Benchmark Assignment – Organizational and Personal HR Development Plan

HRM-635 Benchmark Assignment – Organizational and Personal HR Development Plan

 

Introduction

Presentation’s Focus Areas

™Acquiring, developing, training, and leveraging human capital

™Leveraging diversity to improve performance

™Plans for developing and integrating HR positions

™Making sound HR decisions

™Applying course’s knowledge

™A personal development plan

Welcome to this presentation on acquiring, developing, and leveraging human capital. It is a

detailed exploration of what human resource management entails and its role in an organization. The first part is a synopsis of the outcomes for acquiring, developing, training and leveraging human capital within my organization. It also examines the pros and cons of the current processes used in the organization. The second section is strategies for leveraging diversity to improve performance outcomes. The other important sections include a plan for developing and integrating HR positions, recommendations to the organization’s leadership, applying the course’s lessons, and a personal development plan as a human resource professional.

Outcomes for Acquiring Human Capital

™Increasing the organization’s skills set

™Providing the organization with unique capabilities

™Reduce workload

™Replacing lost talent

™Organization’s continuity

Human capital is the total economic value of employees’ experience and skills. The organization uses it to further its goals, and an organization should have adequately skilled employees to achieve its goals. The primary outcome of acquiring human capital is to increase the employees’ skill set and provide the organization with unique capabilities. Often, the organization is obliged to update its skillset depending on emerging needs like data and systems analysts or risk managers. Acquiring human capital also allows the organization to reduce workload, which is instrumental in preventing burnout among employees (Bakker & de Vries, 2021). Other outcomes include replacing lost talent and ensuring the organization’s continuity since reducing workload prevents turnover.

Outcomes for Training and Development

™Employees’ empowerment/boosting productivity

™Increased profitability

™Employees’ motivation

™Leadership development

™Employee retention

Training and development are a critical part of organizational growth. It involves the continued efforts to boost employees’

performance by helping them acquire new skills or improve their current knowledge and skills (Banfield et al., 2018; McNamara, 2022). Outcomes for training and development in the organization resemble many other organizations since the primary outcome is employees’ empowerment. Employees learn about new technologies, emerging workplace policies, diversity, and workplace relationships, among other skill sets. The new skills boost productivity, increasing the organization’s productivity. Other outcomes include boosting employees’ motivation, leadership development, and employee retention since they feel valued and motivated to work in the organization for a long time.

Outcomes for Leveraging Human Capital

™Leveraging: enhancing human capital value

Outcomes

™Providing a competitive edge in the market

™Enhancing efficiency

™Preventing wasteful spending

™Improving the employees’ strategic value

™Improving business performance

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Organizations have employees with varying skills and experiences. Leveraging human capital denotes the consistent effort to squeeze the most from employees but utilize the minimum resources possible. It is the organization’s commitment to enhance and retain the value of human capital. Among many outcomes, leveraging human capital provides the company with a competitive edge in the market. It also leads to efficient processes and commitment to preventing wasteful spending. Other outcomes include improving the employees’ strategic value and the overall business performance. To succeed in this area, leaders should focus on performance management, leadership development, and employee engagement and culture.

Pros and Cons of Current Systems/Processes

Pros

™Value-based and economical

™Employee-centered

™Efficient and sustainable

™Cons

™Risk of personal bias

™Time-consuming and resource-constraining

The organization uses various processes to acquire, develop, and leverage human capital. The dominant processes include interviews for acquiring human capital and educational programs for training, development, and leveraging. One of the main advantages of interviews is that they are value-based and economical. The organization uses internal staff to help it acquire human capital. Educational programs are employee-centered since they focus on skills gap and inadequacies that should be addressed to enhance employee performance. They are sustainable too. However, interviews are vulnerable to personal bias although panel interviews help to reduce the bias. Like interviews, educational programs are time-consuming and resource-constraining due to intensive planning and the need for massive financial, human, and material resources.

Leveraging Diversity to Improve Performance Outcomes

™Encourage teamwork

™Work through mentors

™Activate open communication

™Provide inclusive leadership

™Provide opportunities for interaction and growth

Like other organizations, the current group of employees has diverse skills, knowledge, abilities, and experiences. The company can focus on these potentials to leverage diversity to improve performance by encouraging teamwork among employees. Teamwork increases employee engagement, encourages collaborative problem-solving, and promotes innovativeness (…….). Mentorship allows new and current employees to learn from their experienced colleagues to improve their skills and abilities. Open communication ensures that employees can express themselves and their needs can be addressed. Inclusive leadership shows that the organization is committed to diverse representation. Doing so will allow diverse ages, genders, ranks, and ethnic groups to interact freely and improve their overall productivity.

