human capital

Examples of human capital in the following topics:

• Culture-Specific Nuances of Human Resources Management

  • Human resources management (HRM), or the strategic initiatives that govern human capital within a company, are one of the central components of any business.
  • Indeed, human capital is quite often one of the highest capital expenditures business anticipate.
  • As a result, analyzing both the way in which the internal human resources (HR) department at a given business approaches international hires, alongside the external consideration of the way in which international companies pursue human capital, is a critical strategic and competitive consideration within most industries.
  • Coupling a rapidly globalizing economy with these advantages places significant pressure on HR to find effective and efficient ways to maximize human capital investments across new, and sometimes unfamiliar, cultures.
  • The HR department is responsible not only for recruiting and onboarding, but also in creating a synergistic environment for all human capital on a macro level .

• The Importance of Leverage

  • Management roles are defined by the capacity to motivate and leverage human capital in the organization to achieve efficiency in operations.
  • Management roles are defined by the capacity of the manager to motivate and leverage the human resources in the organization to achieve efficiency in operations.
  • Motivating employees to leverage the human resources within an organization is central to a manager's responsibilities; it is achieved by understanding what drives productivity.
  • By effectively combining this motivational understanding with the expectations and responsibilities of managing employees, managers effectively leverage human capital to achieve high levels of efficiency and employee satisfaction.
  • A business with high liquid capital may invest in information structure to reduce the cost of production and increase automation.

• Defining Management

  • Management is the act of engaging with an organization's human talent and its resources to accomplish desired goals and objectives.
  • Management is the act of engaging with an organization's human talent and using the physical resources at a manager's disposal to accomplish desired goals and objectives efficiently and effectively.
  • This duty involves deploying and manipulating human resources (or human capital), as well as efficiently allocating the organization's financial, technological, and natural resources.
  • Since organizations can be viewed as systems, management can also be defined as human action, such as product design, that enables the system to produce useful outcomes.

• Administrative Management: Fayol's Principles

  • Taylor was concerned with task time and improving worker efficiency, while Fayol was concerned with management and the human and behavioral factors in management.
  • As a result of his concern for workers, Fayol was considered one of the early fathers of the human relations movement.
  • Organizing: Managers must organize and provide the resources necessary to execute said plan, including raw materials, tools, capital, and human resources.

• Management in Different Types of Business: For-Profit, Non-Profit, and Mutual-Benefit

  • Non-profits' lack of free-flowing capital means they rarely have the resources to staff the organization sufficiently.
  • A mutual is therefore owned by its members and run for their benefit; it has no external shareholders to pay in the form of dividends, and as such does not usually seek to generate large profits or capital gains.
  • Managers in mutual benefit organizations are, therefore, more concerned about improvements in human and environmental well-being than maximizing profits for external shareholders.

• Employee Career-Path Management

  • Career-path management requires human resource management to actively manage employee skills in pursuit of successful professional careers.
  • Human resource development (HRD) is the central framework for the way in which a company leverages an effective human resources department to empower employees with the skills for current and future success.
  • This is achieved through two specific human resource objectives: training and development (TD) and organizational development (OD).
  • Depending too heavily upon TD may result in an organization incapable of capitalizing on employee skills, while focusing too much on OD will generate a company culture adverse to professional development.
  • Therefore, human resources departments are central to empowering employees to take successful career paths while maintaining an organizational balance.

• Managing Organizational Diversity

  • This includes, but is not limited to, incorporating diversity initiatives into the mission and vision statements, the employee handbook, values statements, human resource policies, human resource training, and press releases.
  • Following this process, upper management must also align resource allocation with diversity—committing time, efforts, capital, and staff to promoting it.
  • The human resource department specifically has a great deal of responsibility in managing the overall diversity of the organization.
  • Human resources can consider diversity within the following areas:
  • The role of human resources is to ensure that all employee concerns are being met and that employee problems are solved when they arise.

• Employee Benefits Management

  • These benefits ensure that employees have access to health insurance, retirement capital, disability compensation, sick leave and vacation time, profit sharing, educational funding, day care, and other forms of specialized benefits.
  • Human resources (HR) has a wide range of responsibilities, including hiring, training, assessment, and compensation across the company.
  • Human resources contribute to the overall employee experience across the span of an employee's time with the company.
  • Human resources departments carry out many services, including data management, service efficiency, and employee services.
  • Break down employee reimbursement to describe a variety of direct and indirect benefits captured by the employee from human resource management

• Building a Diverse Workforce

  • Therefore, it is a top priority for multinational corporations to develop a strong intercultural competence in their management and apply this competence to the human resource framework.
  • When defining the roles and responsibilities of a given position in the company, a human resources department must actively consider what they mean for the individual filling that position.
  • Finally, retaining diverse employees is critical to the success of an international human resource department.
  • Capitalizing on this investment comes in the form of employee retention and effective incentive programs to maintain employee satisfaction.
  • Keeping this human resources framework in mind for constructing a multicultural workplace is a critical element to the success of businesses in a rapidly globalizing market.

• Inside and Outside Forces for Organizational Change

  • Inside forces include strategic and human resource changes, while outside forces include macroeconomic and technological change.
  • Intrapreneurship - New ideas come from inside the organization as well as outside the organization, and capitalizing on a great new idea will likely require some internal reconsideration.