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Unformatted text preview: © Copy Right: Rai University 11.236 295 M A N A G I N G P E O P L E Conclusion by Rama Krishna Originally published in dqindia.com, 17 October, 2002. Dear students, we conclude our discussions on managing people by this following excerpt by Rama Krishna. It is presented as follows, happy reading. • Mingle with the employees, stop and talk to them... Most important, listen to what they have to say. For that’s how you can get the best out of your people . Every day, organizations struggle to find additional means of gaining competitive advantage. Products can be copied, promotional campaigns can be mimicked, and even technological innovations can be imitated. The only real source of sustainable competitive advantage for an organization is the power of its people.HR is fast shifting from being activity-based to playing a strategic role. It is time HR learnt from the business side, donned the intra- preneurial hat and captured imagination, to garner mindshare as well as internal customer loyalty. We need to view people not as mere resources but as assets/capital. This fresh perspective brings forth the need for a human capital strategy.Capital is typically defined as produced commodities, which are used in the production of other goods and services. Every organization needs this ‘talent’. So, how do we inspire them to apply or even consider what we have to offer? They would, most of the time, not even look at a single advertise- ment, except maybe for a cursory glance. Human Capital is defined as the aggregation of the innate abilities and the knowledge and skills that individuals acquire and develop throughout their lifetime. The former represents a potential, which is received free of cost by individuals (and organizations as a whole), while the latter is the actualization of this potential mostly through individual efforts involving a cost.Both components enhance the productivity of individuals in the production of goods, services and ideas within market as well as non-market environments. The elements of human capital: Employer branding The war for talent is every recruiter’s nightmare. And winning wars is about planning and strategy. As organizations spend huge amounts of money running advertisements and conducting interviews, doesn’t that mean we are interviewing similar candidates? And are these the right kind of candidates? The one’s who are doing good work, are well recognised and are comfortably working in good companies.Every organization needs this ‘talent’. So, how do we inspire them to apply or even consider what we have to offer? They would, most of the time, Contents: Excerpts from an article by RaamaKrishna LESSON 38: CONCLUDING FOR MANAGING PEOPLE not even look at a single advertisement, except maybe for a cursory glance. Employer branding is one of the essentials of a well-thought-out Human Capital Strategy. The exercise need not require truckloads of money, but some innovative thinking....
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- Spring '10
- Management, Candidate, Rai University, Rama Krishna