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Human capital

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Some facts about HUMAN CAPITAL within the organization.

Some facts about HUMAN CAPITAL within the organization.

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    Human capital Human capital Presentation Transcript

    • “Never Underestimate the Importance of Human Knowledge”“Never Underestimate the Importance of Human Knowledge” By : Prakash Dhakal MBA – HRM
    • Main Focus Concepts Differentiation (Knowledge and Human Capital) Human Capital Activities Human Capital Management Human Capital Strategies Human Capital Center of Excellence Human Capital Risks ConclusionPrakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Core Concept Knowledge Knowledge is a familiarity with someone or something, that can include information, description, facts, and or skills acquired through experience or education. It can refer to both the theoretical or practical understanding of a subject. Human Capital Knowledge Human CapitalPrakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Core Concept Knowledge Human Capital Valuable property or a good, which collectively represent the wealth of an individual or business is known as capital. Human capital is the economic value that an employee provides to an employer. The assessment of this value is related to the body of skill, knowledge, and experience that the employee possesses. Knowledge Human CapitalPrakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Core Concept Knowledge Human Capital Knowledge Human Capital Human capital is the stock of competences, knowledge and personality attributes embodied in the ability to perform labor so as to produce economic value. It is the attributes gained by a worker through education, Knowledge and experience, which is known as knowledge human capital.Prakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Core Concept, Human CapitalPrakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Knowledge Capital An intangible asset that comprises the information and skills of a companys employees, their experience with business processes, group work and on-the-job learning is knowledge capital. Knowledge capital is based on skills that employees share with each other in order to improve efficiencies Having employees with skills and access to knowledge puts a company at a comparative advantage to its competitors. Businesses develop knowledge capital by encouraging employees to share information through white papers, seminars and person- to-person communication, and even from the trainings.Prakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Knowledge/Human Capital Some Related Terms … Human Capital is the combined value of the skills, knowledge, creativity, abilities, and life experiences of the organizational workforce. This value creates a set of core competencies that gives firm a competitive advantage in the global marketplace. The competitive advantage in the organization can only be sustained through: a. Continuing knowledge based training b. Developing strategies to address the internal and external forces that impact an organization’s effectivenessPrakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Knowledge/Human Capital Some Related Terms … Human Capital is the combined value of the skills, knowledge, creativity, abilities, and life experiences of the organizational workforce. This value creates a set of core competencies that gives firm a competitive advantage in the global marketplace. The competitive advantage in the organization can only be sustained through: a. Continuing knowledge based training b. Developing strategies to address the internal and external forces that impact an organization’s effectivenessPrakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Knowledge/Human Capital Some Related Terms … Human Capital is the combined value of the skills, knowledge, creativity, abilities, and life experiences of the organizational workforce. This value creates a set of core competencies that gives firm a competitive advantage in the global marketplace. The competitive advantage in the organization can only be sustained through: a. Continuing knowledge based training b. Developing strategies to address the internal and external forces that impact an organization’s effectivenessPrakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Knowledge & Human CapitalHuman Capital is the combined value of the skills, knowledge, creativity, abilities, and life experiences of the organizational workforce.
