This Week's Herman Trend Alert Demand-Driven Workforce Development

The Herman Trend Alert March 26, 2008 Making HR Metrics Serve the Bottom Line In our 2008 Workforce/Workplace Forecast, we discussed the growing importance of metrics (measurement) in Human Resources to drive more money to the bottom line. Recently, we met Janet Walsh, President of Birchtree-HR, Llc, the person who coined the term "Human Capital Financial Management" (HCFM). "In HCFM, we evaluate investments in people for their returns and link them to business strategy," said Walsh. "Research studies conclusively prove organizations that link human capital programs with business strategy enjoy six to 38 percent higher return on total capital than those that don't," she added. The best systems are the ones where there is a "clear line of sight" between the people programs and the business strategy. A global Human Resource consultant, focusing on HR strategy, compensation and performance management, Walsh is often asked, "How do I link the business strategy of the company to my programs?" Agreeing with our previous Herman Trend Alert, "The Future of Training Will Be Gaming And Simulation," Walsh and her colleagues created an HR simulation, called "At the Table". Created in conjunction with the Atlanta chapter of the Society of Human Resource Management and 16 CEOs, HR and business leaders, "At The Table" is a one-day competitive case study program that trains business executives in the use of human capital financial management techniques to increase organizational return on total capital. In the simulation, participants are challenged to create an optimal solution incorporating business and HR metrics including competitive industry measures, financial analysis techniques, HR program design in total rewards, staffing, training, performance management, and ethical decision making considerations. What makes this training program unique are the real-world, business issues in the case study, the advice and guidance of the Simulation executives and Jim McGuirk, former president of Unisys, whose comments offer a unique window on how CEO's make complex business decisions. Workbooks and DVD set are included. With experience in 58 countries, Birchtree also offers customized simulations, built around company-specific metrics. We believe that "At the Table" is a great example of the kind of simulations that will become more and more popular in the future. © Copyright 1998-2008 by The Herman Group, Inc. -- reproduction for publication is encouraged, with the following attribution: From "The Herman Trend Alert," by Roger Herman and Joyce Gioia, Strategic Business Futurists. (800) 227-3566 or http://www.hermangroup.com. The Herman Trend Alert is a trademark of The Herman Group, Inc." DON'T BE LEFT BEHIND! If you've been thinking about attending our valuable Employee Retention Specialist Certificate Program, don't delay--only three spaces remain. With the employment market heating up, many positions are literally impossible to fill. Attend this course and you will learn dozens of low-/no-cost valuable strategies to attract and retain the talent you need. Recertification credit from HRCI. Next program: May 22-23, Charleston, SC. Call Carol at 336-282-9370 or visit http://www.employeeretentionspecialist.com. GET INSIDE THE MINDS OF YOUR EMPLOYEES Find out what's really going on inside the hearts and minds of your employees. Our InnerViews interviewing service uses SPHRs and PHRs, certified human resource professionals to probe for the information you really need to know. Exit and Stay Interviews, as well as Why-Didn't-You-Take-Our-Offer Interviews. Call Rosalie Catalano at 937-648-1918 or read more at: http://www.hermangroup.com/retentionconnection/exit_interviews.html. NEW BABY BONUS Book Joyce to speak on the West Coast in 2008 and receive 100 of her books of your choosing. There is a new baby in the family, Spencer Jay, and Joyce would appreciate more opportunities to watch him grow. For more about Joyce, visit http://www.hermangroup.com/joyce.html or call Joyce at 336-210-3548. Herman Trend Alerts are produced by the Herman Group, strategic business futurists, Certified Management Consultants, authors, and professional speakers. New subscribers are welcome. There is no charge for this public service. The Herman Trend Alert is received by over 30,000 subscribers in 78 countries, in addition to other websites and printed magazines. Do you enjoy receiving this weekly e-mail update? Contact us about our co-branded Trend Alert service. Click here to sign up for the Herman Trend Alert. Subscribe or Unsubscribe to weekly Herman Trend Alert View this week's Herman Trend Alert Archived Weekly Herman Trend Alerts

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