Human capital planning is the method through which an organisation creates an integrated network of human capital plans, policies and practices. In order to be effective the human capital strategy needs to be aligned with the organisational mission, goals and objectives through the analysis, planning, investment and management of human capital programs.
The plan forms an important framework or roadmap for on-going improvement and transforming culture and operations in the organisation. The essential components that need to be incorporated in a human capital strategy include:
Clear Strategic Direction for Human Capital Strategy and Planning
Collecting the data required for an audit of where the organisation wants to be is an intensive process. This is the information you will collect in order to take your organisation from where it is currently to where it desires to get to and could include data such as the organisation’s performance plans, any budgetary constraints, internal and external forces that impact on the organisation’s human capital requirements, the constitution of the workforce and what its human capital needs are.
Stakeholder And Customer Human Capital Management Goals And Outcomes
By defining its strategic direction an organisation can develop its goals for its human capital around which the plan can be created. The goals should be focused on human capital systems such as leadership, performance management and talent.
Objectives And Strategies For Goal Realisation
It is in this stage of human capital strategy planning that we look at how the organisation can achieve its goals and, because of the continuity of each of the stages, can be assured that the objectives are aligned with the organisation’s strategic direction.
A Plan For Implementation
The implementation plan will describe the actions that need to be taken to realise the objectives. The human capital plan should include:
– The tasks that need to be undertaken
– Who is responsible for them
– The resources that are available
– The time frame the tasks need to be completed in.
– A change management or communication plan
An Accountability System
This system will establish how success will be monitored and defined as the objective or strategy is implemented.
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