    • Knowledge & Human Capital
    • Human Capital Development Human Capital Development are an innovative training and development activities with expert management and HR specialists. It deals a dynamic and fresh approach to Training and Development, which provide an innovation with traditional methodologies to deliver fast and effective results.Human Capital Development are an innovativetraining and development activities with expertmanagement and HR specialists which deals a Dynamic ,fresh and innovative approach to deliver the Effective result
    • Investing in Human Capital Investing in human capital is like invest in new technologies which gives a better performance for the goal attending activities. ( similarly employees can demonstrate their better performance if organization invest on them ) (Invest in Human Capital is providing them training, good compensation packages, insurance, maintaining healthy relation etc) Human capital is a form of value that should be understood only in economic terms, so that continuous investment in human capital is needed to sharp the employees skills and knowledge.Prakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Why Invest in HC ? Professional View point According to Prof. Shree Krishna Shrestha Chief and Chair, IBMS Head, Public Administration, CD.T.U. “Human Capital are Organizational People who Creates and Maintain the Intellectual Capital within the Organizations that Drives Innovation and Shapes Products” So that every organization should seek to invest in Human Capital. Video >>Prakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Human Capital Approach The approach of Human Capital is manifested within a professional framework that has client satisfaction at its heart.• Develops and empower individuals, teams and organizations.• Develops programs, processes and systems that fulfill organizational needs• Provides an emphasis on practical skill development based on proven management practice
    • Human Capital Management Companies that engage in talent management (actually known as HC management) How company source, attract, select, train, develop, retain, promote, and move employees through the organization is analyzed in HC management. The major aspects of HC management Includes: •Performance management •Leadership development •Workforce planning/identifying talent gaps >> •Recruiting (from the external as well as internal sources )Prakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • HC Management Suite Learning Performance Management Management Recruitment 360 feedback Management Module HCM Suite Employee Talent Engagement Management Succession HR Metrics Planning Performance management can focus on the performance of an organization, a department,employee, or even the processes to build a product or service, as well as many other areas. This is an ongoing process of communication between a supervisor and an employee .
    • HC Management Suite Learning Performance Management Management Recruitment 360 feedback Management Module HCM Suite Employee Talent Engagement Management Succession HR Metrics PlanningA System in which employees receive confidential, feedback from the people who work aroundthem. 360 feedback addresses skills such as listening, planning, and goal-setting also it focuses on subjective areas such as teamwork, character, and leadership effectiveness
    • HC Management Suite Learning Performance Management Management Recruitment 360 feedback Management Module HCM Suite Employee Talent Engagement Management Succession HR Metrics Planning Companies that engage in talent management in how they source, attract, select, train, develop, retain, promote, and move employees through the organization. It Includes :-performance management , leadership development, workforce planning, and recruiting
    • Why Talent Management ?Video >>Prakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • HC Management Suite Learning Performance Management Management Recruitment 360 feedback Management Module HCM Suite Employee Talent Engagement Management Succession HR Metrics PlanningHaving people in place, experienced and prepared, will enhance continuity, build confidence ,Knowing their people, take time to think, create WIN-WIN situation, invest, taking risk are the way of succession planning
    • HC Management Suite Learning Performance Management Management Recruitment 360 feedback Management Module HCM Suite Employee Talent Engagement Management Succession HR Metrics PlanningCompliance, certifications, and re-certifications (Metrics system)
    • HC Management Suite Learning Performance Management Management Recruitment 360 feedback Management Module HCM Suite Employee Talent Engagement Management Succession HR Metrics PlanningEngaged employees will help promote the brand and protect the employer from the risks associated with poor service levels or product quality. Similarly a strong employer brand will help in attracting and retaining employees and also to deliver improved business performance, Engagement is Necessary.
    • Employee Engagement Learning Performance Management Management HCM Suite Succession HR Metrics Planning Engagement is about more than just a quality of work. Engagement effects everything from how youhandle conflicts, to the effort you put into solving problems, to the way you approach decision making.
    • HC Management Suite Learning Performance Management Management Recruitment 360 feedback Management Module HCM Suite Employee Talent Engagement Management Succession HR Metrics Planning Managing all types of the activities of recruitment procedures is known as Recruitment Mgmt.(internal__ transfer, Promotion) and (for the external recruitment – managing advertisement, employee exchange, agencies, educational institutions etc )
    • HC Management Suite Learning Performance Management Management Recruitment 360 feedback Management Module HCM Suite Employee Talent Engagement Management Succession HR Metrics PlanningLearning Management manages all aspects of global education and training by automating andoptimizing the administration, management, delivery, and learning programs. Improve workforce productivity, and Engage your workforce and improve talent readiness -- for organizational success.
