Concept of human capital and its implications for compensating human r

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Concept of Human Capital and its implications for Compensating Human Resources:

Concept of Human Capital and its implications for Compensating Human Resources

Are you using a 20th century cell phone in the 21st century?:

Are you using a 20 th century cell phone in the 21 st century?

If you are using this cell phone or one similar, you are using a 21st century communication tool.:

If you are using this cell phone or one similar, you are using a 21 st century communication tool.

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Why not bring your human resources practice into the 21 st century?

The 20th Century :

The 20 th Century Dilemmas in Current Practice Functional departments HR is a separate department Limited or informal forecasting Limited or no clear vision

The 20th Century:

The 20 th Century Limited/no marketing and branding Late hiring Principals’ skills in selection are limited Technology interface is inadequate

The 20th Century:

The 20 th Century Orientation is not “on-boarding” Induction programs disconnected Mentors not well selected, matched or trained appropriately

The 20th Century:

The 20 th Century Professional development Performance Assessment Compensation

21st Century :

21 st Century Human Capital Management

21st Century :

21 st Century What is Human Capital? The accumulated value of an individual’s intellect, knowledge, experience, competencies, and commitment that contributes to the achievement of an organization’s vision and business objectives.

21st Century:

21 st Century Human Capital in K-12 Education: The knowledge and skill sets of our teachers that directly result in increased levels of learning for students. Simply put: What teachers know and are able to do—their talent level.

21st Century Best Practice:

21 st Century Best Practice Culture Create a positive organizational context Get the best people into roles where they “fit” Get the most out of every person

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Infrastructure Working conditions Equitable allocation of resources Accesses robust data systems The “right” employees Leadership Salaries Development Employees performance

The Components of a 21st Century Human Capital Management System :

The Components of a 21 st Century Human Capital Management System Preparation Sourcing Recruitment Screening Hiring Placement Certification Induction Orientation Mentoring Reduced working load Differentiated Employee Dev. Tenure Training and Development Performance Management Compensation and Non-monetary Rewards

Preparation :

Preparation Higher education and Alternative preparation Certification add-ons and endorsements

Sourcing:

Sourcing Recruitment Sophisticated Data and Data Systems to Predict Needs Recruitment Focus on High Performance

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Screening As per Performance-based Standardized, Ease of use As per job requirement

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Hiring Early offers Successful pre-service employees Competitive timelines Industry-based selection recommendations

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Placement Customer need and equity Reduced loads Strong mentors

Certification and Induction:

Certification and Induction Certification Induction Aligned with employee effectiveness Four Pronged Approach Orientation Mentoring Reduced Working Load Differentiated Organization Imbedded Professional Development

Training and Development:

Training and Development Professional Development Identification of High-potential Employees Career Management Career Pathways

Tenure:

Tenure Based on: Employee performance Assessment of working skills Responsibility and accountability

Performance Management:

Performance Management Expectation Setting Assessment Calibration Feedback Outcomes

Compensation:

Compensation Organizational priorities Performance-based Differentiated Aligned with workforce data Includes incentives for short and long term service Includes future orientation

Non-Monetary Rewards:

Non-Monetary Rewards Recognition Freedom Opportunity Team work Excellent working conditions Sources: Allen, R. &Helms, M. (Fall, 2002). Employee perceptions of relationships between strategy rewards and organizational performance. Journal of Business Strategies, 19(2). 115-139. Jimenez, R., (October, 1999) Managing employee retention through recognition. T+D, 53 (10) 53-55 Nelson, B., (January, 2004) Everything you thought you knew about recognition is wrong. Workplace Management (from www.workforce.com)

Conclusion:

Conclusion Bringing organizational distinctive Human Resource practice into the 21 st century will be challenging. If customer achievement is the goal, recasting the Human Resources focus will require bringing dedicated and highly skilled professionals from education and the private sector together to solve complex problems in cross functional teams. Human Resources in the organization can no longer operate as stand alone departments. Multifunctional teams from HR, Instruction, Finance, Technology will need to integrate processes and services.

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