Pengurusan Modal Insan (HCM)

Human Capital Management (HCM)

• Human Capital (HC): The knowledge, skills, and experience of employees that contribute to organizational success. Examples include employee training, leadership development, and well-being programs (e.g., Google).
• Importance of HC: Drives innovation, enhances productivity and efficiency, and provides a competitive advantage. Creates a motivated and engaged workforce. (e.g., Tesla's investment in AI and automation training).
• HCM vs. HRM: HCM focuses on long-term workforce value strategies, while HRM handles traditional HR tasks like hiring, payroll, and compliance (e.g., Netflix's high-performance culture approach).

Strategic Thrust and Focus of HCM

• Universalistic Approach: A "one-size-fits-all" approach emphasizing best practices like Google's focus on well-being, innovation, and flexible work.
• Contingency Approach: Adapting the best approach based on the specific situation, such as Amazon's adjustments to workforce strategies during COVID-19.
• Configurational Approach: Aligning HCM strategies with overall business strategy (e.g., Apple aligning hiring with its innovation-driven strategy).

Human Capital and Competitive Advantage

• Resource-Based View (RBV): Competitive advantage stems from unique resources, including employees.
• VRIO Model (Barney, 1991): Evaluates resources for their Value, Rarity, Imitability, and Organization for effective use. This ensures that employee's skill sets are unique and valuable for business success (e.g., SpaceX's highly skilled aerospace engineers).
• Knowledge Management (KM): Involves explicit knowledge (documented) and tacit knowledge (experience and intuition) examples like Pilots manuals and senior chef's unique dish preparation methods).

Human Capital Development Strategies

• Talent Management: Identifying, developing, and retaining high-potential employees (e.g., Microsoft's leadership development programs).
• Talent Acquisition vs. Talent Resourcing: Attracting new talent and managing existing employees. Example include Amazon hiring software engineers and training warehouse employees.
• Succession Planning: Preparing employees for future leadership roles (e.g., PepsiCo internal employee development).
• Talent Retention: Keeping employees engaged and preventing turnover through competitive compensation, career growth, work-life balance and a positive work culture (e.g., Salesforce's paid volunteer time and career development programs).

Measuring Human Capital Contributions

• Performance Management: Tracking and improving employee performance using KPIs (e.g., assessing sales team productivity).
• Human Capital Return on Investment (HC ROI): Formula to evaluate the profitability of HC investments.
• Balanced Scorecard (BSC): Measuring performance from four perspectives (financial, customer, internal processes, and learning & growth) - including metrics like Starbucks measuring employee training impact on customer service quality.
• HR Scorecard: Aligning HR goals with business strategy.

Issues and Challenges in HCM

• High Employee Turnover: Frequent employee departures (e.g., McDonald's part-time jobs).
• Skill Gaps: Employees lacking necessary skills for emerging roles (e.g., demand for AI and data scientists).
• Resistance to Change: Reluctance to adapt to new processes and technologies (e.g., Netflix's transition from DVD rentals to streaming).
• Global and National Workforce Issues: Challenges like dependence on foreign labor and need for specific skillsets. Such as Malaysia's increasing need for digital skills.

Solutions to HCM Challenges

• Stronger Leadership: Developing strong leaders in talent management.
• Integration of HR and Business Strategies: Aligning HR goals with business strategy.
• Continuous Learning and Adaptability: Encouraging upskilling and continuous development. Examples in this include Shopee's investments in digital training programs for employees.

Kuiz ini menguji pemahaman anda tentang Pengurusan Modal Insan, termasuk kepentingannya dalam kejayaan organisasi, perbandingan antara HCM dan HRM, serta pendekatan strategik dalam HCM. Ketahui lebih lanjut mengenai bagaimana syarikat terkemuka menggunakan strategi ini untuk meningkatkan produktiviti dan inovasi.