Developing and Integrating HR Positions

™Assess the overall HR needs

™Assess employees’ special needs

™Determine leadership’s requirements

™Evaluate organization’s resources

™Integrate the relevant position that matches the current needs

HR professionals’ roles usually overlap. The organization can save massive resources by combining these positions and having as few departments as possible. The first step in developing and integrating the positions of HR specialist or generalist, HR leadership, HR consultant, or HR of one within the organization is to assess the organization’s overall HR needs. Such needs include employee development, appraisal techniques, technologies, and the recruitment process. This should be followed by a detailed assessment of employees’ special needs and leadership requirements. The organization’s resources should also be evaluated to determine whether it can financially cater for the personnel required for each position. The last step is to integrate the relevant position that matches the current organization’s needs.

Making Sound Decisions when Acquiring, Developing, and Leveraging Resources

™Acquire talent through panel interviews

™Recruit diverse talents

™Conduct performance appraisals

™Prioritize training and development

™Update technologies to enhance efficiency

™Provide opportunities for career development

Decision-making is critical to an organization’s success and profitability. Among many considerations, the company’s leadership should acquire human talent through panel interviews since they help to reduce selection bias (Sakshaug et al., 2020). Doing so will ensure that only the most skilled personnel joins the organization. Leadership should also consider recruiting diverse talents to promote workplace diversity. Diversity increases creativity and fosters problem-solving. Performance appraisals guide leaders in developing training and development strategies since they indicate areas where improvements are needed. The technology systems that the organization uses should also be updated regularly to enhance efficiency. Above all, leaders should provide adequate opportunities for career development.

Welcome to this presentation on acquiring, developing, and leveraging human capital. It is a detailed exploration of what human resource management entails and its role in an organization. The first part is a synopsis of the outcomes for acquiring, developing, training and leveraging human capital within my organization. It also examines the pros and cons of the current processes used in the organization. The second section is strategies for leveraging diversity to improve performance outcomes. The other important sections include a plan for developing and integrating HR positions, recommendations to the organization’s leadership, applying the course’s lessons, and a personal development plan as a human resource professional.

Human capital is the total economic value of employees’ experience and skills. The organization uses it to further its goals, and an organization should have adequately skilled employees to achieve its goals. The primary outcome of acquiring human capital is to increase the employees’ skill set and provide the organization with unique capabilities. Often, the organization is obliged to update its skillset depending on emerging needs like data and systems analysts or risk managers. Acquiring human capital also allows the organization to reduce workload, which is instrumental in preventing burnout among employees (Bakker & de Vries, 2021). Other outcomes include replacing lost talent and ensuring the organization’s continuity since reducing workload prevents turnover.

Training and development are a critical part of organizational growth. It involves the continued efforts to boost employees’ performance by helping them acquire new skills or improve their current knowledge and skills (Banfield et al., 2018; McNamara, 2022). Outcomes for training and development in the organization resemble many other organizations since the primary outcome is employees’ empowerment. Employees learn about new technologies, emerging workplace policies, diversity, and workplace relationships, among other skill sets. The new skills boost productivity, increasing the organization’s productivity. Other outcomes include boosting employees’ motivation, leadership development, and employee retention since they feel valued and motivated to work in the organization for a long time.

Organizations have employees with varying skills and experiences. Leveraging human capital denotes the consistent effort to squeeze the most from employees but utilize the minimum resources possible. It is the organization’s commitment to enhance and retain the value of human capital. Among many outcomes, leveraging human capital provides the company with a competitive edge in the market. It also leads to efficient processes and commitment to preventing wasteful spending. Other outcomes include improving the employees’ strategic value and the overall business performance. To succeed in this area, leaders should focus on performance management, leadership development, and employee engagement and culture.

The organization uses various processes to acquire, develop, and leverage human capital. The dominant processes include interviews for acquiring human capital and educational programs for training, development, and leveraging. One of the main advantages of interviews is that they are value-based and economical. The organization uses internal staff to help it acquire human capital. Educational programs are employee-centered since they focus on skills gap and inadequacies that should be addressed to enhance employee performance. They are sustainable too. However, interviews are vulnerable to personal bias although panel interviews help to reduce the bias. Like interviews, educational programs are time-consuming and resource-constraining due to intensive planning and the need for massive financial, human, and material resources.

