How to be a Good Leader – What makes Leadership Effective?
Leadership is a significant aspect of management. In order to ensure organizational success, co-operation from subordinates as well as greater efficiency, it is important for a manager to be a great, effective and a true leader. An effective and true leader is one who does not put himself before others. He/She is very humble, deferential […]
Difference between Communication and Effective Communication
Boss to his employee -“I want you to bring the file to my table”. The boss left the poor employee confused as he forgot to mention the name of the file and the employee also didn’t bother to ask his boss. The boss did communicate to his employee but the message was not clear to […]
Performance Appraisal Process
For many employees working in the organized sector, the term appraisal process conjures images of hope and fear simultaneously. Hope for a better grade and fear about potential downgrading or a bad rating. The weeks leading up to the appraisal are filled with hectic activity when the employees get down to evaluating themselves and prepare […]
A Comparison between Shareholder Ownership and Control
In previous articles, we discussed the roles and responsibilities of the shareholders. In this article, we look at the distinction between shareholder ownership and control and illuminate how this comparison plays out in the corporate world. To start with, many public limited companies have a large body of shareholders who have invested in the company […]
Fredrick Taylor View on Processes
Fredrick Taylor was one of the earliest thinkers in the field of business process management and also one of the most controversial figures. Some regard him as the guru who gave the world a new paradigm called scientific management while others (especially labor unions) regard him as the mastermind who created conditions suitable for 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
