Human Capital, Human Resources Training

The Role of Human Capital in the Global Workplace

Difference-between-Human-capital-and-human-developement

What is the one asset that organizations all over the world, no matter where they are located and what business they do, need to nurture? What is that one indispensable element for organizations to grow and stay ahead of the competition? Is it technology? Yes, but there is something that is more important than technology, and is in fact, the factor that gives rise to innovations in technology and other areas of business.

Isn’t it the organization’s employees who do all these? If employees don’t make the organization, who or what else does? Many people like to think of technology as the moving force and the key differentiator for organizations. This is true, but only superficially. If there is one source that technology, best practices, leadership and everything else evolve from and converge into, it is the organization’s employees, right? Does technology fall from the skies? Do best practices get implanted into the organization out of thin air? Does management consist of robots?

Isn’t the human factor at the core of all these? In other words, isn’t it humans that constitutes the soul of organizations? What are all these factors if they did not originate from humans? What are all these if they didn’t have humans shaping and channeling them, helping the organization optimize them? This is that all-important element that makes or breaks an organization, and that is the human capital.

An understanding of human capital

From the business perspective, human capital can be understood as being the collection of all the knowledge and skills an organization’s varied resources that go on to shape its very being. The OECD describes human capital this way:

The knowledge, skills, competencies and other attributes embodied in individuals or groups of individuals acquired during their life and used to produce goods, services or ideas in market circumstances.

This definition makes human capital a very broad topic. When one extends human capital to the overall economy, it becomes an even wider canvas. For the purpose of this article, we will examine human capital from an organization’s perspective.

For an organization, human capital could consist of the employee’s strength in almost all areas that matter to the organization. Anyone who brings any skill of any degree is part of the human capital. Let us understand human capital from the standpoint of what capital itself means: a means for generating assets. Just like how investment is used as a means to generate wealth, in an organization, anyone that contributes to its growth is a human capital resource. The skills and talents, along with the experience and qualification each of its employees brings, are all part of the human capital.

So, in a broad sense, one can think of human capital as consisting of the tangible and nontangible assets that contribute to the organizations. Typically, one can think of the these among other elements as being part of human capital:

  • Creativity and innovation
  • Educational and skills qualifications
  • Emotional Intelligence
  • Experience
  • Interpersonal skills
  • Talents
  • Skills at communication
  • Best practices
  • Constructive habits
  • Positive thinking
  • Personality

Read more : https://www.trainhr.com/control/role-of-human-capital-in-global-workplace

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Equal Employment Opportunity (EEO), Human Resources Training

Equal Employment Opportunity (EEO) is an Important Shield Against Discrimination in the Workplace

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Organizations are bound by the EEOC. If they have to be compliant with employment regulations, one of the most important things to do is to adhere to the EEOC.

Equal employment opportunity is a prominent hallmark of Affirmative Action in the US. The Equal Employment Opportunity Commission (EEOC) came into being to ensure equal employment opportunity in the US. Such recognition is all the more prominent in this multicultural country, whose organizations attract people from all over the world.

First, What is Equal Employment Opportunity?

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It is an employment practice that is guaranteed by a Federal legislation, the Equal Employment Opportunity Act (EEO). Passed under Title VII of the Civil Rights Act of 1964; the EEO prohibits an employer employing 15 persons or more from discriminating against any person seeking employment, on the basis of these five factors:

  • Race
  • Sex
  • Color
  • Nationality of origin
  • Religion

Related legislations

A few supplemental statutes have been added to strengthen the provisions of the EEO. These include:

  • Vietnam Era Veterans Readjustment Assistance Act of 1974
  • Americans with Disabilities Act (ADA) of 1990
  • Age Discrimination Act
  • The Rehabilitation Act
  • Genetic Information Nondiscrimination Act of 2008
  • Employment Non-Discrimination Act, which is yet to be passed by Congress

Read more  :  https://www.trainhr.com/control/equal-employment-opportunity 

HR audits, Human Resources Training

Conducting Consistent and Periodic HR Audits is a Healthy Practice

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It is essential for HR to audit a host of its practices and functions. This audit is meant to ensure that the organization stays on course with its goals.

HR, which conducts the organization’s various coordination functions, has to have its house in order. It should have its own machinery well lubricated, so to speak. Being the cog in the organizational wheel, which oversees an organization’s whole set of processes, HR should be well equipped to carry out periodic and set audits.

Why does HR need to carry out Regular Audits?

