Introduction 6 Step 1 – Setting human capital management in context 10 Step 2 – Getting started: gathering and collating the data 21 Step 3 – Measuring human capital: tools and methodologies 27 Step 4 – Reporting the data: from internal to external reporting 34 Step 5 – Developing a route map to human capital reporting 40 Case Studies 1 Engaging employees to drive business performance – Standard Chartered 44 2 The service–profit chain
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visibly illustrates that the human resources function fully understands and supports the direction in which the organisation is moving. A comprehensive HR Strategy will also support other specific strategic objectives undertaken by the marketing, financial, operational and technology departments. In essence, an HR strategy should aim to capture "the people element" of what an organisation is hoping to achieve in the medium to long term, ensuring that:- • • • • it has the right people in place
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resource management strategy plan 1.1 The word strategy means a long term planning or aim to achieve the specific purpose. Human resource management is based in the efficent use of employees. The main purpose of human resource management is to use of skills and abilities of employee in such a way to achieve the desired result of operational objectives that are utmost aim of organisation. Strategic human resource management is an approach that defines how the organisation goals
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organizations processes and procedures. Figure 1: The 4-P cycle of continuous improvement There is however minor improvements on their approach to the TQM / BEM models. They should make use of the balance score card to measure their performance against it. This could quantify and qualify their success and be measured. There are five elements to strategy that they must take into account: 1. Sustainable decisions: what is to be done? 2. Processes and projects to deliver strategy: How
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resource management is a strategic approach to managing employment relations which focuses on leveraging individual's abilities and commitment which is critical to accomplishing sustainable competitive advantage. This is achieved through a distinctive set of integrated employment policies, programmes and practices embedded in an organisational and societal context. Activities which are performed by HRM are mainly strategic planning, staffing, recruitment and selection, performance management, training
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Organisations can gain a competitive advantage through managing people effectively. “Achieving competitive success through people involves fundamentally altering how we think about the workforce and the employment relationship.” (Pfeffer, 2005) Pfeffer argues that wage compression and symbolic egalitarianism are practise that can be used in order to gain a competitive edge. Wage compression is flattening out the differentials between the highest and lowest paid jobs. Wage compression can create a
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extrinsic needs |Page 8 | |The impact of organisational performance management processes on motivation |Page 9 | |Management styles within the organisation and the impact of these on motivation |Page 12 | |The expectations on managers relating to management of motivation levels and how these are communicated and |Page 13 | |encouraged
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implemented in some organisations, thus these organisations will have a higher performance work system and increase the economic value to the organisation. There are eight strategic human resource management practices that can be chosen, such as analysis and design of work, HR planning, recruiting, selection, training and development, compensation, performance management, and last but not least, employee relations. The terms human resources (HR) and human resource management (HRM) have greatly substituted
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MODELS OF HUMAN RESOURCE MANAGEMENT (HRM) UNIT 10 SHRM, SESSION 2 P R E PA R E D B Y: M S S H A B N A M Unit 10 SHRM, Prepared By: Ms. SHABNAM LEARNING OBJECTIVES By the end of this session students will be able to: Understand the HRM system Explore various models of HRM To gain an understanding in relation to the application of the various HRM models within organisations Unit 10 SHRM, Prepared By: Ms. SHABNAM HRM SYSTEM HRM system operates through HR systems that bring together in
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to the public service workforce. The contribution of employee engagement to organisational performance is central to many of the human capital reform initiatives advocated in Ahead of the Game: Blueprint for the Reform of Australian Government Administration. Importantly, there is an open question on whether the features of employee engagement in the public service differ from that of other organisations. The Australian Public Service Commission is working with other agencies on clarifying not only
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