BEAR - The Human Resources Inventory!

BEAR - The Human Resources Inventory!
(CopyRight 2009; Benjamin Goh, www.bensglobal.com)

Human Resource invesment is like any investment except that it is alive and always changing and unpredictable. It also requires a lot more maintenance to ensure that it is always motivated and innovated to add value to the company's entire value chain. As such, it is critical to differentiate a resource that will bring value today and consistenly to the future. The proper and good management of the right and adequate human resources brings about much more value to the company past, present and future success.
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Economic downturn is the best time to review all the resource inventories of the company, much more so, the human resources inventory that the company has and "BEAR" it out:-
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B for Business Plan Review. Since business may be slower than before, its good to re-look at the business plan that one has and ask the question of whether one should re-engineer it to make it more robust and more focus (niche) so that it is able to weather the current or future economic storm.
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E for Excellence. Once the business plan is reviewed, one should look at the core competency of the company and asked the question of whether the company and its resources are, at the least, comparable to the industry's level of excellence. If not, what does it take to bring the current human resource inventory to the industry's
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A for Attitude. Like the engine of a car where it is most critical to the proper and smooth functioning of the car, the right attitudes of the employees are similarly the critical success factor of the company. As such, it is critical to ensure that attitudes of employees are screened regularly and if possible, face-to-face personal interviews are conducted for all employees to investigate, understand and separate the good eggs from the bad ones.
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R for Resource Inventory Review. With the revised business plan, this would naturally lead to a review of the current and planned resource inventory. The question would be focus along the quality and quantity of the human resource inventory and whether they meet the requirements of the revised business plan. Good and inexpensive human resources are plentiful during economic crisis as it is now. As such, it would be a good time to review if the current crew is value-add or value-minus for the company's current business and future prospect.