  • It helps the organization keep up-to-date with employment laws and regulations;
  • It needs to ensure compliance with employment rules and best practices;
  • These HR audits are a means to ensuring that the organization is on track with its goals and visions;
  • Regular Audits ensure that the organization’s work processes are streamlined;
  • They help to identify issues before they snowball into crises.

read more :  https://www.trainhr.com/control/hr-audit-techniques 

global workplace, Human Resources Training

The Role of Human Capital in the Global Workplace

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What is the one asset that organizations all over the world, no matter where they are located and what business they do, need to nurture? What is that one indispensable element for organizations to grow and stay ahead of the competition? Is it technology? Yes, but there is something that is more important than technology, and is in fact, the factor that gives rise to innovations in technology and other areas of business.

Isn’t it the organization’s employees who do all these? If employees don’t make the organization, who or what else does? Many people like to think of technology as the moving force and the key differentiator for organizations. This is true, but only superficially. If there is one source that technology, best practices, leadership and everything else evolve from and converge into, it is the organization’s employees, right? Does technology fall from the skies? Do best practices get implanted into the organization out of thin air? Does management consist of robots?

Isn’t the human factor at the core of all these? In other words, isn’t it humans that constitutes the soul of organizations? What are all these factors if they did not originate from humans? What are all these if they didn’t have humans shaping and channeling them, helping the organization optimize them? This is that all-important element that makes or breaks an organization, and that is the human capital.

An understanding of human capital

From the business perspective, human capital can be understood as being the collection of all the knowledge and skills an organization’s varied resources that go on to shape its very being. The OECD describes human capital this way:

The knowledge, skills, competencies and other attributes embodied in individuals or groups of individuals acquired during their life and used to produce goods, services or ideas in market circumstances.

 

Know more about Human capital in the global workplace

 

disability management, Human Resources Training

Why is Disability Management Important at the Workplace?

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Disabilities are of various kinds. In a broad sense, most of us are born and live with one or more disabilities. Contrary to the generally perceived association of disability with only the physical aspects of a person, mental, professional, legal and social disabilities are taken seriously in the workplaces of some countries.

However, from a legislative point of view, a disability has a clear definition. Various countries and organizations have their own definitions of disability. For example, the World Health Organization defines disability thus:

“an umbrella term for impairments, activity limitations and participation restrictions. Disability is the interaction between individuals with a health condition (e.g., cerebral palsy, Down syndrome and depression) and personal and environmental factors (e.g., negative attitudes, inaccessible transportation and public buildings, and limited social supports)”.

Employees with disabilities face problems that are peculiar to their condition. They could have difficulties reaching office on time safely. They could have issues concerning access to basic amenities like lifts, toilets, etc. Over the years, the increase in the level of awareness about disabilities has led to legislations that have resulted in the need to formulate laws concerning disability. Most countries have laws concerning disability.

Disability management

A disability management program is one that is aimed at implementing actions that facilitate a workplace that is amenable to the needs of the disabled employees. It suggests a series of well-defined, coordinated actions that make the work environment friendly towards employees with various disabilities, physical or emotional.

A disability management program is a legal, comprehensive framework that takes into consideration the needs of the employee, the organization and the family of the disabled employee.

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The importance of disability management at the workplace

Disability management is a program that organizations implement in organizations with the intention of meeting many objectives:

  • The most important of these is that the person with the disability should lead a life of dignity. Giving attention to the unique needs of disabled employees facilitates greater productivity from them and instils a sense of accomplishment and self-worth in such employees
  • Making the workplace friendly to the needs of disabled employees raises the reputation of the organization and gives it the image of being a caring one and as an implementer of corporate social responsibility
  • It enhances the trustworthiness of the organization in the eyes of the disabled employees and their families, and with other stakeholders such as the investors, the government, and the general public
  • Such employees will be able to work and earn more, leading to enhanced savings over longer periods of time

Elements of a disability management program

A disability management program should be a well-rounded one that the organization implements in consultation with the disabled and other employees, the families of the disabled employees, their doctors, and the management

It involves understanding the emotional and physical needs and challenges of the disabled employees and taking steps to mitigate them, such as offering leave benefits, transportation facilities, designing the workplace in such a way that it becomes conducive to them, and so on.

Employers who implement an effective and legally compliant disability program are shown to experience greater productivity. Such organizations give employees with disabilities fewer reasons to abstain from work, thus gaining in productivity by making their workplace favorable to disabled employees. This means that the employers themselves have a lot to gain from implementing an employee disability program.

hr best practices, hr policies, Human Resources Training

How do Stay Interviews Help in Employee Engagement and Retention?

stay-interview

As the organization’s HR, do you have a suspicion that any of your employees could be planning to leave the company soon? In such a situation, the best thing that HR can do is to not let it remain a suspicion, but to talk about it. Nothing beats free and open communication when it comes to gauging if an employee is leaving. This alone clears any doubt that the organization could be having about an employee’s intention to stay on or leave.

