The traditional idea of human capital management, also known as human resource management, approaches the staffing issue with a long-term approach that considers the measurable value of human assets and the potential returns of investing in those assets. This may sound sensible, but in the modern economy and business environment it is not always beneficial or cost-effective for global companies to approach human resources this way.
First of all, people are not just resources – they are individuals with differing skills, training and knowledge that can be utilized to complete tasks that add value to the company. But they themselves are not assets. Maintaining full-time employee “assets” also uses a lot of resources. Maintaining employee records, communicating performance expectations, assessing employee performance, rewarding employee achievements and keeping them accountable for a high set of standards takes a great deal of time and money. And sometimes, the staff you need to complete a project won’t be the staff you’ll need a year from now. There are other options, though, such as Paragon Solutions’ studio model that utilizes external resources where appropriate and optimizes program delivery through efficient use of technology. As you’ll see, managing project resources doesn’t have to be difficult or costly.
The Problems with Traditional Human Capital Management
The staffing and project management models of the past may have worked at one point, but in today’s economy it can be challenging to complete different projects and deliver products on time and to the specifications with only the human resources on-hand. This is particularly true of IT projects, which are simply unavoidable in this day and age. Balancing the load and dividing up individuals and teams across all the projects being completed at any given time becomes increasingly difficult as companies grow and evolve. It isn’t always possible to bring on new staff members to complete upcoming projects, and even hiring contract employees for short periods of time does not always prove an adequate solution. Full-time staff are often paid for down-time between projects, and contract employees are often not committed to the task because they are more worried about their next job. The studio model provides an excellent solution by balancing the workload, increasing productivity of employees, reducing attrition and recycling resources as much as possible.
How the Studio Model of Project Management Works
The studio model takes a different approach to project resourcing that helps organizations make better use of their budget and the resources they have available. The traditional staffing model relies on full-time employees and all the long-term investments that go along with them, but the studio model relies on flexible staffing alternatives that plan for each project efficiently. Companies using the studio model can bring in the resources they need, when they need them, for whatever length of time they are needed. There are knowledgeable, qualified, trained and trustworthy professionals waiting for the opportunity to work on new projects, and consultancy firms such as Paragon Solutions understand how to bring companies together with these professionals for seamless results. By optimizing human resources and project delivery, organizations can increase the return on human resource investment and maintain a leaner, meaner operation.
The Many Benefits of Utilizing the Studio Model
It doesn’t matter what industry you’re in, from pharmaceuticals to telecommunications. Everyone is affected by the changes in our global economy and the increasing challenges of completing complex technology projects with the right people assigned to each task. Implementing and managing the studio model with cutting-edge analytics tools allows companies to address these challenges with solutions that make sense for the 21st century. Rather than perusing piles of CVs, interviewing countless people over multiple sessions and ultimately finding the right people to hire for a job, companies can immediately get the right people in and start the work needed to bring a project to completion. You can bring people in for a single project or more, depending on your needs and budget. When working with an experienced consultancy, you can be confident in the skills, knowledge and reliability of the individuals hired for each job. Most importantly, you can rest assured that the right people are working on each task, rather than the cheapest people. With the studio model’s focus on quality, efficiency and seamless product delivery, everyone wins.