Building Human Capital in the Chemical Industry – Summary
This is the last blog in my series on building Human Capital in the Chemical Industry. I will use this post to summarize and define some key practices to successfully build human capital and hence ensure profitable operations in the Chemical Industry.
If you want to learn more about key HR trends in the Chemical industry be sure to check out Part1. If you want to explore key priorities that should be considered by a HR Manager check out Part 2. If you want to read more about how through various roles HR ensures profitable operations in chemical companies be sure to check out Part 3.
Summary and Key Practices and Policies to build Human Capital in a Chemical Company
As the chemical industry faces talent and skill shortages, it is important (and timely) that chemical companies setup required processes, systems and infrastructure to build and strengthen human capital in their organizations. This can be achieved by following initiatives and processes:
- Define talent as a strategic resource
Measure and define overall talent and skill position
- Ascertain business impact of HR investments
- Validate and plan workforce capabilities to execute business plans / strategy
Develop strategies and programs (innovative job profiles, job rotations) to retain and reward high performers
Setup a learning culture in the organization
Ensure safe (remove risks) shop floor operations
Create an engagement model with the workforce to ascertain their suggestions and feedback
Do you agree with the initiatives listed above? Should any key initiatives be added to this list? Feel free to use the comment space below to share your thoughts on the entire blog series (Building Human Capital in the Chemical Industry). Or share your thoughts with us at @SAP4Chemicals