4 Key Principles of HR Management and Human Capital Strategy

Human resource management is the formal system that is in place in an organization in which they employ it to handle and manage the employees of the organization.

In a human resource management, there are 4 elements that outline the key principles. Each of these elements requires careful planning and close maintenance to ensure a seamless operation throughout the organization.

The 4 key principles are:
Acquisition – The manpower planning and employee recruitment are categorized under acquisition where a close assessment and consideration on candidate’s profile needs to be done in order to ensure relevance to the organization’s goals and requirement

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Development – There are many training plans and modules that are used under the development aspect of Human Resource Management. Through these, the employees are constantly provided with skills and capabilities to increase their value to the organization

Motivating – Keeping the employees positively motivated through performance management, career plan, and productivities are key aspects in Human Resource Management

Maintenance – A good organization is not just concern about building a good company, but also in maintaining it through sustainable manpower. This is where the Human Resource Information System plays an important role as the needs to be a channel in which the employees can communicate their concerns

Acquisition
For any company, hiring candidates is one of the most important aspects of building and moving the company forward. It’s imperative for the Human Resource Management to ensure that the hired candidates are able to not only fit into the company’s culture, but also contribute to its goals, mission, and vision.

For this, manpower planning comes into place. This planning has to align with the company’s strategy in hiring candidates both effectively and efficiently so that it’s cost efficient yet also rewarding to the company.

The Human Resource Management needs to ensure that every step of this manpower planning are closely monitored and executed efficiently. Understanding what is required in each step will allow a seamless operation in the acquisition aspect of the organization.

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When recruiting, it’s important to know and understand how to determine the number of recruits required. The process starts with the analysis of the employment trends for the organization. A close study on the company’s past employment needs will help to provide a good picture of the company’s future recruiting needs. It’s also imperative to make a ratio analysis in order to understand the number of future staffs required by rationing the sales/productivity volume against the number of employees needed.

Through this, recruiting can be a cost efficient procedure that will not spend much on unnecessary methods and/or approaches.

In order to strengthen and sustain the organization, it’s vital to look at what kind of people you’re looking to hire. Hiring a candidate with extensive experience for the job is valuable. However if the candidate is one with a wrong workplace attitude, it’s not going to be a wise decision as the importance of hiring the right people the first time is unquestionable.

To do this, there are several selection tests that can be conducted prior to making a decision on hiring a candidate. The cognitive ability test, personality test, and of course, the interview can help a recruiter to make an informed decision about a candidate. By assessing the candidates’ general mental ability, intelligence, personalities, and overall demeanor will give a recruiter a good idea whether a candidate is valuable enough to be hired.

Employing the right technique in determining the right number of recruits required as well as screening for the most suitable candidate will go a long way in ensuring the organization’s success and longevity.

Development
Once the right candidates have been hired, Human Resource Management needs to equip these employees with the right skills through training. These training sessions aren’t limited to newly hired, but also required and important for the development of existing employees.

Training is the systemic method of altering an employee’s behavior by introducing new behaviors towards the direction that is aligned with the company’s goals. Supplying employees with training can help them to build the right attitude towards the company’s culture, empower them to perform their best, and motivating them to strive for the company’s productivity.

There are 5 elements in training and development for any organization. These elements are:

Orientation – The first step of introducing the organization goals, mission, vision, and culture to a new employee. This step also involves an introduction to the employee’s work unit

Employee Training – This step is essential in equipping the employing with the right skills and knowledge in order for the employee to perform better in his or her task

Employee Development – Through this step, the employee can better him or herself within the organization for future positions. The employee will need additional skills and knowledge to suit these future positions

Career Development – With the help of supervisor, an employee can draw out his or her career goals within the organization

Organizational Development – This step requires the Human Resource Management to deal with the facilitation of system-wide changes to further improve the organization

The basic objective of a training session for the employees is to transform competent workforce into a more efficient team by bringing them up-to-date with the required skills, knowledge, and abilities.

Through these, the new and more efficient workforce will be able to perform better and achieve higher productivity while being motivated at the same time, as they are now equipped with the right skills and knowledge.

Training sessions need to be carefully planned and efficiently delivered in order to ensure maximum retention by the employees.

Training for the employees can be delivered by in-house trainers or through invitation of external trainers for certain modules. Either way, the process flow of an effective training session remains the same to make sure not only the objectives of the training is met, but also the knowledge is imparted effectively and successfully.

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