Performance Management for Human Resources
Strategic Management of Human Capital
Human Resources must demonstrate positive ROI from human capital investments. To do this, it must evolve beyond managing administrative requirements—such as payroll, benefits, and sick leave—to become a strategic partner in business performance.
HR needs to guide the alignment of employee roles, job functions, talent, and individual performance with business results and goals, and track results. HR must also find, assess, develop, and retain the talent that drives the business. It should define the factors for employee success and institute practices that guide employees toward consistent and measurable outcomes.
Human Resources is responsible for defining, understanding, and leading five core areas of your organization’s decision-making and performance management:
- Organization and staffing
What job functions, positions, roles, and capabilities are required to drive the business performance? - Compensation
How should we reward our employees to retain and motivate them for full performance? - Talent and succession
What are the talent and succession gaps we must address to ensure sustained performance? - Training and development:
What training and development do we need to maximize employee performance; is there a clear payback? - Benefits:
How do we manage costs and incentives for better performance?
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