Introduction To Managing Human Capital Management Essay

innovation To Managing gentlemans gentleman Capital anxiety EssayIn super warlike modern military personnel, Managing tender-hearted Capital plays a pivotal occasion in organisational victor than ever before. The e really aspects of the human capital letter has changed drastic every(prenominal)y over time and now it is con alignred to be the most dominant and critical success calculates in achieving in risquely demanding and complex corporate objectives.Human Capital Management (HCM) crapper be set upd and interpreted in many ways but in simplest form it can be defined as the strategic approach to people guidance in creating sustainable and competitive value to the administrations and people itself. As sh birth in the prior sliding board, proper HCM strategy helps organizations to streamline and integrate with human resources with the personal line of credit to carry through stakeholder expectations by addressing entire human resource cycle.First of all, prope r HCM strategy helps organizations to come upon, recruit and retain pay off one-on-ones for the right lieus by enabling solid advantage over the competitive edge. as well as HCM focuses on effective employee intimacy by establishing effective intercourse channels and increase workforce productiveness by employee motivation and incorporating other strategies. Similarly, proper talent precaution, age planning, leadership victimisation and strategic alignment strategies to a greater extent or less defines the organizational success and well defined and planed HCM strategy is the pathway to compass it. creative activity to the CompanyKBSL Information Technologies Ltd (KBSL IT) is the leading Information/Systems Integrator of Information discourse Technology (ICT) solutions for Enterprises in Sri Lanka. KBSL has been in the constancy for almost 25 long time and it has the expertise in the beas of Server, Storage, Voice, Data Networks and Security Infrastructure Integrati on in providing a very sound and an optimal solution encompassing all relevant beas for customers, in meeting the circulating(prenominal) and growing requirements in property with industry trends. Currently, there ar to a greater extent than 75 highly knowing individuals employed at KBSL and it is steered by a very flat management team which consists of CEO, CMO and Head of headache Units.The vision of the KBSL is to become the leading wrinkle system integrator in Sri Lanka by future(a) the values of being fair and h iodinest in every engagement with customers and the shareholders delivering the most forward-looking solutions.KBSL is stovepipe poised to achieve its organization mission through their simplified focus and in delivering customers information demand, through flexible and powerful solutions, that are central to their business success.The Key Issues and Challenges veneer the General Management of Human Capital Globally and LocallyThey Key Issues and Challenge s veneer the General Management of Human Capital GloballyIn todays highly world(prenominal)ized, exceedingly competitive and dynamic business environments, managing human capital has become a global challenge for every manager in organizations. Referring to a survey grant by PricewaterhouseCoopers addressing the identify issues and challenges of human capital management of more than two hundred companies from 35 countries, it is noted that change management, leadership development and organizational strong point are the top three issues faced by the companies. Additionally, employee enlisting, retention and succession planning are withal considered to be important pain points of the managers in carrying out day to day business functions.Change management is highly important to address rapid changes imposed by the business environments such(prenominal) as mergers and acquisitions, dynamic changes in business strategy and focus, workforce mobility by managing the employees relu ctance to change in a verifying manner. Leadership development combined with the succession planning has also become a bulky challenge for the management since it has a direct impact on on-going and futurity business operations and success. As per the survey managing the organizational effectiveness is evenly important and organizations should review and restructure their entire organizational process and procedures to achieve success in topical anaesthetic and international market segments. Similarly recruitment and availability of skilled employees and retention is equally important and has become a serious global challenge mainly referable to aging workforce, unfledged younger generation and competitiveness and agility of the labor workforce.They Key Issues and Challenges facing the General Management of Human Capital in KBSL Information Technologies LtdTo identify the key issues and challenges facing the general management of human capital, several one to one brief discus sions were carried out with the Business Unit managers and finding are listed in the slide given below. As per the results, selection and recruitment of right candidates is the most challenging task and employee retention and development also goes side by side in management perspective. Nowadays, it has become almost unworkable to find right talent for technical and non technical positions in assistant industry with right attitudes and qualifications mainly due to the facts that migration and overseas job opportunities and lack of interest and knowledge of the younger generation working in SI industry. So that company has to invest a lot on wise graduates for their development by providing trainings and guidance without getting any productive matter from them in return for a significant time period.Same as globally, coping up with the change has become one of the key challenges facing by the local management specially when handling employee behavior and perceptions in situation s like drastic business strategy changes. Also addressing and filling up the gap between the employer and employee engagement happen to be impact negatively on overall business performance and this perceptual gap needs to be filled by establishing proper communication channels end-to-end the corporate hierarchy. Since we are still suffering and being victims of the global recession, local companies had to cut down(a) budgets severely and due to that employees motivation and morality goes down ultimately affecting negatively on achieving business targets.Moving on with the discussion of global and local challenges faced by general management in handling human capital, now lets look at current HR management challenges of aligning employee and HR incision agendas in KBSL.The current HR Management challenge of aligning The Employee Agenda with the The HR part Agenda in KBSLThe Employee Agenda in KBSL Information Technologies LtdEvery employee has their own expectations from their e mployers and organizational success heavily lies on identifying and satisfying those motivations, preferences and expectations of every individual in a win-win approach where both parties gets benefited. Small round gameboard discussion was held with selective employees from each business units to identify their expectations from the company and listed are the findings of that session.First of all, every employee expects