High-Impact Human Capital Strategy: Addressing the 12 Major Challenges Today's Organizations Face

High-Impact Human Capital Strategy: Addressing the 12 Major Challenges Today's Organizations Face

High-Impact Human Capital Strategy: Addressing the 12 Major Challenges Today's Organizations Face

High-Impact Human Capital Strategy: Addressing the 12 Major Challenges Today's Organizations Face

Synopsis

Traditionally, human resources has focused on recruiting good people, preparing them for assignments, motivating them to perform, and retaining them. These functions remain essential, but to be successful in turbulent times like ours, human capital strategy needs to be broader and much more far-reaching.

High-Impact Human Capital Strategy examines 12 critical forces that must be considered: globalization, changes in workforce demographics, skill shortages and mismatches in labor markets, environmental matters, and more. It shows how to incorporate each into an effective overall plan, and how to translate that plan into action. You'll learn to design human capital programs that:

Connect with business measures • Achieve positive ROI • Ensure critical talent is in place • Boost engagement • Address work/life balance and other social issues • Reduce the need to outsource

Case studies and step-by-step guidelines help you move beyond hiring-training-benefits functions, to develop human capital strategies that deliver measurable value in the face of ongoing challenges.

Excerpt

This new book focuses directly on how to develop a human capital (HC) strategy in today’s turbulent and changing environment. Too often, hc strategy encompasses a classic and traditional approach to human resources (HR): recruiting the best people, preparing them for assignments, motivating them for high performance, and retaining them for several years. While this is all necessary, it is more helpful to have a strategy that fits into the current environment and context. An hc strategy must effectively address the demographic changes in the workforce, current skill shortages and mismatches in labor markets, societal and structural shifts in organizations, the persistent energy crisis, globalization, and important environmental challenges. At the same time, the strategy must be feasible, actionable, measurable, and implemented with remarkable success. This book addresses twelve forces that must be addressed in hc strategy.

Why This Is Necessary

No function, process, or issue in an organization is more important than the human capital managed by the hr department. hc strategies often make great companies, build great products, and deliver great services. Even in governments, a human capital strategy can make the difference between success and failure. a major part of the financial problem in Greece came from its hc issues, as the Greek government created more jobs than needed, paid far too much for them, and provided excessive benefits, making it easy to retire early with large pensions. At the same time, the accountability for the work went away. Every high school graduate wanted to work in a government job. the government grew, overshadowing the private sector as the dominant employer and leaving the country with a staggering debt that is still unraveling. Greece did not have an effective hc strategy.

The hr function is so important that some magazines (e.g., cfo Magazine) have suggested that it should be placed under the direction of the chief financial officer, because it represents the largest expenditure in an organization and has the most promise of creating a very successful and effective organization. Gartner Research has reported that this is now a trend.

While HC’s importance has never been higher, the image of hr is still tarnished, and according to some, it is at a low point. For the most part, hc strategies are driven by the hr executive instead of the top executives. While this is helpful and important for action, it marginalizes the influence of the hr executive. in some organizations, the view of hr is often outdated, still perceived as an administrative . . .

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