If people are your most important asset, what's the impact of HR in your organization?
Integral to the topic of Human Asset Management is an honest organizational evaluation of the ‘keeper of human capital’, the human resources department. If human capital is truly going to be elevated to the level of human asset management, an organization needs a highly-regarded HR department driving the strategic discussion of people. Embedded in HR’s responsibilities are:
- Human Asset Risk Management assessing if:
- employee costs equal required productivity
- employees are value creators, value sustainers, or value eroders
- employee skills are:
- appreciating and pacing with strategic initiatives
- stagnant and maintaining current levels but not growth levels
- depreciating and creating a negative drag on performance, productivity, and profitability
- Human Asset Complex Consequence Analysis focusing on:
- near-term, mid-term, and long-term time horizons
- near-term – long-term human capital bench strength resulting in business resiliency
- near-term – long-term impact on organizational agility – the ability to deploy relevantly-skilled people, on-demand
- Human Asset Impact Analysis on:
- Competitive Advantage
- Market Sustainability
- Growth Acceleration