Network - Winter 2012 - (Page 9)

ASSOCIATION NEWS Introducing THE HUMAN RESOURCES INSTITUTE of Alberta (HRIA) is pleased to introduce Human Capital, the new official publication for the HRIA. With the launch of Human Capital, readers will see a shift from an association, member-centered newsletter to an industry, business-focused magazine. This new publication will reflect the growth and evolution of the human resources profession and its increasing influence and impact on business success. The objective of this new magazine will be to provide current and relevant information on trends and insights that further the advancement of business professionals and supports overall organizational success. The decision to change the current HRIA’s Network and HRAC’s Perspective to Human Capital was made for two reasons; firstly, in tandem with a new HRIA logo, it reflects the merging of the various HR associations within Alberta, and secondly the name reflects the publication’s shifting focus to HR issues delivered in an overarching business context. Traditionally, capital is referred to as the money, property, and other valuables that collectively represent the wealth of an individual or business. Human capital is described as the stock of competencies such as knowledge, social skills and personality attributes such as creativity, all of which are personified in the ability to provide economic value. When one thinks about Human Capital they should consider the following workforce challenges: organizational effectiveness, succession planning, strategic workforce planning, compensation/ total rewards, and occupational health, safety and wellness. While the Canadian economy fared comparatively well during the recent economic crisis, its effects were still felt, impacting some areas of the country more than others. HUMANCapital With Alberta’s economy tied so heavily to the energy industry, specifically the price of oil and gas, many organizations and their employees felt the pinch. Business leaders looked to their executives for creative ways to stay afloat and weather the storm. In situations like this, many look to what seems to be the most viable and easiest solution: reducing human capital. More often than not, THE O FFICIA L MAG ▼ ▼ ▼ minimal, if any, consideration is given to the residual implications and long term impacts of these actions. Cutting back on the workforce by encouraging early retirement and implementing mass layoffs typically means that companies are cutting back on prime industry experience and knowledge that is very difficult to regain. Jumping quickly to those solutions can often leave companies HUMAN Cap HUMANCapitalital RETHINK Y E HUM AN RES OURC ES INS TITUTE OF ALB ERTA THE OFFICIAL MAGAZINE OF THE HUMAN RESOURCES INSTITUTE OF ALBERTA WINTER 2012 AZINE OF TH WINTER 2012 OUR WORL RETHINK YOUR WORLD D How to Fin Develop Ta d, Keep and nt How to Find, Keepleandin a Tough Mark Develop Talent in a Tough Market et IN THIS ISSUE: Why Recrui ting Underp erforms Smart HR fo r Small Busi ness How’s Your Ener IN THIS gy Litera Boomerang ISSUE: cy? Part II Boom Why Recruitingers Underperforms Smart HR for Small Business How’s Your Energy Literacy? Part II Boomerang Boomers HUMAN CAPITAL O WINTER 2012 O 9 ▼ ▼ ▼ ▼ ▼ ▼ SS FO RWAR D DRIVING BUSINESS FORWARD DR IVI NG B U SINE

Table of Contents for the Digital Edition of Network - Winter 2012

Leadership Matters
Economic Pulse
Association News
Tech Talk
Why Recruiting Underperforms
Smart HR For Small Business
“ Custom Tailored” Total Rewards
How’s Your Energy Literacy? Part 2
Natural Resource Employers Facing Unique Challenges
Boomeranging Boomers
HR LegalEase
Index of Advertisers/

Network - Winter 2012