Human Resource Capital Management
Smart Data with its decades of extensive experience sees organisation as a combination of three elements namely Skills, Capability and Leadership. Indeed, all these three elements emerge from the most complicated and toughest resource to manage – The Human Resource Capital. Ample research and experimental data has proved over years that human resource has a tremendous effect on business outcomes. Thus, we believe in identifying, deploying, engaging and retaining human resource to build competitive edge as the key mantra of the era. Smart Data through its HR interventions helps its client.
1) To build and sustain structures, frameworks, policies and practices
2) To motivate, engage and retain talent, along with the flexibility to manoeuvre through the roughest tides of the time.
We undertake a collaborative approach in delivering value to our clients. We ensure that all our HR interventions are well aligned to outcome and business objectives. Our HR professionals carry a varied range of industry experience which makes us as your essential business partner in building and sharpening your competitive edge.
HR Strategy and Advisory
Smart Data believes that HR strategies must be derived and aligned to organisation’s short term and long term strategies. Hence under HR Strategy assignments, our professionals work in close conjunction with the client to understand the organization’s goals and core values and identify human resource needs for the present and future. Generally, our HR strategy and advisory interventions are related to drawing, retaining, developing, motivating, deploying and engaging human resource and their competencies for effective functioning and growth of organisation.
Organisation Structuring and Design
We assist our client in formulating a professional organisation structure and design which reflects what the organisation wants to achieve, its unique differentiators/ competitive advantages, and required capabilities. Various structural characteristic requirements such as extent of centralisation, span of control, integration, and specialisation will also be recognised against the priority areas as a part of this exercise. Our HR professionals are known for adopting a scientific approach and well defined methodology to address the requirement.
In most of the cases, we also develop Job Descriptions (JDs) to add clarity to roles & responsibilities, and also define Key Result Areas (KRAs) and Key Performance Indicators (KPIs).
HR Policy Manual
HR policies provide guidelines for organisations to manage its human resource in a standardised fashion. Smart Data has extensive experience in formulating HR administrative, compliance and systems policies which are the foundation for building an engaged workforce within the organisation. Each of the policy developed by our HR professionals will encompass various elements such as objective, applicability, policy, procedure, ownership and implementation responsibility, escalation matrix and tools and formats. We also extend handholding support for our clients towards implementation and audit.
Talent Management Systems
Systems are organised way of executing things, they hep in planning, build predictability and discipline within the organisation. Smart Data assists clients in building their talent management systems that reflects culture and gives opportunities for employees to learn and give their best on a continuous basis. Some of the system elements we work on are:
- Talent acquisition
- Competency mapping
- Induction and integration
- Performance management system
- Learning and development / Training
- Potential appraisal and development centres
- 360-degree feedback survey
- Rewards and recognitions
- Job rotation and enrichment
- Career and succession planning
Assessment centers are used for recruitment, promotions, training and leadership development. Smart Data adopts a 3 phased scientific approach for conducting assessment/development center. Our Assessors will use tools that exist in our Tool Bank or custom design the entire set of tools to assess level specific competency. Illustrative list of tools used:
Participant’s performance rating will be finalized during the Assessment/Development Centre(AC/DC) wash-up session by our team of Psychologists/Assessors.
The Individual Assessment Centre reports will focus on the strength and development areas of each individual. In addition, for each individual, psychometric report will also be prepared.
A consolidated report (Group report) will also be created. This version of the consolidated report (Group report) will be used during the discussion with head of the specific discipline/level/HR.
We will also create an organization Report/ Management report with a Rank Order matrix for each level. This report will throw light on the overall performance of the participants in terms of displaying their strengths, gap areas and the overall trends. This will enable the management to look ahead on the training interventions, formulating training calendar, coaching and other interventions specific to each level thus aiding the future development of each participant.
The above three reports when put together will reflect the current performance level of the person and also it reflects on the potentiality of these members to take up higher responsibilities.
Compensation system can help an organisation achieve and sustain competitive advantage by impacting people behaviours. Smart Data has far-reaching experience in formulating the pay model and compensation policy across industries. Our HR professionals adopt a 5 step benchmarking approach for formulating compensation structure and building framework for reward management, to address internal and external parity.
We collect data through a detailed questionnaire and focus on critical areas of responsibilities and job specifications for job matching. We also leverage on the data from our database based on the job specifications and comparator organizations. We convert market pay into a percentile range and data points of Minimum, 25th Percentile, Median, 75th Percentile and Maximum for better inference.