Compete Strategize With Human Capital By Dr Ekta Sharma

  Meaning of Competency Mapping   A competency mapping model is an organizing framework that lists the competencies required for effective performance in a specific job, job family (e.g., group of related jobs), organization, function, or process.   Individual competencies are organized into competency models to enable people in an organization or profession to understand, discuss, and apply the competencies to workforce performance.   Competency Mapping is a process of identifying key competencies for an organization and/or a job and incorporating those competencies throughout the various processes (i.e. job evaluation, training, recruitment) of the organization. Competency Mapping can be defined as a process through which one assesses and determines one's strengths as an individual worker and in some cases, as part of an organization. The individual’s level of competency in each skill is measured against a performance standard established by th...

  Impact of HR practices & policies on the knowledge sharing in a firm   Let us briefly examine some of the HR processes and practices that should be aligned to strengthen knowledge management. At the stage of induction of new executives into the organization, coaching and mentoring systems are meant to transfer knowledge, exposure during training to variety of functions, units and geographical locations helps knowledge awareness / transfer. Employees will benefit from "Mentorship," not only during the initial months but also for a long time after that. The role of the mentor in the later period would be to challenge the executive to look beyond the obvious, look for past learning and base decisions on a more informed platform. Job rotations : Well-planned job (role) rotations across geographical locations and businesses in a firm help not only people development, but also provide an important vehicle for transfer of knowledge and best practices, even though an o...

 Value of Human Capital Of course, human resource professionals have long understood the value of human capital and they have struggled to find a way to communicate this value. That is the very essence of human resource management today: to define the value of human capital, to find ways to accurately measure it, and to ensure the investment in and protection of this human capital. Anything less, and HR professionals have failed their organizations. And yet this process is replete with problems and obstacles. Calculating the value of our employees is difficult because they are not like any other asset; they are simultaneously the greatest potential asset and the greatest potential liability that an organization has at any given time. They are the only intangible asset that can be influenced but never completely controlled. A company can invest heavily in its human capital, or it can waste it without a care. Either way, the human capital still has its inherent value, but perhaps...

 THE STRATEGIC ROLE OF HUMAN RESOURCE MANAGEMENT The Human resource function has to always prepare a promising case for any activity that they propose as it is perceived as expenditure by the financial heads. The HR budgets are pared the first in the times of financial crisis. The field of SHRM, facilitates the HR department  to demonstrate the value of HR function to the organization In 1984, Devanna,  Fombrun and Tichy could link the HR and corporate strategy and laid the foundation for new field in HR i.e. SHRM. SHRM focuses on aligning human capital with the corporate strategy to increase competitiveness of the organization. According to Aswathappa (2004), “the advent of SHRM has brought forward the issues of linkages between the employer-employee relationships and wider organizational strategies and corporate objectives”.  Since, the ‘employee’ is at centre of the business as the competitive advantage, the role of SHRM becomes critical.  The organizational ...

The world around us is dynamic. Some time ago we discussed being in VUCA world and strategizing the sustenance accordingly. VUCA is the acronym for  Volatile, Uncertain, complex, and ambiguous.  This was related to the concept ' Change is the only permanent aspect in the world' and we witness that the one who can unlearn and relearn quickly to adapt to the changing environment is the one who survives. Oh!! that looks like Charles Darwin's theory of the 'survival of the fittest'. Very true!!! why did dinosaurs extinct? We all know the answer- the dinosaurs could not adapt to the changing environment.....  That remains true for us today.  Adapt or perish!!! So, the VUCA world pointed towards these uncertainties, ambiguities, volatility and complexity. The term VUCA was popular in 1980's when the cold war stuck the world and it referred to the conditions of the planet in those times and later it was swiftly adopted by business philosophers in 2000s for the formulat...