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.

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