Types of Employees based on Level of Engagement
An organisation is a collection of individuals who come together and work towards the realisation of a common objective. Larger the number of people working together, larger is the size of the organisation and vice-versa. However, for an organisation to flourish it is important for the employees to operate at their full potential, which unfortunately […]
Some Perspectives on Differing Reward Systems for Entrepreneurs/Owners and Employees
Differing Reward Systems and their Consequences The debate over whether entrepreneurs/owners should be rewarded at multiples that exceed those for the rank and file employees has been raging for some time now. What has added fuel to the fire in recent years has been the issue of executive compensation and shareholder rewards when compared to […]
Job Evaluation – Meaning and its Benefits to the Organization
Job evaluation is a process of determining the relative worth of a job. It is a process which is helpful even for framing compensation plans by the personnel manager. Job evaluation as a process is advantageous to a company in many ways: Reduction in inequalities in salary structure – It is found that people and […]
Innovation According to Peter Drucker
Innovation according to Peter Drucker Innovation is the buzzword among many companies operating internationally as well as in the domestic economy. Increasingly, the ability of an organization to innovate is being seen as a source of competitive advantage. The well known management expert, Peter Drucker throws light on the “sources of innovation” as well as […]
Competency Based Assessment and Organizational Processes
We have explored quite comprehensively the objective and process of competency based, now we come to the point where it would be interesting to explore how competency based assessment can be linked to organizational process and how it can influence the traditional methods. Let us begin with the starting step of the employee’s life cycle […]
Human Capital Management is defined as a process that ensures the right candidate is hired for the right job, trained form time to time, managed well and also retained in the organization.
Human Capital management makes the best possible use of skills and experiences of employees and motivates them to deliver their level best. Human Capital management helps in extracting the best out of individuals, eventually benefitting the organization and yielding higher profits.
Human Capital Management helps human resource professionals to hire the best available talent.
Common resource pool constitutes group of individuals ready to take up new opportunities. Common resource pool includes a pool of talent from diverse backgrounds, multi skills and varied experiences.
In simpler words, Common resource Pool is a group of people from which human resource professionals hire employees for an organization. It is the responsibility of human resource professionals to recruit employees as per the requirement in the organization from the common resource pool often abbreviated as CRP. Common resource pool helps in the staffing of teams.
According to common resource pool model, human resource representatives are assigned the responsibility of hiring the right talent from common resource pool. You need to find out who would be the best fit among the available resources for your organization. Job responsibilities should be clearly defined. Analyze the background, past experience, educational qualification, interests, before hiring an individual. Do not forget to check his/her credibility in the past organizations.
Human resource professionals must discuss with the senior management to understand as to what they expect from their team members. Try to read their minds. Do not hire just for the sake of it. It will land you in trouble later on. You are the one who would be held responsible.
Resource Pool accumulates human capital experiences, skills, as well as their roles in line with the needs of organization. Resource pool refers to an exhaustive database of human capital with their educational qualifications, past experiences, specializations, expertise for human resource professionals to do hiring for the organization.
Common resource pool minimizes the chances of duplication thus making the work of individuals representing human resource vertical much easier. Resource pools also help human resource professionals in identifying resources or skills that are in less numbers and for which supply must increase.
Common resource pools not only include full time employees but also employees who are on contracts, part timers, freelancers and so on. Whether a full time employee or a freelancer should be hired, depends on the project and the size of organization.
Full Time Employees - Full time employees are individuals who work for a minimum number of hours as defined by the policies of the organization.
A full time employee enjoys the following benefits:
Part timers - Part timers are individuals who work for only few hours less than the standard time.
Freelancers - A freelancer is an individual who has the liberty to choose his working hours as per his/her own convenience. He is not committed to a particular organization.
Common resource pool model makes, managers more efficient as compared to team members. Common resource pool model highlights the importance of skills, knowledge and background of human capital who are the key drivers of projects.
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The Age of Oversupply: Why the Future Would be Demanding on the Present Generation
February 12, 2025
