Human asset management
practice of managing people as assets
Human asset management (HAM) is the practice of managing people, usually within an organisation, as assets (or human capital). It can be seen as an alternative to human resource management treating people as an enduring asset rather than a resource to be consumed. Human asset management can include the functions of recruitment, onboarding, retention, development, culture, career management, mobility, succession planning, talent management, performance management, employee administration and legal issues.
Definition
Human asset management covers several interrelated and to some degree overlapping concepts, that individually and in combination affect competitiveness and performance. This includes competency profiling, development planning, talent asset management, strategic workforce planning, performance management, recruitment and on-boarding. Short-term and long-term corporate performance may be positively influenced when individual and overall competencies match requirements to execute the strategies.
History
Developments
Human asset management is an evolution from the old terms like human resource management and human capital management. Many organization defined people as ‘resources’. In HAM, employees are not regarded or managed as a ‘disposable resource’. The importance of relating with an employer was highlighted by Quelch and Jocz.
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This entry incorporates text from “Human asset management” on English Wikipedia. Contributors are listed in the page history. Text is available under the Creative Commons Attribution-ShareAlike 4.0 License. Selected authority identifiers and statements are retrieved from Wikidata under CC0; their references and qualifiers remain part of the verification path.