Introduction to Human Resources Management
Matching the right person to the right job is the primary objective of any human resource manager. If you had a company of highly trained, well informed, and happy staff, you would control the best place to work in the whole wide world. To me, the best place to work is Santa’s Workshop. Think about this for a minute, everyone is working towards the same goal, everyone is happy, everyone is skilled in their respective positions, there are no personnel issues, there’s no calling in sick, there’s no tardiness. It is perfect. This is the goal of every human resources director.
But let us come back to the real world. Staff bring their personal issues with them to work. They bring financial issues, they bring family problems, and they even bring their poor personal habits too. Darn it, why can’t we have the Santa workshop? It is the job of the human resources director to minimize these issues and achieve cohesion within the workforce. How do we do this?
In any business operation, you have to identify the culture of the business and then identify the type of employees you are going to hire. From there you need to recognize the most likely problems and how you are going to address them. What works for one type of operation is not going to work for another. As an example, individuals hired by an engineering/architectural firm are going to work in a different culture than those of a landscaping business. There’s a difference in pay, a difference in education, a difference in the work ethic that exists that establishes a culture for the owner. All of these elements are driven by economic forces; the landscaping business is going to get younger and often less driven employees to work for them. The Engineering firm hires well educated staff that is at least beyond college age and these individuals are driven to excel in their work goals.
As the human resources director, you need to identify these elements and lay out a plan to deal with the associated issues. How do you do this?
There are many tools to meet this goal. But there is one document that articulates this and becomes the book of law as it relates to personnel. The primary document is the policies and procedures manual. It is here that you address these issues and identify the proper ways to minimize and address problems. You document a hiring process, a training requirement, and how to deal with operational issues. The answers will be different depending on the nature of your business and the culture you work in from day to day. I will help you as we document and address these in future articles. It would be nice if it were a perfect world and we could work in Santa’s workshop, but that isn’t the case. So we have to plan ahead, expect the unexpected, and address this in a plan that allows for efficient and effective management of personnel.
Matching the right person to the right job is the primary objective of any human resource manager. If you had a company of highly trained, well informed, and happy staff, you would control the best place to work in the whole wide world. To me, the best place to work is Santa’s Workshop.
As the human resources manager, it is your job to hire the right types of personalities and skills to perform the job. When you understand the work environment you will do a better job of filtering the applicants so you have the greatest opportunity for retention and efficiency. Act on Knowledge.
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Then learn about Value Investing. Value investing in the simplest of terms means to buy low and sell high. Value investing is defined as a systematic process of buying high quality stock at an undervalued market price quantified by intrinsic value and justified via financial analysis; then selling the stock in a timely manner upon market price recovery.
There are four key principles used with value investing. Each is required. They are:
- Risk Reduction – Buy only high quality stocks;
- Intrinsic Value – The underlying assets and operations are of good quality and performance;
- Financial Analysis – Use core financial information, business ratios and key performance indicators to create a high level of confidence that recovery is just a matter of time;
- Patience – Allow time to work for the investor.
If you are interested in learning more, go to the Membership Program page under Value Investing section in the header above.
Join the value investing club and learn about value investing and how you can easily acquire similar results with your investment fund. Upon joining, you’ll receive the book Value Investing with Business Ratios, a reference guide used with all the decision models you build. Each member goes through three distinct phases:
- Education – Introduction to value investing along with terminology used are explained. Key principles of value investing are covered via a series of lessons and tutorials.
- Development – Members are taught how pools of investments are developed by first learning about financial metrics and how to read financial statements. The member then uses existing models to grasp the core understanding of developing buy/sell triggers for high quality stocks.
- Sophistication – Most members reach this phase of understanding after about six months. Many members create their own pools of investments and share with others their knowledge. Members are introduced to more sophisticated types of investments and how to use them to reduce risk and improve, via leverage, overall returns for their value investment pools.
Each week, you receive an e-mail with a full update on the pools. Follow along as the Investment Fund grows. Start investing with confidence from what you learn. Create your own fund and over time, accumulate wealth. Joining entitles you to the following:
- Lessons about value investing and the principles involved;
- Free webinars from the author following up the lessons;
- Charts, graphs, tutorials, templates and resources to use when you create your own pool;
- Access to existing pools and their respective data models along with buy/sell triggers;
- Follow along with the investment fund and its weekly updates;
- White papers addressing financial principles and proper interpretation methods; AND
- Some simple good advice.