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Unleashing Human Capital to 
Drive the Next Wave of Growth 
Anna-Lucia Mackay & Anthony Sork 
www.hcmglobal.biz 
HCM Global Pty Ltd © 2003 1
HCM Global Pty Ltd © 2003 2
AGENDA 
• Understanding Human Capital Management (HCM) as a strategic 
driver of enterprise growth 
• Best Practice HCM programs 
• Integrating HCM infrastructure across the organisation 
HCM Global Pty Ltd © 2003 3
TRANSITIONING HR TO HCM 
• “Do more with less” has pressured a change to the structure and 
purpose of central departments 
• No longer can “administrative centres” exist without clear 
contribution to the bottom line 
• Corporate services now required to be consultative and strategic 
• In the knowledge economy, attraction and retention of talent is the 
key differentiator to business success 
• To devise and successfully implement a Human Capital Strategy 
that facilitates business performance and enables business growth 
is the purpose of this corporate service today and into the future 
HCM Global Pty Ltd © 2003 4
MCKINSEY REPORT – WAR FOR TALENT 
The survey comprised of 400 corporate officers and 6,000 executives 
from the “top 200” ranks in these companies. 
• Only 33% of the 6,000 “top 200” executives strongly agreed that 
their companies attract highly talented people 
• Just 10% strongly agreed that they retained their high performers 
• Only a paltry 3% said their companies “actually developed their 
people quickly and effectively, or move low performers out quickly” 
HCM Global Pty Ltd © 2003 5
THE CEO VIEW 
HCM Global Pty Ltd © 2003 6
HOW ARE WE PERFORMING 
HCM Global Pty Ltd © 2003 7
THE SCORE CARD 
• Very good on the HR basics – Administration 
• Key areas to improve: 
– Recruitment 
– Retention 
HCM Global Pty Ltd © 2003 8
“The very definition of Human Capital is that it walks out the door 
every evening, and exits permanently with an employee who 
leaves a company.” 
HCM Global Pty Ltd © 2003 9 
Gary S Becker 
Nobel Prize winning economist
HUMAN CAPITAL 
Human 
Capital 
Ability/ 
Competency 
HCM Global Pty Ltd © 2003 10 
Intellectual/ 
Knowledge 
Relationships 
Internal/External
HUMAN CAPITAL MANAGEMENT MODEL 
HCM Global Pty Ltd © 2003 11 
EMPLOYER 
OF 
CHOICE 
Source: HCM Global 2003 
PEOPLE 
PRODUCT 
& 
PROCESS 
SYSTEMS 
BUSINESS 
STRATEGY 
& 
OBJECTIVES 
HUMAN CAPITAL 
MANAGEMENT STRATEGY 
RETENTION 
DEVELOP & 
RECRUIT 
Able to 
Execute 
Unable to 
Execute 
HCM
HUMAN CAPITAL MANAGEMENT 
HCM Global Pty Ltd © 2003 12
ATTRACT 
HCM Global Pty Ltd © 2003 13
WHERE TO START 
• Who are you trying to attract? 
• What talent do you know your organisation requires? 
– Linked to organisation strategy and key objectives 
• Profiling your targeted talent 
• Understand what creates Employer of Choice status for your 
targeted talent 
– Note this varies across generations and industry 
• Create an Employer of Choice strategy 
HCM Global Pty Ltd © 2003 14
2003 EoC Research 
HCM Global Pty Ltd © 2003 15 
John Galloway GM Classified, careerone 
Human Capital October 2003 
EoC selection criteria: all industries 
31% 
9% 
16% 11% 
19% 
14% 
Career development 
opportunities 
Management style and 
structure 
Prestige-local and 
international perception 
Salary and remuneration 
Working environment and 
company resources 
Workplace culture
RECRUIT 
HCM Global Pty Ltd © 2003 16
“Through the influence of skill specialisation, low unemployment rates 
and the recognition of the value of people to the performance of 
the business, the recruitment process has become as much about 
candidates selecting the employer as the employer 
selecting the candidate.” 
