Role Of The Chief Human Capital Officer In Human Capital Management
People are the most valuable resource for a nation. In order for the best production to reach people, government officials put in a lot of effort.
This is why Human Capital Management is so important. Recruitment, training and development, and retention of the most capable people are all a part of handling human capital.
In the world of Human Capital Management, chief human capital officers are key in the facilitation and management of federal employees. chickyfinance.com
The chief human capital officer position has been proven to be very valuable to the government and government employees.
The role of such officers involves handling not only 1.9 million employees, but also thousands of contractor employees. Presence of an officer is an assurance for these employees that they will grow in the desired direction.
Keep Your Human Capital and Reducing Turnover
This is the age of human capital -- and of tight labor markets.
Companies have finally realized that competitive advantage resides mostly in people, and that finding and keeping good managers and employees is a strategic necessity. But how do you attract and retain the best and the brightest when the competition for people is so brutal?
To make matters worse, two demographic time bombs are quietly ticking away.
The financial math of reducing turnover by just a few percentage points should make the most cost sensitive CEO jump to invest to improve retention -- it's a business "no brainer". According to the Saratoga Institute, a leader in human capital measurement, companies spend an average of one and a half times a person's salary per turnover, which on average totals $50,000 per employee lost.
Lose 10 people = lose $500,000
One of the drivers in retention strategies is training and development opportunities.
Supervisors and managers need a wake-up call: mentor. Get yourself in training. Train your people. Talk with your key people about their careers. Then, listen to them.
About the Author
Bethany loves writing about human capital management. She loves go-karting on the weekends and playing with her pet iguana.