An organization is only as good as the people working for it. Human Capital, as the term suggests, is the monetary value that the employees of an organization bring to the organization. Employees from the leadership to the junior-most post, together form the backbone of the company. However, what most companies fail to focus on is the investment in their human capital. Sure, having decent packages for them is a good start and an honorable way of making them feel valued, but where do you go from there? This is where human capital investment comes into play. Here are some sure shot ways to effectively invest in your people and in turn gain the most benefits are:
1. Effective Employee Engagement
Whenever employees are more engaged, they tend to work better, both as an individual as well as a team. This also helps hike up their loyalty to the organization. One of the most successful ways to increase employee engagement is via advancing their careers and looking into their growth graph, helping them be the best version of themselves.
2. Higher Retention Rates
Employee engagement and high retention rates go hand in hand. A career-driven employee will always value special care and attention to their career advancement opportunities to a heftier package. People who feel that they are constantly growing and educating themselves while enhancing their skillset will be less likely to look for a new job. If they feel valued and are given ample incentives as well as promotions, they would not explore growth opportunities elsewhere.
3. Healthy Work Environment
Nothing is more significant than a healthy working environment. Environment, be it at home, in school or your workplace, essentially defines your level of productivity. It is what cushions the blows of failure, makes your career highs feel higher, motivates you to do better and boosts your confidence. A blooming work environment is a perfect balance between healthy competition and celebrating your co-workers’ successes. Company culture is defined by employee satisfaction, engagement, and communication. A good mix of all three leads to amazing human capital development.
4. Efficient Communication
Conversation births new and fresh ideas as well as helps resolve the most complicated issues. Human capital development is incomplete without effective communication. There should be ample communication between various levels of hierarchy and everyone’s doors as well as ears should be open for everyone.
5. Hiring the right people for the job
Retaining your employees is hard but finding employees worth retaining is even harder. It is not just about professional degrees and fancy talent, it is more about who fits your company culture and will be comfortable in the company culture. Finding the right people through human capital search services is key. While hiring new people, it is critical to make them feel comfortable and assure them that they will be nurtured while putting their skill-set to the best use.
Unless organizations strengthen their human capital, they cannot achieve sustained, growth. It is extremely important to invest in human capital development on a regular and timely basis to ensure your organization as well as your human capital reaches new heights and is at the top of their game always!
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