Human capital management solution deep rooting the vital component

518 views

Published on

Technologically enhanced business environment and the aggressive competitiveness have led to globalized organizations spread beyond geographical boundaries and have also opened up a number of opportunities for the techno savvy people.

Published in: Business, Technology
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
518
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Human capital management solution deep rooting the vital component

  1. 1. Human Capital Management Solution: Deep Rooting the Vital ComponentTechnologically enhanced business environment and the aggressive competitiveness have led toglobalized organizations spread beyond geographical boundaries and have also opened up a numberof opportunities for the techno savvy people. The human resource being the vital component ofan organization, the multinational organizations face challenging situations in maintaining goodcommunication, understanding the capabilities and capacities of their multicultural and multilingualworkforce.A deep insight into understanding the human resource will enrich the organization’s ability to retaintheir best talents and face the highly competitive environment. Irrespective of the industrial sector,the key components, which work in cohesion for the success of an organization, are structural capital,customer capital and the human capital management. Further, the human capital being the interlinkingfactor between the three is aptly defined as the measure of the economic value of employee’s skills.The global organizations thus need to give particular heed to their valuable capital and ensure thateffective human capital management strategies are integrated into and are a part of the organizationalstrategies. Further, to be successful in the business environment, the HR departments should havetactical methods to understand employee expectations and ensure higher loyalty levels from theirworkforce with effective human resource solutions.Caring for the human resource and their needs is one way of gaining their confidence. Steps takenby organizations in providing for the health, education and improvement of lifestyles go a long wayin developing a strong human capital. In other words, the human development index (HDI) is directlyrelated to Human Capital management and is dependent on Life Expectancy Index, Education Index andIncome Index, both within the organization and the nation as a whole.The technological innovations and cut throat competition in the recent years, has seen an enormousgrowth in the human capital management solutions from a number of HR solution providers. However,the solutions offered by the leading service providers of the industry, include services right from newemployee on-boarding, employee benefit planning, enrolment maintenance, international eligibility,
  2. 2. market risk assessment for local markets, global payroll services, tax planning and wealth management.Further, these service providers while designing employee benefits and compensation have alsodeveloped systems, which would take care of the employees health and retirement plans. The humancapital management solutions from the leading service providers not only facilitates the workforce tocombat critical health issues, but also caters for the technical compliances and regulatory issues such asHIPAA Compliance, HIPAA security compliance, or any other human resource compliance audits.Read Also On: Legislative Compliance, Global HR Solutions

×