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University of CebuGraduate SchoolMain CampusSanciangko Street, Cebu CityName:FAYE KARIE M. DELA CERNADate:October 23, 2021Course:BM 212 Human Resource Management and Development1. Explain human capital management and the components of human capital.(10 points)Managing employees so they can significantly contribute to the overallproductivity of an organization is known as human capital management. To put itanother way, managing a company's workforce is a form of human capitalmanagement (HCM). For the purposes of an organization's processes, HumanCapital Management (HCM) is defined as the process of bringing new employees onboard, training them, managing them, and keeping them around. Human capitalmanagement can be defined as the process of improving an employee's existingskills while also getting the most from him or her. These strategies must have thefollowing five components to be effective:First isClarity in Human Capital Goals. There must be clarity in theorganization's human capital goals to know how far they lag behind the desired state.As a result, setting human capital goals that improve employee productivity andmake them feel more connected to the organization can be beneficial. Retaininghardworking employees, developing the workforce’s skills continuously, creatingrealistic induction programs for new hires, and hiring the best applicants are some ofthe human capital goals. The second isClarity in Direction. Having a clear sense ofdirection is the second most important thing. This crucial element necessitatesgetting to know a company from the inside out. To achieve a concise and clearstrategic focus, one must understand senior management, customers, stakeholderexpectations and requirements, an organization's vision, budgetary constraints, andthe needs of current employees. This requires companies to gather information fromtheir employees, customers, and other stakeholders to understand their goals andexpectations better. Talking about these issues will assist a company and itsemployees in defining its overall vision. A practical analysis may include examiningthe future goals and aspirations of current employees and the company as a whole.This type of research can assist organizations in identifying any systemic flaws orgaps. The third is anAccountability System. There is a system in place for holdingpeople accountable. No strategy or process is ever truly successful unless it isproperly managed. Keeping tabs on progress is critical. Measuring the failure andsuccess of a plan implemented is part of an accountability system. It also aidsorganizations in identifying any plan flaws and figuring out how to fix them.Organizations will have no idea if their strategic management plan is working if thereis no accountability system in place. AFoolproof Implementation Planis the fourthstep. The steps and actions required to implement human capital strategies areoutlined in an implementation plan. Allocating a responsible resource, budgeting, andsetting a deadline for implementing human capital plans are all part of successfulimplementation plans. Clarity is critical throughout a human capital managementplan, and this holds true for every component. Create a strategy and goal
implementation plan that is easy to understand. The fifth component is calledStrategies and Policies to Achieve Goals. Once objectives and goals have been

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Term
Spring
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Tags
Human Resource Management, University of Cebu, Human Resource Management and Development, Human Capital Planning

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