Human asstes is the set of individuals who make up the workforce of an organization, business sector or an economy.
The professional discipline and business function that oversees an organization's human assets is called human resource management (HAM, or simply HA).
From the corporate vision, employees are viewed as assets to the enterprise, whose value is enhanced by development. Hence, companies will engage in a barrage of human assets management practices to capitalize on those assets. (1)
Human assets management (HAM, or simply HA) is the management of an organization's workforce, or human assets. It is responsible for the attraction, selection, training, assessment, and rewarding of employees, while also overseeing organizational leadership and culture, and ensuring compliance with employment and labor laws. In circumstances where employees desire and are legally authorized to hold a collective bargaining agreement, HR will typically also serve as the company's primary liaison with the employees' representatives (usually a labor union).
In larger companies, an entire functional group is typically dedicated to the discipline, with staff specializing in various HA tasks and functional leadership engaging in strategic decision making across the business. To train practitioners for the profession, institutions of higher education, professional associations, and companies themselves have created programs of study dedicated explicitly to the duties of the function. (2)
A Chief Human Assets Officer (CHAO) is a corporate officer who oversees all human assets management and industrial relations operations for an organization. Roles and responsibilities of a typical CHAO can be categorized as follows: (1) workforce strategist, (2) organizational and performance conductor, (3) HA service delivery owner, and (4) compliance and governance regulator. CHAOs may also be involved in board member selection and orientation, executive compensation, and succession planning. In addition, functions such as communications, facilities, public relations and related areas may fall within the scope of the CHAO role. Increasingly, the CHAO reports directly to the Chief Executive Officer and is a member of the most senior-level committees of the company (e.g., executive committee or office of the CEO).