10 Principles for Building an Effective Human Capital Plan

TriNet (www.trinet.com) is a San Francisco-Bay Area based provider of HR outsourcing and consulting services to small and medium-sized companies throughout the United States and Canada. Contact Doug Bailey at doug.bailey@trinet.com for more information.

Almost every business leader will say that people are their most important asset, but few do anything about it. If you are going to take this principle seri-ously then human capital planning is crucial. The Human Capital Plan is an important tool that organizations use to drive focused actions that can ensure goal achievement and business success. It allows organizations to assess, plan for, and respond proactively to its human capital challenges and needs. It helps shape the organization by building a plan to develop the workforce and practices needed to meet an organization’s vision, mission, and goals.

Human capital challenges such as having capable leaders, building workforce skills, driving high per-formance, and ensuring retention of top talent can be addressed through effective human capital planning. The Human Capital (HC) Plan will establish a frame-work of policies, practices, and actions that guide your efforts in meeting these workforce needs.

Here are 10 principles to follow in order to build an effective human capital plan for your organization. (PDF)

Fair Labor Standards Act (FLSA): What You Need to Know

By Samantha Byrd, HR Business Partner, Helios HR

If you are a government contractor, whether you have 15 employees or 1500 employees, you need to understand the federal Fair Labor Standards Act (FLSA). Government contracts are heavily regulated, and if a contractor fails to comply with the complex array of government contracts laws and regulations, liability can be substantial.

The difference between exempt and non-exempt employees is who gets paid overtime and who doesn’t. Not knowing the difference between these categories could cost you a lot of money. Employees who qualify as “exempt” are exempt from overtime regulations (and minimum wage laws), whereas “non-exempt” employees must be paid for every hour of overtime they work.

Click here for the rest of the article.

PVBS DCAA Compliant Customer Powertek Featured in Case Study Now Posted on Microsoft Web Site

For Powertek Corporation, efficient financial management and compliance with Defense Contract Audit Agency (DCAA) requirements was a critical need. Powertek engaged PVBS to optimize its technology infrastructure and implemented Microsoft Dynamics NAV for Government Contractors, which facilitates complex reporting, compliance, and financial management; passed a DCAA audit; and now confidently pursues larger contracts.

Executives rely on real-time business intelligence to manage growth, and project managers have the insight to boost the performance of the company’s client commitments. Read the entire case study here.

Argy’s Charlie Bonuccelli Gives Tips on Hiring Best Compliance Staff

Charlie Bonuccelli is a Principal with the Argy, Wiltse & Robinson, P.C. (Argy), public accounting firm.  For the past 30 years, Charlie has assisted clients in dealing with a full range of federal government contract accounting and administrative issues including reviews of labor and accounting systems, internal controls over government contracts, claims and equitable adjustments, termination settlement proposals, litigation consulting, bid protests, estimating systems reviews, FAR Part 31 cost principles, Cost Accounting Standards and strategic planning.

He wrote a pretty compelling article for us on Compliance For Profit: Hiring the Right Compliance Staff.  There’s some great content to ensure that your staff is tip-top and optimal for your needs.

For most companies, it is easy to understand how hiring technical staff can enhance the profitability of the company. Such staff can improve customer relations, job performance and company reputations. The same can be said for hiring rainmakers, who have marketing skills and networks that increase opportunities for new work, but for indirect staff, like compliance staff, companies often see them as a burden that add little value. The reality is that indirect staff can directly affect the performance of government contracts and can enhance profitability or hurt the bottom line.

The rest of the article can be found here.

Charlie Bonucelli