Mexico: The Auto Hub of the World
Bavarian Motor Works (BMW), which is a world famous car manufacturing company, has now set up its plant in Mexico. The company plans to use this plant to manufacture more of its famous 3 series vehicles. The unique thing about this plant is that it has been set up despite Trump’s constant blackmail to automobile […]
After Effects of Poor Employee Relationship Management
The relationship among the employees plays an important role in deciding the fate of the organization. Employees must respect each other and come to each other’s help whenever required and look forward towards achieving the organization’s targets. If the employees do not enjoy a healthy relationship among themselves, problems are bound to arise and ultimately […]
Five Reasons Why Real Estate Increases in Value
Real estate is probably the single largest investments in the portfolio of every family across the globe. Most middle class families invest the maximum amount of money in their residential homes. In many parts of the world, this belief has been reinforced by the fact that houses have exponentially risen in value. Stories of 100 […]
The future of relationship marketing
Introduction Relationship marketing is a modern concept. This concept focuses on developing, maintaining and retaining long term relationship with customers for the benefit of the organization. Relationship marketing is a strategic concept which needs to be accepted throughout the organization and key to the future financial success. In the last couple of decades with the […]
What is Blind Hiring and How it Promotes Diversity and Inclusivity Efforts in Corporates
How a Typical Hiring Process Works and Why the Hidden Identity Markers Matter Typically, the hiring and recruitment process in corporates entails receiving resumes for the advertised openings, short listing some of them for the next round of tests and interviews, the actual interview process, and then, the decision to hire or reject. In this […]
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
