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unit 1-Introduction to HUMAN CAPITAL MANAGEMENT
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- 2. Topics ï” Perspectives inHCM and HRM. ï” Relevance , Importance and need for HR intervention. ï” Evolution of human resource management. ï” The importance of the human factor ï” Challenges â Inclusive growth and affirmative action
- 3. Perspectives in HCMand HRM
- 4. Perspectives in HCMand HRM
- 5. Relevance in todayâsBusiness Environment âą HRM provides structure and compliance in traditional roles. âą HCM aligns talent strategy with business goals, enhancing competitiveness. âą Example: Google uses HCM strategies like People Analytics to make data-driven decisions about employee satisfaction and retention
- 6. Googleâs People Analyticsrefers to the company's data-driven approach to managing and optimizing human resources. It involves collecting and analyzing employee data to make evidence-based HR decisions. Key initiatives include: âąProject Oxygen: Identified the qualities of effective managers by analyzing performance reviews and feedback data. âąProject Aristotle: Studied team effectiveness and concluded that psychological safety was the most critical factor in high-performing teams. âąHiring and retention analytics: Uses algorithms to predict which candidates are most likely to succeed and which employees might be at risk of leaving. This approach exemplifies Human Capital Management (HCM) by treating employees as assets whose value can be enhanced through strategic, measurable interventions.
- 7. What is HRIntervention? ï” Alignment with Organizational Goals ï” Employee Engagement and Retention ï” Adaptability to Change ï” Compliance and Risk Management
- 8. Need For HRIntervention ï” The need for HR intervention has intensified due to modern workplace challenges ï” Technological Disruption ï” Hybrid and Remote Work ï” Diversity, Equity, and Inclusion (DEI) ï” Employee Expectations ï” Global Competition
- 9. Key Areas forHR Intervention âąTalent Acquisition and Retention âąEnsures right fit, reduces turnover. âąExample: Unilever's gamified recruitment process improves engagement. âąLearning and Development âąUpskilling workforce to meet dynamic business needs. âąExample: Amazonâs âCareer Choiceâ program pays for courses in in-demand fields. âąPerformance Management âąAligns individual KPIs with organizational goals. âąShift from annual reviews to continuous feedback models (e.g., Adobe's âCheck-insâ). âąDiversity, Equity & Inclusion (DEI) âąPromotes inclusive culture and compliance with global standards. âąEmployee Well-being & Engagement âąReduces burnout, boosts productivity. âąPost-COVID wellness programs include mental health support and hybrid work models.
- 10. Importance of HR Intervention ï”Enhancing Productivity ï” Fostering a Positive Culture ï” Talent Management ï” Driving Innovation ï” Employee Well-being
- 11. Evolution of Human ResourceManagement 1.Early 20th Century â Personnel Management: ï” HRM began as personnel management, focusing on administrative tasks like payroll, hiring, and compliance with labor laws. ï” The focus was on efficiency and control, with little emphasis on employee welfare or strategic alignment (Boxall & Purcell, 2016). ï” Key activities included record-keeping, basic employee welfare, and ensuring compliance with industrial regulations.
- 12. Evolution of Human ResourceManagement 2.Mid-20th Century â Human Relations Movement: ï” The Hawthorne Studies (1920sâ1930s) highlighted the importance of employee motivation and social factors in productivity, shifting focus toward employee welfare (Armstrong, 2016). ï” Personnel management began incorporating training, employee relations, and rudimentary HR policies
- 13. Evolution of Human ResourceManagement 3.Late 20th Century â Strategic HRM: ï” By the 1980s, HRM emerged as a strategic function, aligning human capital with business goals. ï” Concepts like talent management, performance-based pay, and organizational development gained prominence (Ulrich, 1997). ï” HR began focusing on employee engagement, leadership development, and cultural alignment
- 14. Evolution of Human ResourceManagement ï” 4.Early 21st Century â Technology and Globalization: ï” The advent of HR information systems (HRIS) and globalization transformed HRM into a data-driven, global function. ï” HR adopted tools like applicant tracking systems, performance management software, and analytics to optimize processes (SHRM, 2000s). ï” Global HR practices emerged to manage diverse, cross- border workforces.
- 15. HRM in thePresent Scenario (2020s Onward) ï” AI and Automation ï” Data-Driven Decision-Making ï” HR Tech Platforms ï” Hybrid and Remote Work ï” Employee Experience and Well-being ï” Diversity, Equity, and Inclusion (DEI) ï” Upskilling and Reskilling ï” Agile HR Practices ï” Sustainability and Social Responsibility ï” Employee Advocacy and Voice
- 16. The importance ofHuman Factor âą People are not just resources; they are creators of innovation and competitive advantage. âą The âService-Profit Chainâ theory shows that engaged employees better service customer satisfaction â â â profitability. ï” Example: Zappos attributes its customer loyalty to employee empowerment and culture fit during hiring.
- 17. Challenges in HRMand HCM ï” Current and Emerging Challenges 1. Digital Disruption 1. Automation and AI changing job roles. 2. HR must reskill and reallocate human capital. 2. Remote Work & Hybrid Models 1. Managing distributed teams, ensuring inclusion, maintaining culture. 3. Workforce Diversity 1. Multi-generational, multicultural teams need sensitive and adaptive HR practices. 4. Compliance and Global Labor Laws 1. Varying regulations across countries affect global operations. 5. Employee Expectations 1. Focus on purpose, flexibility, and career development. ï” Example: Microsoft's flexible work policy includes remote work as a standard offering post-pandemic.
- 18. Inclusive Growth and AffirmativeAction ï” Inclusive Growth âą Ensures broad-based benefits of economic growth. âą HR plays a role by: âą Creating fair hiring practices. âą Providing upskilling for marginalized communities. âą Supporting accessible workplaces. ï” Example: Tata Groupâs affirmative hiring of transgender individuals and people with disabilities.
- 19. âą Affirmative ActionProactive policies to ensure representation of underrepresented groups. âą Includes quotas, targeted recruitment, scholarships, and supplier diversity programs. ï” Case Example: âą Infosys: Runs âProject Genesisâ to train graduates from underprivileged backgrounds. âą Accenture: Commits to 50/50 gender diversity by 2025.
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