Tag: human capital management

Human talent management is a people-based system, a new approach in Human Resources Management focused on the development of the individual. To facilitate this management, we present 5 steps to run a company from the people value chain. This methodology makes it possible to effectively face the technological, economic, political, and social changes that currently impact production structures. These changes come with incredible results and uncertainty, therefore, managing human talent, so that it can perform in a manner consistent with the business environment, is essential. What is Human Talent Management? Human talent management is how the organization fosters the environment and the necessary tools so that the people who make it up can develop their skills and abilities, expand their talents, and unleash their skills, aimed at systematic and permanent improvement at the individual, group, and organizational. It consists of the definition of processes for the planning, organization, and administration of the activities that are related to the company's collaborators, responding to the challenges and changes that arise around the new labor structures. Faced with the new trends and needs resulting from globalization, the individuals who are part of the companies must be better prepared. Companies that do not attend to these changes tend to disappear, therefore, the Human Resource Administration must create a company with the ability to compete in the current changing environment. This is carried out through the development of collaborators, that is, through training, a work environment conducive to creation, job security, communication, and leadership, among other aspects. 5 steps for human talent management The 5 steps to manage human talent represent a path of personal development and adding value to the organization and society. This is how, based on the skills and abilities of each person, their talents are developed, from which their skills are underpinned and they become generators of knowledge that can be transformed into value. The following figure shows the value chain from people, a way to manage talent focusing on intelligence and rationality of decisions, which will lead to the 5 steps to manage human talent: Step 1: Change of paradigm to manage talent: Recognize that the activity of the human being has changed Companies that want to prosper will have to adapt to technological and social disruptions, even if their business is based on the most basic manufacturing. The paradigm shift becomes effective only when people are no longer valued as tangible, non-developable, and easily replaceable assets. This is not convenient for any of the parties, because the employee feels little valued and the company will be presenting a high turnover rate. Although many companies currently hire people for non-routine or forced activities, this does not exempt other organizations from the need for training. Even those who have been hired for these tasks could receive additional training that adds value to their work. In that sense, training on how to minimize material waste is an example of the type of training that would increase their performance. The strategic value of people varies depending on how companies view and treat their employees. These are assets with the ability to learn and face challenges, unlike machines. Every person can become human talent as shown in the first link of the value chain. Step 2: Talent Identification The impacts of the environment force companies to be prepared to face challenges, so it is necessary to be flexible and resilient in the face of situations that cause unpredictability. Some companies don't know they have talented employees who can help them overcome the new challenges of the 21st century. Among the talents that can be found/cultivated in organizations is the motivation for continuous improvement, the ability to respond to problem situations, leadership, creativity, tolerance, proactivity, and global vision of the business, among others. These talents can be promoted through training to analyze and evaluate the competition, lead projects, retain and expand customers, differentiate service, use available information to create or improve products and services, set goals, reduce costs, be more productive and update the organization in technologies, not for the fact of acquiring more advanced technologies, but for making the most of those that are in the organization (Chiavenato, 2009). Talents must be optimized through the development of skills, as stated in the second link of the value chain, so they can use their intellect to innovate and create; over time they will perform above standard. Step 3: Developing human capital through talent management Companies can count on talent, but if they are seen only as tangible resources, they will not be able to make use of their skills, competencies, and motivations. Human capital is an intangible asset that cannot be easily touched or replaced. Human capital development is not about preparing an individual for a specific position. It is about the development of skills that help employees to face challenges, recognize the need to make social and technical changes, and promote new paradigms that put aside obsolete knowledge that does not allow them to evolve (Werther & Davis, 2008). In this way, when the individual contributes to the wealth of the company with his knowledge and skills, it is called human capital. But for this to be possible, employees need an internal environment that helps them grow. If the organizational structure or architecture is not flexible, inclusive, coordinates processes, and facilitates communication, the talents will not be able to be useful and productive. To develop human capital, it is necessary to have talents and offer an adequate context for them to function efficiently (Chiavenato, 2009). Step 4: Convert human capital into intellectual capital It is necessary to align human capital with the strategy to convert it into intellectual capital, to generate a competitive advantage and add value to the company. When human capital has been developed effectively, the next step occurs almost spontaneously thanks to its management. Clients, recognition, brand value, distribution channels, manufacturing secrets, formulas, methodologies, and processes are achieved, as a result of the influence that human capital has on the actions and destiny of the organization (Alles, 2008). The greater the development of human capital, the greater the value of intellectual capital. To convert human capital into intellectual capital, it is necessary to: Focus the administration of human resources on the operation of the group in a shared manner, without overloading management on a single collaborator. Learn to exchange information and ideas quickly to compete. Listen and meet the needs of employees. Train, train, and update talents constantly so that they are capable of performing their duties and solving problems. Have good practices to improve business performance (Chiavenato, 2009). Step 5: Transform intellectual capital into results Although a company has intellectual capital, it is necessary to know how to convert these intangible assets into results for the business, this is achieved by: Developing individual skills to constantly generate human capital. Through the proper performance of the workforce. With dedication and commitment. Tending to the adaptability and flexibility of the collaborators and the business. Culture of excellence. In this sense, the results of the business will depend on: Empower profit sources to contribute effectively to the business The talent management processes that are created and used in the organization. The measurement of the effects of training, concerning cost reduction, increased profits, decreased turnover, and return on investment. The management of human talent and the 5 steps exposed to direct a company focusing on the value chain of people, ratify the value of knowledge in the Administration of Human Resources, since although talent can be developed in any person, this only It is achieved through constant training, business policies consistent with the strategy, leadership and a work environment conducive to innovation and creation. In summary What is Human Talent Management? Human talent management is how the organization fosters the environment and the necessary tools so that the people who make it up can develop their skills and abilities, expand their talents, and unleash their skills, aimed at systematic and permanent improvement at the individual, group, and organizational. What are the 5 steps for human talent management? The 5 steps to manage human talent represent a path of personal development and adding value to the organization and society. They are (1) Changes in the management paradigm. (2) Identification of talents. (3) Development of human capital through talent management. (4) Convert human capital into intellectual capital. (5) Transform intellectual capital into results. References Alles, M. (2008). Organizational behavior - How to achieve a cultural change through Competency Management. Granica Editions. Chiavenato, I. (2009). Management of human talent. McGraw-Hill Companies, Inc. Chiavenato, I. (2011). Human resources management. The human capital of organizations. MacGraw-Hill – Ninth edition. Navarro, I. (2005). Human Capital: Its Definition and Scope in Local and Regional Development. Educational Policy Analytical Files, vol. 13 pages 1-36. Werther, W., & Davis, K. (2008). Human Resources Administration – The human capital of companies. McGraw-Hill.

Tag: human capital management

5 steps to manage human talent

About Us

Recent Posts

Add BUZZBONGO to your Homescreen!