MGT530: Managing Human Capital
Assignment Task
Managing human capital refers to the process of identifying, developing, and maximizing the potential of an organization’s human resources. This includes activities such as recruiting and hiring the right employees, training and developing their skills and abilities, and retaining and motivating them to perform at their best.
Effective human capital management can have a number of benefits for an organization, including increased productivity, improved performance, and higher levels of employee engagement and satisfaction. Some specific strategies that organizations can use to manage their human capital include:
Talent acquisition: Identifying and recruiting the right employees is an important aspect of managing human capital. This may involve developing a clear understanding of the skills and abilities that are needed to support the organization’s goals and using a variety of recruitment tools and techniques to attract top talent.
Training and development: Providing employees with the training and development they need to succeed in their roles is crucial for maximizing their potential. This may involve offering a range of learning opportunities, such as on-the-job training, mentorship programs, and professional development courses.
Performance management: Setting clear performance expectations and providing feedback on an ongoing basis can help employees understand what is expected of them and how they can improve. This may involve using tools such as performance appraisals and goal setting to track and evaluate employee performance.
Employee retention: Retaining top talent is important for any organization, as it can help to reduce the cost and disruption of losing valuable employees. This may involve offering competitive benefits and compensation packages, as well as providing opportunities for career development and advancement.
Managing human capital requires a proactive and holistic approach that takes into account the needs and goals of both the organization and its employees. By focusing on talent acquisition, training and development, performance management, and employee retention, organizations can effectively manage their human capital and drive business success.
The Purpose and Context
This assignment will help you to be able to construct a human resource policy guides, assess a company’s human resource needs and evaluate the overall health and safety of employees for a company.
Case Scenario
You are a consultant who has been appointed by a corporation to create a report that reviews the company’s HR policies. Recommend starting salaries for three newly created positions and create guidelines for the health, safety and overall wellbeing of the company’s employees.
You are to choose either your current place of employment or a company that you have researched.
Assignment Instructions
1. Using relevant industry information, choose a company and critique the company’s HR policies.
2. Propose new HR policies and include the following in your proposal:
a. how to improve employee retention;
b. more effective customer service practices;
c. the use of technology to improve interoffice communication;
d. create/revise employee performance appraisals.
3. Create job listing including starting salary information for the following position:
a. secretary;
b. marketer;
c. operations manager.
4. Create a health, safety and wellbeing guide for the company.
Requirements
1. 3,500 – 4,000 words with APA Format
2. Double-spaced (2.0) or One and a Half (1.5) spaced
3. 12 pt. Times New Roman font
4. Page Number (footer, right bottom corner)
5. 4 major sections: Table of Content, Title Page, Main Body, References
