The impact of human capital management on operational performance at the gambia national water and
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Definition of Concepts 2.2.1 Human Capital Management For the purpose of this study, Human Capital Management is sometimes interchanged for high Performance HR practices. Bassi, (2012) an expert on the Decision Sciences, defined Human Capital Management as ‘the processes and practices within an organization that align the management and development of employees with its business results’. Crook et al, (2011) also defined Human Capital Management as ‘the stock of competencies, knowledge and personality attributes embodied in the ability to perform labour so as to produce economic value’ Coughlan, (2001) defined Human Capital Management as ‘the sum of knowledge, skills, experience and other relevant 13 workforce attributes that reside in an organization’s workforce and drive productivity, performance and the achievement of strategic goals’. Baron and Armstrong, (2007) defined Human capital management as ‘a strategic approach to people management that focuses on the knowledge, skills, abilities and capacity to develop and innovate, possessed by people in an organization’. In an attempt to explain the meaning of Human Capital Management, Avninder, (2009) states that ‘HCM today is adequately managing every facet of talent and labour which requires a detailed examination of all segments of the workforce against every area of operational detail’. Other researchers such as Stiles et al, (2011) on another level of definition presents Human Capital Management (HCM), as concerned with obtaining, analyzing and reporting on data that inform the direction of value adding strategic investment and operational people management decisions at corporate level and at the level of frontline management. It is, as emphasized by Baron and Armstrong (2007) ultimately about value. In this case, the defining characteristic of HCM is the use of metrics to guide an approach to managing people that regards them as assets and emphasizes that competitive advantage is achieved by strategic investments in those assets through employee engagement and retention, talent management and learning and development programmes. Human Capital Management provides a bridge between Human Resource and business strategy. Human Capital Management is sometimes defined more broadly without the emphasis on measurement. Spellman (1992) states that ‘Human Capital Management is an integrated effort to manage and develop human capabilities to achieve significantly 14 higher levels of performance.’ According to Baron and Armstrong (2007), the three fundamental objectives of Human Capital Management are to: a) Demonstrate that HR practices produce value for money in terms, for example, of return on investment. (ROI) b) Provide guidance of future HR and business strategies c) Provide diagnostic and predictive data that will inform strategies and practices designed to improve the effectiveness of people management in the organization. tải về 1.26 Mb. Chia sẻ với bạn bè của bạn:
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