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ABSTRACT
Recent discussions among HR practitioners in higher education have focused on Human Capital management; specifically, the concept of developing a college or university Human Capital management approach balanced between planning and action. Human Capital management as a planning tool looks very similar to workforce planning, but where HR will experience a real opportunity for contribution to the organization is in the quality of implementation supporting the plan. This paper emphasizes strategic human resource initiatives that can help realize an institution's Human Capital goals and contribute to performance that will build future institutional capacity.
In this paper the author has tried to carve out the strategies to attract and retain the best Human Capital of the organization. With this paper the author has also tried to establish the relation between the Human Capital management and other factors working in the organization.
Keywords: Human Capital Management, Work Engagement, Turnover Avoidance, and Value addition.
INTRODUCTION
Human Capital Management refers to the skills of attracting highly skilled workers, of integrating new workers, and developing and retaining current workers to meet current and future business objectives. Human Capital management in this context does not refer to the management of entertainers. Companies engaging in a Human Capital management strategy shift the responsibility of employees from the human resources department to all managers throughout the organization. The process of attracting and retaining profitable employees, as it is increasingly more competitive between firms and of strategic importance, has come to be known as "the war for Human Capital." Human Capital management is also known as TM (Talent Management).
The term "Human Capital management" means different things to different organizations. To some it is about the management of high-worth individuals or "The Human Capital" which to others it is about how Human Capital is managed generally - i.e. on the assumption that all people have Human Capital which should be identified and liberated
Human resources have a compelling mission to provide "value added" services; however, this expectation is often hard to describe. Further, HR leaders are asked to provide "line of sight" plans that support institutional strategy and challenges; again, not an intuitive task. It is, perhaps, more clarifying to examine effective, leading-edge practices that have been or could be put in...