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5 Ways to Improve Human Capital

July 24

Companies already know that human capital is the most important asset in an organization, but fail to stick to this principle. Instead of investing in managing their human resources, they constantly seek to update their technology, revise their code of principles, and even beautify the workplace. At the end of the day, they fail to give sufficient attention on one thing they should have been focusing all along: human capital.

Without an efficient, fluid, and productive human capital, any organization will inevitably fail. There are certain ways by which an organization can improve the performance of its most important asset, its human capital:

1. Human Resources Training

Often, the knowledge of a newly hired employee is either raw or not contextualized to the organization. This is why conducting trainings and seminars for employees to understand how to apply their knowledge to the organization are very important. Employees must also be up to date on new organizational and functional trends, and seminars are the only way this can happen. By making sure employees are informed and educated, the organization will keep on adapting to modern times.

2. Better Hiring System

A hiring system that checks the overall competency and skills of an employee is much needed. Some hire employees purely on the basis of likability, while some because of competency. Even worse, there are some companies that hire employees because of consanguinity! A company must have a hiring system that has checks and balances and truly hire the person qualified for the job.

3. Value for Human Capital

Employees need to know that they are valued in an organization. This can happen by listening and responding to their needs. They must also be provided with avenues through which they can transmit their concerns. If this is not done, companies run the risk of losing their employees–massive resignations are the most common indicator for this. There are, however, other manifestations, such as lack of motivation of dissatisfaction.

4. Performance Assessment

Employees must constantly be monitored or assessed regarding their job performances. This can be done by having a regular job performance appraisal by the immediate supervisors or even by colleagues. What this does is to align one’s performance with the goals of the organization. Best of all, it makes sure that any problems are addressed before they even get out of hand.

5. Communication Audit

A communication audit, where the effectiveness of communication channels and transmission of messages are checked, is very important. Companies can be losing millions of possible profits and even employee loyalty because of an ineffective communication system.

With an effective communication system, members can be more efficient in performing their job functions and eliminate the lag time caused by ineffective communication.

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