Emergence of International Retailing
The growth of international retailing business has been a field of study by the academic researchers for the past four decades. Various academicians like Alexander and Kacker have been trying to understand the factors that led to the development of internationalisation of retail business since 1990s. By international retailing we are referring to both the […]
Exchange Rate Regimes
International trade is a vital component of the economy of any nation. Also, international trade is highly dependent upon exchange rates. It is for this reason that the choice of the type of exchange rate regimes is very important. To a layman, all exchange rate regimes might appear to be similar. However, the reality is […]
The Global Village: Media in the 21st Century
The legendary media theorist, Marshall McLuhan, coined the term “The Global Village” to indicate the mass production and the mass consumption of media images and content across the world. The term denotes the coming together of the countries of the world in one gigantic web of media landscapes. To take an example, the popular US […]
Sensation and the Sensory Organs (Vision and Audition)
With the help of our senses we are able to make sense of the world we live in. The study of sensation or senses is crucial from the point of view of psychology as because of it consciousness is possible. Let us understand the role played by different sense organs in the process of sensation. […]
Roles and Responsibilities of a Store Manager
Retail Store A fixed set up or location offering merchandise in small quantities to the consumers for their end-use is called a retail store. Store Manager An individual responsible for managing the overall functioning of the store is called a store manager. A store manager takes care of the day to day operations of the […]
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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Current Employment Trends and Their Implications for Business, Society, and Individuals
February 12, 2025
