International Journal of Research Studies in Management
CollabWritive Special Issue
2023 Volume 11 Issue 12
Available Online: 31 December 2023
Author/s:
Escano, Jeanrose C.*
Divine Word College of San Jose, Philippines (jeanroseescano@gmail.com)
Limos-Galay, Jenny A.
Divine Word College of San Jose, Philippines (jennygalay05@gmail.com)
Abstract:
The management of human capital has become more and more important for organizations to achieve sustainable success as the modern workplace changes. This descriptive research aimed to determine the challenges faced by management accountants regarding human capital management in the accounting and/or finance department of the National Food Authority, San Jose, Occidental Mindoro. Data were collected from 30 non-randomly chosen management accountants/ accounting staff using a self-constructed survey questionnaire. The findings showed that among the five main challenges encountered in human capital management, developing and implementing effective performance management systems has a high weighted mean of 3.47 with the interpretation of strongly agree while the least is aligning employee goals with organizational goals with a weighted mean of 3.23 interpreted as agree. Other findings of this study showed the importance of technology and data analytics in human capital management for identifying high-potential individuals, assessing their preparation for leadership positions, and building development programs to prepare them for future jobs. And for the performance of management accountants’ findings, showed that they are equipped to face the challenges of human capital management in the modern workplace. Therefore, it is recommended that an organization invest in technology and data analytics to improve talent acquisition, simplify the recruiting process, increase staff retention rates, track employee performance, identify high-potential individuals, and maintain proper record-keeping lastly, they may continue to attend training and seminars to stay current with evolving technologies and to have a wide understanding of the business to which they belong.
Keywords: human capital management, challenges faced, management accountants, effective performance, National Food Authority
DOI: https://doi.org/10.5861/ijrsm.2023.1149
Cite this article:
Escano, J. C., & Limos-Galay, J. A. (2023). Human capital management in the modern workplace: Challenges and strategies for management accountants. International Journal of Research Studies in Management, 11(12), 33-39. https://doi.org/10.5861/ijrsm.2023.1149
* Corresponding Author