Strategic Human Capital and Talent Management: An Introductory Report

This report provides a comprehensive introduction to human capital and talent management, covering essential concepts and trends in Human Resource Management (HRM). It begins by illustrating the importance of HRM to all managers and outlines key functional areas such as staffing, human resource development, performance management, compensation, safety and health, and employee and labor relations. The report emphasizes the strategic role of human resources, defining human capital and its impact on organizational success. It also explores the dynamic human resource management environment, including legal considerations, labor markets, societal influences, and technological advancements. Furthermore, the report highlights important trends influencing HRM, such as globalization, economic downturns, technological innovations, and changes in workforce demographics. It discusses the implications of these trends, offering insights into how HRM practices must adapt to remain effective and competitive in today's business landscape. The report also covers the roles of line and staff managers, HR shared service centers, and outsourcing in performing HRM activities, and provides real-world examples to illustrate key concepts. This report is a valuable resource for anyone seeking to understand and navigate the evolving field of human capital and talent management.

INTRODUCTION TO HUMAN CAPITAL
AND TALENT MANAGEMENT
Copyright © 2013 Pearson Education
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Rok Pintar - [e-mail]

 New Jersey-1990s’
 Store managers were quitting after a few months
 Lack of constant leadership
 employee turnover rate was 300% (1 position filled 3x in a year)
 Constantly had to find, hire & train new workers
 Brandon the chief executive doubt it was due to pay
 Emphasized on hiring, extensive coaching & opportunities to
earn promotion
 Employee turnover rate fall
1-2Copyright © 2013 Pearson Education

L EARNING OBJECTIVES (1)
 Explain what human resource management
is and how it relates to the management
process.
 Show with examples why human resource
management is important to all managers.
 Illustrate the human resources
responsibilities of line and staff (HR)
managers.
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L EARNING OBJECTIVES (2)
 Briefly discuss and illustrate each of the
important trends influencing human resource
management.
 List and briefly describe important traits of
today’s human resource managers.
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RECOMMENDED READINGS
 Human Resource Management (14th Edition), Gary Dessler –
Chapter 1
 The Impact of Strategic Human Resource Management on
Organizational Performance, Luftim CANIA, Economia: Seria
Management, Vol(17), Issue 2, 2014.
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THE MANAGEMENT PROCESS
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SIX functional areas
• Staffing
•Human Resource Development
•Performance Management
•Compensation
•Safety & Health
•Employee & Labour Relations

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1. STAFFING
 Determining what type of people you should hire;
 recruiting prospective employees;
 selecting employees;
 training and development;
 setting performance standards;
 evaluating performance; counselling performance;
 compensating employees.

Consist not only of training and development but also of career
planning and development activities, organization development,
performance management and appraisal.
 Training: Activities designed to provide learners with the
knowledge
and skills needed for their present jobs.
 Development: Process that involves learning that goes beyond
today’s
job; it has a more long-term focus.
 Career planning: Ongoing process whereby an individual sets
career
goals and identifies the means to achieve them
 Career development: Formal approach used by the organization
2. HUMAN RESOURCE DEVELOPMENT

3. PERFORMANCE MANAGEMENT
A goal-oriented process to ensure organizational processe
are in place to maximize the productivity of
employees,
teams, and ultimately, the organization.
 Performance appraisal: A formal system to review
and evaluate individual or team performance.

4. COMPENSATION
All rewards that individuals receive as a result
of their employment.
 Direct Financial Compensation: Pay that a person receives in
the form of wages, salaries, bonuses, and commissions.
 Indirect Financial Compensation (Benefits): All financial
rewards that are not included in direct compensation such as paid
vacations, sick leave, holidays, and medical insurance.
 Nonfinancial Compensation: Satisfaction that a person receives
from the job itself or from the psychological and/or physical
environment in which the person works.

5. SAFETY AND HEALTH
Employees who work in a safe environment
and enjoy good health are more likely to be productive an
yield long-term benefits to the organization.
 Safety: Activities involved in protecting employees
from injuries caused by work-related accidents.
 Health: Activities involved in securing the employees’
freedom from illness and their general physical and
mental well-being.
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ZIKA VIRUS PLAGUES 38 CONSTRUCTION WORKERS IN
SINGAPORE
HRM A SIA - 30 AUG 2016
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locally-transmitted Zika virus infections in
Singapore, 38 were workers from the Sims
Urban Oasis condominium construction site
in Aljunied