a positive working environment where they can carry out their assigned work productively and efficiently. They expect work- liveliness correspondence since family life is equally important comparable as the working life and so that they expect it to be stress release, supportive and politics free culture. Also employees expect personal and professional growth equally as the attractive wagess and benefits because they want to climb up in the career hightail it to reach higher commanding positions than being in the same position for a lifetime. Performance based satisfying approach and industry benchmarked net income levels are also expected and more importantly appraisals and evaluations to be make in transparently and fairly manner across the organization reward right individuals for their talent and performance.Apart from the benefits, employees expect to be given computer programme and opportunity to use their innovative ideas in to work where they can make a difference and get proper recognition in return. If employees step that their work makes a difference and part of something unique and special they pull up stakes get motivated and perform at their best to deliver more than expected benefiting the organizations at the end of the day.The HR Department Agenda in KBSL Information Technologies LtdSimilar to the employee expectations, there is always organizational and HR discussion section agenda for each employee expecting to deliver certain results in return throughout the entire employee life cycle.Foremost of all, HR depart ment wants to hire the best talent available in the industry and expecting them to perform at their fullest capability as a team to deliver organizational objectives. At the same time they expect everybody to act upon honestly and diligently with utmost load to the organization ad hearing to the corporate ethics and principals. More importantly, employees should equate their organization in a positive manner to outside world and every work related decisions they take should be made in the best interest to the customer.Also HR expects employees to develop their selves by update with the latest technologies and practices and obtaining professional certifications to reflect the competency. Furthermore they expect employees to follow the directions specialize by the management, positively accept and learn from constructive criticisms and being dependable.perceptual GapCarefully evaluating and analyzing both employee and HR agenda, following key points were identify as the perceptual gap and incremental corrective solutions are proposed in the coming slide.As per the modern practices HR function should be strategically reengineered to closely align with the dynamic business environments and effective human capital management practices should followed. But refereeing to the KBSL entity, strategic focus of HR is minimal and more traditional administrative HR operations are followed. Since KBSL has a flat management hierarchy and consist of managers with traditional perceptual expectation still believes that employees as a liability and replaceable at anytime alternatively than treating them as organizations most valued assets. Also management expects employees to deliver more than they are capable without giving them proper training and honorariums and some of the employees also expect limitless benefits from the company without delivering their assigned jobs.Both employees and HR department comes to false conclusions by judging on misinterpreted information m ainly due to the distant engagement and lack of proper communication channels in conclusion affecting the organizational success. Finally there is no specific amount methodology to manage activities associated to employee life cycle causing un indispensable troubles to the business by following instantaneous ad hoc decisions.Proposals for Incremental ResolutionsBased on the local and global trends and best practices and applying the human capital management theory, following resolutions are proposed to fill up the perceptual gap addressed above.Since employees are considered to be the most valuable asset to any organization, organizations should develop and represent a win-win situation for both parties by addressing each others concerns genuinely. Also HR function should evolve to a more strategic and responsible role by closely aligning with business objective and proper communication channels needs to be established to minimize the misunderstandings between the employee and em ployers expectations.Also to address the major problem of employee turnover, KBSL management should provide competitive compensation and remuneration packages to the employees analyzing competitor benchmarks and focus on employee career development prospects positively to create a long lasting relationship with them. Also it is highly advised to incorporate modern HR practices given in the slide so that KBSL as a whole can benefit from positive outcomes.talent ManagementDefinitionTalent Management has many definitions and as given in the slide it can be simply define as the systematic methodology in managing talent within an organization in achieving strategic business goals. Talent Management itself has important key components such as workforce planning, selection, recruitment, orientation, performance management, training and development, succession planning, compensation and benefits which can be directly impacted on organizational success.As per the formula shown in the power p oint slide talent should be a collective combination of competence, commitment and portion so that in addition to the talent development, organizations should motivate and reward employees to gain their commitment and contribution to achieve organizational goals.The importance of the talent management is simply explained by the quotation of Organize as if the companys survival depends on talent management. It does by Boston consulting group and further discussed in the coming slide.Importance of Talent ManagementTalent management has become a crucial factor to organizational success due to many reasons and some of them are mentioned in this slide.In todays highly dynamic, highly competitive and highly demanding business environments, success is mostly depending on the talent of the workforce available within the industry. So that organizations should establish competency based recruitment procedures to attract the best among the industry and should retain and develop their best per formers and highly skilled people to full stop ahead in success race in the industry.Talent management plays a vital role in creating a high perform workforce and a winning corporate culture by implanting high motives in employees mindset and helps organizations to minimize the risk of losing key talent by initiating proper development programs giving employees plenty of opportunities to grow within the company. At the same time identifying successors for critical positions and develop internal employee capabilities to cater emerging organizational needs helps to address the resource scarcity in the industry.It also helps to identify competency gaps, talent requirements more quickly and make necessary arrangements to overcome those gaps for the betterment of the organizational performance. 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