Principles of effective human capital management

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Play to Your Strengths: Underlying principles of effective human capital management

Last updated: 24 July 2003

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Three Underlying Principles of Human Capital Strategy Management

Your workforce has three key dimensions which help to define your organization and drive its productivity.

Building a powerful human capital strategy requires solid facts and measures. Recent advancements in human resource information systems have enabled a new path to better business performance and distinct competitive advantage, which relies on three core principles: Insist on systems thinking, get the right facts, and focus on value.

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Human Capital Strategy Defined

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Human Capital is the accumulated stock of skills, experience, and knowledge that resides in an organization's workforce and drives productive labor.

Human capital strategy is a form of asset management – a plan for securing, managing and motivating a workforce to optimize business performance.

Human capital strategy is represented by six overall management practices:

How people are selected and developed;

How their work is organized;

How they are supervised or directed;

How information is developed and shared;

How critical decisions are made; and

How people are motivated and rewarded.

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