However, the basis to initiating an open and frank discussion about employee’s impending decision is solid credibility. HR has to have solid information and supporting documentation to the effect that a person, especially a key person, is planning to leave. HR will end up making a fool of itself if it talks to an employee about her plan to leave based purely on hearsay. If the gut feel goes wrong, it will throw up a very awkward situation.

While this is one part of the story, initiating the discussion has its own dynamics and sensitivities, which a mature and experienced HR professional needs élan to handle. To start with, the discussion should not be based on any generalities, but on specificities. This interview, called a stay interview, should be based on concrete action plans that HR could have for the employee who plans to quit.

Retaining top talent is crucial

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The crucial element of a stay interview is that HR and management should be on the same page. Management buy in is the key to starting this decision. HR and management should assess the impact of a person’s departure from the organization as the first step. If both feel that the key person’s leaving is going to impact the organization in a big way, the stay interview should be arranged. It should show that the organization is seriously interested in retaining the resource.

Putting every effort to retain the talented employee is very important for the organization: a recent Harvard Business Review article entitled “How to Keep Your Top Talent” warns that a quarter of an organization’s top talent plans to leave in a year of joining.

Understand the ways of carrying out a stay interview

effective-interviewing

The ways by which to conduct a stay interview effectively is the learning a webinar from TrainHR, a leading provider of professional trainings for the human resources industry, is offering. Marcia Zidle, CEO of Leaders At All Levels and a board certified executive coach, will be the speaker at this very valuable learning session. Marcia will show how HR should elicit the intention behind the decision to leave.

Please visit TrainHR to enroll for this webinar.

This activity has been approved for 1 HR (General) recertification credit hours toward aPHR, PHR, PHRca, SPHR, GPHR, PHRi and SPHRi recertification through HR Certification Institute (HRCI).

Viewing this webinar, its entirety qualifies for a recertification credit hour that may be counted toward SHRM-CP and SHRM-SCP recertification from SHRM. Credit is awarded based on the actual educational time spent in the program.

A stay interview is different from an exit interview or an employee engagement survey

A stay interview is quite different from a performance appraisal interview, where HR assesses many aspects of work. A stay interview is also different from an employee satisfaction survey in a number of ways. It is not a form that is filled up and submitted. It is mainly about estimating the level of involvement in the company, and what can be done to keep the employee in the organization.

The main intention of the stay interview is to probe why the employee is planning to leave. It gives the opportunity for a two-way conversation in which the employee is free to tell what she wants to, because it is almost certain she has an offer on hand, and has nothing to lose by opening up.

Consisting of a standard and structured, yet informal set of questions, the stay interview should elicit the reasons for which the decision is being taken by the employee. It should try to see what all it can do to make the employee stay back. HR should ideally spend half an hour in narrowing its questions down to the exact situation at the employee’s end.

HR has to understand if the decision to quit is triggered by considerations that could range from the pay to the growth opportunities and the level of their engagement. The stay interview should also not be something done as a formality, just asking the employee on her last working day why she is leaving.

All these aspects of a stay interview will be explained at this webinar. Marcia will cover the following areas at this webinar:

  • Identify five key factors that impact an employee’s desire to stay or leave
  • Recognize four possible “triggers” that cause the employee to consider leaving
  • Learn how to ask probing questions and conduct effective, efficient stay interviews
  • Survey a list of eight retention actions to increase employee’s loyalty and commitment
  • Review a sample of stay interview questions and develop your own customized list to ask
  • Discover how to develop stay plans for your employees and manage accountability
  • Develop a simple “how-to-toolkit” that includes who to select, how and when to approach; interview formant and how to handle possible resistance.

 

hr best practices, hr policies, Human Resources Training

Employee Assessment is a vital Tool for Organizations

 

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Employee assessment help organizations identify and define employees that are either assets or liabilities. A great level of care has to be taken into employee assessments

An organization that does not carry out periodic employee assessments is considered lackadaisical. Such an organization is missing out on what constitutes its core function. Employee assessment is an important tool that helps the organization and the employee understand the level of their match to each other. Employee assessment is the prime factor in making appraisals that are an important aid for career enhancement and motivation.

Types of Employee Assessment

Employee assessments are of two types:

  • Self-assessment
  • Assessment by management, led primarily by HR.

A self-assessment form, as this self-explanatory term denotes, is filled out by the employee. This is meant to first get an idea of what the employee thinks of her own work during the assessment period and how she rates it.

On the other hand, the assessment by management reflects how the management has perceived the said employee’s work. Both these assessments are then mapped to arrive at an agreed measure. The raise is given based on this common understanding.

Tools for Employee Assessment

Employees are assessed in a variety of ways using tools such as

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Sample Employee Assessment Form

An employee assessment is the process in which these parameters are judged. Typically, an employee assessment form, which would be common to both assessments, serves as a template for making employee assessments.