The role of human resources professionals in a company is multi-faceted as there is a plethora of tasks that they have in their hands to fulfill, but, the chief function that makes HR professionals critical to an organization’s success is Human Capital Management.
For those who do not know, Human Capital Management is a blend of actions linked to people resources management, majorly in the segments of workforce acquisition and management, as stated by Gartner. Human capital has become a top priority for organizations, especially those that acquire ‘knowledge workers’ because, for them, employees are their most valuable assets.
These days, organizations bear heavy costs for maintaining their personnel. As a matter of fact, money spent on staff has become the biggest budget items for most businesses. Consequently, the role of human resources professionals has moved from core administration to more integrated and strategic duties that are focused towards accomplishing the overall objectives of an organization.
In the changing business dynamics and high-intensity competition among firms, it has become a strenuous job to accomplish successful Human Capital Management. Here are a few points shared by HR professionals to assist people in getting their HCM activities in place.
Most HR practitioners do not possess a vision of focusing beyond the recruitment and onboarding process. They are more inclined towards hiring and overlook the needs of the current employees.
As per HR experts, there has to be a range of engagement activities that must target the whole employee life cycle as keeping the staff happy and satisfied is what makes a company grow further. There should be a major focus on keeping the functions of learning, recognition and review more engaging and entertaining.
There is a deep need for HR professionals to take a more personalized approach when it comes to managing each and every employee of the company. Leaders of the HR realm believe that it is always advisable to take into account the unique personalities as well as preferences of the personnel in order to make them feel valued and manage them efficaciously.
To give an instance, a staff member who is emotion-based might require more attention and an exclusive relationship as compared to another employee who owns a thought-based characteristic.
Nowadays, technological advancements have pervaded every function of business and this is the time for HCM to become technologically forward as well. Welcoming contemporary technology is the most effective way to lead the human capital management of a firm towards utmost success.
It is a great methodology for HR professionals to get more involved in the lives of the employees as by automating procedures through a wise utilization of technology, they have more time in their hands to interact with the staff. And, a healthy conversation between the HR and the company’s employees is a good sign of engagement.