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In a competitive market environment businesses are looking for newer ways of increasing their productivity and profits. In the modern era one of the strategic ways to do so is make maximum use of the human capital at their disposal. The profit and survival of any business depends on its ability to cope up with the market, political climate and changing organizational structure. All these demands need to be met by optimizing the use of human capital at individual, team and organizational level. Thus HCM or Human Capital Management has become one of the strategic functions of any business. What Is Human Capital Management? By definition it is an approach to employee staffing that perceives people as human capital whose current value can be measured and whose future value can be enhanced through investment. Under this model managers play a very important role in rating, rewarding, and holding employees accountable for achieving specific business goals. This calls for creating an innovative working environment and supporting continuous improvement within the organization. To achieve this you need to constantly monitor the performance of each employee and measure those using standard parameters. This is where you need to employ human capital measures in what is popularly known as human capital reporting. Advantages of Human Capital Reporting • Human capital reporting allows you to judge the performance of each and every individual employee within the organization. You can clearly find out the performers and the non-performers. This allows you to reward the performers and encourage the non-performers by identifying their flaws thereby increasing the efficiency of your employees. • With the help of this report you can easily identify the gaps that exist within your organization and also suggest remedial measures to fill up those gaps. • It highlights the importance of personality development and soft skills in any organization. It helps in improving the communication skills of employees which creates a vibrant working environment allowing employees to share their knowledge and learn from one another. • Another great advantage of this reporting is that it helps in talent acquisition which is one of the most important functions in any organization. It allows you to hire the right person for the right job both within the organization and outside it. • Human Capital management enables free flow of information between superiors and subordinates. You can easily identify the communication gap that exists between some managers and their subordinates and take steps to better the flow of information between them. Human Capital Reporting is a highly specialized job and calls for a professional market research firm that has expertise in the job. This is where you can hire the services of Center for Talent Reporting. It is a non-profit organization that strives by the goal for adoption of reporting standards for human capital that meet the needs of senior executives, talent management leaders, program managers, and other stakeholders within an organization. They employ industry certified Talent Development Reporting Principles (TDRp) that has helped many organizations increase their productivity and gained a strong foothold in a highly competitive market environment.
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Center for Talent Reporting, Talent Development Reporting Principles, Human Capital, Human Capital Measures, Human Capital Reporting,
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