| What is asset management? It is a business process | | | | Human asset management can only happen if the |
| and a decision making structure that covers various | | | | human resource department is able to produce |
| things in order to come up with cost effective | | | | change. This is done by seeing what needs to be |
| investment decisions. For this to work, you need to | | | | improved on in an employee and then coming up with |
| have practice good human resource management by | | | | programs that will enhance it. This includes of course |
| hiring the right people with the right qualifications to get | | | | facilitating and overseeing the training. If this was never |
| the job done. This job falls to the human resources | | | | done before, it should be evaluated to see if there are |
| department as they are after all the ones in charge of | | | | any flaws so this can be avoided in the future. |
| hiring. In the past, the people who worked here simply | | | | Let’s not forget the basics such as traditional |
| gave the employees their paychecks. But that is not | | | | personnel administration such as administering wages |
| the only thing they do. They are supposed to train and | | | | and benefits, time management, employee cost |
| develop the employees so they feel that they are part | | | | management as well as employee performance |
| of something bigger. The professionals who are | | | | review and appraisals. Human asset management is |
| supposed to do this should see themselves as two | | | | serious business because how well the company does |
| things. First as a strategic partner and second, a | | | | depends on the people they hire to fill up the various |
| changing agent. Strategic partner because without | | | | positions. If they hire someone and he or she is not |
| them, a company will not prosper. A changing agent | | | | qualified, problems will occur. If the company has a high |
| because it is through them that the employees can | | | | turnover, money is also wasted because of the time, |
| become better individuals. With that, you can say that | | | | training and money that were invested in that person. |
| human resource management is the bridge between | | | | To keep employees happy or motivated, they also |
| the administration and the employee. For a company | | | | have to come up with programs that will enhance their |
| to practice true human asset management, their | | | | skills even if they should be tempted by offers from |
| human resource department has to do the following. | | | | competitors. Asset management is a combination of |
| First, they must have an active role in organizational | | | | different things. These include cash, bonds, stocks, |
| planning. To make this happen, they must be given the | | | | property and people. If you want your business to |
| power to dictate what is needed in the planning phase | | | | prosper, you must have an effective human resource |
| including the necessary resources. The human | | | | management team in place that will take care of it. |
| resource department should be able to recruit | | | | Otherwise, there will be problems within the |
| employees that are best suited for the organization by | | | | organization. People will quit and when your |
| being given a free hand as to how this will be | | | | competitors see that, this can be used to their |
| achieved. This includes the selection process which | | | | advantage to the point that they may even take over |
| involves the testing and the administering component. | | | | your business. |