HCM Global Pty Ltd © 2003 17 
Debbie Loveridge 
Divisional Director – Select Australasia 2003
CURRENT MARKET CONDITIONS 
• Recruitment procedures and tools have become quite sophisticated 
• Targeted selection has become very effective 
• Our administrative strengths now threaten our ability to actually 
achieve the desired recruitment objective 
• Thoroughness of process has directly impacted length of process 
• Length of process is one of the greatest influencers on candidate 
decision making – The “you snooze you lose” effect 
• There is a fine line between creating desire for a position and 
creating a barrier of entry and a perception of bureaucracy 
HCM Global Pty Ltd © 2003 18
BRAND VALUE 
• The recruitment process will heavily influence your brand value 
and brand power 
• The recruitment process for successful candidates will either 
facilitate or hinder the bonding process 
• For unsuccessful candidates, a poor recruitment process can have 
far reaching effects both on consumer perceptions and on future 
talent attraction 
HCM Global Pty Ltd © 2003 19
RETAIN 
HCM Global Pty Ltd © 2003 20
EMPLOYEE BONDING CRITICAL TO RETENTION 
HCM Global Pty Ltd © 2003 21 
ROTATION/ 
CONTEXT 
ORIENTATION 
CORE/CENTRAL 
MESSAGES 
INCREMENTAL 
LEARNING 
90 Day 
Critical 
Period 
Source: HCM Global 2003
EoC FOR EXISTING STAFF 
• Many organisations focus their EoC strategy on attracting talent 
based on current business objectives 
• Many neglect the need to develop an EoC strategy that addresses 
both attracting and retaining talent 
• Most neglect the need to do this both based on current business 
objectives as well as future business objectives 
• Your desired Human Capital will change along with your business 
HCM Global Pty Ltd © 2003 22
EoC STATUS AND BUSINESS GROWTH 
1 yr 
2 yr 
HCM Global Pty Ltd © 2003 23 
3 yr 
4 yr 
ff at S gni tsi xE 
Targeted Staff 
TIME 
HCM Global 2003
THE PSYCHOLOGICAL CONTRACT 
“Psychological contracts are implicit, involving an individual's beliefs 
of reciprocal exchange between two parties pertaining to trust, 
loyalty and the well-being of all involved.” 
HCM Global Pty Ltd © 2003 24 
SL Rousseau
4 ELEMENTS OF THE PSYCH CONTRACT 
1. Contract – Focus 
• Willingness to go beyond the confines of the employment 
contract 
• Degree of focus on employer and job as source of 
remunerative benefit alone 
2. Perceived Equity 
• Degree of perceived equity in the behaviour of the company 
towards employees 
• Inputs and outcomes 
3. Involvement 
• Degree to which an employee remains involved in and invests 
in the activities of the company 
4. Time-frame 
• Expected length of employment relationship based on 
intentions and perceived long-term prospects with the 
employer 
HCM Global Pty Ltd © 2003 25
INVEST IN PEOPLE DEVELOPMENT 
• Many elements within your businesses will influence retention of 
key talent – Watson Wyatt identify the following in their Human 
Capital Index: 
1. Recruiting Excellence 
2. Clear rewards and accountability 
3. Collegial and flexible workplace 
4. Communications integrity 
5. Prudent use of resources 
• Key to your Employer of Choice strategy for desired, existing and 
future talent and influencer of the Psychological contract is your 
willingness to invest in people development 
• Gen X and Gen Y demand it!! 
