Managing Human Capital in Organizations

Background:

Building an organization filled with good, talented, well-trained people is one of the keys to success. But to do this, an organization needs to do more than recruit and hire the best candidates – they also need to retain good people, keep them properly trained and placed in proper positions, and eventually target new hires to replace those leaving the organization. Individuals play unique roles within their organizations, both formally and informally. Thus, the departure of individuals from an organization leaves important informational and functional components missing that need to be replaced. This is true for sports teams, commercial companies, schools and universities, governments, and almost any formal group or organization of people.

Human resource (HR) specialists help senior leadership manage personnel by improving retention and motivation, coordinating training, and building good teams. In particular, leaders seek to create an effective organizational structure, where people are assigned to positions appropriate to their talents and experience, and where efficient communication systems are in place to facilitate development of innovative ideas and quality products (commodities or services). These talent management and team building aspects of HR management are remaking many modern organizations.