HRM-635 Benchmark Assignment – Organizational and Personal HR Development Plan Presentation’s Focus Areas

HRM-635 Benchmark Assignment – Organizational and Personal HR Development Plan Presentation’s Focus Areas

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

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

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

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

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

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. Inclus