6 Elements for Managing Workforce Talent-Vol. 1b

As aging workforce demographics result in a smaller workforce pool and economic growth continues, human capital is becoming more valuable. Without a skilled and motivated workforce, companies have little chance of realizing their full potential and profitability. Many are realizing that to survive over the long term, talent management, culture, and organizational commitment are becoming the new gold. Accounting provides important information that is often outdated and does not necessarily determine what a company will do in the future; it only predicts. What determines a company's future are the makeup and actions of its workforce. 6 Elements for Managing Workforce Talent is Volume 1b of Howatt HR Consulting's Talent Management Series that has been developed to promote strategic talent management considerations. Volume 1b introduces six elements that help companies enhance their talent equity -- the accumulated value an organization gains from its workforce. Each of the six sections has been developed to assist human resources and business leaders to facilitate a discussion on what they are doing and may need to improve to manage and develop their companies human capital. William A. Howatt,PhD, EdD, Post Doc Behavioral Science UCLA School of Medicine, is CEO of Howatt HR Consulting Inc., a strategic human resources management company. Howatt HR Consulting focuses on assisting companies to gain a significant competitive edge for their organization by minimizing risk to talent equity. This is accomplished through defining, designing, and developing talent management solutions for removing potential talent equity risks and to filling gaps.