Career Definition of a Human Capital Strategist
Human capital strategists are involved with a company's human resources (HR) department. They help shape the strategies that will be used by the HR department to achieve their goals. As businesses evolve and adapt over time, they may need to alter their approach to their staff and how to fulfill staffing needs. Human capital strategists help evaluate existing practices and develop new strategies that are designed to meet the company's needs. This may involve changes to how a company attracts new staff, what they do to retain staff or how they assign staffing duties.
A human capital strategist could be considered part human resources manager, part strategist and part public relations specialist. As human resources managers and strategists they help reshape a company's relationship with their employees. The public relations aspect of their job comes in when they need to promote these strategies and their long-term goals to others involved with the company, such as board members. They may also be responsible for training human resources staff so that they understand changes in HR strategies and how to effectively implement those changes.
|Educational Requirements||Bachelor's degree|
|Job Skills||Leadership skills, good problem-solving skills, effective written and verbal communication skills, strong organizational skills, ability to multitask, people skills|
|Median Salary (2016)*||$106,910 (for all human resources managers)|
|Job Outlook (2016-2026)*||9% (for all human resources managers)|
Source: *U.S. Bureau of Labor Statistics
In order to pursue a career as a human capital strategist a bachelor's degree is required. It's most common for those entering this field to study human resources. Other areas of study that those interested in this career may consider include labor relations. Knowledge of business law or a master's degree in business administration may appeal to some employers.
Human capital strategists need to be able to work with a wide range of people involved in company operations, so they need to have good people skills and excellent communication skills. Since their goal is to ensure that the human resources department is operating as effectively as possible to meet the company's needs they need to be capable of analyzing situations to identify issues and then use problem-solving skills to effectively address those issues. They must be able to work on several projects simultaneously, so good multitasking skills are essential. They also need to be able to ensure staff support new goals and strategies so it is important that they are effective leaders.
Career and Salary Outlook
The U.S. Bureau of Labor Statistics (BLS) projects that human resources managers will see a job growth rate of 9% from 2016 to 2026. This is comparable to the national average for all occupations. Since the BLS does not have a separate listing for human capital strategists it is encompassed within the human resources manager occupation. The BLS reported that in 2016 human resources managers earned a median salary of $106,910 per year.
Since human capital strategists specifically focus on business strategies concerning employees, those who are interested in this field may be interested in other careers that involve addressing staffing issues. Those who work in conflict management or as labor relations specialists may help negotiate employee contracts or settle disputes between employees and employers. Industrial psychologists focus on understanding how a workplace environment can affect employees and they are often consulted by human resources departments to help them understand employee issues and identify potential solutions. The links here provide more details about these careers.