Strategic Human Capital Insights

Human Asset Management Strategy: A New Approach


A critical question for today’s leadership: Are your employees appreciating in value, maintaining their value, or declining in value?

HAMS Image.pngBusinesses consistently refer to employees as “their most valuable assets.” However, when we look at how organizations view employees, many fail to deliver on that mantra. Employee management continues to be based on models developed in the late 20th century. Along with outdated employee management models, we see Human Resources struggle to transition from organizational operations, support, and compliance to a true strategic partner role.

In that role, Human Resources must drive Human Asset Management Strategy (HAMS) to encourage leaders to shift their approach to the critical element of success - employees.


Is Your Leadership Up to the Task?

Answer these six strategic leadership questions:

1. Can your leadership truly lead in today’s business environment?

2. In the VUCA World (Volatile, Uncertain, Complex, and Ambiguous), what is leadership’s role?

3. Do your leaders possess the top attributes required to excel in today’s world?

4. Are you developing the skills in your organization to address these issues?

5. Are you building the bench strength for innovation, continuity, and sustainability?

6. Would you rehire your current team of leaders and employees?


Download the eBook: "Human Asset Management Strategy: A New Approach"


Through the last economic downturn, organizational challenges forced many companies to focus on the size of their workforce. Typically, these traditional strategies managed the size and composition of the workforce, which included: cost-cutting/rightsizing, LIFO reductions based on employees’ level and tenure; selections based on organizational politics; and increased reliance on contractors. While these tactical strategies provided short-term relief, what was the long-term organizational impact of these decisions? HAMS approaches this issue differently. It considers the key attributes required for success by determining that key functions can be performed without “burning out” the remaining employees while ensuring that the critical skills are in place for continued, sustainable, long-term growth.

 

How Do You Develop a Robust HAMS?

What is the key to developing a robust HAMS? Several steps will begin the transition to strategic human resources focusing on organization development aligned to key strategic initiatives. Implement an approach that includes HAMS in your organization’s strategic planning. Evaluate contributors as value creators or value maintainers. Identify staff that is no longer robust contributors but have become value eroders. 

 

We invite you to download our latest eBook: "Human Asset Management Strategy: A New Approach," which provides a multifunctional operational guide to human capital capacity planning. You can also schedule a complimentary assessment with a member of our team.

Download Your Digital Copy

 

Topics: Human Capital, Human Asset Management

Posted by Joanne Flynn

Joanne Flynn

Joanne T. Flynn heads up the human capital advisory group, Phoenix Strategic Performance, Inc. Previously, she was a Managing Director with Phoenix Group International and was Vice President / Director of Global Learning and Development at Goldman, Sachs for nine years. Joanne works with organizations as they face global growth and competitive challenges. She works with her clients to be both externally focused and internally responsive. With her unique background, she aligns competitive strategic efforts with related internal organizational leadership challenges. With the benefit of her career-long focus, Joanne contributes the unique insight of aligning strategy to internal organizational structure and process. She focuses on human capital relative to strategic initiatives, accelerated business growth, value creation, and business development. Joanne holds a Master of Arts degree in Business Management from the University of Oklahoma. In addition, she holds a double degree major in History and German from St. Elizabeth University, as well as certificates from a variety of leading universities and professional training and development organizations. Joanne has recently published her latest book, Accelerating Business Success, The Human Asset Management Strategy.

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