    • Benefits Human Capital Management Increase Knowledge Base Knowledge management refers to the efforts to systematically find, Measure and improve organize and make available an workforce productivity organization’s intellectual capital Minimize risk by changing and develop a culture of likely outcomes continuous learning and knowledge. Proactively plan for future workforce needs Each training opportunity added Support enterprise knowledge base organization … performance improvementPrakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Benefits Human Capital Management Increase Knowledge Base Human Capital Management makes measuring and analyzing Measure and improve workforce productivity key indicators straightforward. Minimize risk by changing A built-in viewer provides a likely outcomes simple way to see the status of Proactively plan for future key metrics, such as revenue per workforce needs employee, relative to goals … Support enterprise performance improvementPrakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Benefits Human Capital Management Increase Knowledge Base Human Capital Management provides advanced analytics and Measure and improve workforce productivity easy-to-use interfaces so business users can identify and minimize Minimize risk by changing risks by predicting workforce likely outcomes changes and analyzing associated Proactively plan for future costs. workforce needs Forecasting or analytic expertise is Support enterprise performance improvement not needed.Prakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Benefits Human Capital Management Increase Knowledge Base Using pre-defined analytics, such Measure and improve as Organization Analysis, displays workforce productivity organizational hierarchies in a list Minimize risk by changing of graphical views while surfacing likely outcomes critical data about the work force. Proactively plan for future workforce needs What kind of workforce are involving and what kinds are Support enterprise needed, when needed… performance improvementPrakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Benefits Human Capital Management Increase Knowledge Base Measure and improve workforce productivity Human capital management helps to integrate and align Minimize risk by changing human capital strategies and likely outcomes improvement efforts with Proactively plan for future organizational goals. workforce needs Support enterprise The result is a comprehensive performance improvement view of enterprise performance.Prakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Human Capital Center of Excellence Recruiting Human Capital Center of Excellence Retention Selection of required and recommended candidate (staffing Resource Development or enrollment, or employment) Change Management Selection of highly qualified and experience people. Sourcing Process: Screening, selection, Organizational Devt. training, socializing etc. Compliance / LegalPrakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Human Capital Center of Excellence Recruiting Human Capital Center of Excellence Preservation, Maintenance and Retention withholding employees. Resource Development By providing Training, good compensation packages Change Management (monetary and non-monetary), and employee socialization. Sourcing … which helps to bring excellence Organizational Devt. result in the organization. Compliance / LegalPrakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Human Capital Center of Excellence Recruiting Human Capital Center of Excellence 2 + 2 = 5 (Synergy) Retention Resource Development system Resource Development helps to develop and improve organizational performance. Change Management Also it helps to improve Sourcing Customer satisfaction, reduces staff turnover and helps to Organizational Devt. increase productivity profitability increase. Compliance / LegalPrakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Human Capital Center of Excellence Recruiting Human Capital Center of Excellence Change management is a Retention structured approach to shifting individuals, teams, and Resource Development organizations from a current state to a desired future state. Change Management It is an organizational process Sourcing aimed at empowering employees to accept and embrace changes Organizational Devt. in their current business environment. Compliance / LegalPrakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Human Capital Center of Excellence Recruiting Human Capital Center of Excellence In business, the term word Retention sourcing refers to a number of procurement practices, aimed at Resource Development finding, evaluating and engaging suppliers of goods and services. Change Management Human Capital Sourcing is the Sourcing identification of job candidates through proactive recruiting Organizational Devt. techniques. Compliance / LegalPrakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Human Capital Center of Excellence Recruiting Human Capital Center of Excellence OD, as a response to change, a Retention complex educational strategy intended to change the beliefs, Resource Development attitudes, values, and structure of an organization so that it can better Change Management adapt to new technologies, markets, challenges, and the Sourcing dizzying rate of change itself. Organizational Devt. So OD is the process of improving organizations. Compliance / LegalPrakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Human Capital Center of Excellence Recruiting Human Capital Center of Excellence Retention Legal compliance is the process or procedure to Resource Development ensure that an organization or employees follows relevant Change Management laws, regulations and business Sourcing rules to achieve the targeted goal. Organizational Devt. Compliance / LegalPresented to: Ms. Rosina Ranjitkar, Faculty of HRM, IBMS July - 2011
    • Human Capital ModelPrakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Human Capital Strategy Talent is the only sustainable advantage in a global knowledge economy, and integrated talent management strategy and practices are now central to business results. Human Capital Strategy provides the foundational framework, practical application and tools to move the needle in any organization and career.Prakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Strategic Relation Human Capital and BusinessHuman Capital is the combined value of the skills, knowledge,creativity, abilities, and life experiences of the organizational workforce.
