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Strategic Human Asset Management - Humans are the New Assets.

Presenter: Ron Gavrin
Principal, Self Employed
The new ISO 55000 Asset Management standard has expanded the concept of Assets to include Human Resources. But is industry really prepared to make informed Decisions on Human Resource programs, as they do for physical assets? Furthermore, does industry have tools to evaluate the benefits of various Human Resources programs to mitigate the retirement of an aging workforce, especially in overheated sectors like oil and gas. The paper reviews some programs that were introduced in a large utility to mitigate the effects of its workforce retiring, such as mentoring, rejuvenation hiring, and procedures updating. The review will include 5 different HR strategic programs that were implemented to offset the impact of an ageing workforce. The impacts of these HR programs cannot be evaluated using ordinary Engineering Economics analysis. However some tried and tested quantitative and qualitative techniques are proposed that could improve HR program valuation. This paper proposes some approaches to evaluate HR decisions in industry, using tried research methods from academia and based on programs introduced in a large industrial organization to manage the transition as its ageing work force retired.
About the Presenter:

Ron Gavrin is retired from a 30-plus-year career as an engineer and MBA in various industries—electrical, utility, paper, mining, and petroleum. Most of his career was spent in the nuclear sector with Ontario Hydro (OPG), where he worked as the business superintendent and project controls manager for major nuclear projects in Darlington, Ont., and he has implemented programs in business risk management and nuclear system long-term planning (i.e., strategic asset management). He now teaches project management, risk management, asset management, engineering management, energy management, and cost engineering at various institutions in Toronto.