The Importance of Human Capital Management
What do you think is the most valuable resource in an organisation?
The answer is EMPLOYEES. These are the individuals that spend the majority of their day contributing towards the success of the organisation and its most important resource.
What is human capital management (HCM)?
Refers to the hiring of the right employees, managing & training them, developing their skills, utilising their knowledge to the fullest, eventually benefitting the organisation.
Why is human capital management (HCM) essential?
HCM also helps with the training of employees to ensure their skills are constantly updated. Employees that are constantly growing and improving and are getting the development they are after are typically happy to keep growing and remain working with an organisation.
Overall HCM play a crucial role in increasing the efficiency of employees which in turns helps to increase the overall productivity of the organisation.
What can do organisation do to ensure it has top talent?
There are 5 things the organisation can do to ensure it is developing and retaining its top talent:
1. Train employees regularly
2. Monitor employee performance
3. Be transparent and communicate regularly and directly
4. Ensure job roles are defined and clear
5. Motivate and reward employees
What can you do to ensure your own success and development within an organisation?
1. Do your utmost to achieve company goals and increase your value.
2. Sharpen your skills through regular education
3. Develop new skills outside work hours
4. Contribute, be passionate and get involved
5. Communicate regularly with peers and colleagues
6. Volunteer for tasks
7. Be positive and smile