President Bush”s number-one management initiative for the federal government is the Strategic Management of Human Capital. According to Knowledgeworkers.com, human capital is the accumulated value of an individual”s intellect, knowledge, and experience. In the U.S. federal government, a human capital crisis exists. The factors contributing to a human capital dilemma include a knowledge bleed due to retirement eligibility, changing perspectives on work, and escalating knowledge loss. According to a Joint Hearing on the Federal Human Capital, by 2005, more than half of the 1.8 million non-postal civilian employees will be eligible for early or regular retirement. An even greater percentage of the Senior Executive Service, the government”s core managers, will be eligible to leave.
All government agencies are required to develop a human capital strategy by 2005. Many of these agencies have scored a ‘red’ (lowest rating) on the Government Scorecard in the way they are approaching their strategic management of human capital. This book is an executive briefing on developing a successful human capital strategy based on lessons learned from analyzing existing strategies at government agencies such as NASA.
Using a knowledge management perspective, Liebowitz identifies four pillars of an effective strategy and gives examples of these in practice.
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