Procedia Economics and Finance
Added on 2021-04-19
6 Pages1102 Words231 Views
Leadership Management
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Running head: COMPREHENSIVE SUMMARY OF CHOSEN ARTICLESWriting a comprehensive summary of all the points rose in the HBR article "What if companies[...]"Name of the student:Name of the university:Author note:
1COMPREHENSIVE SUMMARY OF CHOSEN ARTICLES1)https://hbr.org/2017/05/what-if-companies-managed-people-as-carefully-as-they-manage-moneyA comprehensive summary of the article:The article focuses on the difference in approach that management adopts for twodistinguish yet quite vital assets of organization ‘Finance Capital’ and ‘Human Capital’. Financecapital is the monetary assets of an organization. On the other hand, human capital is theworkforce that organization requires to fulfill the different levels of physical needs (Miller, Xu,and Mehrotra: 930-944). The article reveals a very different organizational approach to finance and human capital.Organizations across the globe have their enlarged focus on financial aspects of the business.They look for ensuring a robust control on the financial behavior. They do it with the help ofseveral tools which are popular in the market (Pelinescu: 184-190). However, organizations takea very different approach to the management of human capital. They are comparatively leastbothered for human capital. It may be for certain reasons like they consider only a portion of theentire employee as useful to organizational values. They do their best to ensure that the identifiedfew portion of the entire employee base are retained. They are not focused on retaining the entireworkforce (Pelinescu: 184-190). The fact also highlights a truth that organizations have the least interest in makinginvestments in human capital. Investments could have been made in facilitating training &development programs. Investments are being done on recruiting the professionals; however,such investments are found as limited to the recruitment process only. The training process isgiven the importance for those who are newly recruited whereas very least interest is shown to
2COMPREHENSIVE SUMMARY OF CHOSEN ARTICLESidentify the hidden talents and groom them to help become potential professionals (Miller, Xu,and Mehrotra: 930-944). The article has appreciated the organizational concerns for finance capital; however, italso urges the organizations for managing the human capital. It raises the necessity to havewidened views on making investments to improve the human capital. It also shouts forincreasing the area of concerns in regards to the workforce which means that a major portion ofemployee needs to be retained to make an appropriate utilization of human capital (Pelinescu:184-190). 2) http://open.lib.umn.edu/principlesmanagement/chapter/16-4-the-war-for-talent/Answer to Q1:Talent management evaluation can help to understand the type of employees that haveadjusted better with the organizational culture. Moreover, the management will then be able toset the eligibility criteria as according to the culture which has suited the most to employees inpast (Deery and Leo: 453-472). This has certain benefits like there will be the reduction inemployee turnover. This is so because the management will in most cases recruit the employeeswho can adopt the organizational culture. By closely monitoring the employee behavior in pastand constructing the guidelines based on the data, will ensure a maximize success in attracting amost feasible workforce for the company (Deery and Leo: 453-472). Answer to Q2:The make or buy option means a two very dissimilar face of human resource whichensures a robust talent management. ‘Make' means training the existing employees whereas ‘buy'
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