Human capital

BSBLED810 Develop human capital

This unit is about planning and developing human capital. It applies to senior leaders or managers working to enhance individual, team and organizational capabilities. The role involves:

• identifying and assessing human capital
• consulting on the advantages of human capital with internal and external stakeholders or collaborative partners,
• developing human capital, and
• monitoring the value attained.

The unit relates equally to small scale activities within a small to medium sized organization or a significant activity in a large organization. It may be done for a work group or operational area.

 

How you will be assessed

You will be assessed through:

• A practical project on the job
• Supervisor reference (if the assessor is not the supervisor)
• Review of your workplace documents
• Interview/assignment based on the requirements below.

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Practical project

Go through the full process according to the textbook for an organization or a part of a larger organization.

Your assessment must be in an actual workplace. You will need to consistently demonstrate competence over time, and over a variety of situations. You must also have access to appropriate documentation and resources normally used in the workplace.

Your project must result in a portfolio of at least the following documents:

• Data collection documentation
• Analysis of human capital.
• Written report of a human capital audit, including an analysis.
• Written human capital development plan
• Review report of you implementation of the human capital development plan
• Written talent development plan.

Your assessor will ask you to describe your portfolio documents and may ask any questions

 

Assignment 1

1. Define human capital simply in your own words.
2. What are the main concepts of human capital theory?
3. Which principles are of dubious value?
4. How do they apply to your organization?
5. What changes have taken place in human capital theory during the last thirty years?

 

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Interview/assignment questions

1. In your own words, define human capital.
2. Describe a method for planning the development of human capital in an organization.
3. Explain how to give a value to the human capital in an organization. Consider relevant factors such as labor market forces, skill levels, innate ability, replacability, social-cultural factors, etc.)
4. Explain the relationships between human capital and human resource development.
5. Explain the relationships between human capital and training
6. Explain the relationships between human capital and knowledge management (including Intellectual property)
7. Explain how to collect data of an organization’s human capital.
8. Explain how to analyze an organization’s human capital needs. Give it as a clear method.
9. List and describe your organisation’s requirements relevant to human capital.

Note: Your assessor may also ask you a variety of what if questions.

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Detailed requirements

1. Identify human capital in an organization.

1. Analyse and evaluate the principles and concepts of human capital theory.
2. Identify the factors involved in forming human capital.
3. Determine accurately the capital asset value of human resources in the organization, (or an industry or region). (Capital asset value is the value a business may derive from any stock of assets it owns that can be deployed to create income, or from which interest and future value can be derived.)
4. Get input from a wide range of sources about what staff actually do and the context they do it in.
5. Determine the relationship between organizational requirements and its human capital. That is, what is the gap between the skills the organization needs and the current skills and knowledge of its staff.
6. Accurately assess the value of human capital based on your analysis and measurement of human capital.

 

2. Consult on the advantages of human capital development.

1. Develop and prioritize strategies for deploying human capital development strategies to support the organization training needs profile in consultation with key stakeholders
2. Negotiate with key stakeholders on opportunities to collaborate on projects to develop human capital.

 

3. Develop and monitor human capital development.

1. Complete an analysis of human capital needs and development planning according to your organization’s requirements
2. Analyze and interpret information and data on gaps and forecasts in human capital.
3. Implement options and strategies to develop, attract and retain talent.
4. Implement options and actions to optimize the asset value of human resources in relation to organizational strategic imperatives.
5. Determine talent and develop the potential of human capital required to meet your organization’s requirements
6. Promote the capacity of the organization, team and individual employees to achieve strategic and personal advantage through their efforts to develop human capabilities

 

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