HCM Global Pty Ltd © 2003 26
ORGANISATION LEARNING PATHWAY 
MANAGEMENT 
HCM Global Pty Ltd © 2003 27 
• One of the easiest ways 
to integrate a HCM 
infrastructure across the 
organisation is by 
leveraging your people 
development system 
• Ensure you link people 
development and career 
progression 
INDUCTION 
FUNCTIONALLY SPECIFIC TRAINING 
MENTOR/COACH 
LEADERSHIP 
EXECUTIVE
PEOPLE DEVELOPMENT AS HCM INFRASTRUCTURE 
Some of your key objectives may include: 
– To provide an environment in which all staff have the 
opportunity to develop themselves as far as their ability and 
desire will allow 
– To design, develop and implement a comprehensive 
organisation development program which enables development 
for all staff across all positions and divisions within the 
company regardless of length of service 
– To develop talent from within in line with key organisation 
objectives 
HCM Global Pty Ltd © 2003 28
HCM AS A STRATEGIC DRIVER OF GROWTH 
• Organisations that invest in their people are commonly associated 
with higher revenues per employee 
• Measurable HCM factors such as staff retention and absence due to 
sick leave show a strong link to profitability 
HCM Global Pty Ltd © 2003 29 
Source: Global Human Capital Survey 
IBM Business Consulting Services
www.hcmglobal.biz 
HCM Global Pty Ltd © 2003 30

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Unleashing human capital

  • 1. Unleashing Human Capital to Drive the Next Wave of Growth Anna-Lucia Mackay & Anthony Sork www.hcmglobal.biz HCM Global Pty Ltd © 2003 1
  • 2. HCM Global Pty Ltd © 2003 2
  • 3. AGENDA • Understanding Human Capital Management (HCM) as a strategic driver of enterprise growth • Best Practice HCM programs • Integrating HCM infrastructure across the organisation HCM Global Pty Ltd © 2003 3
  • 4. TRANSITIONING HR TO HCM • “Do more with less” has pressured a change to the structure and purpose of central departments • No longer can “administrative centres” exist without clear contribution to the bottom line • Corporate services now required to be consultative and strategic • In the knowledge economy, attraction and retention of talent is the key differentiator to business success • To devise and successfully implement a Human Capital Strategy that facilitates business performance and enables business growth is the purpose of this corporate service today and into the future HCM Global Pty Ltd © 2003 4
  • 5. MCKINSEY REPORT – WAR FOR TALENT The survey comprised of 400 corporate officers and 6,000 executives from the “top 200” ranks in these companies. • Only 33% of the 6,000 “top 200” executives strongly agreed that their companies attract highly talented people • Just 10% strongly agreed that they retained their high performers • Only a paltry 3% said their companies “actually developed their people quickly and effectively, or move low performers out quickly” HCM Global Pty Ltd © 2003 5
  • 6. THE CEO VIEW HCM Global Pty Ltd © 2003 6
  • 7. HOW ARE WE PERFORMING HCM Global Pty Ltd © 2003 7
  • 8. THE SCORE CARD • Very good on the HR basics – Administration • Key areas to improve: – Recruitment – Retention HCM Global Pty Ltd © 2003 8
  • 9. “The very definition of Human Capital is that it walks out the door every evening, and exits permanently with an employee who leaves a company.” HCM Global Pty Ltd © 2003 9 Gary S Becker Nobel Prize winning economist
  • 10. HUMAN CAPITAL Human Capital Ability/ Competency HCM Global Pty Ltd © 2003 10 Intellectual/ Knowledge Relationships Internal/External
  • 11. HUMAN CAPITAL MANAGEMENT MODEL HCM Global Pty Ltd © 2003 11 EMPLOYER OF CHOICE Source: HCM Global 2003 PEOPLE PRODUCT & PROCESS SYSTEMS BUSINESS STRATEGY & OBJECTIVES HUMAN CAPITAL MANAGEMENT STRATEGY RETENTION DEVELOP & RECRUIT Able to Execute Unable to Execute HCM
  • 12. HUMAN CAPITAL MANAGEMENT HCM Global Pty Ltd © 2003 12
  • 13. ATTRACT HCM Global Pty Ltd © 2003 13
  • 14. WHERE TO START • Who are you trying to attract? • What talent do you know your organisation requires? – Linked to organisation strategy and key objectives • Profiling your targeted talent • Understand what creates Employer of Choice status for your targeted talent – Note this varies across generations and industry • Create an Employer of Choice strategy HCM Global Pty Ltd © 2003 14
  • 15. 2003 EoC Research HCM Global Pty Ltd © 2003 15 John Galloway GM Classified, careerone Human Capital October 2003 EoC selection criteria: all industries 31% 9% 16% 11% 19% 14% Career development opportunities Management style and structure Prestige-local and international perception Salary and remuneration Working environment and company resources Workplace culture
  • 16. RECRUIT HCM Global Pty Ltd © 2003 16
