There is a strong link between Human Capital Management and Organizational Performance. Organizational effectiveness largely depends on having the right people in the right jobs at the right time to meet rapidly changing organizational requirements. Right people can be found by following best practices for human capital management.
The management of people within the organization has become increasingly important. Therefore, human resources function of an organization should not just handle recruitment, pay, and discharging, but also should maximize the use of an organization’s human capital in a more strategic manner. For example, they should become more employee-centric by focusing on enhancing employees’ engagement and organizational commitment.
In today’s competitive world, organizations strive to achieve high levels of competency and competitiveness. Human capital management practices are known to contribute effectively towards profitability, quality, and other goals in line with the mission and vision of an organization. However, in order to be effective, it requires the coordination of planning, implementation, and assessment across all departments of an organization.
As a good leader you can make all the difference in the way employees operate within your organization by utilizing the “human capital management” concept. In fact, Gallup estimates that leaders account for at least 70 percent of the variance in employee engagement scores across businesses.
Here are a few tips that can help you improve the way you manage your people:
Know your employees by name and use them often - It is not uncommon for employees to feel unimportant or like one of many, especially in the vast ocean of employees in a large organization. Though you may not interact with all employees frequently, ensure you know who each employee in your organization is and what is it that they bring to the table. Maintaining employee profiles can help you keep track of important employee facts such as date of hire, roles, and background of skills.
Recognize employee achievements - Another way to boost employee engagement is to celebrate employee milestones and other important events. Make an effort to keep track of these important events and keep team members in the loop to help you execute these celebrations.
Fast – track the approval process – If an employee has requested for a time off ,ensure that you respond quickly. This is for the sole reason that they should be able to plan their lives outside of work, and anything that makes that more difficult can make employees feel anxious or discouraged. This holds true for work related approvals as well because if you don’t provide feedback in time they may begin to overanalyze or doubt their ideas as they await feedback.
For an organization, its employees should hold incredible value as they are the ones who are both responsible and capable of doing great things. But in order for them to operate at peak performance, they need a good leader. At The Taplow Group, we help organizations source the talent they seek. For more information on our services, visit us at www.TaplowGroup.com.