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Managing Human Capital (PART IV: HUMAN RESOURCE ACTIVITY (Improving…

- - - - Performance = Ability x Motivation
        Where:
        Ability = person's aptitude, as well as the training and resources supplied by the organization.
        Motivation = the product of desire and commitment.
    - - Retrain
      - Refit
      - Resupply
      - Reassign
      - Release
    - - Provision of performance assistance
      - Provision of performance feedback
      - Setting of performance goals
  - - - done to achieve the optimum use of human resources and to have the correct number and types of employees needed to meet organizational goals
    - - to ensure the best fit between employees and jobs, while avoiding manpower shortages or surpluses
    - - forecasting labor demand
        
        estimating the future human resource requirement of the right quality and the right number of employees
      - analyzing present labor supply
        
        The availability of suitable human resources in a particular labor market.
      - balancing projected labor demand and supply
        
        determine how to balance the demand for employees with the supply of employees available.
- - - - Effect dysfunctional turnover
        Company may lose the tacit knowledge that the employees might have developed over the period of association with the organisation.
        Tacit knowledge = implicit knowledge which differ from explicit knowledge in terms of the inherent difficulties to codify and transfer the knowledge.
        Explicit knowledge can be accumulated and codified so as to transfer from person to person.
        But tacit knowledge, by nature cannot be separated from the subject, that is, the knowledgeable person. Tacit knowledge is acquired by practical experience, by ‘doing’ rather than by reading or other means of transferring knowledge.