Option #2: Managing Human Capital
One of the defining responsibilities of a human resource professional is to effectively manage human capital. There are many strategies and tactics that can be employed, including certain recruitment and selection techniques, compensation incentives, and training and development. In whatever strategies and tactics are taken, the intention is to assist senior management in creating and sustaining a well-structured and well-managed operation. The most important measure of organizational effectiveness for a business is usually expressed in terms of how well its net profitability compares with its target profitability. Additional measures associated with organizational effectiveness can include, but are not limited to, an organization’s growth data and customer satisfaction survey results.
With that background, write a paper that addresses the following:
- Assess the term “human capital” and its relevance for an organization.
- Discuss the role and function of human resources in relation to human capital.
- Present four strategies that a human resource professional would propose to an organization to more effectively manage their human capital, including how a human resource professional would be an integral component of that plan.