What is human capital management?

Human capital management is strategic treatment of the company's employees, so their attributes are used to ensure the best economic value. It includes quantifiable elements such as skills and experience, along with less easily measured features including personality and influence. The core of practice is the belief that the labor force is part of the company's capital like other assets such as land, buildings and equipment.

Successful human capital management usually begins with the process of recruitment and recruitment. Employees dealing with this task can do several things to increase the likelihood of hiring and maintaining a strong employee. Before talking to candidates, it may be useful to consider whether the position offered is well defined and that anyone who participates in the recruitment process understands what it requires. During the hiring process, there are some things to consider whether the candidate has skills for this position and whether the person is well fith culture of society and the department. This may include current skills, abilities, which can be improved by training and congenital features that employees would make it easy to pick up and perform a certain skill. The personality test can also help determine how the employee is likely to work with others and how the specific characteristics of this person can be used most effectively.

The ongoing process of human capital management includes analysis, monitoring and management of the elements of the company that affects employees. This may include politicians, special programs and training. Some companies can also regularly analyze the costs and benefits of employees to ensure that they have operating costs.

Human capital Managemorl may also include monitoring of the external resources of each individual. This is primarily about what can have a professional and personal connection that an employee can have, which can help the company achieve its goals. Another important factor thatIt is necessary to consider, the characteristics of people in the network of employees such as their skills, resources and loyalty to employees.

One of the least tangible aspects of human capital management is gaining knowledge of the most influential personal features of the employee. It may be useful to understand what effect each individual has in the workforce on internal and external sources. This may be particularly useful to know when deciding to promote inside and finding new leaders.