Human capital is defined as the skills, talent, and experience carried by the workforce of a business. Every business derives economic value from these skills and talent, and human capital development has a direct correlation with business growth. It is not a secret sauce, but a well-known fact that the people make an organization, more than the financial or infrastructure capital of the business. Human capital is the single most valuable asset that does not get a place in the balance sheets of an organization.
It is clear that if you want to grow and stay ahead of the competition then you should invest in your human capital and human capital search. It is very important to source and retain the right talent who will help you navigate through the tough waters of the business landscape. Human capital development can be in the form of training, webinars, or seminars, the lenses can be different, but the focus should on be the development of new skills and helping each employee grow and realize their ambitions.
If you still have doubts on how human capital development
would be the most important fuel for business growth, then here are the top reasons for the same –
Improve employee satisfaction and retention – When you spend on your employees, they give you back with increased productivity at work. More than 60% of employees across the globe give more importance to career advancement than salary. Hence, employee growth and advancement can help you retain your workforce, enhance their motivation, and generate more productivity. A little investment in your human capital services can save a lot on employee turnover.Increase client engagement
– With a product workforce, you can be sure that your client engagement and satisfaction would also increase. This would increase your brand value and name in the world of business. Your workforce is like the face of your organization and when they grow, you grow together as an organization. Happy and motivated employees will push the brand higher and become the brand ambassadors advocating about your organization.Better hiring
-When you invest in human capital and your workforce talks about it. It establishes a brand name and value for your organization. Every talent in the market would love to work in an organization that values growth, advancement, and leadership and invests heavily in human capital development
. Thus, partner with the best human capital search organization and hire the best talent in the market.Improve communication
– Human capital development will improve every area of your business including communication. Satisfied and productive employees will enhance communication within your organization both in terms of quality and quantity both upwards and downwards. This will allow you to identify many gaps, and lack in skillsets, and thus make smarter investments in human capital development.
You need to invest in your human capital to realize growth and profits. It is essential to keep your business operating today and take your business forward tomorrow. Hence, it is rightly said that human capital is the engine that leads the train of your business growth for a future tomorrow!
At The Taplow Group we have extensive experience in designing, delivering, and benchmarking Human capital projects in addition to human capital services, to ensure our clients fully realize their employees’ full potential. Get in touch with us today at www.TaplowGroup.com