YOUTHS MUST KNOW HCVA IS KEY TO YOUR SUCCESS IN ANY BUSINESS, COMPANY,OFFICE OR FIRM TODAY.ROLE OF AI IN HUMAN CAPITAL VALUE ADDED (HCVA) ASSESSMENT.
Col (R) Hassan Yousuf
Trainer Futurology, Smart Management & IT / Digi Tech at Pakistan Institute of Management
Worthy audience, recent 2st Century workplace upheavals triggered by the Covid pandemic and worsening economic outlooks has made people question what is important in their office culture or the type of work they are doing. Companies are experiencing high resignations or an inability to retain good talent, and are under increasing pressure to focus on staff satisfaction and improve HCVA metrics. As good talent is difficult to find, it is important for businesses to keep an eye on talent management and to find new ways to increase productivity so that people stay loyal to your business. AI can be used to?assess employee engagement and the quality of employee work performance?and can provide managers with timely reminders for when an employee might be ready for a new challenge, or if they have outgrown aspects of their role. HCVA can also be planned and represented in budgets; this means talents costs and benefits can be modelled and mapped then compared to HCVA actuals. If your HCVA is dropping then it might be worth looking into further employee data and determining if people are taking their allocated annual leave, if not, perhaps they are burnt out or under stress, or you may need to employ more people or change processes within your business .Defining, developing, and extending KPIs need to be on the top of every company’s to-do list. Leaders should be ready to begin a company-wide conversation that includes human resources, finance and sales about what extended data streams need to be analyzed to drive organizational change. Try to keep HCVA rising for the success of a company
2. Worthy audience for the last two decades Human Economic Value Added (HEVA)?measures the economic contribution of human capital to a company. It goes beyond the traditional financial metrics and recognizes the impact that employees have on the organization's overall performance. Human capital plays a significant role for any organization to meet its stated objective of shareholder wealth maximization. The role of human capital become more critical for the success of labor-intensive business and is key differentiator between the successful and not so successful business. Hence, to succeed in long run, it is necessary for the organizations to attract, nurture and efficiently deploy the human capital to meet the long-term objective of the business. Further, different organization use suitable metrics to assess and manage the performance of its human capital. Different metrics and measures utilize the internal data available within the organization with reference to human capital and business performance to assess and manage their human capital. Among those metrics, a few metrics are accounting based metrics and utilizes the financial information to assess the value added by human capital in an organization. For example, Human capital value added (hereon HCVA) measures the value added (measured in economic profit terms) by employee during a period. Human Capital Value Added (HCVA) is?a measure of the extent to which employees add value to the business. Human Capital Value Added (HCVA) is?an indicator, or measurement, of the financial value (profit) an average employee brings to an organization. In other words, it shows the average profit per employee or to what extent does, the average employee contributes to the bottom line. The main objective of this Article is to study is to assess the Human Capital.
3??? .Formula for human capital value added. Worthy audience overall, to assess HCVA by the sample companies. HCVA was calculated as given in following equations:-
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4. Worthy readers the HCVA metric measures employees' profit contribution once costs have been removed. This metric can be embedded in the profit and loss statement and monitored, managed and reported by month, by division and compared to previous years. The HCVA looks at the human impact on revenue by numbers and by visuals. Some of the criteria that can positively impact the value human capital adds to business include:
5. Worthy audience the integration of AI enhances the proficiency and precision of the selection process, also carving out a realm wherein machine-learning algorithms might prognosticate optimal hardware configurations, deriving insights from historical data and project prerequisites. Thus, AI could potentially emerge as an invaluable asset, steering professionals toward a more streamlined, error-reduced, and data-informed decision-making pathway in HVAC controls contracting.This not only ensures compliance with specifications but also fosters a conducive environment for innovations and advancements in system design and implementation. The methodology and intricacies of this process could potentially be adapted to other aspects hardware or application engineering processes, such as damper selection. Furthermore, this raises an intriguing question: why not design the complete control controls contractor hardware submittal, incorporating the selection all application-specific (embedded) devices capable of managing every HVAC sequence envisioned by the mechanical engineer, encompassing all necessary inputs and outputs to control each damper or valve within the system, as well as sensor selections, through a similar process. Your feedback could illuminate any overlooked facets or offer fresh perspectives in refining this process even further.
6. Worthy audience in today's competitive business landscape, companies are constantly searching for ways to maximize their efficiency and profitability. One often-overlooked aspect of this quest is the value that human capital brings to an organization. Human Economic Value Added (HEVA) is a concept that sheds light on this crucial element, allowing companies to understand and enhance the true worth of their employees. Human Economic Value Added (HEVA) measures the economic contribution of human capital to a company. It goes beyond the traditional financial metrics and recognizes the impact that employees have on the organization's overall performance. HEVA takes into account factors such as skills, knowledge, experience, and productivity, providing a more comprehensive evaluation of the value employees bring to the table. Calculating and enhancing Human Economic Value Added is crucial for several reasons. Firstly, it allows companies to accurately evaluate the contribution of their employees, enabling them to make informed decisions regarding recruitment, training, and compensation. Secondly, it provides a benchmark against which companies can measure their performance and identify areas for improvement. Lastly, by recognizing and valuing human capital, companies can boost employee morale and engagement, leading to increased productivity and overall organizational success.