Like other organizations, the current group of employees has diverse skills, knowledge, abilities, and experiences. The company can focus on these potentials to leverage diversity to improve performance by encouraging teamwork among employees. Teamwork increases employee engagement, encourages collaborative problem-solving, and promotes innovativeness (…….). Mentorship allows new and current employees to learn from their experienced colleagues to improve their skills and abilities. Open communication ensures that employees can express themselves and their needs can be addressed. Inclusive leadership shows that the organization is committed to diverse representation. Doing so will allow diverse ages, genders, ranks, and ethnic groups to interact freely and improve their overall productivity.

HR professionals’ roles usually overlap. The organization can save massive resources by combining these positions and having as few departments as possible. The first step in developing and integrating the positions of HR specialist or generalist, HR leadership, HR consultant, or HR of one within the organization is to assess the organization’s overall HR needs. Such needs include employee development, appraisal techniques, technologies, and the recruitment process. This should be followed by a detailed assessment of employees’ special needs and leadership requirements. The organization’s resources should also be evaluated to determine whether it can financially cater for the personnel required for each position. The last step is to integrate the relevant position that matches the current organization’s needs.

Decision-making is critical to an organization’s success and profitability. Among many considerations, the company’s leadership should acquire human talent through panel interviews since they help to reduce selection bias (Sakshaug et al., 2020). Doing so will ensure that only the most skilled personnel joins the organization. Leadership should also consider recruiting diverse talents to promote workplace diversity. Diversity increases creativity and fosters problem-solving. Performance appraisals guide leaders in developing training and development strategies since they indicate areas where improvements are needed. The technology systems that the organization uses should also be updated regularly to enhance efficiency. Above all, leaders should provide adequate opportunities for career development.

There are many concepts learned in the course that a HR professional can apply to enhance organization’s performance. I will apply the knowledge to guide the organization on employee selection through interviews, social media selection, and other strategies. The other knowledge area vital for a HR professional includes performance management and appraisal. I will guide the organization in this area to evaluate employees’ skills and develop appropriate training and development interventions. Rewards, employee development, and performance improvement were other areas of emphasis in the course. Accordingly, I will apply the knowledge to help the organization determine pay and incentive strategies and leverage performance. I will also play an influential role in ensuring all activities, decisions, and policies comply with the employment law.

Personal development is essential for individual and organizational growth. As a human resource professional, my personal development plan includes four main components. The first component is self-discovery, which is a detailed analysis of my current knowledge, skills, health status (mental and physical), and health needs. The second component is the development plan describing the strategies for achieving personal goals. It will also include timelines for achieving those goals. The third component is interval evaluation of the plan to determine whether the personal goals have been achieved and areas of improvement. The fourth component is a continuous improvement plan to ensure progressive development overall.

In conclusion, it is crucial to summarize some of the presentation’s key points. One of the main emphases is that human capital requires continuous development for the organization to reap maximally. After acquiring the necessary human capital, organizations must invest heavily in training and development to enhance performance. Training and development denote the continued efforts to boost employees’ performance by helping them to acquire new skills or improve their current knowledge and skills. Diversity has emerged as a critical component of organizational development that should be prioritized by acquiring diverse talents. During selection, interviews are reliable but time-consuming. It is also important to mention that a personal development plan starts with self-discovery.

References

Banfield, P., Kay, R., & Royles, D. (2018). Introduction to   human resource management. Oxford University   Press.

Bakker, A. B., & de Vries, J. D. (2021). Job Demands–  Resources theory and self-regulation: New   explanations and remedies for job   burnout. Anxiety, Stress, & Coping, 34(1), 1-21.   https://doi.org/10.1080/10615806.2020.1797695

McNamara, C. (2022). Employee training and development:   reasons and benefits. Management Library.   https://managementhelp.org/training/basics/r  easons-for-training.htm

Ogbonnaya, C. (2019). When teamwork is good for e  mployees — and when it isn’t. Harvard Business   Review. https://hbr.org/2019/08/when-  teamwork-is-good-for-employees-and-when-it-  isnt

Sakshaug, J. W., Hülle, S., Schmucker, A., & Liebig, S.   (2020). Panel survey recruitment with or without   interviewers? Implications for nonresponse,   panel consent, and total recruitment bias. Journal   of Survey Statistics and Methodology, 8(3), 540-565.   https://doi.org/10.1093/jssam/smz012