The last 13 months have been a rollercoaster in my role as Group HR Manager in Kuwait. Working six days a week with little time for my own business Human Resources Global Ltd. or you my trustworthy reader -I did miss writing???
Human Capital -? The ?Invisible Asset?
Human Capital in many cases demonstrates a positive linkage between the development of employees, organisational performance and career development, which is one of the keys to retaining employees. One definition of Human Capital as per the dictionary is ?the set of skills which an employee acquires on the job, through training and experience, which increases the employee?s value in the marketplace?.
In an organisational context, it is the organisation?s intellectual capital ? the knowledge, skills and competencies the company holds. These intangible factors assist the organisation by generating change by means of creativity and innovation. Human Capital cannot be monetary ? one cannot assign a financial figure to the value of employees, but an organisation can shape its realisation of its Human Capital?s potential.
Human Capital is all about the quality and quantity of the?labour force ? successful Human Capital practices within an organisation?require?knowledge of what is happening in the market, to assess and evaluate trends and understand the organisations competitiveness. An engaging workforce is crucial in such an instance. Employees in today?s world?are concerned about how an organisation communicates and behaves; ethicality and conscientiousness are important factors as many employees take pride in working for an organisation ? especially if one knows it is superior and safer.? The world is going by, if an organisation does not use such practices.
Many employees also grow increasingly anxious with the current?way of life, while organisations are more moving towards?increasing workers productivity? whilst?stating??people are our most important asset?. The organisation may view an employee as an asset, nonetheless performance for employees can be manipulated, so are employees really seen as the most important asset? (another blogpost?)
Talent may be more critical of management styles within a new?company; as each person wants a company to succeed, individuals?want to add value, an organisation must therefore engage the talent pool within. One must cultivate an environment of learning and sharing, yet how much of this is methodically done in organisations? I truly believe that an employee will put his/her whole heart and mind to work, if he/she?s understands the value and the meaning of the organisation, HR strategy and their own job.? Organisations?should implement an individual supportive environment in which knowledge can be created, shared and applied ? setting
During my time in the Middle East, I have learned a new fad about Human Capital which is that an organisation must have the mindset of experimentation in strategy and work. The economic growth especially here in the GCC, has unfortunately led to a lack of skilled (national) professionals, pressure due to the growing (young) labour force, insufficient skills that are not 100% aligned to market requirements, all of the above mean that an organisation needs to experiment with new tools ? one cannot ask an inexperienced individual for leadership skills by giving the responsibilities of a manager without proper experience. An organisation?should look at improving the education curriculum and opening up opportunities.
People want to work for an inspirational company, a company they can feel excited about, talent wants to be innovated, bring new ideas and implement them ? if they do not see the investment and support they will look elsewhere.? It is all about building and incorporating Human Capital into the organisation?s structure and procedures, as ?Human Capital? is always owned by individuals ? it is their skills and the knowledge that makes an organisation move forward. External parties may also wish to see transparency in an organisation, as Human Capital is at the centre of the business?s competitive advantage, leveraging the skills and capabilities of employees ? it is all about the intangible things?
(c) 2012 Human Resources Global Ltd.
Nicole Le Maire is an international Human Resources expert who offers tailor-made packages to meet organisational and individual international goals.
Email her at nicole@humanresourcesglobal.com
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