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Integrating Strategic Human Capital And Strategic Human Resource Management Within An Organization

Abstract: The quality of a firm's human resources can hurt the market position of the organisation. Within the organisation, an investment in human capital is viewed as just that: an investment. The current iteration blends two distinct methods of human capital research, namely Strategic People Capital (SHC) and Strategic Human Resource Management, to serve as a tool that may illustrate the value that a firm's human capital contributes to the company (SHRM). Research that focuses on somewhat different components and levels of strategic management's usage as organisational human capital as integration opportunities can build on a solid foundation that is provided by the ever-evolving features and applications of strategic management in a variety of fields. These applications provide a solid foundation for research. When it comes to human resources, problems can be solved and organisations' human capital can become more effective and productive if strategic human resource management and SHRM collaborate.

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Notices, Deadlines & Correspondence

Patent Information

Application #
Filing Date
26 May 2022
Publication Number
23/2022
Publication Type
INA
Invention Field
COMPUTER SCIENCE
Status
Email
a2zsoftech.2010@gmail.com
Parent Application

Applicants

Rajesh Gupta
Assistant Professor, School of Applied Management, Rajiv Gandhi Proudyogiki Vishwavidyalaya Bhopal
Ashvine Kumar
Controller of Examinations, CCS University, Meerut
Nishtha Sharma
Assistant Professor, School of Commerce Management and Research, ITM UNIVERSITY Raipur, Chhattisgarh
Sweena Kashyap
Assistant Professor, School of Commerce Management and Research, ITM University, Raipur, Chhattisgarh
Hareesh Kumar Barman
Assistant Professor, School of Commerce Management and Research, ITM UNIVERSITY Raipur, Chhattisgarh
Namrata Kedia
Assistant Professor, School of Commerce Management and Research, ITM University Raipur, Chhattisgarh
Md. Faisal Khan
Assistant Professor, School of commerce Management and Research, ITM UNIVERSITY Raipur, Chhattisgarh
Iskandar Muda
Accounting College, Universitas Sumatera Utara, Medan, North Sumatera, Indonesia
Rohit Bansal
Assistant Professor, Department of Management Studies, Vaish College of Engineering, Rohtak
Deo Karan Ram
Associate Professor, Petroleum and Chemical Engineering, NIMS University Rajasthan, Jaipur
Ms Priyanka Aggarwal
A2Z Softech, Ghaziabad, UP, India

Inventors

1. Rajesh Gupta
Assistant Professor, School of Applied Management, Rajiv Gandhi Proudyogiki Vishwavidyalaya Bhopal
2. Ashvine Kumar
Controller of Examinations, CCS University, Meerut
3. Nishtha Sharma
Assistant Professor, School of Commerce Management and Research, ITM UNIVERSITY Raipur, Chhattisgarh
4. Sweena Kashyap
Assistant Professor, School of Commerce Management and Research, ITM University, Raipur, Chhattisgarh
5. Hareesh Kumar Barman
Assistant Professor, School of Commerce Management and Research, ITM UNIVERSITY Raipur, Chhattisgarh
6. Namrata Kedia
Assistant Professor, School of Commerce Management and Research, ITM University Raipur, Chhattisgarh
7. Md. Faisal Khan
Assistant Professor, School of commerce Management and Research, ITM UNIVERSITY Raipur, Chhattisgarh
8. Iskandar Muda
Accounting College, Universitas Sumatera Utara, Medan, North Sumatera, Indonesia
9. Rohit Bansal
Assistant Professor, Department of Management Studies, Vaish College of Engineering, Rohtak
10. Deo Karan Ram
Associate Professor, Petroleum and Chemical Engineering, NIMS University Rajasthan, Jaipur
11. Ms Priyanka Aggarwal
A2Z Softech, Ghaziabad, UP, India

Specification

This invention demonstrates the need of integrating strategic human capital and strategic human resource management in an organisation, which are two different but crucial ideas of Human Resource Management in an organisation.

