Human Capital Revolution

The Human Capital Revolution

 At this "Information Age” strategic value is shifting from tangibles assets to intangibles. Assets are increasingly based on knowledge.

Among companies increasingly valuable intangibles which include intellectual property, brand value, and customer relationships- The most vulnerable to loss is human capital.  

Leading companies working strategically with clear direction to engage their employees and also to be employers of choice that attract the best candidates to start with. Though recruiting and retention are separate issues that each requires specific business processes, a strong understanding

Centralization of HR efforts: This brings together expertise formerly distributed throughout the organization to create a center of excellence.

 Specialization: Aided by centralization, developing specialist practices within recruiting allows innovation around key functions like workforce planning, hiring process management, business analysis and others.

 Focused recruiting: Recruiters can spend more time on activities focused on identifying successful professionals who are most likely to offer your company high value and the least likely to be in the general pool of job-seekers.

With referacne to various article published on Internet, I understand it is important to measure recruiting success against overall business goals and communicate these metrics within the HR organization and the larger enterprise

 Similarly, employee retention requires business processes that combine measurement, training and collaboration.

Beyond the top-line strategic value of proper management of human capital, a strong retention program can offer dramatic cost savings and productivity gains. Turnover is a business problem in every industry and requires a strategic, process-based retention program to stop the losses and enable human capital value creation.

 In current scenario, HR is expected  to deliver business results on a much tighter budget. HR leaders need to develop business cases for any proposals to spend money on initiatives related to recruiting, training and retention efforts.

 Preparing for a Changing Role: To rise to the challenges of the strategic role brought by shift to human capital management. Below are changes Recruitment team need to do

• Partner with line managers who will need guidance in strengthening their talent pool.
• Help to build the link between business strategy and talent.
• Serve as the thought leaders in understanding the new trends and techniques to attract talent.
• Facilitate the talent review process and help leaders execute the action plan.
• Become the expert to develop strategy for the specific group of 10 managers.
• To perform the strategy role as well- Moving from transaction to transformational and also automate the process.

 HR Team have been steadily increasing their ability to drive business results while positively influencing the quality of work life among their companies' employees. Human capital management provides an opportunity for thought leadership about the links between job satisfaction, employee alignment, productivity and value creation. The real challenge is to drive these insights into integrated processes; competitive advantages will grow to those companies that maximize the benefits of strategic human capital management more quickly than the competition can.

Whats trending .....

1. Collaboration via Social Connections  - Utilizing social media in your recruiting strategy will increase your visibility to top candidates that may not apply directly to your open positions, or have their resumes posted on job boards. 

2.Sourcing for top candidates for passive hiring - Hire whenever top talent becomes available. Top talent enter and exit the job market over a matter of days. Recruiters must shift from their traditional recruiting model and able to find a top candidate even if there is currently no vacant position. 

3. More attention on candidate experience on hiring- Make positive experience which will become a reflection of organization hiring process.

 4.Mobile services - Developing mobile-enabled application process to truly engage today’s job seekers. as they should come to know about the company and its positions as well as apply directly from their devices and upload resumes.

 5. New and Existing Employee Referral - Referrals are the best source of getting quality and quantity profiles currently untapped by the market. Employees can potentially exceed even recruiters in in identifying, building relationships, and selling top people who are not active in the job market.

Lets Celebrate Change....