MANAGING HUMAN CAPITAL

Managing Human Capital



Contents

List of Figures3

Introduction4

Human Resource Leadership and Management5

Mentoring and Leadership7

Training and Development in Organizations8

Talent Management Strategy and Career Development Opportunity10

Talent Management Factors in Career Development12

Compensation13

Effects of Pay13

Performance Management and Appraisal14

Discipline and Grievances15

Empowerment16

Training and Development Opportunities and Employees16

Conclusion17

References19

Bibliography20

List of Figures

Figure 1: Career Adaptability

Figure 2: Career Development

Managing Human Capital

Introduction

The management and leadership of human resources is one of the most pressing and important concerns for all organizations. Organizations are only as good as the individuals that compose them and leadership and management skills that shape and direct those individual contributions. The management of human resources is even more pressing in the non-profit sector because of the importance of the missions that non-profit organizations serve. Discussions regarding the link between HR and strategy have long been evolving. Due to complexities of global competition, diversification, and total quality management, HR management was seen as something that needed to be consistent across the firm and aligned with the firm's strategy.

The key objective of HR strategy is to guide the process by which firms develop and deploy people, relationships, and capabilities to enhance their competitiveness. Interestingly, this objective has not changed much over time, rather the context and environment in which firms are operating has changed. While our purpose here is not to discuss the evolution of markets and work environments, a discussion void of these considerations would be detrimental in understanding how HR strategy has and continues to evolve. Such an evolution, as we see it, has been beneficial to the overall productivity of firms as well as the overall value of the individual inside the firm. However, there are few jobs that are inherently having 'dead end'. These jobs do not create inspirations for employees or raise their motivation level. Instead, an employee certainly tends to stay on the just to manage his household expenses. This raises concern whether management of every firm should have a talent management strategy or leave the career development plan to employees. This paper aims at examining the different aspects that define the goal-oriented approach of employees towards their career development and what role management can play in enhancing their motivation level towards the job. (Creed, 2009, 229)

Strategic HRM has identified a number of factors that increases the job satisfaction level of an employee and subsequently his motivation level. A review of the literature on contemporary human resource practices provides a wealth of information about individual practices that derive the motivation level of an employee. These factors include performance feedback, incentive system, pay scale, participation in goal setting, job design, etc. Additionally, organizational practices such as the formation of high performance work systems have a significant impact on the firm's performance. However, this raises concern on what approach management should adopt to retain the quality human resource, and enhancing their capabilities and competitiveness.

Human Resource Leadership and Management

The idea of a formal human resource management department is often associated with large organizations that have many employees and with formalized processes for benefits and ...