PRIOR ART
Human Capital and Human Resources are critical to a company's ability to meet its expanding demand. Human capital and human resources are currently viewed as the most important assets for businesses. The firm can’t fulfil its objectives if human capital is not properly utilised. The integration of strategic human resource and strategic human capital frameworks enables an organisation to more effectively plan, track, and screen its important HR needs, without devoting an excessive amount of resources to the process. Any time a company must make a decision that has an impact on its overall performance, it must rely on its human resources and human capital to get it right. It is the primary goal of the current implementation to design and execute a Human Resource Management System that encompasses both the concepts of strategic human capital and strategic human resource management. To quantify the value an employee brings to a firm, it is necessary to look at the individual's abilities and competencies. While human capital is a limited resource, it has the potential to increase production, efficiency, and profitability.


DETAILED DESCRIPTION
In the current incarnation, the primary emphasis is placed on two distinct ideas that are still undergoing development, namely SHC and SHRM. Strategic Human Capital Management, on the other hand, places more emphasis on the HR system rather than on human capital itself. The concepts of human resources and human resource development are inextricably linked since both investigate how existing and potential human capabilities might be put to work to achieve the highest possible levels of efficiency and output. Although it is impossible to foretell the future, management is responsible for ensuring the continued growth and success of the organisation. In this hypothetical situation, the incorporation of SHC and SHRM into the organisation will directly become the organization's most prominent public face. The use of concepts and policies of strategic management in various disciplines, such as human resources and health care, assists the human resources department in building a positive relationship between an organization's most valuable asset – its people / human resources – and the strategic direction of the company. This is because human resources play a very important role in the expansion of an organisation. When it comes to the conceptual meaning of the term "human capital," it refers to the skills, training, experience, education, knowledge, know-how, and competencies that are currently being contributed by humans to an organisation in some capacity. This could be in the form of an employee, former employee, or graduate student. To put it another way, we may say that human capital is the effectiveness of the organization's present pool of available people resources in their roles within the company. Additionally, a firm can increase its human capital by ensuring that its employees are properly educated, deployed, trained, and retained. On the other hand, human resources refer to the accessible human skills, knowledge, and expertise that may be drawn on whenever it is necessary to do so. The SHC emphasizes how businesses make use of their human capital to influence the generation of outputs and results that are performance-oriented. SHRM stands for strategic human resource management, and it is an extension of the department of human resources. SHRM plays a leading role in the planning of overall business strategy while also managing the most significant resource an organisation possesses, which is its employees. SHRM raises awareness about how management may significantly accelerate the growth of a company by connecting HR strategy with business strategy. The combination of these two management principles helps to produce organisational personnel and individuals who are a good fit for the aims and vision of the company.

We claim:

1. Integrating strategic human capital and strategic human resource management within an organization is one of the significant concerned areas for future research.
2. As in claim 1, According to the findings of the research, strategic human capital, as well as strategic human resource management, play an important part in the distribution of an organization's human resources as well as the organization's overall growth.
3. As in claim 1, wherein it was stated that in recent years, strategic management has been employed in a variety of fields and that if it were used properly and efficiently in the notion of Human Resource Management System, it would move the business to the next level.
4. As in claim 1, Integrating SHCM with strategic HRM is a new field that is becoming increasingly important for organisations to have as risk managers.
5. As in claim 1, SHC and strategic HRM appear to be complementary, according to the available research. Strategic human capital management (HRM) and strategic human capital management (SHC) go hand in hand to help an organisation strengthen its human capital and overcome its weaknesses.

Documents

Application Documents

# Name Date
1 202211030355-COMPLETE SPECIFICATION [26-05-2022(online)].pdf 2022-05-26
1 202211030355-STATEMENT OF UNDERTAKING (FORM 3) [26-05-2022(online)].pdf 2022-05-26
2 202211030355-DECLARATION OF INVENTORSHIP (FORM 5) [26-05-2022(online)].pdf 2022-05-26
2 202211030355-REQUEST FOR EARLY PUBLICATION(FORM-9) [26-05-2022(online)].pdf 2022-05-26
3 202211030355-FORM 1 [26-05-2022(online)].pdf 2022-05-26
4 202211030355-DECLARATION OF INVENTORSHIP (FORM 5) [26-05-2022(online)].pdf 2022-05-26
4 202211030355-REQUEST FOR EARLY PUBLICATION(FORM-9) [26-05-2022(online)].pdf 2022-05-26
5 202211030355-COMPLETE SPECIFICATION [26-05-2022(online)].pdf 2022-05-26
5 202211030355-STATEMENT OF UNDERTAKING (FORM 3) [26-05-2022(online)].pdf 2022-05-26