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Personnel Management – Human Resource Management – Human Capital Management – Aspiration Management
The transition from personnel management, Human Resources Management, Human Capital Management to Aspiration Management needs to be viewed through the prism of people management in changing times and in context of the industry that is being studied. Personnel Management was seen as being administrative in nature and the Personnel Administration team was expected to ensure that the needs of the workforce as they pertain to their immediate concerns are taken care of. Personnel Management was also seen as a predominantly mediatory function and it typically played the role of mediators between the management and the employees and hence there was always the feeling that personnel management was not in tune to meet the objectives set by the management. Some of the personnel management functions included, employee record keeping, adherence to the policies related to recruitment, training and wage administration, administering welfare measures like medical care, housing etc, attempting to increase productivity through salary increases and training, enforcement of standards derived from work studies, dealing with trade unions, trying to solve industrial disputes through collective bargaining and other industrial relations approaches, conducting performance appraisals or report card of past performance to determine salary fitment and promotions
With the advent of resource centric organizations, it became imperative to put “people first” at the same time secure the management’s objectives of maximizing the ROI (Return on Investment) on resources. This has led to the development of the modern HRM function which aimed at the fulfillment of management objectives. In the process of transition from Human Resources Management to Human Capital Management, the work force considered as “resources” now became “assets” or “capital” and a valuable source of competitive advantage. The thrust of people management shifted focus to aligning employees to the business vision and ensuring goal alignment to maximize productivity. People Management processes at this stage is optimized through the use of technology providing detailed analytics and metrics required for decision making. With social networking becoming popular, many people management functions like Recruitment, Learning and Development and performance management has taken the social route. The transition to aspiration management is marked by the need to actualize human potential, since process optimization using technology, managing people as Resources or as a capital that has an economic value did not have the requisite motivational framework to optimize productivity. Aspiration’s management is based on the assumption that each individual is motivated to work towards actualizing their aspirations and that productivity can be optimized and human potential can be actualized through the deployment of the holistic motivational framework that creates the balance between intrinsic and extrinsic motivation based employee engagement initiatives by extending maximum opportunities for employee aspiration actualization.
 
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