This unit applies to senior leaders or managers working to enhance individual, team and organisational capabilities.

While not all senior leaders and managers will operate within an organisation that acknowledges and treats people as a capital asset, training and related people development activities may be advanced by considering principles and practices relating to the concept of human capital.

The unit may relate equally to small scale learning activities within a small to medium sized organisation or a significant activity in a large organisation.

ELEMENT

PERFORMANCE CRITERIA

1. Identify human capital

1.1. Analyse and evaluate the principles of human capital theory and concepts

1.2. Assess the factors involved in the formation of human capital

1.3. Determine the capital asset value of human resources in an organisation, an industry or a region

1.4. Determine the relationship between human capital and organisational requirements

2. Consult on the advantages of human capital development

2.1. Develop and prioritise strategies for deploying human capital development strategies to support the organisation training needs profile in consultation with key stakeholders

2.2. Negotiate with key stakeholders on opportunities for collaborative human capital development projects

3. Develop and monitor human capital development

3.1. Complete human capital needs analysis and development planning according to organisational requirements

3.2. Analyse and interpret information and data on human capital gaps and forecasts

3.3. Implement options and strategies to develop, attract and retain talent

3.4. Implement options and actions to optimise asset value of human resources in relation to organisational strategic imperatives

3.5. Determine talent and develop the potential of human capital required to meet organisational requirements

3.6. Promote the capacity of the organisation, team and individual employees to achieve strategic and personal advantage through effort to develop human capabilities

Required skills

communication skills to:

research and analyse data

communicate ideas and organisational policies and procedures

seek opinions and to elicit feedback from a range of stakeholders

maintain appropriate relationships with colleagues and production staff

value and be open to, the opinions of others

work as part of a team

use active listening techniques

negotiate

planning and organising skills to prepare and consult on a human capital development plan

problem-solving, initiative and enterprise skills to:

evaluate talent and human capital requirements

undertake integrative thinking

conceptualise and synthesise complex concepts

self-management and learning skills to maintain records on talent and human capital for a work group or operational area

technology skills to complete online research or data collection, and to develop and monitor human capital value using basic computer applications.

Required knowledge

communication processes and methods

data collection methods

human capital audit and assessment

human capital development planning methodologies

methods to value human capital

organisational knowledge assets and capital reporting processes

relationship of human capital to knowledge management and reporting

relevant legislation, codes and by-laws that affect business operations, especially in regard to occupational health and safety (OHS) and environmental issues, equal opportunity, industrial relations and anti-discrimination.

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the following is essential:

accurate assessment of human capital value in an organisation through human capital analysis and measurement

documentation relating to data collection, and analysis of human capital and relationship to an organisation's knowledge management and human capital strategy

documentary evidence of human capital audit and production of a talent development plan

input from a wide range of sources providing evidence in respect to a broad range of activities and situations

knowledge of human capital audit and assessment.

Context of and specific resources for assessment

Assessment must ensure:

access to an actual workplace or simulated environment

competence is consistently demonstrated over time, and over a range and variety of situations

access to appropriate documentation and resources normally used in the workplace.

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:

direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate

completion of applied projects or learning activities - such as examining the relationship between human capital and human resource development; knowledge and organisational learning; talent attraction and development; and human capital and organisational agility

completion of an action research project isolating the relationship of human capital to an organisation's intellectual and knowledge capital

direct observation of contextual application of skills

oral or written questioning to assess knowledge of methods to value human capital.

Guidance information for assessment

Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:

BSBFIM701A Manage financial resources

BSBLED702A Lead learning strategy implementation

PSPHR616A Manage performance management system

PSPMNGT614A Facilitate knowledge management.

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Human capital is the:

capital asset value of knowledge vested in the individual that can be deployed to maximise organisational and industry competitiveness

Capital asset value is the:

determination of the value a business may derive from any stock of assets it owns, which can be deployed to create income, or from which interest and future value can be derived

Organisational requirements may include:

access and equity principles and practices

business and performance plans

collaborative partnerships and arrangements

confidentiality requirements

defined resource parameters

ethical standards

goals, objectives, plans, systems and processes

legal and organisational policies, guidelines and requirements

OHS policies, procedures and programs

organisational sociocultural circumstances and issues (for example, within Indigenous organisations)

quality and continuous improvement processes and standards

quality assurance and procedures manuals

recording and reporting procedures

Organisation training needs profile may include:

areas where staff may require further development linked to the organisation's goals and reflect:

age profile

composition - full-time, part-time, casual

formal education and training backgrounds

gender ratio

language and cultural backgrounds

occupational groups

organisational change programs

roster and shiftwork arrangements

Key stakeholders may include:

customers

instructional designers

instructors

learners

management and staff

members of the public

peers

public agencies, especially regulators

suppliers and learning partners

Human capital needs analysis is the:

determination of the gap between the human capital an individual, group, organisation or wider grouping (e.g. society or industry) requires as opposed to what is currently available

Information and data analysis will usually occur through deployment of:

business technology

software applications able to assess human capital

analysis methods such as:

data sampling

feedback on results

peer review

qualitative and quantitative processes

review of previous research

statistical analysis

Options for the purposes of human capital development planning may include:

availability of resources, such as financial resources, and information technology and systems

consultancy services

developing in-house capacity to meet identified needs

identifying training or assessment organisations to meet needs

identifying specific units of competency, Australian Qualifications Framework (AQF) qualifications or skill sets to meet needs

time lines

urgency

Talent concerns the:

total potential an individual brings to an organisation within both current and future contexts

Capacity includes:

all innate and explicit competencies and capabilities able to be deployed to achieve desired outcomes in both current and future contexts

Unit sector

Workforce Development - Learning and Development

This unit contains employability skills.