By Dr. Shirley J. Caruso, Ed.D.

Buzzwords are commonly used terms or phrases that are connected with a specialized field, such as Human Resource Development (HRD).  These words may be true to their conventional meaning, or unfamiliar and difficult to understand for those unassociated with the field in which they are used.  Buzzwords may gain or lose popularity, depending on the popularity of the trend or information for which they were created.

HRD Buzzwords and their Definitions

Identified and defined in the following paragraphs are five buzzwords relevant to workplace performance found in three articles of www.clomedia.com.  The key points of each article from which they were derived are then summarized.

•  Intellectual capital refers to the ideas and knowledge that employees own that make a company competitive.

Source: Prokopeak, Mike. (March 2008). Leveraging Intellectual Capital for Organizational Gain. Chief Learning Officer. Retrieved July 29, 2010, from http://www.clomedia.com/features/2008/March/2098/index.php

•  Knowledge sharing is the exchange of information, skills, or expertise among select members of an organization that forms a valuable intangible asset that is typically not shared with the entire organization.

Source: Prokopeak, Mike. (March 2008). Leveraging Intellectual Capital for Organizational Gain. Chief Learning Officer. Retrieved July 29, 2010, from http://www.clomedia.com/features/2008/March/2098/index.php

•  Multifunctional refers to a person who possesses or satisfies many or multiple functions.

Source:  MediaTec Publishing. (February 2008). Most HR Pros Feel Their Workforces Are Inadequately Prepared. Chief Learning Officer. Retrieved July 29, 2010, from http://www.clomedia.com/in-the-news/2008/February/2068/index.php

• Skills gap is the difference between the skills needed for the job and the skills possessed by the employee or applicant.

Source:  Lee, Susan.  (February 2008).A Look Ahead: The Training Industry in 2008. Chief Learning Officer. Retrieved July 29, 2010, from http://www.clomedia.com/business-intelligence/2008/February/2083/index.php

• Talent management is the practice of shaping and nurturing new employees into an organization’s culture, shaping and nurturing current employees, and drawing highly skilled workers to work for an organization.

Source:  MediaTec Publishing. (February 2008). Most HR Pros Feel Their Workforces Are Inadequately Prepared. Chief Learning Officer. Retrieved July 29, 2010, from http://www.clomedia.com/in-the-news/2008/February/2068/index.php

Talent Management:  Retention, Development, and Performance of Employees

An astounding 94 percent of HR professionals feel that their personnel are inadequately prepared to meet the future goals of their companies.  Organizations today are faced with issues relating to the retention, development, and performance of their employees.  In a worldwide survey of more than 250 HR professionals from a variety of industries and among small, midsize and large organizations, talent management initiatives were sited as top priorities to address these concerns.  Their line of attack includes management of human capital to ensure optimal employee performance and accountability to compose a superior corporate culture to effectively compete and meet future goals.

The worldwide survey revealed that organizations are focusing on workforce productivity.  Individual roles are requiring ongoing training as they become more multifunctional, companies are supporting global initiatives, strategic human resources are being outsourced, improved talent management is gaining productivity and reducing costs, and organizations are developing new approaches to staff hiring and retention.

Source:  MediaTec Publishing. (February 2008). Most HR Pros Feel Their Workforces Are Inadequately Prepared. Chief Learning Officer. Retrieved July 29, 2010, from http://www.clomedia.com/in-the-news/2008/February/2068/index.php

Employee and Employer Benefits of Training in Closing Skill Gaps

The learning industry is confident that an increase in support from upper management and an increased demand for training and development will be two important trends for organizations.

Companies are beginning to increase their focus on training, a win-win situation for the employer as well as the employee.  Training benefits employers by enhancing employee skill sets, resulting in higher performance.  Employees appreciate the employer commitment training shows and they become motivated to work both smarter and harder.  An effective learning organization makes the company more attractive to perspective talented employees.

Talent is what distinguishes a company from it competitors, and the ability to train employees effectively is a necessity. In order to address current and future vacancies, organizations are exploring skill models to help them identify skill gaps and develop the necessary skills within the organization.

Source:  Lee, Susan.  (February 2008).A Look Ahead: The Training Industry in 2008. Chief Learning Officer. Retrieved July 29, 2010, from http://www.clomedia.com/business-intelligence/2008/February/2083/index.php

Knowledge Sharing Principles and Practices

Businesses are realizing that the knowledge residing in their intellectual capital is important in creating economic power and value.  As the head of the learning department, Chief Learning Officers (CLOs) have the best understanding of learning methods and modalities.  They can set a budget to keep knowledge fresh and provide access to the latest information and tools.

However, CLOs also must realize that much of the organization’s knowledge is transferred informally between its workers. Workers talk to each other at the water cooler, at lunch or in informal conversations throughout the day. These social opportunities are critical to building a workforce that leverages its intellectual capital.

CLOs must also be able to identify and understand some of the tools that people can utilize to enhance the knowledge sharing in the company.  Online collaboration tools such as wikis, social-networking sites and blogs are notable new tools for knowledge sharing.

Rather than controlling knowledge-sharing, some organizations are attempting to facilitate its growth by creating knowledge-sharing events, such as employee trade shows and open forums to encourage employees to share knowledge with each other.

But before implementing knowledge-sharing practices or new collaboration tools, CLOs must have a good understanding of the organizational culture and its readiness to share. They should test new approaches with selected groups before implementing them across the organization.

Source:  Prokopeak, Mike. (March 2008). Leveraging Intellectual Capital for Organizational Gain. Chief Learning Officer. Retrieved July 29, 2010, from http://www.clomedia.com/features/2008/March/2098/index.php

Summary

Organizations are focusing on workforce productivity and are beginning to increase their focus on training, a win-win situation for the employer as well as the employee.  Organizations are realizing that the knowledge residing in their intellectual capital is important in creating economic power and value.  Knowledge is power, and today’s learning executives have a major responsibility in leveraging the power of that knowledge to achieve the organization’s goals.

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