19 May 2022

103

Beyond HR: The New Science of Human Capital

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The HR profession has become more sophisticated in recent years, yet organizations are not achieving the desired results. As a result, HR analytics has been on the front in setting up programs that give priority to human capital. This paper reviews the book Beyond HR: The New Science of Human Capital by John Boudreau and Peter Ramstad before discussing an essential point from the book ( Boudreau & Ramstad, 2007). The report focuses on chapter 9 and ten of the book and how the authors presented their concept in the book.

This book by John Boudreau and Peter Ramstad, focuses on the topic of using talent strategy as a competitive advantage . The book describes how HR firms can work to uncover distinctive talent contributions and allocate talent to create value. The authors outlined a human management strategic approach through the process of talentship ( Boudreau & Ramstad, 2007) . Competition for top skills has been on the rise as companies look to remain competitive in the industry, which requires companies to consider the decisions they make regarding talents. The book explains how organizations can allocate talent to create value by and differentiating HR analytics and procedures.

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Chapter 9 of the book speaks about Talentship and HR measurement and analysis in organizations. Talents refer to the process of revealing opportunities in an organization by determining the strategy pivot points and the decision to address them ( Boudreau & Ramstad, 2004) . Ability and organizational measurement systems require the use of several HR analytics. The chapter focuses on developing better HR measures that can be effective in overall organizational performance. The authors examined how the development of human resource role has contributed to the increased importance of social capital ( Boudreau & Ramstad, 2007) . The part has been shown to benefit finance capital for organizations.

The chapter also described how an organization can link HR measures to the existing organizational systems to offer more significant opportunities for enhancing decision making ( Boudreau & Ramstad, 2004) . This means HR managers can use the steps to determine the extent of talentship in an organization and implement it. The authors discussed how talentship ca be used to develop a contingent framework linking organizational talent to strategic success ( Boudreau & Ramstad, 2007) . The focus of this chapter is that talent decisions are crucial to organizational effectiveness and strategic success. The section also discussed the elements of talentship in an organization and the Bridge decision framework that supports it. According to the authors, the evolution of the strategic-based approach to talent allocation is crucial for organizational success ( Boudreau & Ramstad, 2007) .

Chapter 10 is the last chapter of the book describing the implementation of talentship organizations and how to make talentship work. The section touched on how to integrate talentship with existing mental models by describing the HC Bridge framework. Each organization has a set of mental models that are used when establishing measures, guiding discussions, and making decisions ( Boudreau & Ramstad, 2004) . The days of data shortages in HR has since passed as human resource managers now have enough information to make decisions. However, what is missing is the cognitive framework to help organizations in making sense of workforce-related information.

In this chapter, the authors discussed how human resource can evolve into an influential and vital discipline to help create a competitive advantage in an organization ( Boudreau & Ramstad, 2007) . According to the book, HR can achieve competitive advantage by maximizing the capability and engagement of employees and the available talent. Chapter ten was the last part of the book that described how the best decision-science-based change looks like. The section describes the various ways in which organizations are using HC Bridge framework to make talentship a substantial part of the approach to strategy and decisions ( Boudreau & Ramstad, 2004) . Planning the right human resource involves developing the correct HR to employee ratio and a precise HR matrix for measuring the performance of employees.

Chapter 9 introduces an aspect of LAMP framework as a HR measurement to address the challenges in organizations. This is a HR analytic model that comprises of for logic, analytics, measures, and process as the four components of a measurement system ( Boudreau & Ramstad, 2004) . The LAMP framework provides four elements that are critical to strategic change in an organization. For example, the lack of a proper logic in an organization will hinder precise future forecasting. The philosophy provides the measurement system a story behind the relationship between numbers and the subsequent results. Logic helps HR managers to utilize the measurement systems and improve judgments.

Managing HR-related data is a critical factor to the success of any organization, though progress in HR analytics has been slow. This is because the measurement is only as important as the decision it improves and the organizational effectiveness it achieves. The measurement component of the LAMP model helps in determining aspects such as employee turnover and its costs in the organization ( Lawler, 2008) . An efficient management system must match with the change management procedure. Then there is the process component of the LAMP model that describes how measurements have an effect on decision making and performance.

An organization needs a more user-friendly perspective to put HR data measures and analysis into working more effectively. HR metrics and analytics can be improved by applying analytics tools such as LAMP ( Lawler, 2008) . In essence, the LAMP model is a HR analytic emphasizes the issue of measurement to improve the quality of HR measures. It is based on the four principles of reliability, suitability, consistency, and comprehensiveness.

On the other hand, Chapter 10 of the book speaks about the HR Bridge Framework, which provides a common logic and language for HR and business leaders to streamline and refine strategic conventions. The framework outlines factors that supports talentship in an organization, including impact, efficiency and effectiveness ( Boudreau & Ramstad, 2004) . These components are common to all business decision sciences and can help in improving organizational performance.

The efficiency anchor point deals with resources that an organization uses during the HR function, including the time it takes to fill a vacancy in the organization. Secondly, the anchor point of effectiveness discusses the HR policies and practices that can influence talent pools in the organization ( Lawler, 2008) . Thirdly, the impact anchor point illustrates the fundamental differences that emerge when an aspect of talent decision making in the organization. An organization can use the traditional financial definition of success to determine the impact. A review of talent management shows how talentship has a significant effect on organizational performance and competitive advantage. The authors discussed the different ways what HC Bridge can be used to achieve a competitive advantage ( Boudreau & Ramstad, 2007) .

The book also illustrated the importance of having a decision science that can be described as a talent decision made using non-logical. The analytics models are different approaches that the HR uses to ensure the organization achieves the best results. The improvement in information technology has significantly affected the capacity of decision science and procedures ( Lawler, 2008) .

The conclusion of the book emphasized the need to analyze the HR function by the quality of decisions made about talent as opposed to the variety of its programs. It also proposes a focus on measuring critical enablers than building upon the already available data. The HR functions should occur across the organization as opposed to within the HR function by including the strategic decisions that an organization makes regarding people management ( Lawler, 2008) . This means the senior managers should be involved in making HR decisions. In essence, the book showed how HR is changing from being an administrative unit to a reliable strategic partner. This change means companies have to device ways of measuring the effectiveness of their HR department.

References

Boudreau, J. W., & Ramstad, P. M. (2004). Talentship and human resource measurement and analysis: From ROI to strategic organizational change.  Los Angeles, CA: University of Southern California .

Boudreau, J. W., & Ramstad, P. M. (2007).  Beyond HR: The new science of human capital . Harvard Business Press.

Lawler, E. E. (2008). Make human capital a source of competitive advantage.  Marshall School of Business Working Paper No. MOR , 16-09.

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