Human Capital Management: Achieving Added Value Through People - Hardcover

Armstrong, Michael

Hardcover

ISBN 10: 0749449381 ISBN 13: 9780749449384

Publisher: Kogan Page, 2007

Synopsis

<p>Human Capital Management (HCM) has been described as a high-level strategic issue that seeks to analyse, measure and evaluate how people policies and practices create value. Put simply, HCM is about creating and demonstrating the value that great people and great people management add to an organization.</p><p> This unique book describes how HCM provides a bridge between human resource management and business strategy. It also demonstrates how organizations can use the concepts of human resource management and the processes involved to enhance the value they obtain from people while continuing to meet their aspirations and needs.</p><p> Armstrong and Baron explain how to achieve these objectives using various approaches including: Describing the concepts of HCM and how the process works; Examining the practice of HCM with regard to measurement and reporting; Discussing the various applications of HCM with regard to HR strategy formulation, learning and development, knowledge management, performance management, reward management and talent management; and examining the role of HR in HCM and the future of the concept.</p><p> It also contains an appendix a toolkit which organizations can use to develop their own HCM policies and practices.</p>

About this title

About the Author

<p><b>Michael Armstrong</b> is the UK's bestselling author of Human Resource Management books including <b><i>Armstrong's Handbook of Human Resource Management Practice</i></b>, <b><i>Armstrong's Handbook of Strategic Human Resource Management</i>, </b><i><b>Armstrong's Handbook of Reward Management Practice</b> </i>and <b><i>Armstrong's Handbook of Performance Management </i></b>and several other titles published by Kogan Page. His books have sold over a million copies and have been translated into twenty-one languages. </p><p><b>Michael Armstrong</b> is a Companion and former Chief Examiner of the Chartered Institute of Personnel and Development (CIPD), the co-founder and a managing partner of E-Reward, one of the UK's first websites dedicated solely to reward management. Prior to this he was an HR director of a publishing company and an independent management consultant. He is based in London, UK.</p>

Excerpt. © Reprinted by permission. All rights reserved.

<p><b>Part 1 The essence of HCM </b></p><p> <b>1 The concept of human capital </b></p><p> Intellectual capital; Human capital; Social capital; Organizational capital; Practical implications of intellectual capital theory; Conclusions</p><p> <b>2 The concept of HCM </b></p><p> HCM defined; Aims of HCM; Rationale for HCM; HCM and HRM; The concept of human capital advantage and resource-based strategy; Conclusions</p><p> <b>3 The process of HCM </b></p><p> HCM drivers; The HCM journey; Human capital measurement; Human capital reporting; Drawing conclusions; Getting into action; Putting it all together; Developing HCM</p><p> <b>Part 2 The practice of HCM </b></p><p> <b>4 Human capital data </b></p><p> Overall considerations; Types of data; Problems with data collection; A guide to data management; Conclusions</p><p> <b>5 Measuring human capital </b></p><p> Measurement issues; Classification of measures; Developing measures; Approaches to analysis; Analytical models; Examples of approaches to measurement; Conclusions</p><p> <b>6 Human capital reporting </b></p><p> Internal reporting; External reporting; Conclusions</p><p> <b>7 Applications of HCM </b></p><p> The link between HCM and strategic HRM; HCM and talent management; HCM and learning and development; Knowledge management; Performance management as a source of human capital data; Reward management; Supporting and developing line managers</p><p> <b>Part 3 The role and future of HCM </b></p><p> <b>8 The role of HR in HCM </b></p><p> The business partner concept and HCM; HR's role in developing, analysing and using human capital data; The role of HR in enhancing job engagement and commitment; The strategist role; Making the business case; Working with the other functions</p><p> <b>9 The skills HR specialists need for HCM</b></p><p> Closing the skills gap; Developing a new template for HR; HR versus line manager skills;</p><p> Conclusions</p><p> <b>10 The future of HCM </b></p><p> The virtues of HCM; Question marks about HCM; The link between HCM and business strategy; Establishing the link between HR practice and business performance; Understanding and fulfilling the needs of the investment community for better information on intangible value; Convincing senior management; Enlisting the interest and involvement of line management; Convincing HR specialists; Staged development of HCM; Developing the HCM skills of HR specialists; The meaning of added value; What is meant by regarding people as assets; Selecting the measures; Analysing and evaluating the data; The future of external reporting; Conclusions</p><p> <b>Appendix: The HCM toolkit </b></p><p> Purpose of the toolkit; What is an HCM approach?; Do we need to adopt an HCM approach?; How do we adopt an HCM approach?; Introducing HCM; Decide HCM goals; Decide areas to be covered by HCM; Identify measures required and available; Develop internal reports; Develop external reports; How do we operate HCM?;</p>

Edition details

• Publisher: Kogan Page
• Publication date: 2007
• Language: English
• ISBN 10: 0749449381
• ISBN 13: 9780749449384
• Binding: Hardcover
• Edition number: 1
• Number of pages: 240