[MUSIC] Welcome back. >> We're all really excited that you completed all four courses in the human resource management specialization. You now know about the context for managing people and- >> How to recruit, select, and onboard employees. >> And manage their performance. >> And how to compensate and reward them. And now it's time to apply what you've learned to the capstone project. >> Let's think back to the beginning of the specialization when we introduced you to the people manager value proposition. A value proposition is simply a statement of benefits. So the People Manager Value Proposition captures the benefits we will deliver to you through this specialization. And it also captures the benefits that you will bring to your organization, and to your career, after completing the specialization. >> The People Manager Value Proposition provides a guide to the key HR-related tasks of effective people managers and HR professionals And therefore, provides a roadmap for this specialization. Managers must know how to take organizational objectives and determine what people need to accomplish. And then understand how to devise and implement a strategy for leading and motivating employees to fulfill those goals. But this doesn't occur in a vacuum, it's influenced by organizational values, external factors like the legal environment, and maybe even labor unions. So it's this part of the people manager value proposition that I'll cover in the first course. >> Finding and hiring the right people is often cited as the number one concern of businesses today. It seems we are all competing for the best and brightest workers. As you will see in our time together in the second course, a critical component of the People Manager Value Proposition is to hire talented people who enable the organization to achieve its strategic goals. At the outset of the course, we will explore the importance of linking recruitment goals with overall company strategy. We then look at a number of options to recruit and select employees both effectively and legally. Throughout the course we will examine current issues and talent acquisition, such as how companies are now leveraging social media and hiring analytics to ensure better quality hires. >> Once you have hired good employees the next step that successful people managers take is to develop the full potential of their employees. Performance management is a process that helps managers achieve the goal of getting the best from their employees. In the performance management course, we'll discuss the skills and key processes you will need to develop your employees to attain department and organizational goals. These skills will include setting clear expectations, providing positive and corrective feedback, and delivering an effective performance appraisal. >> Successful people managers must also know how to reward employees. We begin from the question, what kind of a person must we attract, retain, and motivate in order to execute our business strategy? We'll discuss how your answer to that question can help you design salary structures, benefits, short-term incentives, and long-term incentives that are aligned to your business strategy. They'll also help you evaluate benefits and ensure compliance. >> We've all come a long way since the first video, and so have you. Now it's your turn to apply this framework to a real life situation. In the capstone project, you will pick a work unit to analyze. Don't try to analyze the entire organization, because the HR challenges and strategies will be too complex. Focus on a specific work unit, such as tellers in a bank, salespeople in any kind of organization, teachers in a school, or any other focus situation. >> We encourage you to analyze your own work unit, because that will be the most familiar and relevant to you. However, if you're not able to do that, that's fine. We have some guidelines for you in the next lesson. >> In the first peer review assignment, you will create a description of the unit you will be analyzing. And then you'll have the opportunity to get feedback from other learners to make sure that that description is clear and comprehensive. >> Once you have identified the working that you are going to use, you'll identify the key HR challenges for this work unit and construct a multi-step action plan for addressing these challenges. To do this you will need to apply the people manager value proposition to this work unit. As a foundation this begins with identifying the internal and external contexts as we discussed in my course. What is the work unit's mission? What do the employees need to accomplish? What motivates them? What economic, cultural, legal and other factors influence this work unit? >> In Recruitment, Selection and Onboarding course you already developed a workforce planning analysis. In week three you will take that to the next level and have an opportunity to develop a recruitment and selection plan. >> In the managing employee performance section, you'll have the chance to look at, does your strategy and your performance management match? You'll have a chance to look at your performance review process, and a chance to look at giving feedback. And finally, you'll look at the role of your culture and supporting ineffective performance management program. >> Lastly, as people managers, you'll need to evaluate and design an employee value proposition appropriate to your business strategy. This part of the capstone encourages you to evaluate the alignment of your business strategy and the compensation strategy. And then, the specific mechanics of an important component of the employee value proposition. >> To complete your project, you'll complete six peer review assessments. The first five are to get feedback from your peers. First, on your work unit's description, then on each of the four parts of the project corresponding to each of our courses. >> Your last peer review assessment, in week 6, is the submission of your final capstone project. This is the final project that needs to receive a passing grade from your peers. The elements in the final project are the same as in each component from weeks 2-5, but don't just submit everything you submitted the first time. Instead, use what you submitted in weeks 2-5 as your starting point. And use the feedback and reflection from weeks 2-5 to revise, and improve, your submission. In other words, think of what you produce during weeks 2-5 as your first draft, and now produce a revised final submission. >> As you can see, an important part of the capstone project is feedback from your peers. You'll need to include this to get an excellent final submission. >> This means that you'll also be reviewing the submissions of your other classmates. This is very important, as your feedback will be critical for them to improve their own projects. >> But reviewing other projects also provides an opportunity to think about managing human resources in other contexts and to reflect upon the strengths and weaknesses of your own capstone project. So, don't just use the peer assessment process as a way of giving feedback, use it as a learning opportunity as well. >> Good luck on your final capstone project. You've learned a lot in the courses, now put it to good use.
