Human Capitals Concept Worksheet
Essay title: Human Capitals Concept Worksheet
Human Capital Concepts Worksheet Assignment
This week’s paper discusses human capital concepts. The worksheet will include examples from the learning materials as well as justification of the concept from the weekly readings. Using this human capital concept worksheet for a baseline will enable a wider view of the course concepts.
Concept
Application of Concept in the Scenario
Reference to Concept in Reading
Managing the restructuring process
InterClean has determined that a change in their process has to occur to remain market competitive. To address this need the CEO has decided on a new corporate strategy, which needs to be implemented in a timely manner. Additionally, InterClean has acquired a company similar in size but much different in culture, to assist with the new corporate vision.
For InterClean to continue to be successful HR needs to manage the restructuring process by using this time to identify organizational fit with existing employees and retaining the top-level performers.
“When attempting to identify individuals who will be motivated to perform at high levels, the goal is to find a match between the work outcomes that candidates
want and value and the work outcomes that an employer is able to
associate with superior job performance” (Dreher & Dougherty, 2001, p. 114).
Integrating staffing practices with strategy
Since InterClean has determined a new market strategy along with the acquisition, HR has the opportunity to address the role requirements of the new vision.
For InterClean to move forward with the new vision, HR needs to determine what is needed to infuse the corporation with motivated and successful individuals. This requires an assessment of appropriate skills, values, and abilities for each job.
“The critical step required to link business strategy with HR system design is the careful review of role requirements” (Dreher & Dougherty, 2001, p. 179).
Employee Motivation
Because of the corporate culture change and the acquisition of additionally employees, employee motivation is needed to ensure the company retains successful employees. Currently there is worry among the sales team because of rumors that indicate lay-offs. Lack of motivation causes a reduction in work production and needs to be addressed swiftly to minimize damaged morale. “These reduced levels of employee motivation and cohesiveness would, in turn, have a negative impact on product quality” (Dreher & Dougherty, 2001, p. 11).
For InterClean to enhance employee motivation, HR has to manage the factors that motivate the team. Identifying and addressing these factors will increase employee motivation and will have a direct impact on the corporate expectations.
Both the motivation to perform and the motivation to stay are determined by a complex interaction between the outcomes associated with each type of behavior and the individual’s unique mix of interests and values (see Chapter 2). In times of tight labor markets, a firm’s ability to retain top talent becomes a critical factor in organizational success (Dreher & Dougherty, 2001, p. 111).
Pay system attributes
InterClean has decided to ramp up their strategy to meet upcoming market needs. This will be a challenge for the sales force, who is already concerned because of the inability to meet the expectations in the prior year.
By addressing these concerns through pay system attributes, HR can improve morale. The pay system attributes can provide motivation through goal setting as well as assist the sales force in managing their sales calls appropriately. As HR moves towards pay system attributes, they must keep in mind the reward programs must be “strategically anchored, based on quantified performance data, highly participative, actively sold to supervisors and middle managers, and teamwork oriented (Kinicki & Kreitner, 2003, p. 352).”
“Making pay (or other valued job outcomes) contingent on performance should enhance instrumentality perceptions and employee motivation (Dreher & Dougherty, 2001, p. 54).
“If employees are expected to behave in extraordinary ways and add
value to the firm, sharing that gain with employees meets most definitions
of workplace justice and fairness” (Dreher & Dougherty, 2001, p. 6).
Training and development
As InterClean goes through the expected cultural change, training and development will be imperative to ensure a smooth transition. This will enable HR to address current training and development programs and structure these programs to fit the new vision strategy.