Elvin Mahmudov

In today's competitive business landscape, companies are constantly searching for ways to maximize their efficiency and profitability. One often overlooked aspect of this quest is the value that human capital brings to an organization. Human Economic Value Added (HEVA) is a concept that sheds light on this crucial element, allowing companies to understand and enhance the true worth of their employees. Human Economic Value Added (HEVA) measures the economic contribution of human capital to a company. It goes beyond the traditional financial metrics and recognizes the impact that employees have on the organization's overall performance. HEVA takes into account factors such as skills, knowledge, experience, and productivity, providing a more comprehensive evaluation of the value employees bring to the table. Calculating and enhancing Human Economic Value Added is crucial for several reasons. Firstly, it allows companies to accurately evaluate the contribution of their employees, e

As businesses strive to achieve efficiency and productivity, one crucial factor that often goes overlooked is staffing norms. Staffing norms refer to the established guidelines and standards for determining the optimal number of employees required to fulfill the operational needs of a business. These norms play a significant role in ensuring that the business is operating with right number of staff, right people are in the right positions, leading to improved performance and cost saving. Implementing staffing norms in businesses is essential for several reasons. Firstly, it helps in maintaining an appropriate balance between workforce demand and supply. By analyzing the value chain, value stream map, business processes, activities, jobs, how the job is done, the technology and equipment used in value creation, market trends, historical data and projected growth, businesses can determine the ideal staffing levels necessary to meet customer demands without overburdening resources or incu

The oil and gas sector is known for its complex and demanding operations, requiring efficient and effective management of its workforce. In recent years, the integration of technology in various industries has revolutionized traditional processes, and the field of human resources is no exception. One such technology that has gained significant attention is Robotic Process Automation (RPA). RPA has the potential to streamline HR operations and enhance people management in the oil and gas sector. In the oil and gas sector, people management plays a crucial role in ensuring the success and productivity of the workforce. With a large number of employees, contractors, and suppliers, managing human resources becomes a complex task. HR professionals in this sector are responsible for recruitment, onboarding, training, performance management, and compliance. Effective people management is vital for maintaining a skilled workforce, ensuring safety, and achieving operational excellence. By lev

"The optimal span of control for managers is the extent to which they can assess and manage the individual effectiveness of employees" - Elliott Jaques Span of control refers to the number of employees who report directly to the manager. In the first half of the last century, the maximum number of employees directly subordinated to the manager was 6 people, or even less. But since the 1980s, with the development of industry and information technology, organizational leaders have flattened their organizational structure, and the upper limit of this range has been increased to 10 or more people. The main reason for this was the development of information technologies and the availability of these technologies. Information technologies have gradually replaced middle management functions such as collecting, processing, and presenting operational data, and organizations have been able to reduce the number of middle managers and employ more employees with fewer managers. It is no c

Diversity in counsel, unity in obedience to command The most important task of management is decision-making. As it is known, organizations are faced with the need to make decisions to solve the various problems they face from the day of their formation. Decisions made by organizations to solve their problems are called management decisions. Effective organizations outperform their competitors in terms of decision-making in 3 ways: - they make correct and reasoned decisions; - they make decisions faster; - they implement the adopted decisions more quickly and successfully. As can be seen, the decision-making process is considered very important in terms of the effectiveness and competitiveness of organizations and constitutes the core of the management process. The decision-making process in management is the selection of the best among the alternatives for the organization or individual individuals to achieve their goals within the scope of their duties and powers. The most import

Practicing once is better than reading a hundred times. Recently, I was having an interesting conversation with a young, but very potential and promising HR friend of mine. During the conversation, my young friend told an incident. I thought this event would be useful and wanted to share it with you. According to my young friend, there is a vacancy in the company where he works as HR. He also applies to his former university to fill the vacancy and asks the university to send some potential candidates who have recently graduated. The university, in turn, sends several potential graduates it deems suitable to an interview with our friend. During the interview process, young and inexperienced candidates try to show inappropriate sincerity, they prefer to talk about their shared values and mutual acquaintances, which they can have with our HR friend, rather than their personal professional qualities. This approach annoys our HR friend and decides not to hire candidates referred from the

A company that learns faster than its competitors can take a step ahead of the competition. In my article "Mastery System", I shared my thoughts about what this system is and what risks it has for the company. In this article, I will try to express my opinion on what steps should be taken to prevent such a situation in the management system. The reason for the existence of the mastery system is that the management system is not fully regulated. The lack of regulation of the management system means the absence or insufficiency of regulatory documents regulating the activities of the company. In unregulated systems, due to the fact that the problems that will arise related to the system op eration are not determined in advance, uncertainties and stops can occur in the process flow. In addition, one of the most affected systems within the company's overall management system is the company's human resources system. So, as I mentioned in the previous article, the maste