  • 17. “Through the influence of skill specialisation, low unemployment rates and the recognition of the value of people to the performance of the business, the recruitment process has become as much about candidates selecting the employer as the employer selecting the candidate.” HCM Global Pty Ltd © 2003 17 Debbie Loveridge Divisional Director – Select Australasia 2003
  • 18. CURRENT MARKET CONDITIONS • Recruitment procedures and tools have become quite sophisticated • Targeted selection has become very effective • Our administrative strengths now threaten our ability to actually achieve the desired recruitment objective • Thoroughness of process has directly impacted length of process • Length of process is one of the greatest influencers on candidate decision making – The “you snooze you lose” effect • There is a fine line between creating desire for a position and creating a barrier of entry and a perception of bureaucracy HCM Global Pty Ltd © 2003 18
  • 19. BRAND VALUE • The recruitment process will heavily influence your brand value and brand power • The recruitment process for successful candidates will either facilitate or hinder the bonding process • For unsuccessful candidates, a poor recruitment process can have far reaching effects both on consumer perceptions and on future talent attraction HCM Global Pty Ltd © 2003 19
  • 20. RETAIN HCM Global Pty Ltd © 2003 20
  • 21. EMPLOYEE BONDING CRITICAL TO RETENTION HCM Global Pty Ltd © 2003 21 ROTATION/ CONTEXT ORIENTATION CORE/CENTRAL MESSAGES INCREMENTAL LEARNING 90 Day Critical Period Source: HCM Global 2003
  • 22. EoC FOR EXISTING STAFF • Many organisations focus their EoC strategy on attracting talent based on current business objectives • Many neglect the need to develop an EoC strategy that addresses both attracting and retaining talent • Most neglect the need to do this both based on current business objectives as well as future business objectives • Your desired Human Capital will change along with your business HCM Global Pty Ltd © 2003 22
  • 23. EoC STATUS AND BUSINESS GROWTH 1 yr 2 yr HCM Global Pty Ltd © 2003 23 3 yr 4 yr ff at S gni tsi xE Targeted Staff TIME HCM Global 2003
  • 24. THE PSYCHOLOGICAL CONTRACT “Psychological contracts are implicit, involving an individual's beliefs of reciprocal exchange between two parties pertaining to trust, loyalty and the well-being of all involved.” HCM Global Pty Ltd © 2003 24 SL Rousseau
  • 25. 4 ELEMENTS OF THE PSYCH CONTRACT 1. Contract – Focus • Willingness to go beyond the confines of the employment contract • Degree of focus on employer and job as source of remunerative benefit alone 2. Perceived Equity • Degree of perceived equity in the behaviour of the company towards employees • Inputs and outcomes 3. Involvement • Degree to which an employee remains involved in and invests in the activities of the company 4. Time-frame • Expected length of employment relationship based on intentions and perceived long-term prospects with the employer HCM Global Pty Ltd © 2003 25
  • 26. INVEST IN PEOPLE DEVELOPMENT • Many elements within your businesses will influence retention of key talent – Watson Wyatt identify the following in their Human Capital Index: 1. Recruiting Excellence 2. Clear rewards and accountability 3. Collegial and flexible workplace 4. Communications integrity 5. Prudent use of resources • Key to your Employer of Choice strategy for desired, existing and future talent and influencer of the Psychological contract is your willingness to invest in people development • Gen X and Gen Y demand it!! HCM Global Pty Ltd © 2003 26
  • 27. ORGANISATION LEARNING PATHWAY MANAGEMENT HCM Global Pty Ltd © 2003 27 • One of the easiest ways to integrate a HCM infrastructure across the organisation is by leveraging your people development system • Ensure you link people development and career progression INDUCTION FUNCTIONALLY SPECIFIC TRAINING MENTOR/COACH LEADERSHIP EXECUTIVE
  • 28. PEOPLE DEVELOPMENT AS HCM INFRASTRUCTURE Some of your key objectives may include: – To provide an environment in which all staff have the opportunity to develop themselves as far as their ability and desire will allow – To design, develop and implement a comprehensive organisation development program which enables development for all staff across all positions and divisions within the company regardless of length of service – To develop talent from within in line with key organisation objectives HCM Global Pty Ltd © 2003 28
  • 29. HCM AS A STRATEGIC DRIVER OF GROWTH • Organisations that invest in their people are commonly associated with higher revenues per employee • Measurable HCM factors such as staff retention and absence due to sick leave show a strong link to profitability HCM Global Pty Ltd © 2003 29 Source: Global Human Capital Survey IBM Business Consulting Services
  • 30. www.hcmglobal.biz HCM Global Pty Ltd © 2003 30