    • Human Capital Risk Human capital risk occurs when the organization operates below attainable operational excellence levels. example >> Human capital risk accumulates in four primary categories:  Absence activities Activities related to employees not showing up for work such as sick leave, industrial action, etc. Unavoidable absence is referred to as legal Absence. All other categories of absence are termed "Controllable Absence“  Collaborative  Knowledge Activities  Process activitiesPrakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Human Capital Risk Human capital risk occurs when the organization operates below attainable operational excellence levels. example >> Human capital risk accumulates in four primary categories:  Absence activities  Collaborative activities Collaborative activities are related to the expenditure of time between more than one employee within an organizational context. Examples include: meetings, phone calls, instructor led training, etc.)  Knowledge  Process activitiesPrakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Human Capital Risk Human capital risk occurs when the organization operates below attainable operational excellence levels. example >> Human capital risk accumulates in four primary categories:  Absence activities  Collaborative activities  Knowledge Activities Knowledge Activities are related to time expenditures by a single person and include finding information, research, email, messaging, blogging, information analysis etc.  Process activitiesPrakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Human Capital Risk Human capital risk occurs when the organization operates below attainable operational excellence levels. example >> Human capital risk accumulates in four primary categories:  Absence activities  Collaborative activities  Knowledge Activities  Process activities Process activities are knowledge and collaborative activities that result due to organizational context such as errors/ rework, manual data transformation, stress, politics, etc.)Prakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Risks (a poem copied from you can win) ... To reach out for another is to risk involvement. To expose feelings is to risk exposing your true self. To place your ideas, your dreams, before a crowd is to risk their loss To live is to risk dying. To hope is to risk despair. To try is to risk failure. But risks must be taken, because the greatest Hazard in life is to risk nothing. The person who risks nothing, does nothing, has nothing, and is nothing They may avoid suffering and sorrow, but they cannot learn, feel, change, grow, Love, or live. Only a person who risks is free.Prakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Human Capital Mobility Between Nations Educated individuals often migrate from poor countries to rich countries seeking opportunity. capital-rich countries gain an arrival in labor, and labor rich countries receive capital when migrants remit money home. The ability to have mobility with regards to where people want to move and work is a part of their human capital. Being able to move from one area to the next is an ability and a benefit of having human capital. (Terms in HUMAN CAPITAL VALUE)Prakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Human Capital Valuation Valuation is made according to the Knowledge, Skills Experience, Education and performance of employee’s that helps organization to achieve the targeted goal. Productivity, Efficiency, Knowledge and education, Popularity, Credibility Skills and Legality etc..Prakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • Conclusion … Human capital concept is now develop in a broader sense as a KNOWLEDGE CAPITAL, because Knowledge gives the value and Excellency. Human Capital need motivation to raise their value and performance. Investment in human capital is continuous process which helps employees to increases the performance & productivity Which helps organization to exists in this competitive business world, so organization should seek to invest in HUMAN CAPITAL.Prakash Dhakal, MBA – II, Human Resource Management July – 2011 fall
    • “ To put it simply and starkly; if you don’tget the people process right, you will never fulfill the potential of your business.” Larry Bossidy, Former CEO of Honeywell
    • Q&AThank you
    • Note: Some of the contents of this slides are copied from different scholar’s articles from Google and Wikipedia. Also I would like to assure that- this slides are prepared for the academic use, not used for professional purpose, so that I am not including references here. ____________ With Regard Prakash Dhakal